Automotive Composites Market Set to Reach USD 15.75 Billion by 2030, Growing at a CAGR of 12.45%
Global Automotive Composites Market to Reach USD 15.75 Billion by 2030, Growing at a CAGR of 12.45%
Summary:
The Global Automotive Composites Market is projected to grow significantly, reaching a value of USD 15.75 billion by 2030, at a compound annual growth rate (CAGR) of 12.45% during the forecast period. With advancements in composite materials and increasing demand for lightweight, fuel-efficient vehicles, the automotive composites industry is experiencing substantial growth. This press release highlights the latest trends, innovations, and regulatory impacts driving the growth of the automotive composites market, offering valuable insights for businesses and investors in the sector.
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Market Size:
The global automotive composites market was valued at USD 7.62 billion in 2023 and is expected to expand at a CAGR of 12.45%, reaching USD 15.75 billion by 2030. This growth is driven by the increasing adoption of composite materials in the automotive industry to enhance vehicle performance, reduce weight, and meet environmental standards.
Scope and Research Methodology:
The report provides an extensive analysis of the automotive composites market, using both primary and secondary research methods. Primary research involved in-depth interviews with key industry experts, CEOs, and front-line staff, while secondary research focused on financial reports and industry publications. The data was validated through comprehensive cross-referencing to ensure accuracy and reliability.
Report Coverage:
- Market segmentation by fiber type (Glass, Carbon, Natural)
- Resin types (Thermoset, Thermoplastic)
- Manufacturing processes (Compression, Injection, Resin Transfer Moulding)
- End-use applications (Interior, Exterior, Structural & Powertrain)
- Geographical analysis including North America, Europe, Asia Pacific, and the Rest of the World
Overview:
The automotive composites market is driven by the demand for lighter, stronger, and more fuel-efficient vehicles. Composites such as carbon fiber and glass fiber offer automotive manufacturers a unique advantage in reducing vehicle weight without compromising safety or durability. These materials are gaining popularity in applications such as exterior panels, interior components, and structural parts.
Dynamics:
Emerging trends, such as increasing environmental awareness and regulatory pressure for reduced CO2 emissions, are contributing to the growth of the automotive composites market. Additionally, innovations in composite materials, such as improved durability and cost-effectiveness, are further driving the adoption of these materials across the automotive industry.
Segmentation:
- By Fiber:
- Glass
- Carbon
- Natural
- By Resin:
- Thermoset
- Thermoplastic
- By Manufacturing Process:
- Compression Molding
- Injection Molding
- Resin Transfer Moulding (RTM)
- By Application:
- Interior
- Exterior
- Structural & Powertrain
Key Players Include:
- ACP
- Cytec Solvay Group
- Hexcel Corporation
- Owens Corning
- Protech
- SGL Group
- Teijin Limited
- Toray Industries
- Mitsubishi Chemical Holding Corporation
- Solvay SA
- Gurit
- TPI Composites
- Huntsman Corporation
- Hexion
Reason to Buy:
- Gain insights into the automotive composites market growth prospects and trends.
- Understand the evolving dynamics and applications of composites in automotive manufacturing.
- Assess the impact of regulatory frameworks and the rise in fuel efficiency standards.
- Discover key market players and their strategies for maintaining a competitive edge.
- Make informed business decisions based on the latest market insights and forecasts.
Table of Contents:
- Executive Summary
- Market Dynamics
- Market Segmentation
- Key Players Analysis
- Regional Analysis
- COVID-19 Impact
- Competitive Landscape
- Conclusion and Recommendations
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About Maximize Market Research:
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