Automotive Composites Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

Depleting fossil fuel resources and environmental concerns drive energy-efficient automotive trends, propelling demand for composites

In the wake of dwindling fossil fuel reservoirs and a heightened consciousness surrounding environmental pollution, the automotive industry is witnessing a transformative shift towards energy efficiency. Composites, amalgamations of two or more constituent materials, stand as a pivotal component in this evolution, offering the potential for significantly lighter, safer, and more fuel-efficient vehicles when utilized intelligently. Comprising high-performance fibers such as glass or carbon, composites are poised to supplant steel in the automotive sector, heralding a burgeoning market poised for substantial growth.

Staggering Growth Projections

According to Fairfield Market Research, the global automotive composites market is slated for robust expansion, with projections indicating an impressive Compound Annual Growth Rate (CAGR) of 16% during the forecast period spanning from 2024 to 2031. Analysts anticipate revenue opportunities to soar, reaching a staggering US$20 billion by the culmination of 2031.

Transition to Thermoplastic-based Composites:

Innovations in thermoplastic-based composites poised to revolutionize automotive industry with enhanced sustainability and efficiency

Transitioning beyond traditional thermoset-based composites, the automotive industry is embracing advancements in thermoplastic-based counterparts. These innovations promise a myriad of benefits, including reduced material waste, zero-solvent emissions, streamlined painting processes, enhanced worker safety, and heightened recyclability, underscoring their pivotal role in fostering sustainability and efficiency within the sector.

Overcoming Challenges, Unlocking Opportunities

Regulatory mandates and relentless R&D efforts fuel market growth, while production costs and technological gaps in Asia Pacific present hurdles

While governmental regulations advocating lightweight materials and relentless research and development endeavors drive the global automotive composites market forward, challenges such as high production costs and technological disparities in the lucrative Asia Pacific region hinder the attainment of even greater growth rates.

Polymer Matrix Reigns Supreme

Polymer matrix emerges as dominant material segment, projected to reach US$6.2 million in 2024

Within the realm of automotive composites, polymer matrix composites stand out as the frontrunner, poised for the most prominent expansion during the forecast period. Analysts anticipate this segment to reach a valuation of US$6.29 million in the 2024, underscoring its pivotal role in shaping the future landscape of the automotive industry.

Geographic Analysis: Asia Pacific Dominates

Asia Pacific emerges as the most lucrative region, fueled by burgeoning economies and robust demand

Geographically, Asia Pacific emerges as the epicenter of automotive composite demand, propelled by the burgeoning economies of China, India, and Japan. By the end of 2031, Asia Pacific is anticipated to commandeer more than half of the overall demand for automotive composites, attracting key players and fostering a thriving ecosystem of production facilities and strong market demand. Additionally, Europe presents another region ripe with profit potential, buoyed by stringent industry regulations aimed at curbing CO2 emissions.

Competitive Analysis

Some key companies are

Cytec Industries Inc.
Toray Industries, Inc.
SAERTEX GmbH & Co. KG
Koninklijke Ten Cate N.V.
Johns Manville
Johnson Controls Inc.
Scott Bader Company Ltd
Teijin Limited
E. I. du Pont de Nemours and Company
UFP Technologies, Inc.
Other

1. Executive Summary

1.1. Global Automotive Composites Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Automotive Composites Market Outlook, 2018 - 2031

3.1. Global Automotive Composites Market Outlook, by Material, Value (US$ Bn), 2018 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Polymer Matrix Composites
  - 3.1.1.2. Metal Matrix Composites
  - 3.1.1.3. Ceramic Matrix Composites
3.2. Global Automotive Composites Market Outlook, by Process, Value (US$ Bn), 2018 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. Manual Process
  - 3.2.1.2. Compression Process
  - 3.2.1.3. Injection and Continuous Process
3.3. Global Automotive Composites Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. Interior Components
  - 3.3.1.2. Exterior components
  - 3.3.1.3. Engine and Drivetrain Components
3.4. Global Automotive Composites Market Outlook, by Region, Value (US$ Bn), 2018 - 2031
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America Automotive Composites Market Outlook, 2018 - 2031

4.1. North America Automotive Composites Market Outlook, by Material, Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Polymer Matrix Composites
  - 4.1.1.2. Metal Matrix Composites
  - 4.1.1.3. Ceramic Matrix Composites
4.2. North America Automotive Composites Market Outlook, by Process, Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Manual Process
  - 4.2.1.2. Compression Process
  - 4.2.1.3. Injection and Continuous Process
4.3. North America Automotive Composites Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. Interior Components
  - 4.3.1.2. Exterior components
  - 4.3.1.3. Engine and Drivetrain Components
  - 4.3.1.4. Homecare Settings
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Automotive Composites Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 4.4.1.2. U.S. Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 4.4.1.3. U.S. Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 4.4.1.4. Canada Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 4.4.1.5. Canada Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 4.4.1.6. Canada Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Automotive Composites Market Outlook, 2018 - 2031

5.1. Europe Automotive Composites Market Outlook, by Material, Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Polymer Matrix Composites
  - 5.1.1.2. Metal Matrix Composites
  - 5.1.1.3. Ceramic Matrix Composites
5.2. Europe Automotive Composites Market Outlook, by Process, Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Manual Process
  - 5.2.1.2. Compression Process
  - 5.2.1.3. Injection and Continuous Process
5.3. Europe Automotive Composites Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Interior Components
  - 5.3.1.2. Exterior components
  - 5.3.1.3. Engine and Drivetrain Components
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Automotive Composites Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.2. Germany Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.3. Germany Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.4. U.K. Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.5. U.K. Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.6. U.K. Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.7. France Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.8. France Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.9. France Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.10. Italy Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.11. Italy Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.12. Italy Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.13. Turkey Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.14. Turkey Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.15. Turkey Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.16. Russia Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.17. Russia Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.18. Russia Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 5.4.1.19. Rest of Europe Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 5.4.1.20. Rest of Europe Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 5.4.1.21. Rest of Europe Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Automotive Composites Market Outlook, 2018 - 2031

6.1. Asia Pacific Automotive Composites Market Outlook, by Material, Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Polymer Matrix Composites
  - 6.1.1.2. Metal Matrix Composites
  - 6.1.1.3. Ceramic Matrix Composites
6.2. Asia Pacific Automotive Composites Market Outlook, by Process, Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Manual Process
  - 6.2.1.2. Compression Process
  - 6.2.1.3. Injection and Continuous Process
6.3. Asia Pacific Automotive Composites Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Interior Components
  - 6.3.1.2. Exterior components
  - 6.3.1.3. Engine and Drivetrain Components
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Automotive Composites Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. China Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 6.4.1.2. China Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 6.4.1.3. China Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.4. Japan Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 6.4.1.5. Japan Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 6.4.1.6. Japan Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.7. South Korea Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 6.4.1.8. South Korea Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 6.4.1.9. South Korea Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.10. India Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 6.4.1.11. India Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 6.4.1.12. India Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.13. Southeast Asia Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 6.4.1.14. Southeast Asia Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 6.4.1.15. Southeast Asia Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 6.4.1.16. Rest of Asia Pacific Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 6.4.1.17. Rest of Asia Pacific Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 6.4.1.18. Rest of Asia Pacific Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Automotive Composites Market Outlook, 2018 - 2031

7.1. Latin America Automotive Composites Market Outlook, by Material, Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Polymer Matrix Composites
  - 7.1.1.2. Metal Matrix Composites
  - 7.1.1.3. Ceramic Matrix Composites
7.2. Latin America Automotive Composites Market Outlook, by Process, Value (US$ Bn), 2018 - 2031
7.3. Latin America Automotive Composites Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Interior Components
  - 7.3.1.2. Exterior components
  - 7.3.1.3. Engine and Drivetrain Components
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Automotive Composites Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 7.4.1.2. Brazil Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 7.4.1.3. Brazil Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.4. Mexico Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 7.4.1.5. Mexico Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 7.4.1.6. Mexico Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.7. Argentina Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 7.4.1.8. Argentina Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 7.4.1.9. Argentina Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 7.4.1.10. Rest of Latin America Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 7.4.1.11. Rest of Latin America Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 7.4.1.12. Rest of Latin America Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Automotive Composites Market Outlook, 2018 - 2031

8.1. Middle East & Africa Automotive Composites Market Outlook, by Material, Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Polymer Matrix Composites
  - 8.1.1.2. Metal Matrix Composites
  - 8.1.1.3. Ceramic Matrix Composites
8.2. Middle East & Africa Automotive Composites Market Outlook, by Process, Value (US$ Bn), 2018 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. Manual Process
  - 8.2.1.2. Compression Process
  - 8.2.1.3. Injection and Continuous Process
8.3. Middle East & Africa Automotive Composites Market Outlook, by Component, Value (US$ Bn), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Interior Components
  - 8.3.1.2. Exterior components
  - 8.3.1.3. Engine and Drivetrain Components
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Automotive Composites Market Outlook, by Country, Value (US$ Bn), 2018 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 8.4.1.2. GCC Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 8.4.1.3. GCC Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.4. South Africa Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 8.4.1.5. South Africa Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 8.4.1.6. South Africa Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.7. Egypt Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 8.4.1.8. Egypt Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 8.4.1.9. Egypt Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.10. Nigeria Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 8.4.1.11. Nigeria Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 8.4.1.12. Nigeria Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
  - 8.4.1.13. Rest of Middle East & Africa Automotive Composites Market by Material, Value (US$ Bn), 2018 - 2031
  - 8.4.1.14. Rest of Middle East & Africa Automotive Composites Market by Process, Value (US$ Bn), 2018 - 2031
  - 8.4.1.15. Rest of Middle East & Africa Automotive Composites Market by Component, Value (US$ Bn), 2018 - 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. By Component vs by Process Heat map
9.2. Manufacturer vs by Process Heatmap
9.3. Company Market Share Analysis, 2023
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. Cytec Industries Inc.
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Toray Industries, Inc.
- 9.5.3. SAERTEX GmbH & Co. KG
- 9.5.4. Koninklijke Ten Cate N.V.
- 9.5.5. Johns Manville
- 9.5.6. Johnson Controls Inc.
- 9.5.7. Scott Bader Company Ltd.
- 9.5.8. Teijin Limited
- 9.5.9. E. I. du Pont de Nemours and Company
- 9.5.10. UFP Technologies, Inc.

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations