PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2111246
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2111246
The EV composites market is estimated at USD 2.69 billion in 2026 and is projected to reach USD 5.45 billion by 2031, at a CAGR of 15.2% from 2026 to 2031. The market is primarily driven by the rapid expansion of global electric vehicle production, increasingly stringent fuel economy and emission regulations, and the automotive industry's growing emphasis on lightweight, high-performance, and sustainable materials.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2023-2031 |
| Base Year | 2025 |
| Forecast Period | 2026-2031 |
| Units Considered | Value (USD million) and volume (kiloton) |
| Segments | Fiber type, resin type, manufacturing process, application, type, and region |
| Regions covered | Europe, North America, Asia Pacific, Middle East & Africa, and Latin America |
Composite materials play a critical role in reducing vehicle weight, improving battery efficiency, extending driving range, and enhancing structural integrity, making them an essential component in next-generation electric vehicles. Among fiber types, glass fiber composites continue to witness strong demand due to their excellent balance of performance and cost. Compared with carbon fiber composites, glass fiber offers a significantly more economical solution while delivering high tensile strength, corrosion resistance, impact resistance, and long-term durability. These materials are extensively used in battery enclosures, body panels, front-end modules, underbody shields, structural reinforcements, and interior components. Their excellent thermal and electrical insulation properties help improve battery safety and thermal management while ensuring reliable performance of high-voltage electrical systems.

Glass fiber composites provide outstanding design flexibility, enabling manufacturers to produce complex and aerodynamically optimized vehicle components through high-volume manufacturing processes such as compression molding and resin transfer molding. Advances in recyclable thermoplastic composites, automated manufacturing technologies, and bio-based resin systems are further enhancing the sustainability and cost competitiveness of glass fiber composites. In addition, their ability to reduce noise, vibration, and harshness (NVH), improve occupant comfort, and support vehicle lightweighting makes them a preferred material for mass-market electric vehicles. As global EV production continues to accelerate and manufacturers seek cost-effective lightweight solutions, the adoption of glass fiber composites is expected to increase steadily throughout the forecast period.
''In terms of value, the thermoset resin segment accounted for the largest share of the overall EV composites market.''
Thermoset composites utilize thermoset resins as the matrix material reinforced with fibers such as carbon fiber, glass fiber, aramid fiber, and natural fiber to deliver high strength, stiffness, and long-term durability. Thermoset resin systems including epoxy, unsaturated polyester, vinyl ester, and polyurethane remain widely used in electric vehicle composite manufacturing due to their excellent fiber impregnation characteristics, superior mechanical properties, and strong adhesion to reinforcing fibers. Once cured, thermoset composites form a permanently cross-linked molecular structure that cannot be remelted, providing exceptional dimensional stability, fatigue resistance, corrosion resistance, and excellent resistance to heat, chemicals, and environmental degradation.
These properties make thermoset composites well suited for demanding electric vehicle applications such as battery enclosures, body panels, roof modules, chassis components, underbody shields, and structural reinforcements, where high structural integrity and crash performance are critical. In addition, thermoset composites offer excellent electrical insulation and thermal stability, supporting the safe operation of high-voltage battery systems and power electronics.
The thermoset composites segment is expected to witness substantial growth during the forecast period, driven by the rapid expansion of electric vehicle production, increasing adoption of lightweight materials to improve vehicle efficiency and driving range, and stringent vehicle safety and emission regulations. Ongoing advancements in fast-curing resin systems, automated resin transfer molding (RTM), compression molding technologies, and recyclable thermoset formulations are improving manufacturing efficiency and sustainability. As automotive original equipment manufacturers continue to prioritize lightweight, durable, and high-performance materials, thermoset composites are expected to remain a key material choice for structural and semi-structural electric vehicle components.
''In terms of value, the RTM manufacturing process segment accounted for the third largest share of the overall EV composites market.''
In 2025, the resin transfer molding (RTM) segment accounted for the third-largest share of the electric vehicle composites market by value. RTM is increasingly adopted for manufacturing high-performance composite components due to its ability to produce lightweight, dimensionally accurate, and structurally strong parts with excellent surface quality. The process is widely used for battery enclosures, body panels, structural components, and aerodynamic parts, offering high design flexibility and efficient fiber impregnation. Advancements in high-pressure RTM, automated production, and fast-curing resin systems are reducing cycle times and supporting higher production volumes. As electric vehicle manufacturers continue to prioritize lightweighting, safety, and scalable manufacturing, demand for RTM-produced composite components is expected to grow steadily during the forecast period.
"During the forecast period, Europe is projected to be the second-largest EV composites market."
The growth of EV composites in Europe is fuelled by regulatory pressures, government incentives, automotive innovation, infrastructure development, and sustainability goals. Trends such as the adoption of carbon fiber composites, advanced manufacturing techniques, and the focus on battery enclosures highlight the dynamic nature of this market. As Europe continues to lead in the transition to electric mobility, the demand for high-performance composites is set to increase, driving further advancements and adoption in the EV industry. Leading companies like Rochling SE & Co. KG and ElringKlinger AG are ramping up their R&D efforts to develop new products, aligning with market trends and meeting the growing demand for EV composites.
Prominent companies include Toray Industries, Inc. (Japan), Teijin Limited (Japan), Syensqo (Belgium), Piran Advanced Composites (UK), HRC (Hengrui Corporation) (China), Envalior (Germany), Exel Composites (Finland), Kautex Textron GmbH & Co. KG (Germany), SGL Carbon (Germany), POLYTEC HOLDING AG (Austria), Plastic Omnium (France), Rochling SE & Co. KG (Germany), Mar-Bal, Inc. (US), ElringKlinger AG (Germany), and Faurecia (France).
Research Coverage
This research report categorizes the EV composites market by fiber type (glass fiber, carbon fiber, other fibers), by resin type (thermoplastics, thermoset), by type (ultra-premium, premium and non-premium), by manufacturing process (compression molding, injection molding, rtm), application (interior, exterior, battery enclosure, powertrain & chassis), region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the EV composites market, such as drivers, restraints, challenges, and opportunities. A thorough examination of key industry players has been conducted to provide insights into their business overview, solutions and services, key strategies, contracts, partnerships, and agreements. It also covers new product and service launches, mergers and acquisitions, and recent developments in the EV composites market. This report includes a competitive analysis of upcoming startups in the EV composites market ecosystem.
The report will help market leaders/new entrants in this market with information on the closest approximations of revenue numbers for the overall EV Composites market and its subsegments. This report will help stakeholders understand the competitive landscape and gain insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.