PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2115782
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 2115782
The automotive composites market is estimated to be valued at USD 10.74 billion in 2026 and reach USD 19.35 billion by 2031, at a CAGR of 12.5% from 2026 to 2031. The demand for carbon fiber in automotive composites is increasing rapidly due to the automotive industry's focus on lightweighting, vehicle electrification, and improved fuel efficiency. Carbon fiber composites offer exceptional strength, stiffness, and durability at a fraction of the weight of conventional materials, enabling automakers to reduce vehicle mass, enhance performance, and extend electric vehicle driving range. Their superior strength-to-weight ratio also contributes to lower emissions and improved energy efficiency, helping manufacturers meet increasingly stringent environmental regulations.
| Scope of the Report | |
|---|---|
| Years Considered for the Study | 2023-2031 |
| Base Year | 2025 |
| Forecast Period | 2026-2031 |
| Units Considered | Value (USD million/billion) and volume (kiloton) |
| Segments | Fiber type, resin type, manufacturing process, application, vehicle type, and region |
| Regions covered | Europe, North America, Asia Pacific, the Middle East & Africa, and Latin America |
Carbon fiber's corrosion resistance, design flexibility, and ability to be molded into complex geometries make it well-suited for applications such as body panels, battery enclosures, roof systems, chassis components, and structural reinforcements. Ongoing advancements in manufacturing technologies and growing investments in cost-effective carbon fiber solutions are further accelerating their adoption across both premium and next-generation vehicle platforms.

"Thermoset resin to be the second fastest-growing resin type segment during the forecast period"
Thermoset resins are projected to register the second-highest growth rate in the automotive composites market due to their excellent mechanical strength, thermal stability, and cost-effectiveness. Widely used resins such as epoxy, polyester, and vinyl ester enable the production of lightweight, durable, and high-performance automotive components, including body panels, structural parts, and battery enclosures. Their superior strength-to-weight ratio helps reduce vehicle weight, improve fuel efficiency, and support vehicle electrification initiatives. Ongoing demand for high-performance structural applications and advancements in thermoset composite processing technologies continue to drive segment growth.
"Compression molding segment to be second-fastest-growing manufacturing process segment during forecast period"
Compression molding is projected to be the second-fastest-growing manufacturing process in the automotive composites market due to its high production efficiency, cost-effectiveness, and suitability for large-scale automotive applications. The process enables the production of complex, lightweight components with minimal material waste and short cycle times, making it ideal for high-volume vehicle manufacturing. Its compatibility with both thermoset and thermoplastic composites allow manufacturers to produce structural parts, body panels, and battery enclosure components that meet evolving performance and lightweighting requirements.
"In terms of value, interior application accounted for the second-largest share in the overall automotive composites market"
In 2025, the interior segment accounted for the second-largest share of the automotive composites market. Composite materials are widely used in seat structures, headliners, load floors, door panels, interior trims, and cabin components due to their lightweight, durability, and design flexibility. Glass fiber and carbon fiber composites help reduce vehicle weight while maintaining structural integrity, supporting improved fuel efficiency and extended EV range. Growing adoption of lightweight interior components by leading automakers is expected to further drive demand for automotive composites in interior applications.
"Asia Pacific to register the highest growth rate in the automotive composites market during the forecast period"
The Asia Pacific region is projected to register the highest growth rate in the automotive composites market during the forecast period. This growth is driven by the region's dominance in global vehicle manufacturing, rapid expansion of electric vehicle production, and increasing investments in lightweight automotive technologies. China, Japan, South Korea, and India are leading the adoption of automotive composites as automakers focus on improving fuel efficiency, reducing emissions, and extending EV driving range. The region accounted for over 70% of global vehicle production and nearly 78% of global electric vehicle production in 2025, creating substantial demand for composite materials in battery enclosures, body panels, structural components, and interior applications. Strong government support for vehicle electrification, a robust automotive supply chain, and the presence of major OEMs and composite manufacturers are expected to further accelerate market growth across the region.
Prominent companies in this market include Toray Industries, Inc. (Japan), SGL Carbon (Germany), POLYTEC HOLDING AG, ElringKlinger AG (Germany), Syensqo (Belgium), HENGRUI CORPORATION (HRC) (China), Exel Composites (Finland), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Piran Advanced Composites (UK), IDI Composites International (US), and Rochling SE & Co. KG (Germany).
Research coverage
This research report categorizes the automotive composites market based on fiber type (glass fiber, carbon fiber), resin type (thermoset, thermoplastic), manufacturing process (compression molding, injection molding, resin transfer molding), application (exterior, interior, powertrain & chassis, battery enclosures), vehicle type (non-electric, electric), and region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America). The scope of the report includes detailed information on the major factors influencing the growth of the automotive composites market, including drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted to provide insights into their business overview, solutions and services, key strategies, and recent developments in the automotive composites market. This report includes a competitive analysis of upcoming startups in the automotive composites market ecosystem.
The report will help market leaders/new entrants in this market with information on the closest approximations of revenue for the overall automotive 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.