The global automotive composites market is set to witness exponential growth over the coming years primarily due to an upsurge in lightweight vehicle demand. Customers are nowadays preferring the purchase of fuel-efficient vehicles owing to rising fuel prices. This trend has also escalated the demand for electric and hybrid vehicles globally.

Mounting deployment of lightweight composites across various structural, exterior, and interior applications will augment market size over the years. According to the Oak Ridge National Laboratory (ORNL), these composites reduce vehicle weight by 60%, thereby making them more fuel-efficient. Along with these factors, automotive composites are gaining traction owing to features like high corrosion or rust resistance.

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Based on application, the automotive composites market is classified into powertrain, structural, exterior, and interior segments. Additionally, other applications include lift gate, tail gate, and fenders. Automotive composites application in the structural & powertrains segment accounts for nearly one-third of the business landscape. This is due to the accelerating implementation of carbon and glass fibers in structural components such as body and chassis panels. Introducing lightweight materials for these automotive components will be a major factor driving market dynamics in years ahead.

In terms of segmentation by fiber, the global automotive composites market is categorized into glass, carbon, & natural fiber. Of these, the glass segment is poised to hold a dominant position and record a CAGR of nearly 6% through 2026. This can be attributed to high product strength and stiffness over other fibers. Furthermore, myriad benefits displayed by these fibers, including low dielectric constant, high heat resistance, & cost-effective nature are anticipated to augment industry demand in the coming years.

With regards to the manufacturing process spectrum, the global automotive composites market is categorized into compression, injection, & resin transfer molding (RTM), as well as other manufacturing processes such as pre-peg layup process.

The injection segment registered a market share of around 15% in 2019 and is projected to expand at a considerable rate through 2026, owing to the rising consumer preference for cost-effective solutions in conducting large-scale molding projects. Likewise, low energy usage alongside reduced floor spacing is anticipated to contribute heavily to revenue growth.

Europe automotive composites market is set to exhibit a growth rate of over 7% through 2026. The product witnesses high demand from European countries including the UK, France, Germany, and Spain. Burgeoning automobile industry and government regulations related to greenhouse gas emissions from vehicles are likely to generate considerable growth prospects for the regional automotive composites business landscape.

Key automotive composites market participants include Owens Corning, Mitsubishi Rayon Co., Ltd., Teijin Ltd., Toray Industries, Johns Manville Corporation, Hexcel Corporation, and Cytec Solvay Group, among others. In order to sustain in the competitive landscape, the companies are focused on various growth strategies including technology advancement, M&A, and geographic expansion.

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Partial Chapter of the Table of Content

Chapter 5    Automotive Composites Market, By Resin

5.1    Market by resin, 2019 & 2026

5.2    Thermoset

5.2.1    Market estimates and forecast, 2016 – 2026

5.2.2    Market estimates and forecast by region, 2016 – 2026

5.3    Thermoplastic

5.3.1    Market estimates and forecast, 2016 – 2026

5.3.2    Market estimates and forecast by region, 2016 – 2026

Chapter 6    Automotive Composites Market, By Manufacturing Process

6.1    Market by manufacturing process, 2019 & 2026

6.2    Compression

6.2.1    Market estimates and forecast, 2016 – 2026

6.2.2    Market estimates and forecast by region, 2016 – 2026

6.3    Injection

6.3.1    Market estimates and forecast, 2016 – 2026

6.3.2    Market estimates and forecast by region, 2016 – 2026

6.4    RTM Resin

6.4.1    Market estimates and forecast, 2016 – 2026

6.4.2    Market estimates and forecast by region, 2016 – 2026

6.5    Others

6.5.1    Market estimates and forecast, 2016 – 2026

6.5.2    Market estimates and forecast by region, 2016 – 2026

Chapter 7    Automotive Composites Market, By Application

7.1    Market by application, 2019 & 2026

7.2    Interior

7.2.1    Market estimates and forecast, 2017 – 2027

7.2.2    Market estimates and forecast by region, 2017 – 2027

7.3    Exterior

7.3.1    Market estimates and forecast, 2017 – 2027

7.3.2    Market estimates and forecast by region, 2017 – 2027

7.4    Structural

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