| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| CAGR | 5.00% |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Automotive Composites Market Analysis by Mordor Intelligence
The Asia-Pacific Automotive Composites Market is expected to register a CAGR of greater than 5% during the forecast period.
- The increasing global temperature because of the emission of harmful gases in the atmosphere by automobiles the demand for light weight components are rising as they are more fuel efficient and reduces emission of these gases in the atmosphere.
- Despite the downfall of sales in the passenger and commercial vehicles, the region still is the biggest automobile market in the world. With around 36 million passenger vehicles being sold in the region during the year 2019.
- However, because of the ongoing trade war between United States and China along with the confusion over the emission standards in the region, the growth in automotive sector is slowing down and the automobile sales are expected to witness a downfall for a couple of years until the end of trade tensions.
Asia-Pacific Automotive Composites Market Trends and Insights
Trend to Decrease weight Driving Growth
Owing to the increasing pollution and decreasing air quality in the region, the demand for fuel efficient vehicles is enhancing in the region. The Auto manufacturers are investing heavily to reduce weight of the vehicle by using different polymers and fibers, to enhance the fuel efficiency of the vehicle and enhance demand in the region.
Composites, which essentially are composition of two of more constituent materials, form a substantial part of an automobile and, if smartly used, can lead to significantly lighter vehicles that are safer and more fuel-efficient.
Another benefit of using of using composites in automobiles is that it can be recycled and for the same reason recyclable bio-based automotive composites are being adapted for manufacturing automotive components.
For instance, in March 2019, McLaren has introduced chassis made from carbon fiber, this will reduce the overall weight of the car as the company develops its next generation of vehicles as part of its Track25 business plan.
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China Remains the Largest Market in 2019
During the year 2019, the automobiles sales in the country witnessed a downfall and a total of more than 21 million passenger cars were sold in the country in 2019 and more than 4 million commercial vehicles were sold. Despite the downfall in sales China maintained its leadership in automotive sales globally.
With the presence of several major OEMs and component manufacturers in the country, and their spending towards research and development of innovative composites and materials to reduce the overall weight of the vehicle and increase the fuel efficiency is driving growth for the industry.
Owing to the increasing demand for automobiles in the country as well as globally as the country is a major exporter of automobiles to several parts of the world. the major players in the region are investing in expanding their production capacities to meet the demand and entering into strategic partnership to gain substantial market share.
For instance, in April 2018, Magna announced that it has entered into a joint venture with GAC subsidiary, GAC Component Co., Ltd., for production of composite liftgates for a global automaker's crossover vehicle. The joint venture will work out of a new 55,900 square-foot facility located in Changsha, China. Magna has an expertise in advanced materials and manufacturing, combined with GACC's deep connection in the world's largest automotive market, will be a winning strategic partnership for both players.
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Competitive Landscape
The Asia-Pacific Automotive Composites Market is fragmented, with many players accounting for a small market share. Some of the prominent companies in Asia-Pacific Automotive Composites Market are 3B-Fiberglass, Solvay, BASF, Teijin and others. The major players in the country are entering into strategic partnership with global leaders to gain considerable market share.
For instance, in February 2020, Anand Group entered into a partnership with Far-UK to development of carbon fiber composites. The collaboration will focus on bringing out innovative solutions suited for reducing emissions. The product has the potential for Light Weighting in vehicles by almost 50%, with strength matching that of high strength alloy steel at the weight of aluminum.
Asia-Pacific Automotive Composites Industry Leaders
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3B-Fiberglass
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Solvay
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Teijin
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Gurit
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BASF
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
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Asia-Pacific Automotive Composites Market Report Scope
The Asia-Pacific Automotive Composites Market is Segmented by Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, and Compression Molding), Material Type (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, and Others), Application Type (Structural Assemble, Power Train Components, Interior, Exterior and Others) and Country. Along with the major players, their strategies, innovations, technological advancements and financials are also covered in the report.
Production Type
| Hand Layup |
| Resin Transfer Molding |
| Vaccum Infusion Processing |
| Compression Molding |
Material Type
| Thermoset Polymer |
| Thermoplastic Polymer |
| Carbon Fiber |
| Others |
Application Type
| Structural Assembly |
| Power Train Components |
| Interior |
| Exterior |
| Others |
| Production Type | Hand Layup |
| Resin Transfer Molding | |
| Vaccum Infusion Processing | |
| Compression Molding | |
| Material Type | Thermoset Polymer |
| Thermoplastic Polymer | |
| Carbon Fiber | |
| Others | |
| Application Type | Structural Assembly |
| Power Train Components | |
| Interior | |
| Exterior | |
| Others |
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Key Questions Answered in the Report
What is the current Asia-Pacific Automotive Composites Market size?
The Asia-Pacific Automotive Composites Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Asia-Pacific Automotive Composites Market?
3B-Fiberglass, Solvay, Teijin, Gurit and BASF are the major companies operating in the Asia-Pacific Automotive Composites Market.
What years does this Asia-Pacific Automotive Composites Market cover?
The report covers the Asia-Pacific Automotive Composites Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Asia-Pacific Automotive Composites Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Asia-Pacific Automotive Composites Market Report
Statistics for the 2025 Asia-Pacific Automotive Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Automotive Composites analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
