Australia Automotive Composites Market Share

Statistics for the 2023 & 2024 Australia Automotive Composites market share, created by Mordor Intelligence™ Industry Reports. Australia Automotive Composites share report includes a market forecast to 2029 and historical overview. Get a sample of this industry share analysis as a free report PDF download.

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Market Share of Australia Automotive Composites Industry

Companies, such as Toho Tenex (Teijin Ltd), Toray Industries Inc, Mitsubishi Chemical Carbon Fiber and Composites, Inc., and SGL Carbon, are some of the major players in the market studied. Companies are trying to invent new composites that can reduce the total weight of the vehicle to much lower proportions. For instance, in December 2017, BMW celebrated the manufacturing of its 100,000th i3, which features a monocoque that is made from light and stiff, but expensive, carbon fiber-reinforced plastic (CFRP).

Not only BMW has adopted CFRP in a mixed-material approach, but its German competitor, Audi, is also using the material to produce the rear wall of the space frame for its A8 luxury sedan. This part provides around 40% of the vehicle's overall torsional rigidity, making it a suitable candidate for manufacture with CFRP. The part is around 50% lighter in weight than its metallic predecessor.

Australia Automotive Composites Market Leaders

  1. Hexcel Corporation

  2. Mitsubishi Chemical Carbon Fiber and Composites, Inc.

  3. SGL Carbon

  4. Toho Tenex (Teijin Ltd)

  5. Toray Industries Inc

*Disclaimer: Major Players sorted in no particular order

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Australia Automotive Composites Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)