Automotive Composites Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Global Automotive Composites Materials Market Analysis & Industry Share and It is Segmented by Application Type (Structural Assembly, Powertrain Component, Interior, Exterior), Material Type (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, and Glass Fiber), and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The Report Offers Market Size and Forecasts for Automotive Composites Market in Terms of Value (USD) for all the Mentioned Segments.

Automotive Composites Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Automotive Composites Market Size

Automotive Composites Market (2024 - 2029)
Study Period 2019 - 2030
Market Size (2025) USD 10.06 Billion
Market Size (2030) USD 17.72 Billion
CAGR (2025 - 2030) 12.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

Automotive Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Automotive Composites Market with other markets in Chemicals & Materials Industry

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Automotive Composites Market Analysis

The Automotive Composites Market size is estimated at USD 10.06 billion in 2025, and is expected to reach USD 17.72 billion by 2030, at a CAGR of 12% during the forecast period (2025-2030).

Over the medium term, the automotive industry's rising demand for lightweight materials and increasing focus on fuel efficiency is poised to significantly propel market growth. Yet, the steep costs of carbon fiber and glass fiber composites pose a challenge to this expansion. Integrating these composites into budget-friendly vehicles could lead to a notable price uptick.

Moreover, the limited recyclability of composite materials stands as a significant hurdle for their use in entry-level passenger vehicles. This challenge is intensified by the intricate nature of composite structures, which often comprise diverse components that are hard to separate and process. Still, a notable trend is emerging: original equipment manufacturers (OEMs) are increasingly collaborating with suppliers, driven by several pivotal factors.

As the automotive sector confronts the pressing need to craft fuel-efficient vehicles in line with stringent environmental mandates, the appetite for lightweight materials has surged. This demand is especially pronounced in the swiftly growing lightweight electric vehicle segment, where weight reduction is vital for boosting battery efficiency and overall performance.

Moreover, industry giants like BMW and Nissan are delving into pioneering methods to substitute conventional metal parts with cutting-edge composite fibers. This transition not only meets the demand for lighter vehicle frameworks but also aligns with sustainability objectives by potentially curtailing the carbon footprint of vehicle manufacturing.

Automotive Composites Industry Overview

Key players like Teijin Ltd, Toray Industries Inc., Mitsubishi Chemical Carbon Fiber and Composites, Inc., and SGL Carbon lead the Automotive Composites Market. These companies are innovating new composites aimed at significantly reducing vehicle weight. For instance,

  • In October 2023, Toray Industries, Inc. unveiled TORAYCA carbon fiber, a lightweight material that bolsters the performance of carbon-fiber-reinforced plastics. This breakthrough not only lightens the load across diverse applications but also curtails environmental impact by championing efficiency. With its standout attributes, TORAYCA is poised to revolutionize sectors such as aerospace and automotive, driving enhancements in fuel efficiency and a reduction in carbon emissions.
  • In July 2023, BMW AG allocated USD 224 million in South Africa, enhancing its electric vehicle production facilities to meet the surging global demand for EVs. This move not only amplifies the demand for lightweight manufacturing composite materials but also solidifies BMW's foothold in the local market. Furthermore, the investment bolsters the local economy by generating employment opportunities and championing sustainable innovation.

Automotive Composites Market Leaders

  1. Hexcel Corporation

  2. Mitsubishi Chemical Carbon Fiber and Composites, Inc.

  3. Toray Industries Inc

  4. SGL Carbon SE

  5. Teijin Limited

  6. *Disclaimer: Major Players sorted in no particular order
Automotive Composites Market
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Automotive Composites Market News

  • June 2024: Teijin Limited unveiled a new production line dedicated to Polycarbonate Resin Panlite sheets and films, bolstering its manufacturing prowess. These materials, pivotal for automotive and electrical/electronic uses, are set to address the surging demand for lightweight, high-performance, and durable products, all while upholding top-notch quality and efficiency.
  • January 2024: SGL Carbon SE has teamed up with E-Works Mobility to create a specialized battery case utilizing glass fiber-reinforced plastic. This partnership boosts the durability and performance of battery enclosures, ensuring they are lightweight yet resilient against diverse environmental conditions. This endeavor underscores the company's dedication to both innovation and sustainability within the automotive sector.

Automotive Composites Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Market Driver
    • 4.1.1 Increase in Demand for Lightweight Vehicles Witnessing Major Market Growth
  • 4.2 Market Restraint
    • 4.2.1 High Processing and Manufacturing Cost of Composite Material
  • 4.3 Industry Attractiveness - Porter's Five Forces Analysis
    • 4.3.1 Threat of New Entrants
    • 4.3.2 Bargaining Power of Buyers/Consumers
    • 4.3.3 Bargaining Power of Suppliers
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry

5. MARKET SEGMENTATION (Market Size in Value (USD)

  • 5.1 By Application Type
    • 5.1.1 Structural Assembly
    • 5.1.2 Powertrain Component
    • 5.1.3 Interior
    • 5.1.4 Exterior
    • 5.1.5 Others
  • 5.2 By Material Type
    • 5.2.1 Thermoset Polymer
    • 5.2.2 Thermoplastic Polymer
    • 5.2.3 Carbon Fiber
    • 5.2.4 Glass Fiber
  • 5.3 By Geography
    • 5.3.1 North America
    • 5.3.1.1 United States
    • 5.3.1.2 Canada
    • 5.3.1.3 Rest of North America
    • 5.3.2 Europe
    • 5.3.2.1 Germany
    • 5.3.2.2 United Kingdom
    • 5.3.2.3 France
    • 5.3.2.4 Italy
    • 5.3.2.5 Rest of Europe
    • 5.3.3 Asia-Pacific
    • 5.3.3.1 China
    • 5.3.3.2 Japan
    • 5.3.3.3 India
    • 5.3.3.4 South Korea
    • 5.3.3.5 Rest of Asia-Pacific
    • 5.3.4 Rest of the World
    • 5.3.4.1 South America
    • 5.3.4.2 Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles
    • 6.2.1 Hexcel Corporation
    • 6.2.2 Mitsubishi Chemical Carbon Fiber and Composites, Inc.
    • 6.2.3 mouldCAM Pty Ltd.
    • 6.2.4 SGL Carbon SE
    • 6.2.5 Teijin Limited
    • 6.2.6 Toray Industries Inc
    • 6.2.7 Nippon Sheet Glass Company, Limited
    • 6.2.8 Solvay S.A.
    • 6.2.9 Nippon Carbon Co., Ltd.
    • 6.2.10 Huntsman International LLC.
    • 6.2.11 BFG International Group
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Automotive Composites Industry Segmentation

Composites are playing a pivotal role in the evolution of vehicles, making them lighter, safer, and more fuel-efficient. A composite material is formed by embedding high-performance fibers, like carbon or glass, into a matrix, usually an epoxy polymer. This combination yields properties that surpass those of the individual components.

The automotive composites market is segmented by application type, material type, and geography. By application type, the market is segmented as Structural Assembly, Powertrain Component, Interior, and Exterior. By Material Type, the market is segmented as Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, And Glass Fiber. By Geography, the market is segmented as North America, Europe, Asia-Pacific, and the Rest of the World. For each segment, the market sizing and forecast have been done based on the value (USD). 

By Application Type Structural Assembly
Powertrain Component
Interior
Exterior
Others
By Material Type Thermoset Polymer
Thermoplastic Polymer
Carbon Fiber
Glass Fiber
By Geography North America United States
Canada
Rest of North America
Europe Germany
United Kingdom
France
Italy
Rest of Europe
Asia-Pacific China
Japan
India
South Korea
Rest of Asia-Pacific
Rest of the World South America
Middle-East and Africa
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Automotive Composites Market Research Faqs

How big is the Automotive Composites Market?

The Automotive Composites Market size is expected to reach USD 10.06 billion in 2025 and grow at a CAGR of 12% to reach USD 17.72 billion by 2030.

What is the current Automotive Composites Market size?

In 2025, the Automotive Composites Market size is expected to reach USD 10.06 billion.

Who are the key players in Automotive Composites Market?

Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites, Inc., Toray Industries Inc, SGL Carbon SE and Teijin Limited are the major companies operating in the Automotive Composites Market.

Which is the fastest growing region in Automotive Composites Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Automotive Composites Market?

In 2025, the Asia Pacific accounts for the largest market share in Automotive Composites Market.

What years does this Automotive Composites Market cover, and what was the market size in 2024?

In 2024, the Automotive Composites Market size was estimated at USD 8.85 billion. The report covers the Automotive Composites Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Automotive Composites Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Automotive Composites Industry Report

Statistics for the 2025 Automotive Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. 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.