Automotive Composite Market To Reach $36.13 Billion By 2033

Automotive Composite Market Growth & Trends

The global automotive composite market size is expected to reach USD 36.13 billion by 2033, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% from 2025 to 2033. Favorable emission control regulations, coupled with the growing demand for lightweight materials from the automotive industry, are anticipated to positively impact market growth.

Adoption of electric powertrains, coupled with regional fuel economy standards, is expected to play a crucial role in the adoption of composites in the automotive industry. Over the past few years, emission control regulations, coupled with fuel economy standards, have been driving the use of lightweight materials, including composites in the automotive industry.

These stringent emission regulations and fuel economy standards are further expected to drive the demand for automotive composites over the coming years. Moreover, government and consumer incentives in Europe for efficient and lightweight vehicles are expected to play a crucial role in driving the regional demand for automotive composites.

The automotive industry is one of the major industries contributing to the global economy. However, a decrease in demand and investment, coupled with supply chain disruptions and factory closures owing to the outbreak of the COVID-19 pandemic, is expected to hinder the growth of the automotive industry, thereby impacting the demand for automotive composites in 2020.

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Automotive Composite Market Report Highlights

• The polymer matrix composites product segment accounted for 74.92% revenue share in 2024 owing to its low cost and easy fabrication method, coupled with desirable mechanical properties, such as high tensile strength and abrasion resistance

• Exterior components led the automotive composite industry, with a 38.78% share in 2024

• The structural & powertrain components segment is expected to grow at the fastest CAGR of 6.6% over the forecast period, owing to rising R&D activities to increase the application scope of composites in structural and powertrain components

• Asia Pacific dominated the automotive composite market with a 50.8% share in 2024

• In January 2020, Teijin Limited announced to establish Teijin Automotive Center Europe GmbH (TACE) in Wuppertal, Germany through which the company will conduct concepts, designing, evaluations, prototyping, and technical research for automotive components.

Automotive Composite Market Segmentation

Grand View Research has segmented the global automotive composite market report based on product, application, and region:

Automotive Composite Product Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Polymer Matrix Composites

  • Glass Fiber Reinforced Polymer Composite

  • Natural Fiber Reinforced Polymer Composite

  • Carbon Fiber Reinforced Polymer Composite

• Metal Matrix Composites

• Ceramic Matrix Composites

Automotive Composite Application Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• Interior Components

• Exterior Components

• Structural & Powertrain Components

• Others

Automotive Composite Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Morocco

  • South Africa

List of Key Players in the Automotive Composite Market

• Solvay

• Toray Industries, Inc.

• SGL Carbon

• Teijin Limited

• Hexcel Corporation

• Mitsubishi Chemical Carbon Fiber and Composites, Inc.

• Johns Manville

• Gurit

• Plasan Carbon Composites

• TPI Composites

• GMS Composites

• IDI Composites International

• Revchem Composites

• Formaplex

• Owens Corning