Global Automotive Polymer Composites Market to Reach USD 17.3 Billion by 2033, Stimulated by Rising Demand for Fuel-Efficient Vehicles

December 18, 2024 | Chemical & Materials

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According to the latest report by IMARC Group, titled “Automotive Polymer Composites Market by Resin Type (Epoxy, Polyurethane, Polyamide, Polypropylene, Polyethylene, Polyester, Vinyl Ester, and Others), Product (Glass Fiber Composites, Natural Fiber Composites, Carbon Fiber Composites), Manufacturing Process (Compression Molding, Injection Molding, Resin Transfer Molding, Sheet Molding), Application (Interior Components, Exterior Components, Structural Components, Powertrain Components), End Use (Conventional Vehicles, Electric Vehicles, Trucks and Buses), and Region 2025-2033,” the global automotive polymer composites market size reached USD 10.0 Billion in 2024. Automotive polymer composites refer to composite materials used in the automotive industry that combine polymers with reinforcing fibers or fillers to create lightweight, strong, and durable components for vehicles. These composites offer several advantages over traditional materials in terms of weight reduction, design flexibility, and performance. The composites can be tailored to specific requirements, allowing for complex shapes, improved aerodynamics, and enhanced fuel efficiency. They offer high strength-to-weight ratios, corrosion resistance, and the ability to dampen vibrations and noise. The automotive industry utilizes polymer composites in various applications, including body panels, bumpers, interior trim, engine components, and structural parts.

Global Automotive Polymer Composites Market Trends:

The market is majorly driven by the increasing demand for lightweight and fuel-efficient vehicles across the globe. Moreover, the growing government regulations and emission standards for the use of lightweight materials, such as polymer composites, are contributing to the growth of the market. Apart from this, the increasing focus on enhanced safety and crashworthiness is supporting the market as automotive polymer composites exhibit excellent energy absorption capabilities and impact resistance. Besides, ongoing advancements in polymer composite manufacturing techniques have led to cost reductions, increased production efficiency, and shorter manufacturing cycles, this is creating a positive market outlook. Also, with the rising demand for electric and hybrid vehicles, lightweight materials, such as polymer composites, are in high demand to optimize the vehicle's range and battery performance. Furthermore, the growing urban population and the rise of shared mobility services are impelling the demand for lightweight, fuel-efficient vehicles, as polymer composites play a crucial role in meeting the needs of compact, energy-efficient urban vehicles. Looking forward, the market value is projected to reach USD 17.3 Billion by 2033, expanding at a CAGR of 5.97% during 2025-2033.

Market Summary:

Based on the resin type, the market has been segmented into epoxy, polyurethane, polyamide, polypropylene, polyethylene, polyester, vinyl ester, and others. Currently, epoxy represents the largest market segment.
On the basis of the product, the market has been divided into glass fiber, natural fiber, and carbon fiber composites.
Based on the manufacturing process, the market has been bifurcated into compression, injection, resin transfer, and sheet moldings.
On the basis of the application, the market has been divided into interior, exterior, structural, and powertrain components. Among these, exterior components exhibit a clear dominance in the market.
Based on the end use, the market has been segmented into conventional vehicles, electric vehicles, trucks and buses.
Region-wise, the market has been segmented into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. Among these, Asia Pacific holds the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being BASF SE, Covestro AG, DuPont de Nemours Inc., SGL Carbon SE, Teijin Carbon Europe GmbH (Teijin Limited), and Toray Advanced Composites.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Resin Types Covered	Epoxy, Polyurethane, Polyamide, Polypropylene, Polyethylene, Polyester, Vinyl Ester, Others
Products Covered	Glass Fiber Composites, Natural Fiber Composites, Carbon Fiber Composites
Manufacturing Processes Covered	Compression Molding, Injection Molding, Resin Transfer Molding, Sheet Molding
Applications Covered	Interior Components, Exterior Components, Structural Components, Powertrain Components
End Uses Covered	Conventional Vehicles, Electric Vehicles, Trucks and Buses
Regions Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	BASF SE, Covestro AG, DuPont de Nemours Inc., SGL Carbon SE, Teijin Carbon Europe GmbH (Teijin Limited), Toray Advanced Composites, etc.
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Automotive Polymer Composites Market to Reach USD 17.3 Billion by 2033, Stimulated by Rising Demand for Fuel-Efficient Vehicles

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