Automotive Composites Market by Fiber (Glass, Carbon, Natural), by Resin Type (Thermoset, Thermoplastics), by Application (Exterior, Interior, Structure & Power train, Other), by By Geography (North America, Europe, Asia Pacific, South America, Middle East & Africa) Forecast 2024-2032
The Automotive Composites Market size was valued at USD 7.67 USD Billion in 2023 and is projected to reach USD 10.86 USD Billion by 2032, exhibiting a CAGR of 5.1 % during the forecast period. Composite materials are formed by combining two or more materials that have quite different properties. The different materials work together to give the composite unique properties. The use of composite materials in the automotive industry has increased in recent years. Automobiles require reliable, synchronized mechanisms with parts that can withstand friction, corrosion, and temperature fluctuations. Using composites materials offer significant benefits like helping to reduce mass, corrosion resistance providing a greater design freedom with higher space efficiency, faster assembly, better flame resistance and durability. The increasing demand for lightweight and fuel-efficient vehicles, coupled with stringent emission regulations, is propelling the market growth.
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The comprehensive Automotive Composites Market Report provides:
Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Aspects | Details |
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Study Period | 2018-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2018-2023 |
Growth Rate | CAGR of 5.1% from 2018-2032 |
Segmentation |
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Note* : In applicable scenarios
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