The global Automotive Composites market was worth US$ 6,748 million in 2020.
The global Automotive Composites market is expected to register a CAGR of 6.2% between 2022 and 2032.
Major players operating in the global Automotive Composites market include Toho Tenax Co., Ltd., SGL Group, Toray Industries, Inc., Solvay S.A., Owens Corning and Gurit.
As demand for cars is growing around the world, there will also be a substantial growth in demand for high-level vehicles. Car manufacturers worldwide are working to reduce vehicle weight. In addition, emission control and improved performance are other objectives to be achieved by global car manufacturers. The above factors are expected to significantly increase demand for lightweight materials, such as carbon fiber composites, which is expected to foster growth on the market for automobile composites in the near future
Based on type, the Automotive Composites market is segmented into Carbon and Glass.
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