Automotive Composites Market Share

Asia Pacific Market Forecast

The Asia Pacific region automotive composites market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2037 on the back of increased demand for vehicles among the population. The total production of vehicles in the region was 46,732,785 units in 2021, a rise from 44,276,549 units in 2020. Similarly, the total sales in the region were 42,663,736 units in 2021, a rise from 40,322,544 in 2020 as per statistics released by the International Organization of Motor Vehicles. In addition, the presence of major key players and leading exporters and importers of vehicles in the region is expected to offer growth opportunities for the automotive composites market growth in the forecast period. In 2021, China exported around 402,000 commercial vehicles and 1.6 million passenger vehicles.