Automotive Composites Market Outlook:
Automotive Composites Market size was valued at USD 9.53 billion in 2024 and is set to exceed USD 33.81 billion by 2034, expanding at over 13.5% CAGR during the forecast period i.e., between 2025-2034. In the year 2025, the industry size of automotive composites is evaluated at USD 10.62 billion.
The market growth is primarily attributed to expansion of the automotive industry in recent industry, rising fuel costs, and need for more fuel, and an increasing number of vehicles on conventional technology. Further, the global automotive industry is expected to reach approximately USD 9 trillion by 2030.
Composites are being heavily utilized in the automotive industry for reducing the weight of automobiles. These automotive composites are the preferred material in applications of exterior and interior. Thus, the high employment rate in the automotive industry is forecasted to increase the utilization of car composites owing to their excellent dimensional stability, highly resistant, high tensile strength, chemical, and abrasion resistance are estimated to propel the market revenue.
