Automotive Composites Market Size

Automotive Composites Market size was valued at USD 13.69 billion in 2024 and is likely to reach USD 31.33 billion by the end of 2037, registering around 6.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of automotive composites is assessed at USD 14.41 billion.

The growth of the automotive composites market is primarily attributed to the 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 growth of the automotive carbon fiber composites market. In the fiscal year 2018, the Indian automotive industry employed approximately 2 million people.