Global & Saudi Arabia Automotive Composites Market to 2031

Saudi Arabia's automotive composites market is growing as the nation works to improve the performance and sustainability of its automotive sector. The rising demand for lightweight, fuel-efficient vehicles is driving the increased use of composite materials like fiberglass, carbon fiber, and natural fibers, which help lower vehicle weight, boost fuel efficiency, and comply with stricter emission regulations. In line with its Saudi Vision 2030 goals to diversify the economy beyond oil, the country is making significant investments in this sector. For example, in November 2022, the Saudi Investment Fund partnered with Foxconn to launch a project aimed at establishing electric vehicle manufacturing capacity by 2025 in King Abdullah Economic City. This initiative supports Vision 2030’s objective to develop a domestic automotive brand and create local supply chains, enabling competitive pricing against imported vehicles. Saudi Arabia’s focus on economic diversification, green technology investment, and growing EV interest is driving greater adoption of composite materials in the automotive industry.