North America Automotive Composites Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
Description
The North America Automotive Composites Market size is expected to reach US$ 4.21 billion by 2031 from US$ 2.04 billion in 2024. The market is estimated to record a CAGR of 11.3% from 2025 to 2031.
Executive Summary and North America Automotive Composites Market Analysis:
Automotive composites are widely used in automobiles' interior, exterior, and under-the-hood parts to increase efficiency and performance. Passenger vehicles are among the most common transportation modes in the region, and their use is rising with the rise in per capita income. The production of vehicles is consistently increasing due to the escalating demand from customers and technological advancements in the automotive industry. According to data published by the Automotive Trade Manual in 2023, 19.18 million vehicles were sold in North America. As per a report by the American Automotive Policy Council, car sales are expected to exceed 17.7 million vehicles per year by 2025.
North America Automotive Composites Market Segmentation Analysis:
Key segments that contributed to the derivation of the automotive composites market analysis are product type, resin type, technology, vehicle type, and application.
Based on product type, the automotive composites market is segmented into glass fiber composites, carbon fiber composites, and others. The glass fiber composites segment dominated the market in 2024.
By resin type, the automotive composites market is divided into thermoset (polyester, epoxy, vinyl ester, polyurethane, and others) and thermoplastics (polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and others). The thermoplastics segment dominated the market in 2024.
On the basis of technology, the automotive composites market is segmented into pultrusion, injection molding, compression molding, and others. The injection molding segment dominated the market in 2024.
In terms of vehicle type, the market is segmented into passenger cars, commercial vehicles, two-wheelers, and others. The passenger cars segment held the largest share of the market in 2024.
Based on application, the automotive composites market is segmented into structural assembly, powertrain component, interior, and exterior. The interior segment dominated the market in 2024.
North America Automotive Composites Market Outlook
North America has well-established automotive manufacturers such as Audi AG, Bayerische Motoren Werke AG, Stellantis NV, Ford Motor Company, Honda Motor Co Ltd, Hyundai Motor Company, Mercedes Benz, and Volkswagen Group. Foreign automotive manufacturers are anticipated to become part of the mainstream automotive industry in North America to increase their market share, which is expected to benefit the demand for composites. Therefore, the growth of the automotive industry is projected to drive the demand for automotive composites in North America.
North America Automotive Composites Market Country Insights
The North American automotive composites market is further segmented by region into the US, Canada, and Mexico. The US held the largest share in 2024.
The automotive sector is one of the largest manufacturing sectors in the US. According to Kroll Inc, the US sold 15.5 million vehicles in 2023. Production is predicted to increase in the coming years, resulting in higher inventories and potential sales incentives. The number of battery electric vehicle (BEV) models is expected to surpass 100 by 2024, offering customers more choices across segments and price points. Automotive composites are widely used in body panels, bumpers, interior components, structural elements, battery enclosures in electric vehicles, engine components, and underbody shields to reduce weight, enhance performance, improve safety, and meet sustainability goals. Increased demand for luxury cars and a rise in expenditure for car detailing and maintenance are among the key factors contributing to the demand for automotive composites in the US.
North America Automotive Composites Market Company Profiles
Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours Inc, Toray Industries Inc, Atlas Fibre, and Elaghmore Advisor LLP are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive and offer innovative products to their consumers.
Executive Summary and North America Automotive Composites Market Analysis:
Automotive composites are widely used in automobiles' interior, exterior, and under-the-hood parts to increase efficiency and performance. Passenger vehicles are among the most common transportation modes in the region, and their use is rising with the rise in per capita income. The production of vehicles is consistently increasing due to the escalating demand from customers and technological advancements in the automotive industry. According to data published by the Automotive Trade Manual in 2023, 19.18 million vehicles were sold in North America. As per a report by the American Automotive Policy Council, car sales are expected to exceed 17.7 million vehicles per year by 2025.
North America Automotive Composites Market Segmentation Analysis:
Key segments that contributed to the derivation of the automotive composites market analysis are product type, resin type, technology, vehicle type, and application.
Based on product type, the automotive composites market is segmented into glass fiber composites, carbon fiber composites, and others. The glass fiber composites segment dominated the market in 2024.
By resin type, the automotive composites market is divided into thermoset (polyester, epoxy, vinyl ester, polyurethane, and others) and thermoplastics (polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and others). The thermoplastics segment dominated the market in 2024.
On the basis of technology, the automotive composites market is segmented into pultrusion, injection molding, compression molding, and others. The injection molding segment dominated the market in 2024.
In terms of vehicle type, the market is segmented into passenger cars, commercial vehicles, two-wheelers, and others. The passenger cars segment held the largest share of the market in 2024.
Based on application, the automotive composites market is segmented into structural assembly, powertrain component, interior, and exterior. The interior segment dominated the market in 2024.
North America Automotive Composites Market Outlook
North America has well-established automotive manufacturers such as Audi AG, Bayerische Motoren Werke AG, Stellantis NV, Ford Motor Company, Honda Motor Co Ltd, Hyundai Motor Company, Mercedes Benz, and Volkswagen Group. Foreign automotive manufacturers are anticipated to become part of the mainstream automotive industry in North America to increase their market share, which is expected to benefit the demand for composites. Therefore, the growth of the automotive industry is projected to drive the demand for automotive composites in North America.
North America Automotive Composites Market Country Insights
The North American automotive composites market is further segmented by region into the US, Canada, and Mexico. The US held the largest share in 2024.
The automotive sector is one of the largest manufacturing sectors in the US. According to Kroll Inc, the US sold 15.5 million vehicles in 2023. Production is predicted to increase in the coming years, resulting in higher inventories and potential sales incentives. The number of battery electric vehicle (BEV) models is expected to surpass 100 by 2024, offering customers more choices across segments and price points. Automotive composites are widely used in body panels, bumpers, interior components, structural elements, battery enclosures in electric vehicles, engine components, and underbody shields to reduce weight, enhance performance, improve safety, and meet sustainability goals. Increased demand for luxury cars and a rise in expenditure for car detailing and maintenance are among the key factors contributing to the demand for automotive composites in the US.
North America Automotive Composites Market Company Profiles
Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours Inc, Toray Industries Inc, Atlas Fibre, and Elaghmore Advisor LLP are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive and offer innovative products to their consumers.
Table of Contents
152 Pages
- 1. Introduction
- 1.1 Business Market Insights Research Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Market Insights
- 2.2 Market Attractiveness
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
- 4. North America Automotive Composites Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 5. North America Automotive Composites Market – Key Market Dynamics
- 5.1 Growth Drivers
- 5.1.1 Demand for Lightweight Materials
- 5.1.2 Rise of Electric and Hybrid Vehicles
- 5.1.3 Increased Demand for Durability and Performance
- 5.2 Market Opportunities
- 5.2.1 Growing Adoption of Lightweight Composites for Fuel Efficiency
- 5.2.2 Increased Use of Composites in Electric Vehicles
- 5.2.3 Development of Recyclable and Sustainable Composites
- 5.3 Future Trends
- 5.3.1 Increased Use of Carbon Fiber Composites
- 5.3.2 Advancements in Recycling and Sustainability
- 5.3.3 Integration of Smart Materials in Automotive Composites
- 5.4 Impact of Drivers and Restraints
- 6. North America Automotive Composites Market Regional Analysis
- 6.1 North America Automotive Composites Market Overview
- 6.2 North America Automotive Composites Market Revenue 2021-2031 (US$ Billion)
- 6.3 North America Automotive Composites Market Forecast Analysis
- 7. North America Automotive Composites Market Analysis – by Fiber Type
- 7.1 Glass Fiber Composites
- 7.1.1 Overview
- 7.1.2 Glass Fiber Composites: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 7.2 Carbon Fiber Composites
- 7.2.1 Overview
- 7.2.2 Carbon Fiber Composites: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 8. North America Automotive Composites Market Analysis – by Resin Type
- 8.1 Thermoset
- 8.1.1 Overview
- 8.1.2 Thermoset: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 8.2 Thermoplastics
- 8.2.1 Overview
- 8.2.2 Thermoplastics: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 9. North America Automotive Composites Market Analysis – by Technology
- 9.1 Pultrusion
- 9.1.1 Overview
- 9.1.2 Thermoplastics: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 9.2 Injection Molding
- 9.2.1 Overview
- 9.2.2 Thermoplastics: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 9.3 Compression Molding
- 9.3.1 Overview
- 9.3.2 Thermoplastics: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 10. North America Automotive Composites Market – North America Analysis
- 10.1 North America
- 10.1.1 North America Automotive Composites Market Breakdown, by Key Country, 2025 and 2031 (%)
- 10.1.1.1 North America Automotive Composites Market – Revenue and Forecast Analysis – by Country
- 10.1.1.1 US: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.1.1 US: North America Automotive Composites Market Breakdown, by Fiber Type
- 10.1.1.1.2 US: North America Automotive Composites Market Breakdown, by Resin Type
- 10.1.1.1.3 US: North America Automotive Composites Market Breakdown, by Technology
- 10.1.1.2 Canada: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.2.1 Canada: North America Automotive Composites Market Breakdown, by Fiber Type
- 10.1.1.2.2 Canada: North America Automotive Composites Market Breakdown, by Resin Type
- 10.1.1.2.3 Canada: North America Automotive Composites Market Breakdown, by Technology
- 10.1.1.3 Mexico: North America Automotive Composites Market – Revenue and Forecast to 2031 (US$ Billion)
- 10.1.1.3.1 Mexico: North America Automotive Composites Market Breakdown, by Fiber Type
- 10.1.1.3.2 Mexico: North America Automotive Composites Market Breakdown, by Resin Type
- 10.1.1.3.3 Mexico: North America Automotive Composites Market Breakdown, by Technology
- 11. Competitive Landscape
- 11.1 Heat Map Analysis
- 11.2 Company Positioning and Concentration
- 12. North America Automotive Composites Market Industry Landscape
- 12.1 Overview
- 12.2 Mergers and Acquisitions
- 12.3 Agreements, Collaborations, and Joint Ventures
- 12.4 New Product Launches
- 12.5 Expansions and Other Strategic Developments
- 13. Company Profiles
- 13.1 Gurit Holdings AG
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Hexcel Corp
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Mitsubhishi Chemical Group
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 SGL Carbon SE
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Solvay SA
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Teijin Ltd
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 DuPont de Numours Inc
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Toray Industries
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Atlas Fibre
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Elaghmore Advisor LLP
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
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