United States Automotive Composites Market Report and Forecast 2024-2032

United States Automotive Composites Market Report and Forecast 2024-2032

United States Automotive Composites Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the United States automotive composites market is projected to grow at a CAGR of 5.80% between 2024 and 2032. Aided by the increasing demand for lightweight vehicles, stringent environmental regulations, and advancements in composite material technologies, the market is expected to grow significantly by 2032.

Automotive composites are revolutionising the automotive sector, offering unmatched benefits in terms of weight reduction, fuel efficiency, and performance enhancement. Comprising materials such as carbon fibre, glass fibre, and natural fibres, these composites are becoming integral in the manufacturing of vehicles, from passenger cars to commercial vehicles. Their application spans various vehicle components, including body panels, frames, interiors, and powertrain systems, contributing to the development of safer, more efficient, and environmentally friendly vehicles.

As per the United States automotive composites market analysis, the regulatory push towards reducing vehicle emissions and improving fuel economy has led automakers to adopt lightweight materials like composites to decrease vehicle weight and enhance fuel efficiency. Additionally, the growing consumer preference for high-performance and aesthetically appealing vehicles is driving the demand for automotive composites.

Technological advancements in composite materials and manufacturing processes are enabling the production of composites that are not only lightweight but also strong and durable. As per the United States automotive composites market outlook, innovations in recycling and material science are addressing concerns related to the cost and environmental impact of composite materials. Moreover, the electric vehicle (EV) revolution is significantly influencing the market. As EVs gain popularity, the need for lightweight materials to extend battery range and improve efficiency becomes paramount, positioning composites as a key material in EV design and manufacturing.

One notable trend boosting the United States automotive composites market growth is the increasing use of carbon fibre composites for high-performance and luxury vehicles, offering unparalleled strength-to-weight ratios. This trend is extending to mainstream vehicles as manufacturing costs decline and carbon fibre becomes more accessible. Another significant trend is the development of bio-based composites, which use natural fibres and resins derived from renewable resources. This shift towards sustainable materials reflects the automotive sector’s commitment to environmental stewardship and the circular economy.

There is a growing trend towards the development and use of hybrid composite structures, which combine different types of fibres, such as carbon and glass, in a single composite material, contributing to the United States automotive composites market share This approach allows manufacturers to optimise the balance between cost, weight, and performance, tailoring materials to specific application requirements within vehicles. Hybrid composites offer a versatile solution that can meet the diverse needs of the automotive sector, from enhancing structural integrity to reducing production costs.

The adoption of advanced manufacturing techniques, such as automated fibre placement (AFP) and automated tape laying (ATL), is becoming more prevalent in the automotive composites market in the United States. These methods increase the precision and efficiency of composite part production, enabling the creation of complex shapes and designs that were previously challenging or costly to produce. As these techniques continue to mature, they will further lower the barriers to composite adoption in automotive applications, driving innovation and differentiation in vehicle design.

With increasing environmental concerns and regulatory pressures, there is a stronger focus on the recyclability and sustainability of automotive composites. Research and development efforts are geared towards creating composites that are easier to recycle at the end of their lifecycle and developing bio-based composites made from renewable resources, which further propels the United States automotive composites market expansion. This trend not only addresses environmental challenges but also aligns with consumer demand for more sustainable automotive products.

Market Segmentation

The market can be divided based on production process, material type, vehicle type, application, and region.

Market Breakup by Production Process

• Injection Moulding Process
• Compression Moulding Process
• Resin Transfer Moulding Process
• Others

Market Breakup by Material Type

• Thermoset Polymer
• Thermoplastic Polymer
• Glass Fibre
• Carbon Fibre
• Others

Market Breakup by Vehicle Type

• Electric Vehicles (EV)
• Non-Electric Vehicles

Market Breakup by Application

• Exterior Components
• Interior Components
• Structural and Powertrain Components
• Others

Market Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United States automotive composites market. Some of the major players explored in the report by Expert Market Research are as follows:

• Mitsubishi Chemical Group Corp.
• SGL Carbon SE
• Toray Industries Inc.
• Owens Corning
• Solvay S.A.
• Teijin Limited
• Hexcel Corporation
• BASF SE
• Sigmatex
• Huntsman International LLC
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report. Show more