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Automotive Composites Market Forecast to Reach $14.7 Billion by 2033

By MGN EditorialFebruary 19, 2026 at 04:06 PM

The automotive composites market is expected to grow at a CAGR of 4.2% driven by demand for lightweight vehicles, stricter regulations, and the rise of electric cars.

According to a new report from Allied Market Research, the global automotive composites market is forecast to reach $14.7 billion by 2033, growing at a CAGR of 4.2% from 2023 to 2033. The key factors driving growth in this market include the rising demand for lightweight vehicles to improve fuel efficiency and performance, stricter emissions regulations in the automotive sector, and the increasing adoption of electric vehicles which require lightweight materials. 'The automotive industry's shift towards sustainability and fuel efficiency is a major catalyst for the automotive composites market,' said the lead analyst at Allied Market Research. 'Composites offer an attractive solution to automakers looking to reduce vehicle weight without sacrificing strength or safety.' Thermoset composites, which include materials like epoxy and polyester, currently dominate the market and are expected to maintain their lead. However, thermoplastic composites are projected to see the fastest growth as automakers seek out materials that can be more easily recycled. The report identifies Asia-Pacific as the largest and fastest-growing regional market for automotive composites, driven by the expansion of the automotive industry in countries like China, India, and Japan. Europe and North America are also key markets, supported by stringent fuel efficiency and emissions regulations. Leading industry players mentioned in the report include Toray Industries, Teijin Limited, Mitsubishi Chemical Holdings, Solvay, and Hexcel Corporation.
#automotive#composites#lightweight#emissions#electric vehicles

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