The Automotive Composites Companies quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Automotive Composites. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and industry trends. MarketsandMarkets 360 Quadrants evaluated over 50 Automotive Composites Companies of which the Top 12 Automotive Composites Companies were categorized and recognized as the quadrant leaders.

Automotive composites are the result from combining fiber reinforcement with a compatible polymer matrix, which can consist of either thermoset resin or thermoplastic resin. The reinforcement fibers employed in automotive composites include glass fiber, carbon fibers, natural fibers, and aramid fibers.

The 360 Quadrant maps the automotive composites companies based on criteria such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies for the market presence of the Automotive Composites quadrant. While the top criteria for product footprint evaluation included Fiber (Glass, Carbon, Others), Resin (Thermoset, Thermoplastic), Applications (Exterior, Interior, Powertrain & Chassis, Battery Enclosures).

Key trends highlighted in 360 Quadrants:

• The automotive composites market is anticipated to experience substantial expansion, progressing from a valuation of USD 7.2 billion in 2022 to an estimated USD 14.3 billion by 2028, with a CAGR of 12.1% throughout the forecast period. This growth is attributed to the heightened awareness among OEMs regarding stringent government regulations on emission control and fuel efficiency. The automotive composites sector is witnessing significant development due to its myriad advantages, including reduced weight, high strength-to-weight ratio, and resistance to adverse weather conditions, thereby driving increased adoption across various applications within the automotive industry.
• In 2022, the global automotive composites market was dominated by the Asia Pacific region, and a robust growth trajectory is anticipated with a projected high CAGR of 13.4% between 2023 and 2028. The Asia Pacific region is serving as the hub for globally renowned automakers and holds immense potential to drive the automotive composites market forward in the near future. Additionally, the imperative to enhance fuel efficiency through the adoption of lightweight materials has further fueled the demand for composites in automotive applications, underlining a significant factor propelling product demand across the region. This dynamic landscape profoundly impacts automotive composites companies, positioning them to leverage the burgeoning opportunities within the thriving Asian automotive composite market.
• In the field of automotive composites, glass fiber dominates the market, constituting the largest share, while carbon fiber composites emerge as the fastest-growing segment. These glass fiber-reinforced composites comprise minuscule glass fibers bound by plastic polymer resin, presenting a compelling material choice for automotive composite manufacturers. The widespread preference for glass fiber is attributable to its numerous advantages, encompassing cost-effectiveness, stability, robustness, lightweight properties, durability, flexibility, and resilience against heat and moisture. This significant market trend holds profound implications for automotive composites companies, shaping their strategies and emphasizing the crucial role of glass fiber in meeting diverse performance criteria and economic considerations within the dynamic automotive sector. As automotive composites companies navigate this landscape, understanding the accelerating demand for carbon fiber composites becomes pivotal, indicating an evolving market landscape that necessitates adaptation and innovation for sustained competitiveness.
• The automotive composites market, with a substantial 49.2% share attributed to the exterior application segment in 2022, is witnessing a significant impact on Automotive Composites Companies. A standout projection is the battery enclosures application, anticipated to grow at a robust 25.8% CAGR in terms of value, driven by the escalating sales and production of electric vehicles. Notably, composites in battery enclosures offer a substantial 40% weight reduction compared to their aluminum counterparts, contributing to increased vehicle efficiency and a more economical driving range. For automotive composites companies, this trend highlights a strategic growth opportunity in aligning with the demand for lightweight and efficient solutions amid the accelerating adoption of electric mobility.
• The stringent regulations imposed by governments, such as the Corporate Average Fuel Efficiency (CAFE) standards in the US and the European Emission Standards (EES) in Europe, have propelled the automotive industry towards a focus on lightweight materials to enhance fuel efficiency and reduce greenhouse gas emissions. With the United States Environmental Protection Agency (EPA) highlighting the transportation industry's significant contribution to emissions, US automakers are particularly compelled to meet average miles per gallon standards for their vehicles. This shift towards lightweighting is driving the adoption of advanced materials, and composites emerge as a preferred choice over traditional heavy materials like steel and aluminum for car body fabrication. Automotive composites companies are poised to experience increased demand as car manufacturers strive to comply with these regulatory requirements by producing lighter vehicles, thereby contributing to environmental sustainability and meeting government standards for fuel efficiency. As a result, the automotive composites sector is likely to witness growth opportunities and increased significance in the evolving landscape of the automotive industry.
• Leading automotive composites companies such as Magna, SGL Carbon SE, and Teijin Limited are actively engaged in expanding their influence in the global automotive composites market. These key players hold substantial market shares, driven by their advanced technologies, extensive geographical reach, diverse product portfolios, and strategic growth initiatives. The major strategies adopted by the automotive composites’ companies include investments & expansions, mergers & acquisitions, and agreements & partnerships in order to strengthen their position in the market. For instance, In March 2023, SGL Carbon unveiled a new 50k carbon fiber at JEC World 2023. The new SIGRAFIL C T50-4.9/235 carbon fiber is designed to meet the high strength requirements for common pressure vessel designs and exhibits a high elongation capacity. Through this the company expands material portfolio with new carbon fiber for high-strength pressure vessels.