The global automotive composites market size was US$ 23.1 billion in 2021. The global automotive composites market is forecast to grow to US$ 39.9 billion by 2030 by registering a compound annual growth rate (CAGR) of 7.1% during the forecast period from 2022 to 2030. 
Lightweight materials called composites for autos are frequently utilized in cars, trucks, and other vehicles. These materials are mostly recommended for lightening the weight of automobiles. Automotive interior, exterior, structural, and other applications all use composite materials.

Factors Influencing the Market
The growing demand for lightweight and fuel-efficient vehicles will primarily drive the growth of the global automotive composites market during the forecast period. The beneficial properties of automotive composites, such as low coefficients of thermal expansion, shape retention, resistance to corrosion, and ease of production, will also fuel the growth of the automotive composites market during the analysis period. 
Growing fuel prices will also offer growth opportunities for the automotive composites market. In addition, manufacturers are constantly focusing on integrating safety and comfort into their vehicles. Thus, it will accelerate the growth of the automotive composites market. 
Growing consumer disposable income and rising innovations in the automotive industry are forecast to be opportunistic for the market. Apart from that, governments are also imposing strict regulations to curb vehicular pollution. As a result, it will drive the demand for lightweight vehicles, thereby boosting the growth of the overall automotive composites market. 
On the flip side, high manufacturing and processing cost may limit the market growth during the study period.

COVID-19 Impact Analysis
The entire automotive sector went through an abrupt fall due to the COVID-19 disease outbreak. During the initial phase of the pandemic, manufacturing units closed operations. Moreover, it also affected consumer purchasing power, which ultimately hampered the growth of the automotive composites market.

Regional Analysis
The Asia-Pacific automotive composites market is forecast to record the highest growth of all the regions. Developing countries, including India, China, Japan, etc., are maintaining a strong foothold in the automotive sector. As a result of the presence of a large number of automotive manufacturers, the demand for automotive composites is expected to rise in the forthcoming years. Apart from that, other factors like the growing population and increasing living standards will significantly benefit the automotive composites market during the analysis period.
Governments in the region have also imposed strict regulations on the fuel efficiency of vehicles. Therefore, it will drive the demand for lightweight vehicles. In addition, the easy availability of raw materials such as engineering plastics and rubber will be opportunistic for the key players in the region.

Competitors in the Market
• SGL Carbon
• Teijin Limited
• Hexcel Corporation
• Solvay
• Toray Industries, Inc.
• Mitsubishi Chemical Carbon Fiber and Composites, Inc.
• Johns Manville
• Gurit
• Plasan Carbon Composites
• TPI Composites
• GMS Composites
• IDI Composites International
• Revchem Composites
• Formaplex
• Other prominent players

Market Segmentation
The global automotive composites market segmentation focuses on Fiber, resin, Manufacturing Process, Application, and Region. 
By Fiber:
• Glass-reinforced plastic (GRP)
• Carbon fiber reinforced plastic (CFRP)
• Natural fiber (NF)
By Resin:
• Thermoset
• Thermoplastic
By Manufacturing Process:
• Compression molding
• Injection molding
• RTM
• Other
By Application:
• Interior
• Exterior
• Structural
• Others 
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America