The ASEAN Automotive Composites Market size is expected to reach US$ 1,037.37 million by 2031 from US$ 542.60 million in 2024. The market is estimated to record a CAGR of 8.4% from 2025 to 2031.
Executive Summary and Market Analysis
The ASEAN automotive composites market is undergoing rapid growth, fueled by a rising demand for lightweight, fuel-efficient, and environmentally friendly vehicles. Composites, which are materials made from two or more separate components, are essential in automotive manufacturing. They significantly reduce vehicle weight while preserving crucial strength and durability. With governments and car manufacturers increasingly focused on sustainability and environmental protection, composites offer a vital solution. The accelerating shift to electric vehicles (EVs) and stricter fuel efficiency standards are intensely driving the need for lighter materials, thereby boosting the demand for automotive composites.
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ASEAN Automotive Composites Market Outlook
The ASEAN market for automotive composites is thriving, thanks to heightened investments in research and development. Advanced manufacturing processes like resin transfer molding and compression molding are enhancing production efficiency and cutting costs, making composites more widely adopted across various vehicle types. Additionally, the automotive industry's push for sustainability is fostering the development of bio-based and recyclable composite materials. As the region strengthens its position as a major player in the global automotive sector, the ASEAN automotive composites market is poised for consistent growth. This will be driven by technological innovation, environmental consciousness, and changing consumer demands. Thailand, Indonesia, and Malaysia have cemented their status as key automotive manufacturing hubs, hosting numerous global automakers' production facilities. These nations are actively embracing advanced materials technologies, including carbon fiber, glass fiber, and natural fiber composites, to improve vehicle performance and efficiency. Consumers are increasingly preferring premium and performance-oriented vehicles, which often incorporate high-performance composite materials. The growing adoption of composites is also encouraged by their superior corrosion resistance, design flexibility, and long-term cost-effectiveness, making them a preferred choice for both Original Equipment Manufacturers (OEMs) and aftermarket applications.
ASEAN Automotive Composites Market Segmentation
ASEAN Automotive Composites Market By Fiber Type
- Glass Fiber Composites
- Carbon Fiber Composites
ASEAN Automotive Composites Market By Resin Type
- Thermoset
- Thermoplastics
ASEAN Automotive Composites Market By Technology
- Pultrusion
- Injection Molding
- Compression Molding
ASEAN Automotive Composites Market By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
ASEAN Automotive Composites Market Regions and Countries Covered
ASEAN
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
ASEAN Automotive Composites Market - Market leaders and key company profiles
- Gurit Holdings AG
- Hexcel Corp
- Mitsubhishi Chemical Group
- SGL Carbon SE
- Solvay SA
- Teijin Ltd
- DuPont de Numours Inc
- Toray Industries
- Atlas Fibre
- Elaghmore Advisor LLP
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