The North America Automotive Composites Market size is expected to reach US$ 4.21 billion by 2031 from US$ 2.05 billion in 2024. The market is estimated to record a CAGR of 9.4% from 2025 to 2031.
Executive Summary and North America Automotive Composites Market Analysis
The widespread use of automotive composites in a vehicle's interior, exterior, and under-the-hood areas is instrumental in improving efficiency and overall performance. Passenger vehicles are a common form of transportation in North America, with their usage expanding in line with increasing per capita income. Vehicle production is consistently rising due to heightened customer demand and ongoing technological innovation within the automotive sector. Data from the 2023 Automotive Trade Manual indicates that 19.18 million vehicles were sold across North America. A report from the American Automotive Policy Council projects annual car sales to exceed 17.7 million vehicles by 2025.
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North America Automotive Composites Market Segmentation Analysis
Key segments contributing to the automotive composites market analysis include product type, resin type, technology, vehicle type, and application.
Regarding product type, the automotive composites market is segmented into glass fiber composites, carbon fiber composites, and other composite categories. In 2023, glass fiber composites were the dominant segment.
Concerning resin type, the automotive composites market is categorized into thermoset resins (e.g., polyester, epoxy, vinyl ester, polyurethane, and others) and thermoplastic resins (e.g., polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and various other types). Thermoplastics secured the largest market share in 2023.
From a technology standpoint, the automotive composites market encompasses pultrusion, injection molding, compression molding, and other manufacturing techniques. Injection molding was the leading technology in 2023.
By vehicle type, the market is segmented into passenger cars, commercial vehicles, and two-wheelers and other categories. Passenger cars held the most significant market share in 2023.
For application, the automotive composites market is divided into structural assembly, powertrain components, interior uses, and exterior uses. The interior segment showed market leadership in 2023.
North America Automotive Composites Market Segmentation
North America Automotive Composites Market By Fiber Type
- Glass Fiber Composites
- Carbon Fiber Composites
North America Automotive Composites Market By Resin Type
- Thermoset
- Thermoplastics
North America Automotive Composites Market By Technology
- Pultrusion
- Injection Molding
- Compression Molding
North America Automotive Composites Market By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
North America Automotive Composites Market Regions and Countries Covered
North America
- US
- Canada
- Mexico
North America 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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