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
Automotive composites are widely applied in vehicle interiors, exteriors, and under-the-hood components to enhance efficiency and overall performance. Passenger vehicles are a prevalent transportation choice in North America, with their adoption steadily increasing due to rising per capita income. The automotive sector is experiencing consistent growth in vehicle production, driven by heightened customer demand and continuous technological advancements. Data from the Automotive Trade Manual in 2023 reported 19.18 million vehicle sales in North America. The American Automotive Policy Council projects that annual car sales will exceed 17.7 million vehicles by 2025.
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North America Automotive Composites Market Segmentation Analysis
The analysis of the automotive composites market is built upon an examination of key segments: 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 materials. The glass fiber composites segment was the predominant segment in 2023.
By resin type, the automotive composites market is bifurcated into thermoset resins (e.g., polyester, epoxy, vinyl ester, polyurethane, and other formulations) and thermoplastics (e.g., polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and various others). The thermoplastics segment held the largest market share in 2023.
From a technology standpoint, the automotive composites market includes pultrusion, injection molding, compression molding, and other manufacturing techniques. Injection molding was the primary technology in 2023.
In terms of vehicle type, the market is segmented into passenger cars, commercial vehicles, and two-wheelers and other vehicle types. Passenger cars commanded the largest share of the market in 2023.
Based on application, the automotive composites market is segmented into structural assembly, powertrain components, interior applications, and exterior applications. The interior segment was the market leader 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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