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 automotive composites market in ASEAN is experiencing significant growth, driven by the increasing demand for lightweight, fuel-efficient, and sustainable vehicles. Composites, made from two or more distinct components, are integral in producing automotive parts due to their ability to reduce weight while maintaining strength and durability. As governments and automotive manufacturers prioritize sustainability and environmental concerns, composites are a key solution for meeting these objectives. The shift toward EVs and stricter fuel efficiency standards propels the need for lighter materials, thus boosting the demand for automotive composites.
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ASEAN Automotive Composites Market Outlook
The ASEAN market for automotive composites benefits from increased research and development investments. Innovations in composite manufacturing processes, such as resin transfer molding and compression molding, improve production efficiency and reduce costs, making composites more accessible for a broader range of vehicles. Furthermore, the automotive industry's shift toward sustainability fosters the development of bio-based and recyclable composite materials. As the region continues to evolve as a key player in the global automotive sector, the ASEAN automotive composites market is expected to witness steady growth, driven by technological advancements, environmental considerations, and changing consumer demands. Thailand, Indonesia, and Malaysia have established themselves as major automotive manufacturing hubs, with many global automakers having production facilities. These nations are embracing advanced materials technology, including carbon fiber, glass fiber, and natural fiber composites, to enhance the performance and efficiency of vehicles. Consumers are increasingly preferring premium and performance-oriented cars, which often incorporate high-performance composite materials. The growing adoption of composites is also spurred by their advantages in corrosion resistance, design flexibility, and cost-effectiveness over time, making them a popular choice for both OEMs (Original Equipment Manufacturers) 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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