Automotive Polymer Matrix Composites Market size was valued at USD 5.67 Billion in 2024 and is projected to reach USD 12.34 Billion by 2033, exhibiting a CAGR of 9.15% from 2026 to 2033.
The global Automotive Polymer Matrix Composites (PMC) market was valued at USD 3.9 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030. The increasing demand for lightweight, fuel efficient, and high performance vehicles is driving the adoption of these composites. North America dominated the market in 2022, accounting for a significant market share of 38%. The regions growth is driven by the automotive industry’s focus on reducing carbon emissions and the rising demand for electric vehicles. Europe followed closely, holding a 32% share in 2022, with manufacturers prioritizing the development of advanced composites for electric vehicles and automotive applications. In the Asia Pacific region, the market is expected to exhibit the fastest growth during the forecast period, registering a CAGR of 8.4%. This growth is attributed to the regions expanding automotive sector, particularly in countries like China, Japan, and India, where there is increasing demand for high performance materials to enhance vehicle efficiency and reduce emissions.
In terms of regional opportunities, the Asia Pacific region holds immense potential due to the rapid industrialization and increasing automotive production in countries like China and India. The rising disposable incomes and changing consumer preferences towards lightweight vehicles are boosting the market in this region. Additionally, the demand for sustainable and environmentally friendly solutions in automotive manufacturing is expected to drive significant opportunities for growth in the coming years. Latin America and the Middle East & Africa are also anticipated to contribute to the overall market growth, with automotive industries in these regions focusing on vehicle weight reduction and fuel efficiency, creating new avenues for the Automotive PMC market. The markets expansion in these regions is expected to result in increased demand for advanced polymer matrix composites.
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Hexcel Corporation
Toray Industries
Hexagon Composites
TPI Composites
Owens Corning
Teijin Limited
Cytec Industries
Hexcel
DuPont
Owens Corning
Thermo Fisher
Mitsubishi Rayon
Solvay
TPI Composites
SGL Carbon
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Automotive Polymer Matrix Composites Market
Thermoplastics
Thermosets
Elastomers
Glass Fiber
Carbon Fiber
Natural Fiber
Aramid Fiber
Structural Components
Interior Components
Exterior Components
Chassis and Underbody Parts
Vehicle Components (like hoods, doors, etc.)
Compression Molding
Injection Molding
Filament Winding
Resin Transfer Molding (RTM)
Sheet Molding Compound (SMC) Process
OEMs (Original Equipment Manufacturers)
Aftermarket
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Automotive Polymer Matrix Composites Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Automotive Polymer Matrix Composites Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Automotive Polymer Matrix Composites Market, By Type
6. Global Automotive Polymer Matrix Composites Market, By Application
7. Global Automotive Polymer Matrix Composites Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Automotive Polymer Matrix Composites Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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