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Asia-Pacific Automotive Composites Market Size (2024 - 2029)

The Asia-Pacific Automotive Composites Market is anticipated to experience growth despite challenges such as declining vehicle sales and trade tensions. The demand for lightweight components is increasing due to their fuel efficiency and ability to reduce harmful emissions, contributing to the market's expansion. Although the region remains the largest automobile market globally, factors like the United States-China trade war and unclear emission standards are impacting the automotive sector's growth trajectory.

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Market Size of Asia-Pacific Automotive Composites Industry

Asia Pacific Automobile Composites Market_Overview
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 5.00 %
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order

APAC Automotive Composites Market Analysis

The Asia-Pacific Automotive Composites Market is projected to grow with a CAGR of more than 5 % during the forecast period.

  • The increasing global temperature because of the emission of harmful gases in the atmosphere by automobiles the demand for light weight components are rising as they are more fuel efficient and reduces emission of these gases in the atmosphere.
  • Despite the downfall of sales in the passenger and commercial vehicles, the region still is the biggest automobile market in the world. With around 36 million passenger vehicles being sold in the region during the year 2019.
  • However, because of the ongoing trade war between United States and China along with the confusion over the emission standards in the region, the growth in automotive sector is slowing down and the automobile sales are expected to witness a downfall for a couple of years until the end of trade tensions.

APAC Automotive Composites Industry Segmentation

The Asia-Pacific Automotive Composites Market is Segmented by Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, and Compression Molding), Material Type (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, and Others), Application Type (Structural Assemble, Power Train Components, Interior, Exterior and Others) and Country. Along with the major players, their strategies, innovations, technological advancements and financials are also covered in the report.

Production Type
Hand Layup
Resin Transfer Molding
Vaccum Infusion Processing
Compression Molding
Material Type
Thermoset Polymer
Thermoplastic Polymer
Carbon Fiber
Others
Application Type
Structural Assembly
Power Train Components
Interior
Exterior
Others
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Asia-Pacific Automotive Composites Market Size Summary

The Asia-Pacific Automotive Composites Market is experiencing a dynamic phase of growth, driven by the increasing demand for lightweight and fuel-efficient vehicles. This demand is largely fueled by the need to reduce emissions and improve fuel efficiency, as global temperatures rise due to harmful gas emissions from automobiles. Despite a downturn in vehicle sales, the region remains the largest automobile market globally, with significant investments from auto manufacturers in developing innovative composites. These materials, which combine multiple constituents, are crucial in reducing vehicle weight, thereby enhancing safety and fuel efficiency. The market is also witnessing a shift towards recyclable and bio-based composites, aligning with the growing emphasis on sustainability and environmental responsibility.

The market landscape is characterized by a fragmented structure with numerous players holding small market shares. Key companies such as 3B-Fiberglass, Solvay, BASF, and Teijin are actively engaging in strategic partnerships and collaborations to expand their market presence and leverage advanced materials technology. Notable initiatives include joint ventures and partnerships aimed at developing innovative composite solutions, such as the collaboration between Magna and GAC Component Co., Ltd. in China. These strategic moves are designed to meet the rising demand for automobiles both domestically and globally, as well as to capitalize on the region's position as a major exporter of vehicles. The ongoing trade tensions and emission standard uncertainties pose challenges, yet the market continues to evolve with a focus on research and development to drive future growth.

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Asia-Pacific Automotive Composites Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Porters Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Production Type

      1. 2.1.1 Hand Layup

      2. 2.1.2 Resin Transfer Molding

      3. 2.1.3 Vaccum Infusion Processing

      4. 2.1.4 Compression Molding

    2. 2.2 Material Type

      1. 2.2.1 Thermoset Polymer

      2. 2.2.2 Thermoplastic Polymer

      3. 2.2.3 Carbon Fiber

      4. 2.2.4 Others

    3. 2.3 Application Type

      1. 2.3.1 Structural Assembly

      2. 2.3.2 Power Train Components

      3. 2.3.3 Interior

      4. 2.3.4 Exterior

      5. 2.3.5 Others

Asia-Pacific Automotive Composites Market Size FAQs

The Asia-Pacific Automotive Composites Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

3B-Fiberglass, Solvay, Teijin , Gurit and BASF are the major companies operating in the Asia-Pacific Automotive Composites Market.

Asia-Pacific Automotive Composites Report Snapshots

Asia-Pacific Automotive Composites Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)