Automotive Composites Market Share

Market Share of Automotive Composites Industry

Key players like Teijin Ltd, Toray Industries Inc., Mitsubishi Chemical Carbon Fiber and Composites, Inc., and SGL Carbon lead the Automotive Composites Market. These companies are innovating new composites aimed at significantly reducing vehicle weight. For instance,

• In October 2023, Toray Industries, Inc. unveiled TORAYCA carbon fiber, a lightweight material that bolsters the performance of carbon-fiber-reinforced plastics. This breakthrough not only lightens the load across diverse applications but also curtails environmental impact by championing efficiency. With its standout attributes, TORAYCA is poised to revolutionize sectors such as aerospace and automotive, driving enhancements in fuel efficiency and a reduction in carbon emissions.
• In July 2023, BMW AG allocated USD 224 million in South Africa, enhancing its electric vehicle production facilities to meet the surging global demand for EVs. This move not only amplifies the demand for lightweight manufacturing composite materials but also solidifies BMW's foothold in the local market. Furthermore, the investment bolsters the local economy by generating employment opportunities and championing sustainable innovation.

Automotive Composites Market Leaders

1. Hexcel Corporation

2. Mitsubishi Chemical Carbon Fiber and Composites, Inc.

3. Toray Industries Inc

4. SGL Carbon SE

5. Teijin Limited

*Disclaimer: Major Players sorted in no particular order