Automotive Glass Fiber Composites Market to Grow with a CAGR of 4.3% through 2030
The automotive glass fiber composites market is driven by three key
factors: the increasing demand for lightweight materials to improve fuel
efficiency, technological advancements in composite materials, and the growing
trend toward sustainable automotive manufacturing. These factors are driving
the market in the forecast period 2026-2030.
According to TechSci Research report, “Automotive Glass Fiber
Composites Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2020-2030F”, The Global Automotive Glass Fiber Composites
Market was valued at USD 9.9 Billion in 2024 and is expected to reach USD 12.3 Billion by 2030 with a CAGR of 4.3% during the forecast period. The automotive glass fiber composites market is gaining momentum due to
the rising need for lightweight, durable, and eco-friendly materials in vehicle
manufacturing. The primary driving factor is the automotive industry's focus on
enhancing fuel efficiency and reducing CO2 emissions. Glass fiber composites
help reduce vehicle weight, contributing to better fuel economy, which is
crucial given the strict environmental regulations worldwide. These materials
also offer the added benefit of corrosion resistance and improved mechanical
properties, making them an ideal solution for various automotive applications.
Technological advancements in glass fiber composite manufacturing are
another significant driver. The ongoing innovation in resin systems, as well as
advancements in automation, is making the production of composites more
cost-effective and efficient. These innovations improve material strength,
increase production scalability, and reduce manufacturing costs. As a result,
automakers are increasingly adopting these composites in both interior and
exterior automotive components.
The growing shift toward sustainability also plays a crucial role in the
market's expansion. As automotive manufacturers focus on reducing their
environmental footprint, glass fiber composites provide an attractive option
due to their recyclability and reduced weight, contributing to lower emissions
and fuel consumption. However, challenges such as high production costs and
limited raw material availability persist. Despite these obstacles, the
increasing adoption of electric vehicles and a rising demand for
high-performance automotive parts are set to drive market growth in the
forecast period.
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Automotive Glass Fiber Composites
Market Is Segmented by Type, Application, and By Region.
Based on application, the structural assembly segment is emerging as the fastest-growing segment within the global automotive glass fiber composites market. This growth is primarily driven by the increasing demand for lightweight, durable, and cost-effective materials that enhance vehicle performance and fuel efficiency while meeting stringent emission regulations. Glass fiber composites are being widely adopted in structural applications such as body panels, chassis components, and other load-bearing parts, particularly in electric vehicles where weight reduction is critical to improving battery range. As automotive manufacturers continue to prioritize sustainability and performance, the structural assembly segment is expected to witness significant expansion in the near term.
Based on region, the Asia-Pacific
region is expected to see rapid growth in the automotive glass fiber composites
market. This region is driven by a surge in vehicle production and consumption,
particularly in countries like China and India. The demand for lightweight
materials in these countries is propelled by both the need for fuel-efficient
vehicles and government regulations on emissions. The automotive industry in
Asia-Pacific is heavily focused on adopting advanced materials to comply with
global environmental standards, which further boosts the market for glass fiber
composites. As electric vehicle adoption accelerates in this region, the need
for lightweight components to enhance driving range will further fuel market
growth. With continuous advancements in automotive manufacturing and increased
production capabilities, Asia-Pacific is set to remain a key player in the
automotive glass fiber composites market in the coming years.
Major Market Players
Operating in Global Automotive Glass Fiber Composites Market Are:
- Arrow Gear LLC
- Huntsman Corporation
- Gurit Services AG
- Veplas Group
- Solvay Group
- SGL Carbon
- Hexcel Corporation
- Mitsubishi Chemical Group Corporation
- TEIJIN LIMITED.
- TORAY INDUSTRIES, INC.
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The increasing demand for advanced and efficient
automotive technologies, particularly in the development of lightweight and
high-performance vehicles, is driving the growth of the automotive glass fiber
composites market. Manufacturers are focusing on producing vehicles that offer
improved fuel efficiency, durability, and reduced environmental impact, which
is driving the demand for innovative composite solutions. Stricter regulations aimed at reducing emissions and improving overall vehicle performance are
further accelerating the need for precise and reliable materials in automotive
manufacturing. As the automotive industry shifts toward more sustainable and
fuel-efficient designs, the demand for advanced glass fiber composites that can
support lightweight and durable vehicle components is expected to rise. This
trend is anticipated to significantly contribute to the market's growth in the
coming years, according to Mr. Karan Chechi, Research Director of TechSci
Research, a global research-based management consulting firm.
"Automotive Glass Fiber Composites Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented by Type (Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), Continuous Fiber Thermoplastic (CFT), and Other Intermediate Types), Application (Interior, Exterior, Structural Assembly, Power-Train Components, and Other Applications), By Region &Competition, 2020-2030F”,
assesses the market's future growth potential and provides data on market size,
trends, and forecasts. It aims to offer comprehensive market insights, helping
decision-makers make informed investment choices. The report also highlights
emerging trends, key drivers, challenges, and opportunities in the Global Automotive
Glass Fiber Composites Market.
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