The Market For Composite Materials Used in The Automotive Industry Is Expected To Reach 15.6 Billion US Dollars By 2025

According to the prediction of foreign professional research institutions, the market for composite materials used in the automotive industry will reach 15.6 billion US dollars in 2025. Among them, glass fiber composite materials will still maintain a dominant position in the market, but the growth rate of carbon fiber composite materials is expected to far exceed that of glass fiber composite materials during the same period.

Automotive industry composite materials are mainly composed of fiber (such as glass fiber and carbon fiber) reinforced resin-based composite materials. At present, the composite materials in the automotive industry mainly include short fiber reinforced thermoplastics (SFT), long fiber reinforced thermoplastics (LFRT), glass mat thermoplastics (GMT), sheet molding compounds (SMC), and block molding compounds (BM C), etc. It is estimated that by 2024, the market value of composite materials for the automotive industry will reach 15.6 billion US dollars. In the next five years from 2025 to 2030, the growth rate of automotive composite materials is likely to exceed that of the automotive industry.

The expected organic growth in car production, strict government regulations on carbon emission reduction and fuel efficiency improvement, etc., will all provide positive signals for the composite materials industry. Due to the excellent lightweight effect that composite materials can offer, automotive parts are gradually shifting towards all composite material components, and the significant reduction in the number of components The excellent chemical properties and corrosion resistance of composite materials have also become key factors driving the demand for composite materials in the automotive industry.

Analysis of Market Share of Automotive Composite Materials

Market share of automotive composite materials for different application fields: Composite materials can be applied to almost all major application fields in the automotive industry, such as interiors, exterior structures and engine hoods, etc. Among them, composite materials have a high penetration level in the application field of engine hoods (such as intake manifolds, radiator end fuel tanks, engine oil pans, engine hoods, air ducts and end covers of turbocharged air coolers). As temperature and heat resistance are the main requirements for materials used in engine hoods, polyamide resin has become a long-term choice among various resin matrices