Global Automotive Composites Industry Report 2023-2028: Growing Focus on Light Weight and Fuel-Efficient Vehicles Bodes Well for the Sector

Key Facts

By allowing the shrinking of other sections like the brake system and driven train components, a lighter vehicle body and battery pack further contribute to the total weight reduction of the electric vehicle, accelerating the growth of the automotive composites market in the upcoming years.
Growing Focus on Light Weight and Fuel-Efficient Vehicles The vital need for lightweight components in automobile parts for greater fuel efficiency and reducing emissions to comply with EU laws propels the market for automotive composites.
These activities include the creation of innovation clusters for composites and automotive lightweight materials and partnerships with the chemical and automotive sectors to support investments with supply chain studies of the automotive composites market.
Additionally, natural fiber composites are used in the production of vehicle body sections like the engine hood, storage tanks, and dashboards to eliminate the need for other metals like steel and aluminium and to advance the usage of bio-based materials in the sector.