ASEAN Automotive Composites Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00031213 | Category: Chemicals and Materials
No. of Pages: 150 | Report Code: BMIRE00031213 | Category: Chemicals and Materials
The ASEAN Automotive Composites Market size is expected to reach US$ 1,037.37 million by 2031 from US$ 542.60 million in 2024. The market is estimated to record a CAGR of 8.4% from 2025 to 2031.
The automotive composites market in ASEAN is experiencing significant growth, driven by the increasing demand for lightweight, fuel-efficient, and sustainable vehicles. Composites made from two or more distinct components are integral in producing automotive parts due to their ability to reduce weight while maintaining strength and durability. As governments and automotive manufacturers prioritize sustainability and environmental concerns, composites are a key solution for meeting these objectives. The shift toward EVs and stricter fuel efficiency standards propels the need for lighter materials, thus boosting the demand for automotive composites.
Key segments that contributed to the derivation of the automotive composites market analysis are product type, resin type, technology, vehicle type and application.
The ASEAN market for automotive composites benefits from increased research and development investments. Innovations in composite manufacturing processes, such as resin transfer molding and compression molding, improve production efficiency and reduce costs, making composites more accessible for a broader range of vehicles. Furthermore, the automotive industry's shift toward sustainability fosters the development of bio-based and recyclable composite materials. As the region continues to evolve as a key player in the global automotive sector, the ASEAN automotive composites market is expected to witness steady growth, driven by technological advancements, environmental considerations, and changing consumer demands. Thailand, Indonesia, and Malaysia have established themselves as major automotive manufacturing hubs, with many global automakers having production facilities. These nations are embracing advanced materials technology, including carbon fiber, glass fiber, and natural fiber composites, to enhance the performance and efficiency of vehicles. Consumers are increasingly prefering for premium and performance-oriented cars, which often incorporate high-performance composite materials. The growing adoption of composites is also spurred by their advantages in corrosion resistance, design flexibility, and cost-effectiveness over time, making them a popular choice for both OEMs (Original Equipment Manufacturers) and aftermarket applications.
Based on region, the ASEAN automotive composites market is further segmented into the Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Thailand held the largest share in 2023.
Thailand's automotive composites market is growing due to its well-established automotive manufacturing base and increasing demand for lightweight materials. As Thailand strengthens its position as a key automotive hub in Southeast Asia, the use of composites such as fiberglass, carbon fiber, and natural fibers is rising, particularly for improving fuel efficiency and meeting environmental regulations. The shift toward electric vehicles (EVs) accelerates the adoption of composite materials, which enhance battery performance and reduce overall vehicle weight. With ongoing investments in green technologies, Thailand's automotive composites market is expected to continue expanding in the coming years.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 542.60 Million |
| Market Size by 2031 | US$ 1,037.37 Million |
| Global CAGR (2025 - 2031) | 8.4% |
| Historical Data | 2022-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Fiber Type
|
| Regions and Countries Covered | ASEAN
|
Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours Inc, Toray Industries Inc, Atlas Fibre, and Elaghmore Advisor LLP are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note:
All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
The ASEAN Automotive Composites Market is valued at US$ 542.60 Million in 2024, it is projected to reach US$ 1,037.37 Million by 2031.
As per our report ASEAN Automotive Composites Market, the market size is valued at US$ 542.60 Million in 2024, projecting it to reach US$ 1,037.37 Million by 2031. This translates to a CAGR of approximately 8.4% during the forecast period.
The ASEAN Automotive Composites Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the ASEAN Automotive Composites Market report:
The ASEAN Automotive Composites Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The ASEAN Automotive Composites Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the ASEAN Automotive Composites Market value chain can benefit from the information contained in a comprehensive market report.
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