The transportation composites market size has witnessed significant growth in recent years. It is projected to grow from $70.01 billion in 2024 to $76.82 billion in 2025 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to factors such as the expansion of the automotive industry, demands for weight reduction, fuel efficiency goals, safety and crash performance, cost reduction initiatives, advancements in raw materials and increased production efficiency.
The transportation composites market size is forecasted to rapidly expand in the coming years, growing to $116.89 billion in 2029 at a CAGR of 11.1%. The growth during the forecast period can be attributed to stricter emission standards, urbanization and infrastructure needs, emerging market opportunities, adoption of biocomposites, government R&D funding, and rising consumer preferences.
Get Your Free Sample of The Global Transportation Composites Market Report: https://www.thebusinessresearchcompany.com/sample.aspx?id=8509&type=smp
What Are The Key Drivers For The Transportation Composites Market?
The expansion of the automotive industry is significantly stimulating the growth of the transportation composites market. The automotive industry, which is involved in the design, development, marketing, and sale of automobiles, is witnessing increased demand due to higher income and improved standards of living. The upsurge in demand for automobiles is expected to propel the growth of the transportation composites market. For instance, in May 2023, the European Automobile Manufacturers Association (ACEA) reported a 5.7% increase in global motor vehicle production in 2022, reaching a total of 85.4 million units.
Which Are The Major Segments Within The Global Transportation Composites Market?
1) By Resin: Thermoset, Thermoplastic
2) By Material Type: Glass Fiber, Natural Fiber, Carbon Fiber Composite, Aramid Fiber
3) By Manufacturing Process: Compression Molding, Injection Molding, Resin Transfer Molding, Other Manufacturing Processes
Order your report now for swift delivery:
https://www.thebusinessresearchcompany.com/report/transportation-composites-global-market-report
What Major Companies Are Operating In The Transportation Composites Market?
Significant companies operational in the transportation composites market include Hexcel Corporation, Mitsubishi Chemical Holdings Corporation, Owens Corning, Toray Industries Inc., Teijin Limited, Solvay S.A., Jushi Group Co. Ltd., SGL Carbon SE, Gurit Holding AG, Koninklijke DSM N.V., Huntsman Corporation LLC, DuPont de Nemours Inc., Momentive Performance Materials Inc., Veplas Group, B&T Composites SA, Champion Fiberglass Inc., Compotech Inc., Creative Composites Group, GSE Dynamics Inc., Middle River Aerostructures Systems, Nammo Composite Solutions LLC, 3M Company, BASF SE, Henkel AG & Co. KGaA, Saudi Basic Industries Corporation, Arkema S.A., Evonik Industries AG.
What Emerging Trends Are Influencing The Transportation Composites Market?
Major players in the transportation composites market are developing environment-friendly transportation composites in an effort to sustain in the market. Environment-friendly transportation composites are designed with a focus on enhancing fuel efficiency, durability, and reducing environmental impact. For instance, in May 2022, TRB Lightweight Structures, a company specializing in manufacturing high-performance lightweight structures, collaborated with Kordsa to develop eco-friendly lightweight composites for the automotive sector.
Which Region Dominates The Transportation Composites Market?
North America emerged as the largest region in the transportation composites market in 2024, followed by Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Is The Transportation Composites Market, And What Does The 2025 Report Offer?
Transportation composites are made by combining two or more natural or synthetic elements with varying physical or chemical properties. They are more powerful when used collectively than when used individually. These composites are used in trains, planes, trucks, and other automobiles due to their light weight and durability, which increase fuel efficiency and longevity. The Transportation Composites Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Purchase the exclusive report now to unlock valuable market insights: https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8509
Read Related Topics:
https://goodprnews.com/vertical-lift-module-market-trends/
https://goodprnews.com/viral-inactivation-market-trends/
https://goodprnews.com/whole-exome-sequencing-market-trends/
https://goodprnews.com/steel-wire-rope-and-plastic-rope-market-trends/
https://goodprnews.com/telecom-operations-management-market-trends/
https://goodprnews.com/unmanned-surface-vehicle-usv-market-share/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model