The Business Research Company’s report on the Transportation Composites Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the transportation composites market in recent years?
The growing automotive industry is driving the growth of the transportation composites market. The automotive industry is engaged in the design, development, marketing, and sale of automobiles. The increasing income and standard of living have led to increased demand for automobiles. Automobiles employ transportation composites for excellent strength and weight reduction of vehicles. For instance, in May 2023, according to the European Automobile Manufacturers Association (ACEA), a Belgium-based trade association, the production of global motor vehicles increased by 5.7% in 2022, reaching a total of 85.4 million units compared to the production figures from 2021. Therefore, the increasing demand for automobiles is expected to propel the growth of the transportation composites market.
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What is the projected market size of the transportation composites industry, and how is it expected to grow?
The transportation composites market size has grown strongly in recent years. It will 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 automotive industry growth, weight reduction demands, fuel efficiency goals, safety and crash performance, cost reduction initiatives, advancements in raw materials, increased production efficiency, infrastructure development.
The transportation composites market size is expected to see rapid growth in the next few years. It will grow to $116.89 billion in 2029 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to stricter emission standards, urbanization and infrastructure needs, emerging market opportunities, biocomposites adoption, government R&D funding, rising consumer preferences. Major trends in the forecast period include recyclability and sustainability, integration of smart materials, strategic partnerships and collaborations, resin matrix advancements.
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Who are the key players driving competition in the transportation composites market?
Major companies operating in the transportation composites market are 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 key trends are expected to drive the transportation analytics market during the forecast period?
Major players in the transportation composites market are developing environment friendly transportation composites to sustain in the market. Environment-friendly transportation composites are lightweight, durable materials, often incorporating sustainable or recyclable components, designed to enhance fuel efficiency and reduce environmental impact in various modes of transportation. For instance, in May 2022, TRB Lightweight Structures, a UK-based company that manufactures high-performance lightweight structures, partnered with Kordsa. This new partnership was intended to further develop environmentally friendly lightweight composites for the automobile sector and increase the accessibility of environmental concerns in transportation. Kordsa is a US-based company that develops reinforcement technologies for the manufacturing of composite materials.
Which key geographies are driving the growth of the transportation composites market?
North Americawas the largest region in the transportation composites market in 2024. The regions covered in the transportation composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the transportation composites market?
The transportation composites market covered in this report is segmented –
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
Subsegments:
1) By Thermoset: Epoxy Resins, Polyester Resins, Vinyl Ester Resins, Phenolic Resins
2) By Thermoplastic: Polypropylene (PP), Polyamide (PA), Polycarbonate (PC), Polyethylene (PE)
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How is the transportation composites market defined, and what are its core characteristics?
Transportation composites are materials created by mixing two or more natural or synthetic elements (with various physical or chemical qualities) and are more powerful when used collectively than when used alone. Transportation composites are used in Trains, planes, trucks, and other automobiles because they are lighter and more durable, increasing fuel efficiency and longevity.
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