BRIC Automotive Composites Market Size, Growth Status and Latest Application (2024-2031)

The BRIC Automotive Composites Market size is expected to reach US$ 12.57 billion by 2031 from US$ 5.32 billion in 2024. The market is estimated to record a CAGR of 11.3 % from 2024 to 2031. 

Executive Summary and Market Analysis

The BRIC automotive composites market (Brazil, Russia, India, and China) is set to experience substantial growth, propelled by the interconnected forces of rapid industrialization, increasing urbanization, and
a rising demand for sophisticated materials in vehicle manufacturing. As the automotive sectors across these nations progress, automakers are increasingly turning to composite materials like carbon fiber, fiberglass, and those based on natural fibers to bolster vehicle performance, reduce weight, and enhance
fuel efficiency. These materials are particularly valuable in the context of evolving global environmental standards aimed at curbing emissions and improving fuel economy. Offering a lighter yet stronger alternative to traditional metallic materials, composites present a compelling answer to the performance and sustainability challenges prevalent in the automotive domain.

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Market Outlook

India, with its rapidly growing automotive sector, is also witnessing a significant rise in the application of composites within vehicle manufacturing processes. As the demand for vehicles continues to climb and
automakers seek to elevate vehicle aesthetics, durability, and fuel efficiency, composites are being progressively integrated into a diverse range of vehicle components, including bumpers, interior panels, and exterior bodywork. Moreover, the burgeoning electric vehicle landscape in India is providing further impetus for the adoption of lighter materials.

In Brazil and Russia, the automotive composites market is gaining traction due to increasing capital investments in manufacturing infrastructure and an expanding network of automotive suppliers. With a growing emphasis on improving vehicle performance metrics and minimizing ecological footprints, the BRIC countries collectively represent a substantial opportunity for growth within the global automotive composites market. The persistent pursuit of innovation and sustainability across these regions is projected to further stimulate market growth in the years to come.

BRIC Automotive Composites Market Country Insights

Geographically, the BRIC automotive composites market is further segmented into the Russian Federation, Brazil, South Africa, India, and China. Notably, China accounted for the largest portion of the market in 2024.

Within China, the world's preeminent automotive market, the demand for lightweight, high-performance vehicles has triggered a notable surge in the utilization of composite materials. As the nation advances towards electric vehicles (EVs) and prioritizes the reduction of carbon emissions, composites are being increasingly employed in EV manufacturing to decrease vehicle mass and enhance battery longevity. Additionally, China's robust manufacturing capabilities and governmental initiatives supporting environmentally sound technologies have created a propitious environment for the advancement of the automotive composites market.

BRIC Automotive Composites Market Segmentation

BRIC Automotive Composites Market: By Fiber Type

·        Glass Fiber Composites

·        Carbon Fiber Composites

BRIC Automotive Composites Market: By Resin Type

·    Thermoset

·   Thermoplastics

BRIC Automotive Composites Market: By Technology

·     Pultrusion

·        
    Injection Molding

·    Compression Molding

BRIC Automotive Composites Market: By Vehicle Type

·     Passenger Cars

·        
    Commercial Vehicles

·    Two Wheelers

BRIC Automotive Composites Market: Regions and Countries Covered   

BRIC

·     Russian Federation

·        
    Brazil

·        
    India

·   China

BRIC Automotive Composites Market: Market leaders and key company profiles          

      Gurit Holdings AG

·        
Hexcel Corp

·        
Mitsubhishi Chemical Group

·        
SGL Carbon SE

·        
Solvay SA

·        
Teijin Ltd

·        
DuPont de Numours Inc

·        
Toray Industries

·        
Atlas Fibre

        
Elaghmore Advisor LLP

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