Innovations in Automotive Composites Technology

The Automotive Composites Market is witnessing remarkable advancements driven by the demand for lightweight and durable materials. According to Stratview Research, this market is projected to grow at a CAGR of 6.3%, reaching an estimated value of US$ 15.6 billion by 2024. Innovations in composite materials, such as carbon fiber and reinforced plastics, are enhancing vehicle performance and fuel efficiency. Notably, Europe has captured the largest market share and is expected to maintain a healthy CAGR throughout the forecast period, as manufacturers increasingly integrate these advanced materials into their designs.