EV Composites Market – Global Forecast To 2029
The EV Composites market is estimated at USD 2.3 billion in 2024 and is projected to reach USD 5.1 billion by 2029, at a CAGR of 17.1% from 2024 to 2029.
EV用複合材料市場は2024年に23億米ドルと推定され、2024年から2029年までのCAGRは17.1%で、2029年までに51億米ドルに達すると予測されています。
Glass fiber composites are increasingly used in electric vehicles (EVs) due to several key factors. They contribute to significant weight reduction, enhancing efficiency and range, while being more cost-effective compared to other composites like carbon fiber. Glass fiber offers high tensile strength and durability, making it suitable for various structural and non-structural parts. Its excellent thermal and electrical insulation properties help manage heat generated by electric powertrains and ensure safe operation of electrical systems. The design flexibility of glass fiber allows for complex shapes and aerodynamic designs, and its production is often more environmentally friendly with lower energy requirements and recycling potential. Additionally, fiberglass composites help reduce noise, vibration, and harshness (NVH) levels, providing a quieter cabin environment, further enhancing the overall driving experience in EVs.
The report provides insights on the following pointers:
- Analysis of key drivers (Increasing adoption of EV composites, Technological advancements), restraints (Competition with low-cost mature products, Limited market penetration), opportunities (Reduction in cost of carbon fiber, Expansion of EV Infrastructure), and challenges (Maintaining uninterrupted supply chain and operating at full production capacity, liquidity crunch) influencing the growth of the EV Composites market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the EV Composites market
- Market Development: Comprehensive information about lucrative markets – the report analyses the EV Composites market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the EV Composites market
- Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Toray Industries, Inc. (Japan), Teijin Limited (Japan), Syensqo (Belgium), Piran Advanced Composites (UK), HRC (Hengrui Corporation) (China), Envalior (Germany), Exel Composites (Finland), Kautex Textron GmbH & Co. KG (Germany), SGL Carbon (Germany), POLYTEC HOLDING AG (Austria), Plastic Omnium (France), Röchling SE & Co. KG (Germany), Mar-Bal, Inc. (US), ElringKlinger AG (Germany), and Faurecia (France), The Gund Company (US), IDI Composites International (US), TRB Lightweight Structures (US), CIE Automotive India (India), ZhongAo Carbon (China), Atlas Fibre (US), Jiangsu Kangde Xin Composite Material (China), Euro Advanced Carbon Fiber Composites GmbH (US), Owens Corning (US) among others in the EV Composites market.