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 BRIC Automotive Composites Market Analysis:
The BRIC automotive composites market (Brazil, Russia, India, and China) is poised for significant growth, driven by rapid industrialization, urbanization, and the increasing demand for advanced materials in vehicle production. As the automotive industry in these countries continues to evolve, automakers are increasingly turning to composites such as carbon fiber, fiberglass, and natural fiber-based materials to improve vehicle performance, reduce weight, and enhance fuel efficiency. These materials are particularly attractive in meeting global environmental regulations to reduce emissions and improve fuel economy. Composites are lighter and stronger than traditional metals, making them an ideal solution for addressing performance and sustainability challenges in the automotive sector.
BRIC Automotive Composites Market Segmentation Analysis:
Key segments that contributed to the derivation of the BRIC automotive composites market analysis are type and application.
- On the basis of fiber type, the automotive composites market is segmented into glass fiber composites, carbon fiber composites, others. The glass fiber composites segment held the largest share of the market in 2024.
- In terms of resin type, the market is segmented into thermoset and thermoplastics. The thermoplastics segment held the largest share of the market in 2024.
- On the basis of technology, the market is segmented into pultrusion, injection molding, compression molding, others. The injection molding segment held the largest share of the market in 2024.
- In terms of vehicle type, the market is segmented into passenger cars, commercial vehicles, two wheelers and others. The passenger cars segment held the largest share of the market in 2024.
- In terms of application, the market is segmented into structual assembly, powertrain component, interior, exterior. The interior segment held the largest share of the market in 2024.
BRIC Automotive Composites Market Outlook
India, with its rapidly expanding automotive industry, is also witnessing a growing trend in the use of composites in vehicle manufacturing. As demand for vehicles increases and automakers look to enhance vehicle aesthetics, durability, and fuel efficiency, composites are being increasingly integrated into various vehicle components such as bumpers, interior panels, and body panels. Additionally, the rise of electric mobility in India is further contributing to the adoption of lightweight materials.
In Brazil and Russia, the automotive composites market is benefiting from growing investments in manufacturing infrastructure and an expanding automotive supply chain. With increasing emphasis on improving vehicles' performance and environmental footprint, the BRIC countries collectively represent a significant growth opportunity for the global automotive composites market. The continuous drive for innovation and sustainability in these regions is expected to bolster the market further in the coming years.
BRIC Automotive Composites Market Country Insights
Based on region, the BRIC automotive composites market is further segmented into the Russian Federation, Brazil, South Africa, India, and China. China held the largest share in 2024.
In China, which is the largest automotive market globally, the demand for lightweight, high-performance vehicles has led to a sharp rise in the adoption of composite materials. As the country transitions towards electric vehicles (EVs) and prioritizes reducing carbon emissions, composites are increasingly being used in EV production to lower vehicle weight and extend battery life. Additionally, China's strong manufacturing capabilities and government incentives promoting green technologies have created a favorable environment for the automotive composites market growth.
BRIC Automotive Composites Market Company Profiles
Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours In, Toray Industries Inc, Atlas Fibre, and Elaghmore Advisor LLP are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
BRIC Automotive Composites Market Research Methodology:
The following methodology has been followed for the collection and analysis of data presented in this report:
- Secondary Research
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
- Company websites, annual reports, financial statements, broker analyses, and investor presentations
- Industry trade journals and other relevant publications
- Government documents, statistical databases, and market reports
- News articles, press releases, and webcasts specific to companies operating in the market
Note: All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
- Primary Research
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
- Refine findings from secondary research
- Enhance the expertise and market understanding of the analysis team
- Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
- Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
- External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
Key Sources Referred:
- The BRICan Composites Industry Association
- The BRICan Society for Composite Materials (ESCM)
- BRICan Automobile Manufacturers Association (ACEA)
- BRICan Association of Automotive Suppliers (CLEPA)
BRICS Automotive Composites Market Strategic Insights
BRICS Automotive Composites Market Report Highlights
| Report Attribute | Details |
| Market size in 2024 | US$ 5.32 Billion |
| Market Size by 2031 | US$ 12.57 Billion |
| CAGR (2025 - 2031) | 11.3 % |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Fiber Type
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Regions and Countries Covered
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| BRICS | Brazil, China, India, Russia, South Africa, Egypt, Indonesia, United Arab Emirates |
| Market leaders and key company profiles |
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BRICS Automotive Composites Market Country and Regional Insights
