The Global Automotive Composite Market was valued at USD 7.98 Billion in 2022 and is projected to reach USD 12.54 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period (2022-2029). This growth is fueled by stringent emission regulations, rising demand for fuel-efficient vehicles, and accelerating adoption of lightweight materials in electric vehicle production.

As automakers prioritize weight reduction strategies to meet sustainability targets, composite materials are becoming indispensable in modern vehicle design. This blog profiles the Top 10 Companies in the Automotive Composite Industry—material innovators and component suppliers shaping the future of lightweight automotive solutions.

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🔟 1. Toray Industries, Inc.

Headquarters: Tokyo, Japan
Key Offering: Carbon fiber reinforced plastics (CFRP), thermoplastic composites

Toray dominates the automotive composites sector with its advanced carbon fiber solutions used in structural components and body panels. The company supplies major automakers including BMW and Toyota, with proprietary technologies enabling mass production of CFRP parts.

Lightweighting Initiatives:

• Pioneered commercial-scale CFRP production for automotive applications
• Strategic partnerships with 10+ global OEMs
• 40% weight reduction potential versus steel components

Download FREE Sample Report: Automotive Composite Market – View in Detailed Research Report

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9️⃣ 2. Teijin Limited

Headquarters: Tokyo, Japan
Key Offering: Sereebo® carbon fiber composites, thermoplastic sheets

Teijin’s innovative composites enable up to 50% weight savings versus metal alternatives in electric vehicle manufacturing. Their proprietary rapid compression molding technology facilitates high-volume production of structural components.

Lightweighting Initiatives:

• Developed industry-leading 3-minute CFRP curing technology
• Supplying energy-storing battery enclosures for EV manufacturers
• 50+ automotive material patents filed since 2020

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8️⃣ 3. SGL Carbon

Headquarters: Wiesbaden, Germany
Key Offering: Carbon fiber materials, composite solutions

SGL Carbon delivers specialized composites for high-performance applications including battery systems and chassis components. Their materials feature prominently in premium vehicles from Porsche, Mercedes-Benz, and BMW.

Lightweighting Initiatives:

• 30% market share in European automotive carbon fiber
• Produces 100,000+ CFRP battery cases annually
• 70% weight reduction in structural applications

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7️⃣ 4. Owens Corning

Headquarters: Toledo, Ohio, USA
Key Offering: Glass fiber reinforcements, composite systems

Owens Corning leads in glass fiber technologies for cost-effective vehicle weight reduction. Their solutions are widely adopted in semi-structural applications across mainstream vehicles.

Lightweighting Initiatives:

• Supplies 70% of North American automotive glass fiber
• 25% weight savings in composite liftgates
• 300+ material formulations for automotive applications

Download FREE Sample Report: Automotive Composite Market – View in Detailed Research Report

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6️⃣ 5. Solvay SA

Headquarters: Brussels, Belgium
Key Offering: Thermoplastic composites, epoxy systems

Solvay’s composite materials help automakers reduce vehicle weight while maintaining safety standards. Their products are specified in over 300 vehicle platforms globally, including electric and hybrid models.

Lightweighting Initiatives:

• Developed advanced crash-resistant composite solutions
• 40% lighter battery enclosures for EVs
• Recyclable thermoplastic composite systems

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5️⃣ 6. Hexcel Corporation

Headquarters: Stamford, Connecticut, USA
Key Offering: Carbon fiber reinforcements, prepreg materials

Hexcel supplies high-performance composite materials for premium automotive applications requiring maximum weight reduction, including supercars and motorsports vehicles.

Lightweighting Initiatives:

• 75% weight savings in structural components
• Key supplier for Formula 1 teams and hypercar manufacturers
• Expanding automotive-grade carbon fiber production

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4️⃣ 7. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Polyamide composites, long fiber thermoplastics

BASF develops engineered composites that balance performance, weight reduction, and cost-efficiency for mass production vehicles, particularly in EV battery systems and underbody panels.

Lightweighting Initiatives:

• 30% weight reduction in structural components
• Expanding automotive composite capacity in Asia
• Flame-retardant solutions for battery applications

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3️⃣ 8. Johns Manville

Headquarters: Denver, Colorado, USA
Key Offering: Glass fiber reinforcements, acoustic composites

Johns Manville’s glass fiber composites enhance vehicle acoustics while reducing weight, extensively used in underhood applications and EV battery enclosures.

Lightweighting Initiatives:

• 20% weight savings in noise-reducing components
• Advanced thermal management solutions
• Growing presence in EV battery systems

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2️⃣ 9. Gurit Holding AG

Headquarters: Wattwil, Switzerland
Key Offering: Structural composites, core materials

Gurit provides engineered composite solutions specializing in sandwich constructions that deliver exceptional stiffness-to-weight ratios for performance vehicles.

Lightweighting Initiatives:

• 50% weight reduction in vehicle body panels
• Specialized solutions for electric and high-performance vehicles
• Production capacity expansions in Europe

Download FREE Sample Report: Automotive Composite Market – View in Detailed Research Report

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1️⃣ 10. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: Carbon fiber, thermoplastic composites

Mitsubishi Chemical leads in carbon fiber innovation for automotive applications, enabling up to 60% weight reductions while meeting rigorous performance requirements.

Lightweighting Initiatives:

• Large-tow carbon fiber for cost-effective solutions
• Key supplier for Asian OEM structural components
• Planning 50% production capacity increase

Get Full Report Here: Automotive Composite Market – View in Detailed Research Report

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🚗 Outlook: The Future of Automotive Composites Is Lighter and Smarter

The automotive composites sector is undergoing transformative changes as emission regulations tighten and electric vehicle adoption accelerates worldwide.

📈 Key Trends Shaping the Market:

• 30-70% weight reduction potential versus traditional materials
• EV battery systems driving composite adoption
• Automated production enabling cost-competitive solutions
• Recyclable composite systems entering commercialization

Get Full Report Here: Automotive Composite Market – View in Detailed Research Report

The companies profiled above are driving the lightweight revolution that’s transforming vehicle manufacturing globally.