Australia Automotive Composites Market Size, Share, Competitive Landscape and Trend Analysis Report, by Fiber Type, by Resin Type, by Application : Opportunity Analysis and Industry Forecast, 2024-2033

Key Market Dynamics

Advancements in composite manufacturing technologies are playing a critical role in driving the demand for automotive composites in Australia. As the automotive industry shifts toward lighter, more fuel-efficient, and environmentally sustainable vehicles, composites have emerged as a key solution due to their lightweight properties, strength, and durability. Recent innovations in manufacturing processes such as automated fiber placement (AFP) , resin transfer molding (RTM) , and thermoplastic composite technologies, have significantly enhanced the production efficiency and performance of composite materials. These advancements allow for faster, more cost-effective production of high-performance automotive components that makes them more accessible to automakers in Australia. All these factors are expected to drive the growth of the Australia automotive composites market during the forecast period.

However, high energy consumption in certain composites, particularly carbon fiber, worsens the sustainability challenge. The manufacturing process for carbon fiber composites is energy-intensive, which increases the overall carbon footprint of the material. In Australia, where there is a strong focus on reducing emissions and energy consumption across industries, this factor creates hesitation among automakers who look forward to balance performance improvements with environmental responsibilities. All these factors hamper the growth of the Australia automotive composites market.

Australian government’s focus on reducing carbon emissions and promoting sustainable industries has fostered an environment conducive to innovation in automotive materials. Initiatives that encourage the use of recycled materials, along with stricter emissions targets, push the automotive sector to adopt composites that meet sustainability criteria. This creates opportunities for manufacturers and suppliers of sustainable automotive composites to expand their market presence in Australia, particularly in the growing electric vehicle (EV) and lightweight commercial vehicle segments, where the need for lighter, greener materials is important. All these factors are anticipated to offer new growth opportunities for the Australia automotive composites market during the forecast period.

Market Segmentation

The Australia automotive composites market is segmented into fiber type, resin type, and application. By fiber type, the market is classified into glass fiber, carbon fiber, and others. By resin type, the market is divided into thermosets and thermoplastics. By application, the market is categorized into exterior, interior, and others.

Electric Vehicle Sale in Australia

The rapid growth in electric vehicle (EV) sales in Australia, as evidenced by the increase from 3.6 thousand units in 2018 to 98.4 thousand units in 2023, has a significant impact on the demand for automotive composites. As electric vehicles require lighter materials to improve efficiency, range, and overall performance, the role of automotive composites has become increasingly crucial. Lightweight composites such as carbon fiber-reinforced polymers (CFRP) and glass fiber-reinforced polymers (GFRP) , are essential in reducing the overall weight of EVs, thereby improving battery efficiency and extending driving range. The sharp rise in EV sales indicates a parallel increase in the demand for these advanced materials, as automakers seek to optimize vehicle performance and meet consumer expectations for longer-range, energy-efficient electric cars.

This surge in EV adoption has boosted innovation and investment in composite manufacturing technologies within Australia. Automakers and suppliers focus on developing cost-effective and scalable production techniques for composites such as resin transfer molding (RTM) and automated fiber placement (AFP) , to meet the growing demand for composites. In addition, the push for more environmentally friendly and recyclable composites has gained traction, particularly in the EV market, where sustainability is a key selling point. As a result, the rise in popularity of electric vehicles drives the growth of the automotive composites market and fosters advancements in the production of lightweight, sustainable materials that align with Australia's goals of reducing emissions and supporting green technologies.

Competitive Landscape

The major players operating in the Australia automotive composites market include APR Composites, Austeng, Advanced Composite Structures Australia Pty Ltd, Scott Bader Company Ltd., Haydale Graphene Industries plc, Evonik Industries AG, Mitsubishi Chemical Group Corporation, Toray Industries, Inc, Huntsman Corporation, and Solvay S.A.

Key Sources Referred

1. International Trade Administration
2. Australian Automotive Aftermarket Association
3. Australian Automobile Association
4. Motorsport Australia
5. Australian Automotive Aftermarket Association
6. NRSPP Australia

Key Benefits for Stakeholders

• Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
• Analyze the key strategies adopted by major market players in Australia automotive composites market.
• Assess and rank the top factors that are expected to affect the growth of Australia automotive composites market.
• Top Player positioning provides a clear understanding of the present position of market players.
• Detailed analysis of the Australia automotive composites market segmentation assists to determine the prevailing market opportunities.
• Identify key investment pockets for various offerings in the market.