조사회사 : MarketsandMarkets (마켓츠앤마켓츠) 출판년월 : 2024년07월
EV Composites Market – Global Forecast To 2029
EV용 복합 재료 시장 – 섬유의 종류(유리 섬유, 탄소 섬유), 수지의 종류(열가소성 수지, 열경화성 수지), 종류(울트라 프리미엄, 프리미엄, 비 프리미엄), 제조 공정, 용도, 지역별 – 2029년까지의 세계 예측
EV Composites Market by Fiber Type (Glass Fiber, Carbon Fiber), Resin Type (Thermoplastics, Thermoset), Type (Ultra-Premium, Premium and Non-Premium), Manufacturing Process, Application, and Region – Global Forecast to 2029
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| 구성 | 영문조사보고서 |
Report Overview
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.
EV용 복합재료 시장은 2024년에 23억 달러로 추정되고, 2024년부터 2029년까지의 CAGR은 17.1%로, 2029년까지 51억 달러에 이를 것으로 예측되고 있습니다.
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.
‘‘In terms of value, thermoset resin segment accounted for the largest share of the overall EV Composites market.’’
In thermoset composites, thermoset resins are used as the matrix with fibers such as carbon fiber, fiberglass, natural fiber, and aramid fiber. Currently, thermoset resins are widely used for manufacturing EV composites as, when cured, they are in the liquid state at room temperature. This unique property of the resin allows for the convenient impregnation of reinforcing fiber. On account of their rigid interlinking molecular structure, inert chemical composition, and resistance to ultraviolet and chemical attack, thermoset composites are very durable. Structures made of thermoset composites are also low on maintenance. The thermoset resin for EV composites is expected to grow significantly due to the increasing demand for lightweight and high-performance materials in EV production.
‘‘In terms of value, RTM manufacturing process segment accounted for the third largest share of the overall EV Composites market.’’
In 2023, RTM manufacturing process segment accounted for the third largest share of the EV Composites market, in terms of value. RTM is a cost-effective and efficient method for producing high-quality EV composite parts, which is crucial for the growing demand in the EV industry. The trend towards lightweight vehicles for improved efficiency and range is a significant driver, as RTM produces components that are both strong and lightweight. Additionally, RTM allows for high levels of design flexibility and precision, enabling complex shapes and integrated components, which is essential for the innovative designs seen in modern EVs. The process also supports high-volume production, aligning with the scaling needs of the EV market. Moreover, RTM’s capability to use various resin systems, including those with high thermal and electrical insulation properties, makes it suitable for manufacturing components that require high performance and safety standards in EVs. Overall, the efficiency, versatility, and sustainability of RTM are key factors driving its growth in the EV composites market.
“During the forecast period, the EV Composites market in Europe region is projected to be the second largest region.”
The growth of EV composites in Europe is fuelled by regulatory pressures, government incentives, automotive innovation, infrastructure development, and sustainability goals. Trends such as the adoption of carbon fiber composites, advanced manufacturing techniques, and the focus on battery enclosures highlight the dynamic nature of this market. As Europe continues to lead in the transition to electric mobility, the demand for high-performance composites is set to increase, driving further advancements and adoption in the EV industry. Leading companies like Röchling SE & Co. KG and ElringKlinger AG are ramping up their R&D efforts to develop new products, aligning with market trends and meeting the growing demand for EV Composites.
This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:
- By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
- By Designation- C Level- 50%, Director Level- 30%, and Others- 20%
- By Region- North America- 15%, Europe- 50%, Asia Pacific- 20%, Latin America- 10%, Middle East & Africa (MEA)-5%.
The report provides a comprehensive analysis of company profiles:
Prominent companies include 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).
Research Coverage
This research report categorizes the EV Composites Market By Fiber Type (Glass Fiber, Carbon Fiber, Other Fibers), By Resin Type (Thermoplastics, Thermoset), By Type (Ultra-Premium, Premium and Non-Premium), By Manufacturing Process (Compression Molding, Injection Molding, RTM), Application (Interior, Exterior, Battery Enclosure, Powertrain & Chassis), Region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the EV Composites market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the EV Composites market are all covered. This report includes a competitive analysis of upcoming startups in the EV Composites market ecosystem.
Reasons to buy this report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall EV Composites market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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.
Table of Contents
1 INTRODUCTION 24
1.1 STUDY OBJECTIVES 24
1.2 MARKET DEFINITION 24
1.3 INCLUSIONS & EXCLUSIONS 25
1.4 MARKET SCOPE 26
1.4.1 YEARS CONSIDERED 26
1.5 CURRENCY CONSIDERED 27
1.6 UNITS CONSIDERED 27
1.7 STAKEHOLDERS 27
2 RESEARCH METHODOLOGY 28
2.1 RESEARCH DATA 28
2.1.1 SECONDARY DATA 29
2.1.1.1 Key data from secondary sources 29
2.1.2 PRIMARY DATA 30
2.1.2.1 Key data from primary sources 30
2.1.2.2 Key primary participants 30
2.1.2.3 Breakdown of primary interviews 31
2.1.2.4 Key industry insights 31
2.2 BASE NUMBER CALCULATION 32
2.2.1 APPROACH 1: DEMAND-SIDE ANALYSIS 32
2.2.2 APPROACH 2: SUPPLY-SIDE ANALYSIS 32
2.3 FORECAST NUMBER CALCULATION 33
2.3.1 SUPPLY SIDE 33
2.3.2 DEMAND SIDE 33
2.4 MARKET SIZE ESTIMATION 33
2.4.1 BOTTOM-UP APPROACH 34
2.4.2 TOP-DOWN APPROACH 34
2.5 DATA TRIANGULATION 35
2.6 FACTOR ANALYSIS 36
2.7 ASSUMPTIONS 36
2.8 GROWTH FORECAST 37
2.9 RESEARCH LIMITATIONS 37
2.10 RISK ASSESSMENT 37
3 EXECUTIVE SUMMARY 38
4 PREMIUM INSIGHTS 42
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN EV COMPOSITES MARKET 42
4.2 EV COMPOSITES MARKET SHARE, BY FIBER TYPE, 2023 42
4.3 EV COMPOSITES MARKET SHARE, BY RESIN TYPE, 2023 43
4.4 EV COMPOSITES MARKET SHARE, BY MANUFACTURING PROCESS, 2023 43
4.5 EV COMPOSITES MARKET SHARE, BY TYPE, 2023 44
4.6 EV COMPOSITES MARKET, BY APPLICATION AND REGION, 2023 44
4.7 EV COMPOSITES MARKET, BY KEY COUNTRY 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
5.2.1 DRIVERS 47
5.2.1.1 Stringent standards on emission control 47
5.2.1.2 Increasing adoption of composite materials by premium EV manufacturers 48
5.2.1.3 Government policies and incentives driving EV adoption 48
5.2.2 RESTRAINTS 49
5.2.2.1 High processing and manufacturing cost of composites 49
5.2.2.2 Lack of EV infrastructure 49
5.2.3 OPPORTUNITIES 50
5.2.3.1 Reduction in cost of carbon fibers 50
5.2.3.2 Growing demand for EVs from emerging economies 50
5.2.3.3 Growing application of composites in EV batteries 52
5.2.4 CHALLENGES 52
5.2.4.1 Recycling of composite materials 52
5.2.4.2 Developing low-cost technologies 52
5.3 PORTER’S FIVE FORCES ANALYSIS 53
5.3.1 THREAT OF NEW ENTRANTS 54
5.3.2 THREAT OF SUBSTITUTES 54
5.3.3 BARGAINING POWER OF SUPPLIERS 54
5.3.4 BARGAINING POWER OF BUYERS 54
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 55
5.4 SUPPLY CHAIN ANALYSIS 55
5.4.1 RAW MATERIAL 56
5.4.2 MANUFACTURING PROCESS 56
5.4.3 FINAL PRODUCT 56
5.5 ECOSYSTEM 57
5.6 PRICING ANALYSIS 58
5.6.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY FIBER TYPE 58
5.6.2 AVERAGE SELLING PRICE TREND, BY RESIN TYPE 58
5.6.3 AVERAGE SELLING PRICE TREND, BY APPLICATION TYPE 59
5.6.4 AVERAGE SELLING PRICE TREND, BY MANUFACTURING PROCESS 59
5.6.5 AVERAGE SELLING PRICE TREND, BY TYPE 60
5.6.6 AVERAGE SELLING PRICE TREND, BY REGION 60
5.7 VALUE CHAIN ANALYSIS 61
5.8 TRADE ANALYSIS 61
5.8.1 EXPORT SCENARIO FOR HS CODE 7019 62
5.8.2 IMPORT SCENARIO FOR HS CODE 7019 63
5.8.3 EXPORT SCENARIO FOR HS CODE 681511 64
5.8.4 IMPORT SCENARIO FOR HS CODE 681511 64
5.9 TECHNOLOGY ANALYSIS 65
5.9.1 TECHNOLOGY ANALYSIS FOR GLASS FIBER COMPOSITES 65
5.9.2 TECHNOLOGY ANALYSIS FOR CARBON FIBER COMPOSITES 66
5.9.3 COMPLEMENTARY TECHNOLOGIES FOR LATEST MANUFACTURING PROCESS OF CARBON FIBERS 67
5.9.4 ADJACENT TECHNOLOGIES FOR LATEST MANUFACTURING PROCESS OF CARBON FIBERS 67
5.10 IMPACT OF AI/GEN AI ON EV COMPOSITES MARKET 68
5.10.1 TOP USE CASES AND MARKET POTENTIAL 68
5.10.2 BEST PRACTICES IN EV COMPOSITES MARKET 68
5.10.3 CASE STUDIES OF AI IMPLEMENTATION IN EV COMPOSITES MARKET 69
5.10.4 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 69
5.10.5 CLIENTS’ READINESS TO ADOPT GENERATIVE AI IN EV COMPOSITES MARKET 69
5.11 KEY STAKEHOLDERS AND BUYING CRITERIA 70
5.11.1 KEY STAKEHOLDERS IN BUYING PROCESS 70
5.11.2 BUYING CRITERIA 71
5.12 PATENT ANALYSIS 71
5.12.1 INTRODUCTION 71
5.12.2 METHODOLOGY 72
5.12.3 PATENT TYPES 72
5.12.4 INSIGHTS 73
5.12.5 LEGAL STATUS 73
5.12.6 JURISDICTION ANALYSIS 74
5.12.7 TOP APPLICANTS 74
5.13 REGULATORY LANDSCAPE 76
5.13.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
5.14 KEY CONFERENCES AND EVENTS IN 2024–2025 79
5.15 CASE STUDY ANALYSIS 81
5.15.1 CASE STUDY 1: WATT ELECTRIC VEHICLES AND THE NATIONAL COMPOSITES CENTRE PARTNERSHIP TO MANUFACTURE COMPOSITE BATTERY 81
5.15.2 CASE STUDY 2: TEIJIN’S DEVELOPMENT OF CARBON FIBER BATTERY ENCLOSURE 81
5.16 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 82
5.17 INVESTMENT AND FUNDING SCENARIO 83
6 EV COMPOSITES MARKET, BY FIBER TYPE 84
6.1 INTRODUCTION 85
6.2 CARBON 86
6.2.1 USEFUL IN REDUCING WEIGHT OF BATTERY PACKS AND IMPROVING COOLING 86
6.2.2 EV CARBON FIBER COMPOSITES MARKET, BY REGION 87
6.3 GLASS 88
6.3.1 WIDELY UTILIZED AS REINFORCEMENTS IN EV COMPOSITE, OFFERING BALANCE OF STRENGTH, AFFORDABILITY, AND CORROSION RESISTANCE 88
6.3.2 EV GLASS FIBER COMPOSITES MARKET, BY REGION 88
6.4 OTHER FIBERS 89
6.4.1 OTHER EV FIBER COMPOSITES MARKET, BY REGION 90
7 EV COMPOSITES MARKET, BY RESIN TYPE 91
7.1 INTRODUCTION 92
7.2 THERMOSET COMPOSITES 93
7.2.1 LOW ON MAINTENANCE—KEY FACTOR PROPELLING MARKET GROWTH 93
7.2.2 POLYESTER 93
7.2.3 VINYL ESTER 94
7.2.4 EPOXY 94
7.2.5 OTHER THERMOSET RESINS 94
7.2.6 EV THERMOSET COMPOSITES MARKET, BY REGION 94
7.3 THERMOPLASTIC COMPOSITES 96
7.3.1 HIGH COST TO RESTRAIN ADOPTION 96
7.3.2 POLYPROPYLENE 96
7.3.3 POLYAMIDE 96
7.3.4 POLYPHENYLENE SULFIDE 97
7.3.5 OTHER THERMOPLASTIC RESINS 97
7.3.5.1 Polyetheretherketone 97
7.3.5.2 Polyetherimide 97
7.3.6 EV THERMOPLASTIC COMPOSITES MARKET, BY REGION 97
8 EV COMPOSITES MARKET, BY TYPE 100
8.1 INTRODUCTION 101
8.1.1 EV COMPOSITES MARKET IN BATTERY ENCLOSURE APPLICATIONS 102
8.1.2 EV COMPOSITES MARKET IN INTERIOR APPLICATIONS 103
8.1.3 EV COMPOSITES MARKET IN EXTERIOR APPLICATIONS 104
8.1.4 EV COMPOSITES MARKET IN POWERTRAIN & CHASSIS APPLICATIONS 106
9 EV COMPOSITES MARKET, BY APPLICATION 107
9.1 INTRODUCTION 108
9.2 EXTERIOR 109
9.2.1 EXTERIOR PARTS MANUFACTURED WITH COMPOSITES IMPART RIGIDITY 109
9.2.2 EV COMPOSITES MARKET IN EXTERIOR APPLICATIONS, BY FIBER TYPE 109
9.3 INTERIOR 110
9.3.1 GLASS FIBER COMPOSITES WIDELY USED IN INTERIOR APPLICATIONS 110
9.3.2 EV COMPOSITES MARKET IN INTERIOR APPLICATIONS, BY FIBER TYPE 111
9.4 POWERTRAIN & CHASSIS 111
9.4.1 STRINGENT GOVERNMENT REGULATIONS TO REDUCE OVERALL WEIGHT OF VEHICLES 111
9.4.2 EV COMPOSITES MARKET IN POWERTRAIN & CHASSIS APPLICATIONS, BY FIBER TYPE 112
9.5 BATTERY ENCLOSURES 113
9.5.1 DESIGNED TO ENSURE SAFETY OF BATTERY AND PASSENGERS IN EVENT OF COLLISION 113
9.5.2 EV COMPOSITES MARKET IN BATTERY ENCLOSURE APPLICATIONS,
BY FIBER TYPE 113
10 EV COMPOSITES MARKET, BY MANUFACTURING PROCESS 115
10.1 INTRODUCTION 116
10.2 INJECTION MOLDING 118
10.2.1 OFFERS LOW-COST TOOLING FOR PRODUCTION OF LOW VOLUME
OF LARGE PARTS 118
10.2.2 INJECTION MOLDING: EV COMPOSITES MARKET, BY REGION 118
10.3 COMPRESSION MOLDING 119
10.3.1 PRODUCE HIGH-STRENGTH COMPLEX PARTS IN A VARIETY OF SIZES 119
10.3.2 COMPRESSION MOLDING: EV COMPOSITES MARKET, BY REGION 119
10.4 RESIN TRANSFER MOLDING 120
10.4.1 SUITABLE FOR MEDIUM-VOLUME PRODUCTION OF LARGE COMPONENTS 120
10.4.2 RESIN TRANSFER MOLDING: EV COMPOSITES MARKET, BY REGION 121
10.5 OTHER MANUFACTURING PROCESSES 122
10.5.1 FILAMENT WINDING PROCESS 122
10.5.2 CONTINUOUS PROCESS 122
10.5.3 LAY-UP PROCESS 122
10.5.4 OTHER MANUFACTURING PROCESSES: EV COMPOSITES MARKET,
BY REGION 123
11 EV COMPOSITES MARKET, BY REGION 124
11.1 INTRODUCTION 125
11.2 ASIA PACIFIC 127
11.2.1 CHINA 131
11.2.1.1 Rising efforts by domestic automakers to support market growth 131
11.2.2 JAPAN 132
11.2.2.1 High demand from OEMs to drive market 132
11.2.3 INDIA 133
11.2.3.1 Government support to favor market growth 133
11.2.4 SOUTH KOREA 134
11.2.4.1 Government incentives to promote EV demand to drive market 134
11.2.5 AUSTRALIA 135
11.2.5.1 Growing sales of electric cars to drive market 135
11.2.6 REST OF ASIA PACIFIC 136
11.3 EUROPE 136
11.3.1 GERMANY 141
11.3.1.1 Government and OEM plans for rapid EV shift to drive market 141
11.3.2 FRANCE 142
11.3.2.1 Plans for rapid electrification to support market growth 142
11.3.3 UK 143
11.3.3.1 Heavy investments in EV ecosystem to propel market 143
11.3.4 ITALY 144
11.3.4.1 Advanced manufacturing and innovation to drive market 144
11.3.5 SPAIN 145
11.3.5.1 Increasing investments in EV space to drive market 145
11.3.6 RUSSIA 146
11.3.6.1 Government support for EV adoption to propel market 146
11.3.7 BELGIUM 147
11.3.7.1 Increasing investments in EV space to drive market 147
11.3.8 REST OF EUROPE 148
11.4 NORTH AMERICA 149
11.4.1 US 152
11.4.1.1 High investments and government focus on cleaner mobility to drive market 152
11.4.2 CANADA 154
11.4.2.1 Increasing development of EV infrastructure to drive market 154
11.5 LATIN AMERICA 155
11.5.1 BRAZIL 158
11.5.1.1 Growth of electric vehicles industry to propel market 158
11.5.2 MEXICO 159
11.5.2.1 Lower manufacturing cost and proximity to OEMs in US to drive market 159
11.5.3 REST OF LATIN AMERICA 160
11.6 MIDDLE EAST & AFRICA 160
11.6.1 GCC COUNTRIES 164
11.6.1.1 UAE 164
11.6.1.1.1 Supportive government policies to boost market growth 164
11.6.1.2 Rest of GCC countries 165
11.6.2 SOUTH AFRICA 166
11.6.2.1 Local and international investments to boost market 166
11.6.3 REST OF MIDDLE EAST & AFRICA 168
12 COMPETITIVE LANDSCAPE 169
12.1 OVERVIEW 169
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 169
12.3 REVENUE ANALYSIS 171
12.4 MARKET SHARE ANALYSIS 172
12.5 BRAND/PRODUCT COMPARATIVE ANALYSIS 174
12.5.1 BRAND/PRODUCT COMPARATIVE ANALYSIS, BY EV COMPOSITE PRODUCT 174
12.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 175
12.6.1 STARS 175
12.6.2 EMERGING LEADERS 175
12.6.3 PERVASIVE PLAYERS 175
12.6.4 PARTICIPANTS 176
12.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023 177
12.6.5.1 Company footprint 177
12.6.5.2 Fiber type footprint 178
12.6.5.3 Type footprint 178
12.6.5.4 Resin type footprint 179
12.6.5.5 Application footprint 180
12.6.5.6 Region footprint 180
12.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023 181
12.7.1 PROGRESSIVE COMPANIES 181
12.7.2 RESPONSIVE COMPANIES 181
12.7.3 DYNAMIC COMPANIES 181
12.7.4 STARTING BLOCKS 181
12.7.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 183
12.8 VALUATION AND FINANCIAL METRICS OF EV COMPOSITE VENDORS 185
12.9 COMPETITIVE SCENARIO AND TRENDS 186
12.9.1 PRODUCT LAUNCHES 186
12.9.2 DEALS 187
12.9.3 EXPANSIONS 194
13 COMPANY PROFILES 196
13.1 KEY PLAYERS 196
13.1.1 SYENSQO 196
13.1.1.1 Business overview 196
13.1.1.2 Products/Solutions/Services offered 197
13.1.1.3 Recent developments 198
13.1.1.3.1 Product launches 198
13.1.1.3.2 Other developments 198
13.1.1.4 MnM view 198
13.1.1.4.1 Right to win 198
13.1.1.4.2 Strategic choices 199
13.1.1.4.3 Weaknesses and competitive threats 199
13.1.2 TORAY INDUSTRIES, INC. 200
13.1.2.1 Business overview 200
13.1.2.2 Products/Solutions/Services offered 201
13.1.2.3 Recent developments 202
13.1.2.3.1 Product launches 202
13.1.2.3.2 Deals 202
13.1.2.3.3 Expansions 203
13.1.2.4 MnM view 203
13.1.2.4.1 Right to win 203
13.1.2.4.2 Strategic choices 204
13.1.2.4.3 Weaknesses and competitive threats 204
13.1.3 POLYTEC HOLDING AG 205
13.1.3.1 Business overview 205
13.1.3.2 Products/Solutions/Services offered 206
13.1.3.3 Recent developments 207
13.1.3.4 MnM view 207
13.1.3.4.1 Right to win 207
13.1.3.4.2 Strategic choices 207
13.1.3.4.3 Weaknesses and competitive threats 207
13.1.4 OPMOBILITY 208
13.1.4.1 Business overview 208
13.1.4.2 Products/Solutions/Services offered 209
13.1.4.3 Recent developments 210
13.1.4.4 MnM view 211
13.1.4.4.1 Right to win 211
13.1.4.4.2 Strategic choices 212
13.1.4.4.3 Weaknesses and competitive threats 212
13.1.5 FORVIA 213
13.1.5.1 Business overview 213
13.1.5.2 Products/Solutions/Services offered 214
13.1.5.3 Recent developments 215
13.1.5.4 MnM view 215
13.1.5.4.1 Right to win 215
13.1.5.4.2 Strategic choices 215
13.1.5.4.3 Weaknesses and competitive threats 215
13.1.6 ELRINGKLINGER AG 216
13.1.6.1 Business overview 216
13.1.6.2 Products/Solutions/Services offered 217
13.1.6.3 MnM view 218
13.1.6.3.1 Right to win 218
13.1.6.3.2 Strategic choices 218
13.1.6.3.3 Weaknesses and competitive threats 218
13.1.7 HENGRUI CORPORATION (HRC) 219
13.1.7.1 Business overview 219
13.1.7.2 Products/Solutions/Services offered 219
13.1.7.3 Recent developments 220
13.1.7.4 MnM view 220
13.1.7.4.1 Right to win 220
13.1.7.4.2 Strategic choices 220
13.1.7.4.3 Weaknesses and competitive threats 220
13.1.8 EXEL COMPOSITES 221
13.1.8.1 Business overview 221
13.1.8.2 Products/Solutions/Services offered 222
13.1.8.3 MnM view 223
13.1.8.3.1 Right to win 223
13.1.8.3.2 Strategic choices 223
13.1.8.3.3 Weaknesses and competitive threats 223
13.1.9 SGL CARBON 224
13.1.9.1 Business overview 224
13.1.9.2 Products/Solutions/Services offered 225
13.1.9.3 Recent developments 227
13.1.9.3.1 Deals 227
13.1.9.3.2 Expansions 228
13.1.9.4 MnM view 228
13.1.9.4.1 Right to win 228
13.1.9.4.2 Strategic choices 229
13.1.9.4.3 Weaknesses and competitive threats 229
13.1.10 TEIJIN LIMITED 230
13.1.10.1 Business overview 230
13.1.10.2 Products/Solutions/Services offered 231
13.1.10.3 Recent developments 232
13.1.10.3.1 Deals 232
13.1.10.4 MnM view 233
13.1.10.4.1 Right to win 233
13.1.10.4.2 Strategic choices 233
13.1.10.4.3 Weaknesses and competitive threats 233
13.1.11 MITSUBISHI CHEMICAL GROUP CORPORATION 234
13.1.11.1 Business overview 234
13.1.11.2 Products/Solutions/Services offered 235
13.1.11.3 Recent developments 236
13.1.11.3.1 Deals 236
13.1.11.3.2 Expansions 236
13.1.11.4 MnM view 237
13.1.11.4.1 Right to win 237
13.1.11.4.2 Strategic choices 237
13.1.11.4.3 Weaknesses and competitive threats 237
13.1.12 OWENS CORNING 238
13.1.12.1 Business overview 238
13.1.12.2 Products/Solutions/Services offered 239
13.1.12.3 MnM view 240
13.1.12.3.1 Right to win 240
13.1.12.3.2 Strategic choices 240
13.1.12.3.3 Weaknesses and competitive threats 240
13.1.13 PIRAN ADVANCED COMPOSITES 241
13.1.13.1 Business overview 241
13.1.13.2 Products/Solutions/Services offered 241
13.1.13.3 MnM view 242
13.1.13.3.1 Right to win 242
13.1.13.3.2 Strategic choices 242
13.1.13.3.3 Weaknesses and competitive threats 242
13.1.14 MAR-BAL, INC. 243
13.1.14.1 Business overview 243
13.1.14.2 Products/Solutions/Services offered 243
13.1.14.3 MnM view 244
13.1.14.3.1 Right to win 244
13.1.14.3.2 Strategic choices 244
13.1.14.3.3 Weaknesses and competitive threats 244
13.1.15 RÖCHLING SE & CO. KG 245
13.1.15.1 Business overview 245
13.1.15.2 Products/Solutions/Services offered 245
13.1.15.3 MnM view 246
13.1.15.3.1 Right to win 246
13.1.15.3.2 Strategic choices 246
13.1.15.3.3 Weaknesses and competitive threats 246
13.2 OTHER PLAYERS 247
13.2.1 HANKUK CARBON CO., LTD. 247
13.2.2 CIE AUTOMOTIVE INDIA 247
13.2.3 UFP TECHNOLOGIES, INC. 248
13.2.4 ZHONGAO CARBON 248
13.2.5 ATLAS FIBRE 249
13.2.6 KAUTEX 249
13.2.7 ENVALIOR 250
13.2.8 TRB LIGHTWEIGHT STRUCTURES 250
13.2.9 THE GUND COMPANY 251
13.2.10 IDI COMPOSITES INTERNATIONAL 251
14 APPENDIX 252
14.1 DISCUSSION GUIDE 252
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 254
14.3 CUSTOMIZATION OPTIONS 256
14.4 RELATED REPORTS 256
14.5 AUTHOR DETAILS 257
LIST OF TABLES
TABLE 1 EV COMPOSITES MARKET: PORTER’S FIVE FORCES ANALYSIS 55
TABLE 2 EV COMPOSITES MARKET: ROLE OF COMPANIES IN ECOSYSTEM 56
TABLE 3 AVERAGE SELLING PRICE TREND, BY REGION 60
TABLE 4 TOP 10 EXPORTING COUNTRIES OF GLASS FIBERS IN 2023 62
TABLE 5 TOP 10 IMPORTING COUNTRIES OF GLASS FIBERS IN 2023 63
TABLE 6 TOP 10 EXPORTING COUNTRIES OF CARBON FIBERS IN 2023 64
TABLE 7 TOP 10 IMPORTING COUNTRIES OF CARBON FIBERS IN 2023 64
TABLE 8 COMPARATIVE STUDY OF EV COMPOSITE MANUFACTURING PROCESSES 65
TABLE 9 TOP USE CASES AND MARKET POTENTIAL 68
TABLE 10 BEST PRACTICES: COMPANIES IMPLEMENTING USE CASES 68
TABLE 11 CASE STUDIES OF GEN AI IMPLEMENTATION IN EV COMPOSITES MARKET 69
TABLE 12 INTERCONNECTED ADJACENT ECOSYSTEM AND IMPACT ON MARKET PLAYERS 69
TABLE 13 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS IN EV COMPOSITES MARKET 70
TABLE 14 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS IN EV COMPOSITES MARKET 71
TABLE 15 EV COMPOSITES MARKET: TOTAL NUMBER OF PATENTS 72
TABLE 16 LIST OF PATENTS BY BYD CO., LTD. 75
TABLE 17 LIST OF PATENTS BY BEIJING INSTITUTE OF TECHNOLOGY 75
TABLE 18 TOP 10 PATENT OWNERS (US) IN LAST 10 YEARS 76
TABLE 19 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 77
TABLE 20 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND
OTHER ORGANIZATIONS 78
TABLE 21 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND
OTHER ORGANIZATIONS 78
TABLE 22 REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES,
AND OTHER ORGANIZATIONS 79
TABLE 23 EV COMPOSITES MARKET: KEY CONFERENCES AND EVENTS, 2024–2025 79
TABLE 24 EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 85
TABLE 25 EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 86
TABLE 26 EV CARBON FIBER COMPOSITES MARKET, BY REGION, 2022–2029 (USD MILLION) 87
TABLE 27 EV CARBON FIBER COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 87
TABLE 28 EV GLASS FIBER COMPOSITES MARKET, BY REGION, 2022–2029 (USD MILLION) 88
TABLE 29 EV GLASS FIBER COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 88
TABLE 30 OTHER EV FIBER COMPOSITES MARKET, BY REGION, 2022–2029 (USD MILLION) 90
TABLE 31 OTHER EV FIBER COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 90
TABLE 32 EV COMPOSITES MARKET, BY RESIN TYPE, 2022–2029 (USD MILLION) 92
TABLE 33 EV COMPOSITES MARKET, BY RESIN TYPE, 2022–2029 (KILOTON) 93
TABLE 34 EV THERMOSET COMPOSITES MARKET, BY REGION, 2022–2029 (USD MILLION) 94
TABLE 35 EV THERMOSET COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 95
TABLE 36 EV THERMOSET COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (USD MILLION) 95
TABLE 37 EV THERMOSET COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (KILOTON) 95
TABLE 38 EV THERMOPLASTIC COMPOSITES MARKET, BY REGION,
2022–2029 (USD MILLION) 97
TABLE 39 EV THERMOPLASTIC COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 98
TABLE 40 EV THERMOPLASTIC COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (USD MILLION) 98
TABLE 41 EV THERMOPLASTIC COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (KILOTON) 99
TABLE 42 EV COMPOSITES MARKET, BY TYPE, 2022–2029 (USD MILLION) 102
TABLE 43 EV COMPOSITES MARKET, BY TYPE, 2022–2029 (KILOTON) 102
TABLE 44 EV COMPOSITES MARKET IN BATTERY ENCLOSURE APPLICATIONS,
BY TYPE, 2022–2029 (USD MILLION) 103
TABLE 45 EV COMPOSITES MARKET IN BATTERY ENCLOSURE APPLICATIONS,
BY TYPE, 2022–2029 (KILOTON) 103
TABLE 46 EV COMPOSITES MARKET IN INTERIOR APPLICATIONS, BY TYPE,
2022–2029 (USD MILLION) 104
TABLE 47 EV COMPOSITES MARKET IN INTERIOR APPLICATIONS, BY TYPE,
2022–2029 (KILOTON) 104
TABLE 48 EV COMPOSITES MARKET IN EXTERIOR APPLICATIONS, BY TYPE,
2022–2029 (USD MILLION) 105
TABLE 49 EV COMPOSITES MARKET IN EXTERIOR APPLICATIONS, BY TYPE,
2022–2029 (KILOTON) 105
TABLE 50 EV COMPOSITES MARKET IN POWERTRAIN & CHASSIS APPLICATIONS,
BY TYPE, 2022–2029 (USD MILLION) 106
TABLE 51 EV COMPOSITES MARKET IN POWERTRAIN & CHASSIS APPLICATIONS,
BY TYPE, 2022–2029 (KILOTON) 106
TABLE 52 EV COMPOSITES MARKET, BY APPLICATION, 2022–2029 (USD MILLION) 108
TABLE 53 EV COMPOSITES MARKET, BY APPLICATION, 2022–2029 (KILOTON) 109
TABLE 54 EV COMPOSITES MARKET IN EXTERIOR APPLICATIONS, BY FIBER TYPE,
2022–2029 (USD MILLION) 109
TABLE 55 EV COMPOSITES MARKET IN EXTERIOR APPLICATIONS, BY FIBER TYPE,
2022–2029 (KILOTON) 110
TABLE 56 EV COMPOSITES MARKET IN INTERIOR APPLICATIONS, BY FIBER TYPE,
2022–2029 (USD MILLION) 111
TABLE 57 EV COMPOSITES MARKET IN INTERIOR APPLICATIONS, BY FIBER TYPE,
2022–2029 (KILOTON) 111
TABLE 58 EV COMPOSITES MARKET IN POWERTRAIN & CHASSIS APPLICATIONS, BY FIBER TYPE, 2022–2029 (USD MILLION) 112
TABLE 59 EV COMPOSITES MARKET IN POWERTRAIN & CHASSIS APPLICATIONS, BY FIBER TYPE, 2022–2029 (KILOTON) 112
TABLE 60 EV COMPOSITES MARKET IN BATTERY ENCLOSURE APPLICATIONS, BY FIBER TYPE, 2022–2029 (USD MILLION) 113
TABLE 61 EV COMPOSITES MARKET IN BATTERY ENCLOSURE APPLICATIONS, BY FIBER TYPE, 2022–2029 (KILOTON) 113
TABLE 62 COMPARATIVE STUDY OF MAJOR EV COMPOSITE MANUFACTURING PROCESSES 116
TABLE 63 EV COMPOSITES MARKET, BY MANUFACTURING PROCESS,
2022–2029 (USD MILLION) 117
TABLE 64 EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (KILOTON) 117
TABLE 65 INJECTION MOLDING: EV COMPOSITES MARKET, 2022–2029 (USD MILLION) 118
TABLE 66 INJECTION MOLDING: EV COMPOSITES MARKET, 2022–2029 (KILOTON) 118
TABLE 67 COMPRESSION MOLDING: EV COMPOSITES MARKET, BY REGION,
2022–2029 (USD MILLION) 119
TABLE 68 COMPRESSION MOLDING: EV COMPOSITES MARKET, BY REGION,
2022–2029 (KILOTON) 120
TABLE 69 RESIN TRANSFER MOLDING: EV COMPOSITES MARKET, BY REGION,
2022–2029 (USD MILLION) 121
TABLE 70 RESIN TRANSFER MOLDING: EV COMPOSITES MARKET, BY REGION,
2022–2029 (KILOTON) 121
TABLE 71 OTHER MANUFACTURING PROCESSES: EV COMPOSITES MARKET, BY REGION, 2022–2029 (USD MILLION) 123
TABLE 72 OTHER MANUFACTURING PROCESSES: EV COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 123
TABLE 73 EV COMPOSITES MARKET, BY REGION, 2022–2029 (USD MILLION) 126
TABLE 74 EV COMPOSITES MARKET, BY REGION, 2022–2029 (KILOTON) 126
TABLE 75 ASIA PACIFIC: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 128
TABLE 76 ASIA PACIFIC: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 128
TABLE 77 ASIA PACIFIC: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (USD MILLION) 128
TABLE 78 ASIA PACIFIC: EV COMPOSITES MARKET, BY RESIN TYPE, 2022–2029 (KILOTON) 129
TABLE 79 ASIA PACIFIC: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS,
2022–2029 (USD MILLION) 129
TABLE 80 ASIA PACIFIC: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS,
2022–2029 (KILOTON) 129
TABLE 81 ASIA PACIFIC: EV COMPOSITES MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 130
TABLE 82 ASIA PACIFIC: EV COMPOSITES MARKET, BY COUNTRY, 2022–2029 (KILOTON) 130
TABLE 83 CHINA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 131
TABLE 84 CHINA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 131
TABLE 85 JAPAN: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 132
TABLE 86 JAPAN: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 132
TABLE 87 INDIA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 133
TABLE 88 INDIA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 133
TABLE 89 SOUTH KOREA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 134
TABLE 90 SOUTH KOREA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 134
TABLE 91 AUSTRALIA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 135
TABLE 92 AUSTRALIA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 135
TABLE 93 REST OF ASIA PACIFIC: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 136
TABLE 94 REST OF ASIA PACIFIC: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (KILOTON) 136
TABLE 95 EUROPE: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 138
TABLE 96 EUROPE: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 138
TABLE 97 EUROPE: EV COMPOSITES MARKET, BY RESIN TYPE, 2022–2029 (USD MILLION) 138
TABLE 98 EUROPE: EV COMPOSITES MARKET, BY RESIN TYPE, 2022–2029 (KILOTON) 139
TABLE 99 EUROPE: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS,
2022–2029 (USD MILLION) 139
TABLE 100 EUROPE: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS,
2022–2029 (KILOTON) 139
TABLE 101 EUROPE: EV COMPOSITES MARKET, BY COUNTRY, 2022–2029 (USD MILLION) 140
TABLE 102 EUROPE: EV COMPOSITES MARKET, BY COUNTRY, 2022–2029 (KILOTON) 140
TABLE 103 GERMANY: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 141
TABLE 104 GERMANY: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 141
TABLE 105 FRANCE: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 142
TABLE 106 FRANCE: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 142
TABLE 107 UK: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 143
TABLE 108 UK: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 143
TABLE 109 ITALY: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 144
TABLE 110 ITALY: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 144
TABLE 111 SPAIN: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 145
TABLE 112 SPAIN: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 145
TABLE 113 RUSSIA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 146
TABLE 114 RUSSIA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 146
TABLE 115 BELGIUM: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 147
TABLE 116 BELGIUM: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 147
TABLE 117 REST OF EUROPE: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 148
TABLE 118 REST OF EUROPE: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (KILOTON) 148
TABLE 119 NORTH AMERICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 150
TABLE 120 NORTH AMERICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (KILOTON) 150
TABLE 121 NORTH AMERICA: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (USD MILLION) 150
TABLE 122 NORTH AMERICA: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (KILOTON) 151
TABLE 123 NORTH AMERICA: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (USD MILLION) 151
TABLE 124 NORTH AMERICA: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (KILOTON) 151
TABLE 125 NORTH AMERICA: EV COMPOSITES MARKET, BY COUNTRY,
2022–2029 (USD MILLION) 152
TABLE 126 NORTH AMERICA: EV COMPOSITES MARKET, BY COUNTRY, 2022–2029 (KILOTON) 152
TABLE 127 US: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 153
TABLE 128 US: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 153
TABLE 129 CANADA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 154
TABLE 130 CANADA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 154
TABLE 131 LATIN AMERICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 155
TABLE 132 LATIN AMERICA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 155
TABLE 133 LATIN AMERICA: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (USD MILLION) 156
TABLE 134 LATIN AMERICA: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (KILOTON) 156
TABLE 135 LATIN AMERICA: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (USD MILLION) 156
TABLE 136 LATIN AMERICA: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (KILOTON) 157
TABLE 137 LATIN AMERICA: EV COMPOSITES MARKET, BY COUNTRY,
2022–2029 (USD MILLION) 157
TABLE 138 LATIN AMERICA: EV COMPOSITES MARKET, BY COUNTRY, 2022–2029 (KILOTON) 157
TABLE 139 BRAZIL: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 158
TABLE 140 BRAZIL: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 158
TABLE 141 MEXICO: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 159
TABLE 142 MEXICO: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 159
TABLE 143 REST OF LATIN AMERICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 160
TABLE 144 REST OF LATIN AMERICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (KILOTON) 160
TABLE 145 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 161
TABLE 146 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (KILOTON) 161
TABLE 147 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (USD MILLION) 162
TABLE 148 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY RESIN TYPE,
2022–2029 (KILOTON) 162
TABLE 149 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (USD MILLION) 162
TABLE 150 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY MANUFACTURING PROCESS, 2022–2029 (KILOTON) 163
TABLE 151 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY COUNTRY,
2022–2029 (USD MILLION) 163
TABLE 152 MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY COUNTRY,
2022–2029 (KILOTON) 164
TABLE 153 UAE: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 165
TABLE 154 UAE: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 165
TABLE 155 REST OF GCC COUNTRIES: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 166
TABLE 156 REST OF GCC COUNTRIES: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (KILOTON) 166
TABLE 157 SOUTH AFRICA: EV COMPOSITES MARKET, BY FIBER TYPE,
2022–2029 (USD MILLION) 167
TABLE 158 SOUTH AFRICA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 167
TABLE 159 REST OF MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (USD MILLION) 168
TABLE 160 REST OF MIDDLE EAST & AFRICA: EV COMPOSITES MARKET, BY FIBER TYPE, 2022–2029 (KILOTON) 168
TABLE 161 STRATEGIES ADOPTED BY EV COMPOSITE MANUFACTURERS 169
TABLE 162 DEGREE OF COMPETITION: EV COMPOSITES MARKET 172
TABLE 163 EV COMPOSITES MARKET: FIBER TYPE FOOTPRINT 178
TABLE 164 EV COMPOSITES MARKET: TYPE FOOTPRINT 178
TABLE 165 EV COMPOSITES MARKET: RESIN TYPE FOOTPRINT 179
TABLE 166 EV COMPOSITES MARKET: APPLICATION FOOTPRINT 180
TABLE 167 EV COMPOSITES MARKET: REGION FOOTPRINT 180
TABLE 168 EV COMPOSITES MARKET: KEY STARTUPS/SMES 183
TABLE 169 EV COMPOSITES MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 184
TABLE 170 EV COMPOSITES MARKET: PRODUCT LAUNCHES, JANUARY 2018‐JUNE 2024 186
TABLE 171 EV COMPOSITES MARKET: DEALS, JANUARY 2018–JUNE 2024 187
TABLE 172 EV COMPOSITES MARKET: EXPANSIONS, JANUARY 2018–JUNE 2024 194
TABLE 173 SYENSQO: COMPANY OVERVIEW 196
TABLE 174 SYENSQO: PRODUCTS/SOLUTIONS/SERVICES OFFERED 197
TABLE 175 SYENSQO: PRODUCT LAUNCHES, JANUARY 2018–JUNE 2024 198
TABLE 176 SYENSQO: OTHER DEVELOPMENTS, JANUARY 2018–JUNE 2024 198
TABLE 177 TORAY INDUSTRIES, INC.: COMPANY OVERVIEW 200
TABLE 178 TORAY INDUSTRIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 201
TABLE 179 TORAY INDUSTRIES, INC.: PRODUCT LAUNCHES, JANUARY 2018–JUNE 2024 202
TABLE 180 TORAY INDUSTRIES, INC.: DEALS, JANUARY 2018–JUNE 2024 202
TABLE 181 TORAY INDUSTRIES, INC.: EXPANSIONS, JANUARY 2018–JUNE 2024 203
TABLE 182 POLYTEC HOLDING AG: COMPANY OVERVIEW 205
TABLE 183 POLYTEC HOLDING AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 206
TABLE 184 POLYTEC HOLDING AG: DEALS, JANUARY 2018–JUNE 2024 207
TABLE 185 OPMOBILITY: COMPANY OVERVIEW 208
TABLE 186 OPMOBILITY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 209
TABLE 187 OPMOBILITY: DEALS, JANUARY 2018–JUNE 2024 210
TABLE 188 OPMOBILITY: EXPANSIONS, JANUARY 2018–JUNE 2024 211
TABLE 189 FORVIA: COMPANY OVERVIEW 213
TABLE 190 FORVIA: PRODUCTS/SOLUTIONS/SERVICES OFFERED 214
TABLE 191 FORVIA: DEALS, JANUARY 2018–JUNE 2024 215
TABLE 192 ELRINGKLINGER AG: COMPANY OVERVIEW 216
TABLE 193 ELRINGKLINGER AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 217
TABLE 194 HENGRUI CORPORATION (HRC): COMPANY OVERVIEW 219
TABLE 195 HENGRUI CORPORATION (HRC): PRODUCTS/SOLUTIONS/SERVICES OFFERED 219
TABLE 196 HRC (HENGRUI CORPORATION): DEALS, JANUARY 2018–JUNE 2024 220
TABLE 197 EXEL COMPOSITES: COMPANY OVERVIEW 221
TABLE 198 EXEL COMPOSITES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 222
TABLE 199 SGL CARBON: COMPANY OVERVIEW 224
TABLE 200 SGL CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED 225
TABLE 201 SGL CARBON: DEALS, JANUARY 2018–JUNE 2024 227
TABLE 202 SGL CARBON: EXPANSIONS, JANUARY 2018–JUNE 2024 228
TABLE 203 TEIJIN LIMITED: COMPANY OVERVIEW 230
TABLE 204 TEIJIN LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 231
TABLE 205 TEIJIN LIMITED: DEALS, JANUARY 2018–JUNE 2024 232
TABLE 206 MITSUBISHI CHEMICAL GROUP CORPORATION: COMPANY OVERVIEW 234
TABLE 207 MITSUBISHI CHEMICAL GROUP CORPORATION: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 235
TABLE 208 MITSUBISHI CHEMICAL GROUP CORPORATION: DEALS, JANUARY 2018–JUNE 2024 236
TABLE 209 MITSUBISHI CHEMICAL GROUP CORPORATION: EXPANSIONS,
JANUARY 2018–JUNE 2024 236
TABLE 210 OWENS CORNING: COMPANY OVERVIEW 238
TABLE 211 OWENS CORNING: PRODUCTS/SOLUTIONS/SERVICES OFFERED 239
TABLE 212 PIRAN ADVANCED COMPOSITES: COMPANY OVERVIEW 241
TABLE 213 PIRAN ADVANCED COMPOSITES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 241
TABLE 214 MAR-BAL, INC.: COMPANY OVERVIEW 243
TABLE 215 MAR-BAL, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 243
TABLE 216 RÖCHLING SE & CO. KG: COMPANY OVERVIEW 245
TABLE 217 RÖCHLING SE & CO. KG: PRODUCTS/SOLUTIONS/SERVICES OFFERED 245
TABLE 218 HANKUK CARBON CO., LTD.: COMPANY OVERVIEW 247
TABLE 219 CIE AUTOMOTIVE INDIA: COMPANY OVERVIEW 247
TABLE 220 UFP TECHNOLOGIES, INC.: COMPANY OVERVIEW 248
TABLE 221 ZHONGAO CARBON: COMPANY OVERVIEW 248
TABLE 222 ATLAS FIBRE: COMPANY OVERVIEW 249
TABLE 223 KAUTEX: COMPANY OVERVIEW 249
TABLE 224 ENVALIOR: COMPANY OVERVIEW 250
TABLE 225 TRB LIGHTWEIGHT STRUCTURES: COMPANY OVERVIEW 250
TABLE 226 THE GUND COMPANY: COMPANY OVERVIEW 251
TABLE 227 IDI COMPOSITES INTERNATIONAL: COMPANY OVERVIEW 251
LIST OF FIGURES
FIGURE 1 EV COMPOSITES MARKET SEGMENTATION 26
FIGURE 2 EV COMPOSITES MARKET: RESEARCH DESIGN 28
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 34
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 34
FIGURE 5 EV COMPOSITES MARKET: DATA TRIANGULATION 35
FIGURE 6 CARBON FIBER-BASED EV COMPOSITES ACCOUNTED FOR LARGEST
MARKET SHARE IN 2023 38
FIGURE 7 THERMOSET SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2023 39
FIGURE 8 INJECTION MOLDING SEGMENT TO DOMINATE EV COMPOSITES MARKET IN 2023 39
FIGURE 9 ULTRA-PREMIUM SEGMENT DOMINATED MARKET, BY TYPE, IN 2023 40
FIGURE 10 EXTERIOR APPLICATIONS SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2023 40
FIGURE 11 ASIA PACIFIC TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 41
FIGURE 12 HIGH DEMAND FOR LIGHTWEIGHT MATERIALS IN EV INDUSTRY TO DRIVE MARKET 42
FIGURE 13 CARBON FIBERS SEGMENT HELD LARGEST MARKET SHARE IN 2023 42
FIGURE 14 THERMOSET RESINS SEGMENT HELD LARGER MARKET SHARE IN 2023 43
FIGURE 15 INJECTION MOLDING SEGMENT ACCOUNTED FOR LARGEST MARKET
SHARE IN 2023 43
FIGURE 16 NON-PREMIUM SEGMENT HELD LARGEST MARKET SHARE IN 2023 44
FIGURE 17 ASIA PACIFIC ACCOUNTED FOR LARGEST SHARE IN 2023 44
FIGURE 18 INDIA TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 45
FIGURE 19 EV COMPOSITES MARKET: MARKET DYNAMICS 46
FIGURE 20 EV SALES BY MAJOR MARKETS (REGION/COUNTRY), 2023 47
FIGURE 21 EV SALES FORECAST 48
FIGURE 22 PUBLICLY AVAILABLE EV CHARGING INFRASTRUCTURE, 2015–2021 50
FIGURE 23 EV SALES BY ORIGIN OF CARMAKER IN 2023 51
FIGURE 24 EV COMPOSITES MARKET: PORTER’S FIVE FORCES ANALYSIS 53
FIGURE 25 EV COMPOSITES MARKET: SUPPLY CHAIN ANALYSIS 55
FIGURE 26 EV COMPOSITES MARKET: KEY STAKEHOLDERS IN ECOSYSTEM 57
FIGURE 27 EV COMPOSITES MARKET: ECOSYSTEM 57
FIGURE 28 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY FIBER TYPE 58
FIGURE 29 AVERAGE SELLING PRICE OF EV COMPOSITES, BY RESIN TYPE (USD/KG) 58
FIGURE 30 AVERAGE SELLING PRICE OF EV COMPOSITES, BY APPLICATION TYPE (USD/KG) 59
FIGURE 31 AVERAGE SELLING PRICE OF EV COMPOSITES, BY MANUFACTURING
PROCESS (USD/KG) 59
FIGURE 32 AVERAGE SELLING PRICE OF EV COMPOSITES, BY TYPE (USD/KG) 60
FIGURE 33 EV COMPOSITES MARKET: VALUE CHAIN ANALYSIS 61
FIGURE 34 EXPORT OF GLASS FIBERS, BY KEY COUNTRY, 2018–2022 (USD THOUSAND) 62
FIGURE 35 IMPORT OF GLASS FIBERS, BY KEY COUNTRY, 2018–2022 (USD THOUSAND) 63
FIGURE 36 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR
TOP THREE APPLICATIONS 70
FIGURE 37 KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 71
FIGURE 38 PATENT ANALYSIS, BY PATENT TYPE 72
FIGURE 39 PATENT PUBLICATION TREND, 2014−2024 73
FIGURE 40 EV COMPOSITES MARKET: LEGAL STATUS OF PATENTS 73
FIGURE 41 CHINESE JURISDICTION REGISTERED HIGHEST NUMBER OF PATENTS 74
FIGURE 42 JIANGSU UNIVERSITY REGISTERED HIGHEST NUMBER OF PATENTS 74
FIGURE 43 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS IN
EV COMPOSITES MARKET 82
FIGURE 44 DEALS AND FUNDING IN EV COMPOSITES MARKET SOARED IN 2022 83
FIGURE 45 PROMINENT EV COMPOSITE MANUFACTURING FIRMS IN 2024 (USD BILLION) 83
FIGURE 46 CARBON FIBER SEGMENT TO REGISTER HIGHEST CAGR DURING
FORECAST PERIOD 85
FIGURE 47 THERMOPLASTIC COMPOSITES TO REGISTER HIGHER GROWTH DURING
FORECAST PERIOD 92
FIGURE 48 NON-PREMIUM SEGMENT TO REGISTER HIGHEST CAGR DURING
FORECAST PERIOD 101
FIGURE 49 EXTERIOR APPLICATIONS TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 108
FIGURE 50 RESIN TRANSFER MOLDING PROCESS SEGMENT TO REGISTER HIGHEST
CAGR DURING FORECAST PERIOD 117
FIGURE 51 INDIA TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 125
FIGURE 52 ASIA PACIFIC: EV COMPOSITES MARKET SNAPSHOT 127
FIGURE 53 EUROPE: EV COMPOSITES MARKET SNAPSHOT 137
FIGURE 54 NORTH AMERICA: EV COMPOSITES MARKET SNAPSHOT 149
FIGURE 55 EV COMPOSITES MARKET: REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS 171
FIGURE 56 SHARES OF KEY PLAYERS IN EV COMPOSITES MARKET 172
FIGURE 57 EV COMPOSITES MARKET: TOP TRENDING BRAND/PRODUCT 174
FIGURE 58 BRAND/PRODUCT COMPARATIVE ANALYSIS, BY EV COMPOSITE PRODUCT 174
FIGURE 59 EV COMPOSITES MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023 176
FIGURE 60 EV COMPOSITES MARKET: COMPANY FOOTPRINT 177
FIGURE 61 EV COMPOSITES MARKET: COMPANY EVALUATION MATRIX
(STARTUPS/SMES), 2023 182
FIGURE 62 EV COMPOSITES MARKET: EV/EBITDA OF KEY VENDORS 185
FIGURE 63 YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND 5-YEAR STOCK BETA OF
KEY VENDORS 185
FIGURE 64 SYENSQO: COMPANY SNAPSHOT 197
FIGURE 65 TORAY INDUSTRIES, INC.: COMPANY SNAPSHOT 201
FIGURE 66 POLYTEC HOLDING AG: COMPANY SNAPSHOT 206
FIGURE 67 OPMOBILITY: COMPANY SNAPSHOT 209
FIGURE 68 FORVIA: COMPANY SNAPSHOT 214
FIGURE 69 ELRINGKLINGER AG: COMPANY SNAPSHOT 217
FIGURE 70 EXEL COMPOSITES: COMPANY SNAPSHOT 222
FIGURE 71 SGL CARBON: COMPANY SNAPSHOT 225
FIGURE 72 TEIJIN LIMITED: COMPANY SNAPSHOT 231
FIGURE 73 MITSUBISHI CHEMICAL GROUP CORPORATION: COMPANY SNAPSHOT 234
FIGURE 74 OWENS CORNING: COMPANY SNAPSHOT 239
