According to the report by Expert Market Research (EMR), the Australia automotive glass fibre composites market size reached a value of USD 158.15 million in 2023. Aided by the increasing demand for lightweight and fuel-efficient vehicles and the growing applications of glass fibre composites in the automotive sector, the market is projected to further grow at a CAGR of 3.70% between 2024 and 2032 to reach a value of USD 221.2 million by 2032.
Glass fibre composites are materials made from glass fibres embedded in a resin matrix. They are widely used in the automotive sector for their excellent mechanical properties, such as high strength-to-weight ratio, corrosion resistance, and durability. These composites are commonly used in various automotive components, including body panels, structural parts, and interior components, contributing to the overall reduction in vehicle weight and improvement in fuel efficiency.
The increasing demand for lightweight and fuel-efficient vehicles is driving the Australia automotive glass fibre composites market growth. With the growing awareness of environmental sustainability and the need to reduce carbon emissions, there has been a significant shift towards the adoption of lightweight materials in the automotive sector. Glass fibre composites, with their superior strength-to-weight ratio, play a crucial role in achieving this objective by reducing the overall weight of vehicles, thereby enhancing fuel efficiency and lowering emissions.
Get a Free Sample Report with Table of Contents:
https://www.expertmarketresearch.com/reports/australia-automotive-glass-fibre-composites-market/requestsample
In the production of body panels, glass fibre composites offer superior impact resistance and durability, contributing to the safety and longevity of vehicles. Structural parts made from glass fibre composites provide enhanced rigidity and strength, improving the overall performance and stability of vehicles. Additionally, the use of glass fibre composites in interior components, such as dashboards and door panels, enhances the aesthetic appeal and comfort of vehicles.
Further, the growing demand for electric vehicles (EVs) has led to an increased focus on the use of lightweight materials, such as glass fibre composites, in their production. With the rise of electric vehicles and the increasing popularity of sustainable transportation solutions, the automotive industry is increasingly adopting glass fibre composites to reduce the weight of electric vehicles, thereby improving their battery efficiency and driving range and consequently driving up the Australia automotive glass fibre composites market share.
Read Full Report with Table of Contents:
https://www.expertmarketresearch.com/reports/australia-automotive-glass-fibre-composites-market
Technological advancements in composite materials have significantly enhanced the properties and performance of glass fibre composites. Innovations in resin formulations, fibre reinforcement techniques, and manufacturing processes have led to the development of advanced glass fibre composites with improved mechanical properties, durability, and cost-effectiveness. These advancements are driving the adoption of glass fibre composites in the automotive industry, further propelling the Australia automotive glass fibre composites expansion.
New South Wales, particularly Sydney, is a key market for automotive glass fibre composites. The region’s advanced manufacturing capabilities and strong industrial base drive significant demand for these materials. The automotive sector in New South Wales benefits from the presence of research institutions and innovation hubs, which support the development and adoption of high-performance glass fibre composites. Additionally, the state’s focus on sustainable practices and environmental regulations further promotes the use of lightweight composites in automotive manufacturing to reduce emissions and improve fuel efficiency.
Victoria, with Melbourne as its industrial heart, is another major market for automotive glass fibre composites. The region’s diverse industrial landscape, which includes automotive manufacturing, advanced materials, and engineering sectors, drives the demand for these composites in various applications. Victoria’s robust infrastructure projects and the automotive sector’s growth contribute to the increasing consumption of glass fibre composites. The state’s emphasis on innovation and technology supports the development of advanced composites, enhancing their application in vehicle manufacturing for improved performance and sustainability.
Market Segmentation
The market can be divided based on the type, application, and region
Market Breakup by Type
- Short Fibre Thermoplastic
- Long Fibre Thermoplastic
- Continuous Fibre Thermoplastic
- Others
Market Breakup by Application
- Interior
- Exterior
- Power-train Components
- Structural Assembly
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in Australia automotive glass fibre composites market. Some of the major players explored in the report by Expert Market Research are as follows:
- ATL Composites
- Australian Fibreglass Composites Pty.Ltd.
- Topstage Composites Pty Ltd.
- Composite Materials Engineering Pty Ltd.
- Craft Fibreglass Composites
- Others
About Us
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.
Our high-quality, data-driven analysis provides the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving Batteryiness environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today’s competitive market.
Don’t miss the opportunity to elevate your Batteryiness intelligence and strengthen your strategic planning. Secure your organisation’s future success by acquiring one of our Expert Market Research reports today.
