The Nordic Automotive Composites Market size is expected to reach US$ 153.60 million by 2031 from US$ 91.22 million in 2024. The market is estimated to record a CAGR of 8.0% from 2025 to 2031.
Executive Summary and Market Analysis
The Nordic automotive composites market is experiencing a notable expansion, driven by the region’s strong commitment to sustainability, innovation, and the integration of advanced technological solutions. As automotive manufacturers increasingly focus on the development of autonomous driving systems, electric vehicles, and interconnected mobility platforms, the demand for lightweight, durable, and energy-efficient materials, including composites, is on the rise. With the growing sophistication of in-vehicle electronics, infotainment systems, and autonomous driving features, composite materials are becoming increasingly crucial for reducing vehicle weight, enhancing energy efficiency, and improving overall vehicle performance.
Download our Sample PDF Report
@ https://www.businessmarketinsights.com/sample/BMIRE00031223
Market Outlook
The Nordic region, with its well-established automotive manufacturing sector, particularly in Sweden and Norway, is at the forefront of electric vehicle production, consequently fueling the demand for automotive composites. Sweden, home to prominent automotive companies such as Volvo, is a key player in this market, strategically leveraging advanced composite materials to optimize vehicle performance and minimize emissions. Norway, with its strong governmental support and high adoption rates for electric vehicles, is also generating significant demand for lightweight materials that enhance energy efficiency. The growing societal and regulatory emphasis on reducing greenhouse gas emissions and transitioning towards more sustainable transportation options is driving automakers to increasingly adopt advanced composite materials such as carbon fiber, natural fiber-reinforced polymers, and fiberglass.
Nordic Automotive Composites Market Country Insights
The surge in e-commerce activities has led to a heightened demand for commercial vehicles, particularly smaller vans optimized for efficient urban navigation for last-mile delivery services. This evolving trend is reshaping the logistics landscape and amplifying the need for versatile commercial transportation solutions. According to data from the World Trend Plus’s Association: Automobile Sector, Finland recorded 15,221 new commercial vehicle registrations in 2023, an increase from 14,948 units in 2022, indicating a positive growth trajectory within the sector. Automotive composites are extensively utilized in the manufacturing of commercial vehicles due to their inherent ability to reduce overall vehicle weight, improve aerodynamic characteristics, and enhance the strength-to-weight ratio. Consequently, the escalating demand for commercial vehicles serves as a significant catalyst for the adoption of automotive composites within the Finnish market.
Nordic Automotive Composites Market Segmentation
Nordic Automotive Composites Market: By Fiber Type
- Glass Fiber Composites
- Carbon Fiber Composites
Nordic Automotive Composites Market: By Resin Type
- Thermoset
- Thermoplastics
Nordic Automotive Composites Market: By Technology
- Pultrusion
- Injection Molding
- Compression Molding
Nordic Automotive Composites Market: By Vehicle Type
- Passenger Cars
- Commercial Vehicles
- Two Wheelers
Nordic Automotive Composites Market: Regions and Countries Covered
Nordic
- Sweden
- Denmark
- Norway
- Finland
Nordic Automotive Composites Market: Market leaders and key company profiles
- Gurit Holdings AG
- Hexcel Corp
- Mitsubhishi Chemical Group
- SGL Carbon SE
- Solvay SA
- Teijin Ltd
- DuPont de Numours Inc
- Toray Industries
- Atlas Fibre
- Elaghmore Advisor LLP
About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications
