Composite construction transformed racing car design, and the reasons are more specific than lightness.
Stiffness
Resistance to flex under load.
Which allows suspension and aerodynamics to work as designed.
Directional properties
Fibre orientation determining strength along particular axes.
Which lets designers put material only where load exists.
Crash structures
Controlled crushing absorbing energy.
Which is why composite survival cells perform so well.
Manufacturing
Layup, curing and inspection.
Which is labour intensive and expensive.
Why stiffness matters more than lightness
A chassis that flexes under load moves the suspension geometry and the aerodynamic surfaces in ways nobody designed.
Which means the car behaves unpredictably and setup work becomes guesswork.
Composite monocoques allowed designers to assume the chassis was rigid, and everything else could then be tuned deliberately.
Energy absorption in crashes
Composite structures crush progressively rather than deforming like metal.
Which absorbs energy over a controlled distance.
The survival cell remaining intact while structures around it disintegrate is the design intent, not a failure.
Inspection
Damage that is not visible externally.
Which requires ultrasound or similar methods.
Cost and repairability
Expensive to make and frequently not economically repairable.
Road car use
Appearing in high-end production vehicles for the same reasons.
How it is actually made
Sheets of pre-impregnated fibre laid by hand into a mould in a specified orientation, then cured under heat and pressure.
Which is skilled manual work that has resisted automation for complex parts.
A monocoque takes weeks and a large number of individual plies, each placed deliberately.
Honeycomb cores
Sandwich structures with lightweight cores between composite skins.
Which provides stiffness at very low weight.
Testing and homologation
Mandatory crash tests before a chassis may compete.
Which are destructive and expensive.
Composite failure characteristics
Sudden rather than progressive in some loading modes.
Which designers account for explicitly.
Sustainability questions
Difficulty recycling composite structures.
Which the industry is working on.
Why it changed racing car design
Before composites, a chassis stiff enough to make suspension predictable was necessarily heavy, and a light chassis flexed.
Which meant designers could not have both, and setup work fought the structure.
Composite monocoques removed that constraint, and the aerodynamic and suspension development of the following decades depended on it.
Safety record
Survival cells remaining intact in extremely severe accidents.
Which has saved a substantial number of lives.
Drivers have walked away from crashes that would have been unsurvivable in metal structures.
Damage assessment
Non-destructive testing after any significant impact.
Which is mandatory before a chassis returns to use.
Cost implications
Chassis representing a major asset with a limited life.
Elsewhere
Aerospace, cycling and high-end road cars using the same principles.
A note on sources and figures
Technical detail in motorsport is unusually well documented in some areas and closely guarded in others. Regulations, safety standards and championship structures are published openly by governing bodies. Setup data, aerodynamic figures and strategy models are competitive assets and are not.
What circulates publicly about the guarded material comes from team personnel speaking in general terms, from technical journalists with paddock access, and from the small amount that emerges through regulation disputes. It is generally directionally right and rarely precise, and anything quoted as an exact figure should be treated with some caution.
Why any of this matters to a spectator
Motorsport is more interesting when you can see what is actually being decided. A driver lifting on a straight, a team pitting a lap earlier than expected, a car running a visibly different wing setting from its team mate: each of those is a choice with reasoning behind it.
Broadcast coverage has become much better at explaining this than it once was, and there is a limit to what fits between corners. Knowing the underlying mechanisms fills the rest in, and it turns a procession into something considerably more absorbing.
Where to look for more
Governing body technical and sporting regulations are freely available and are the authoritative source on what is and is not permitted. Specialist technical journalism, engineering society publications and books by former engineers cover the underlying principles properly. Team media output is informative and is promotional material rather than documentation.
One correction worth making
Motorsport coverage tends to attribute outcomes to individual brilliance, because that is the better story. Most results are produced by preparation, process and a large number of people who never appear on screen.
Both accounts are partly true, and the second one explains considerably more of what actually happens over a season. The drivers themselves are usually the first to say so, and it rarely makes the highlights package.
Further reading
Books written by working engineers and team personnel are the best accessible source on this, and several are written for general readers rather than for specialists. Governing body regulations are dry and are the definitive answer to most questions about what teams are and are not allowed to do.