Global Automotive Composite Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global automotive composite market in its upcoming report titled, “Global Automotive Composite Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global automotive composite market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive composite market report has been segmented on the basis of type, application, and region.

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Composites are most widely used materials in automotive manufacturing companies, owing to their property to adapt different shapes and relative ease of combination with various elements to mold into particular shape and show desirable properties. Composites offer various advantages over conventional steel and injection molded automotive parts such as cost reduction, recyclability, and weight reduction in various components used in automotive sector.

Increasing technological advancements and constant focus on manufacturing high performance vehicle have surged automotive composites demand. Composite is a combination of two or more insoluble materials and chemically different phases which are made up of high performance fibers such as glass or carbon. It is combined with various materials to provide much more improved properties as compared to the original properties of individual materials. Automotive composites are employed in a manufacturing process of vehicles like trolleys, trucks, cars, and others, which helps reduce weight by approximately 60% than iron or steel and are good in terms of strength and stiffness.

In addition, automotive composites are resistant to corrosion, unlike other metals. Vehicle weight is important factor with respect to performance of a vehicle. These automotive composites can increase fuel efficiency of vehicle by reducing vehicle weight. Automotive composites are added to vehicle’s body in single and multiple layers. Two materials when mixed produce the sandwich composite which is used in manufacturing of inner coatings and roof of vehicle. Automotive composites are used in manufacturing and refurbishing of vehicles like utility vehicles, cars, and inner coatings of vehicles, buses, trucks, and vehicle interiors. These composites increase vehicle’s resistance to heat and reduce external impact on vehicle.

However, high capital investment required for producing automotive composites and limited technological advancements with respect to automotive manufacturing in emerging economies are major factors expected to restrain growth of the market.

Europe automotive composite market is estimated to account for major share in terms of revenue in 2017, and is expected to maintain its dominance over the forecast period, owing to increasing demand for automotive composites from original equipment manufacturers in various countries in this region. In addition, growth in European market is due to rising demand for better performance materials which results in high strength, lightweight, and reduced CO2 emissions of vehicles. Asia Pacific automotive composite market is projected to witness fastest growth in terms of revenue over the forecast period.

Global Automotive Composite Market Segmentation:

Segmentation by type:

• Carbon composites
• Glass composites
• Natural composites
• Other composites (Metal and Fiber)

Segmentation by application:

• Interior components
• Exterior components
• Powertrain components
• Chassis components

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

• Cytec Solvay Group
• Mitsubishi Rayon Co., Ltd.
• Teijin Limited
• Toray Industries, Inc.
• Koninklijke Ten Cate bv
• Jushi Group Co., Ltd.
• SGL Group - The Carbon Company
• Owens Corning
• DowAksa
• Johns Manville