Global Automotive Composite Market Outlook:
The latest report by IMARC Group, titled “Automotive Composite Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the Automotive Composite Market Report. The report also includes competitor and regional analysis, and contemporary advancements in the market.The global automotive composite market is expected to exhibit a CAGR of 10.03% during 2022-2027.
Automotive composites are made using high-performance fibers like carbon or glass and adhesive binders. They are applied on various automotive parts to offer enhanced properties compared to individual materials. They provide high strength, ease in manufacturing, and excellent energy-absorbing and dimensional stability. As a result, original equipment manufacturers (OEMs) worldwide are replacing steel with automotive composites to improve the safety and fuel efficiency of vehicles.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic.
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Global Automotive Composite Market Trends:
Due to the rising air pollution, environmental agencies and governmental authorities of numerous countries are implementing stringent regulations to minimize carbon dioxide (CO2) emissions from automobiles. Consequently, OEMs are relying on automotive composites to reduce the weight of vehicles and maintain their structural integrity.
Moreover, the increasing traction of electric vehicles (EVs), along with the rising focus on redesigning existing vehicles, is driving the growth of the market. Apart from this, the key players are coming up with low-cost manufacturing methods for automotive composites, which is expected to impel market growth.
Global Automotive Composite Market Analysis and Segmentation
Competitive Landscape With Key Players :
- Gurit Holding AG
- Hexcel Corporation
- Huntsman Corporation
- Johns Manville (Berkshire Hathaway)
- Mitsubishi Chemical Carbon Fiber and Composites Inc. (Mitsubishi Chemical Holdings Corporation)
- Scott Bader Company Ltd
- SGL Carbon
- Teijin Limited
- Toray Industries Inc.
- UFP Technologies Inc.
Breakup by Material Type:
- Glass Fiber
- Carbon Fiber
By Manufacturing Process:
- Compression Molding
- Injection Molding
- Resin Transfer Molding (RTM)
Breakup by Application:
Breakup by Regional Insights:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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