Automotive Composites Market: Reshaping Automobile Designs And Performance

By Goldstein Market Intelligence || 2019-01-10 6:48:09 AM

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According to Goldstein Research, “Stringent emission regulations and automobile manufacturer’s inclination towards boosting fuel efficiency and weight reduction are the major factors for the growth of the Automotive Composites Market.”Moreover, the advancement in technology of low-cost manufacturing methods for automotive composites is gaining significant traction, which is the major trend that can boost the growth of the Automotive Composites Market.

Automotive Composites Market Analysis

The global Automotive Composite Market is segmented based on product, by resin type and by applications. The product type is further bifurcated metal composites, polymer composites, and ceramic composites. Based on product type, polymer composites accounted for the highest market share of more than 70% in the global Automotive Composites Market. On the other hand, carbon composites are gaining huge popularity in premium segments of automobiles and are likely to make their way in economic automobile segment in the coming years.

Browse Full Report: Automotive Composite Market

Global Automotive Composites Market is anticipated to expand at a CAGR of 8.7% during the forecast period 2016-2024. Further, the market is expected to reach USD 10.6 billion by the end of the forecast period from the market valuation of USD 5.4 billion in 2016.

Asia-Pacific is the largest region for the Automotive Composites Market in 2016 and is expected to dominate the market during the forecast period of 2016-2024. The Asia-pacific Automotive Composites Market valued USD 1.6 billion in 2016 and is estimated to reach USD 3.8 billion by 2024. China is expected to dominate the Automotive Composites Market followed by India due to large automobile production and sales in these countries. Additionally, countries such as China, Japan, Vietnam, and Indonesia have adopted various vehicular emission policies which are in line with the Euro emission control standards.

Automotive Carbon Fiber Composites: Turnkey

Majority of carbon fiber composites consumption by volume of 75% is used by the industrial market including the automotive industry. The rest of the consumption goes to the aerospace market (14%) and the consumer market (11%). Further, the market players are expanding their operations in emerging markets in order to exploit the opportunities. For instance, in 2016, Toray Carbon Magic Co., Ltd., a subsidiary of Toray Industries, Inc., started a new manufacturing plant in Thailand for manufacturing carbon fiber reinforced plastic parts.

report by Goldstein Research contains a detailed overview of the Automotive Composite Marketglobal Automotive Composites Market in terms of market segmentation by product type, by resin type, and by applications.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.

Global Automotive Composites Market Report also provides a competitive outlook of some of the major players which includes profiling of companies such as Mitsubishi, Toray Industries, SGL, Toho Co. Ltd., Teijin, Cytec Solvay, BASF, DU Pont, Kineco Group and DOW Chemical Company among others. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.

Overall, the report represents comprehensive synopsis on the global Automotive Composites Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

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