Global Automotive Composites Market is expected to reach $14.31 billion by 2027 growing at a CAGR of 14.5% during 2019 to 2027.
Some of the key players profiled in the Automotive Composites Market include BASF, Advanced Composites Group, DOW Inc., Gurit, Hexcel, Huntsman, Mitsubishi Chemical Corporation, Scott Bader, SGl group, Solvey Group, Teijin Limited, Toray and UFP Technologies.
Increase in demand for lightweight and fuel-efficient vehicles, increase in demand for environmentally friendly electric vehicles and increasing use of cost-efficient and eco-friendly natural fibers in automotive applications are the major factors driving the growth of the market. However, high processing and manufacturing cost of composites is restraining the market growth.
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Automotive composites are lightweight materials that are majorly used in trucks, cars, and other vehicles, primarily under the hood and the interiors. Composites are preferred materials for the weight reduction in automobiles, and hence composites are used for many automotive interior and exterior applications.
Based on the fiber type, the glass segment is anticipated to expand at a rapid pace during the forecast period due to its superior attributes such as strength, durability, flexibility, lightweight, and resistance to heat, temperature, and moisture, which makes it a choice of material for automotive composite manufacturers.
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By geography, Europe is expected grow at a faster rate during the forecast period as the automotive industry in the region is one of the major industries and is comparatively higher than any other region. The European Union is amongst the world’s biggest producers of motor vehicles and the sector represents the largest private investor in research & development.
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Fiber Types Covered: • Aramid • Basalt • Carbon • Glass • Hybrid
Vehicle Types Covered: • Non-Electric
Resin Types Covered: • Thermoset
Manufacturing Processes Covered: • Compression Molding • Injection Molding • Resin Transfer Molding (RTM)
• Other Manufacturing Processes
Products Covered: • Ceramic Matrix • Metal Matrix
• Polymer Matrix
Applications Covered: • Chassis • Engine Component • Exterior • Interior • Powertrain Component • Structural Assembly
End Users Covered: • Passenger Cars • Light Commerical Vehicles (LCVs) • Heavy Commercial Vehicle (HCVs)
Sales Channels Covered: • Original Equipment Manufacturer (OEM)
• North America o US o Canada o Mexico • Europe o Germany o France o Italy o UK o Spain o Rest of Europe • Asia Pacific o Japan o China o India o Australia o New Zealand o South Korea o Rest of Asia Pacific • South America o Argentina o Brazil o Chile o Rest of South America • Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa
o Rest of Middle East & Africa
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