San Francisco, 5 April 2019: The Report Automotive Composite Market Analysis By Product (Polymer, Metal, Ceramic) By
Application (Interior, Exterior, Structural & Powertrain Components), By
Region, And Segment Forecasts, 2018 - 2025
The global automotive composite market is anticipated to reach USD 6.97 billion by 2025,
according to a new report by Grand View Research, Inc. The growing demand for
light-weight vehicles that enable fuel saving and adhere to emission norms is
projected to influence the market growth positively.
The polymer matrix composites segment
dominated the market in 2016. These composites are extensively used in the manufacture
of structural and exterior components which help improve the crashworthiness of
vehicles. PMC also offers excellent corrosion resistance, formability, and
reduces mechanical vibrations.
Asia Pacific & Europe are projected to
experience significant demand for composites in the automotive industry. Joint
ventures and long term contracts would be the key to success and durability for
market participants. The rising automotive production in countries such as
China, the U.S., Japan, Germany, India, and South Korea is projected to augment
demand over the coming years.
Access Research Report of Automotive
Composites Market @ http://www.grandviewresearch.com/industry-analysis/automotive-composites-market
Further key findings from the report suggest:
· The PMC segment occupied the largest share
and is projected to grow at the second highest CAGR over the forecast period
· Glass fiber reinforced polymer composites
held the largest share in the PMC segment, on account of its lightweight
benefits which range from 15% to 25%
· CFRP also occupied a significant portion in
the industry and is gaining preference as compared to metal automotive
component that uses aluminum, steel, and iron. CFRPs possess 30% greater
strength than other polymer composites with half their weight.
· Stringent emission control regulations
established in Europe and North America is projected to enhance fuel saving by
reducing vehicle weight
· The exterior components segment accounted
for 38% of the global demand and is expected to grow at the highest CAGR over
the forecast period
· Composites are used in the manufacture of
exterior automotive parts such as panoramic roof modules, rear windshield
glazing, wheel covers, headlight housings & lenses, bumper, fender, and
front grille among others
· Increasing investment and technological
collaborations in the automotive industry is projected to contribute to the
demand over the coming years
· Key players include Cytec Solvay Group,
Toray Industries, Inc., SGL Group - The Carbon Company, and Teijin Limited
· Companies offer a broad range of products
and solutions for application specific use. With growing demand for light
weight parts in the automotive sector, automobile manufacturers are
collaborating with composite fabricators to develop new products catering to
specific client requirement.
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has
segmented the global automotive composites market on the basis of product,
application, and region:
Automotive Composites Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Polymer Matrix Composites
o
Glass Fiber Reinforced Polymer
Composite
o
Natural Fiber Reinforced Polymer Composite
o
Carbon Fiber Reinforced Polymer Composite
·
Metal Matrix Composites
·
Ceramic Matrix Composites
Automotive Composites Application Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
Interior Components
·
Exterior Components
·
Structural & Powertrain Components
·
Others
Automotive Composites Regional Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
Access Press Release of
Automotive Composites Market@ https://www.grandviewresearch.com/press-release/global-automotive-composite-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
