Automotive Composite Market is Set to Reach USD 10.6 Billion by 2024

According to Goldstein Research, major driver in the global automotive composite market is growing environmental concerns and stringent emission norms. Automobile manufacturers are providing innovative composite parts in their vehicles in order to increase the fuel efficiency by reducing its overall weight. For instance, Dymag a performance alloy wheel manufacturer introduced carbon composite car wheels which are 40% lighter than equivalent ORM aluminium alloy wheels of the same size. Thus, use of automotive composites and rising trend of customization of vehicles majorly drives the growth other markets of automotive industry such as alloy wheel market etc. Goldstein Research analyst forecast the global automotive composite market to expand at a CAGR of 8.7% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 10.6 billion by the end of forecast period.

Moreover, the development of low-cost manufacturing methods for automotive composites is receiving a lot of attention, which is the major that can boost the growth of the automotive composite market. Global automotive composite market Outlook also includes product development, marketing strategy and investment strategies adopted by major market players in order to expand their business across the globe.

Market Segmentation

On the basis of our in-depth analysis, global automotive composite market can be segmented as follows:

By Product Type

• Metal Composites
• Polymer Composites
• Natural Fiber Composites
• Glass Fiber Composites
• Carbon Fiber Composites
• Ceramic Matrix Composites

By Resin Type

• Thermoplastic Composites
• Thermoset Composites

By Application Type

• Interior
• Exterior
• Chassis & power train components
• Others (Electrical and Electronics, etc.)

Based on Geography

• North America (U.S. & Canada) Automotive composite Market {Market Share (%), Market Size(USD Billion)}
• Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Automotive composite Market {Market Share (%), Market Size(USD Billion)}
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden &RoE) Automotive composite Market {Market Share (%), Market Size(USD Billion)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Automotive composite Market {Market Share (%), Market Size(USD Billion)}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Automotive composite Market {Market Share (%), Market Size(USD Billion)}

Automotive Composite Market Report contains detailed overview of the global automotive composite market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by product type, by resin type and by application type.

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Further, for the in-depth analysis, Global Automotive Composite Market 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. This market report also includes competitive outlook of some of the major players profiling of companies such as Mitsubishi, Toray Industries, SGL, Toho Co. Ltd., Teijin, Cytec Solvay, BASF, Delphi, Johns Manville, Nippon Sheet Glass Co. Ltd. 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 the global automotive composite market emerging trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players examining possibilities and other stakeholders to bring into line their market centric approaches according to the ongoing and expected trends in the future.

About Goldstein Research

Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.

Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the industry, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts.

Our industry research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on automotive industry analysis to help various tech-giants, tech start-ups and entry players to assess the current and upcoming business scenario. We believe in the rigorous examination of the current industry scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

With more than 12 years of experience in Market Research Industry, I have scaled up my skills in strategic consulting as well. Currently working as a Director in the Research Department in a well known U.S. based market research & advisory firm.