Automotive Composites Market Will Reflect Significant Growth Prospects during 2017–2025

Composites have been used popularly in a range of internal and external automotive components to provide distinct structural and weight advantages. A number of original equipment manufacturers (OEMs) and auto makers’ world over are increasingly using engineering composites, with the primary objective to reduce vehicle weight and cut down on carbon emission. Startups and big automobile manufacturers are actively considering to incorporate carbon fiber composites in trucks and electric vehicles in the coming in the forthcoming years. Apart from this, the adoption of advanced automotive composites has upped the current safety level, reduce the consumption of fuels, and increase the comfort level. In addition, the adoption of automotive composites have helped automotive players to fill in more functional hardware, notably gadgets.

Over the next few years, the automotive composites market will witness a spate of innovations, with powertrain providing significant untapped area for growth. Advances in the composite market will offer OEMs better design freedom and function integration. The demand for design innovations in vehicles among customers in various parts of the world will further unlock interesting prospects in the automotive composites market during the assessment period of 2017–2025.

The report offers insights into the current growth drivers and restraints, emerging trends and notable developments, recent technological advances, and the competitive landscape. The study offers a critical assessment of the existing regulatory framework in various regions shaping the growth trajectory and highlights lucrative avenues in the coming years.

Global Automotive Composites Market: Trends and Opportunities

The intensifying need for reducing the vehicle weight through structural advancements and the pressing demand for improving the fuel economy are key factors driving the demand for automotive composites in various regions. The growing focus on design innovations to enhance the vehicle functionalities is bolstering the demand for engineering composites made of aluminum and fiber. This is partly attributed to a rising consumer demand for stylish and faster cars.

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A number of governmental mandates and legislations on reducing the carbon emission in several developing and developed countries is a notable factor stoking the demand for automotive composites. For instance, mandatory emission reduction targets in the EU calls for reducing the CO2 emissions from passenger cars by 2021. Furthermore, the focus on improving the fuel economy of vehicles by automakers is expected to accentuate the market.

The incorporation of composites in truck beds by a number of large auto makers is accentuating the growth of the market. The vastly rising production of lightweight vehicles in various parts of the world is providing a robust fillip to the demand for advanced automotive composites. The wide demand for polymer-reinforced composites for strikingly improving the crash performance of vehicles is boosting the market. Substantial initiatives by big auto makers in recent years to launch autonomous cars in the next decade bodes well for the automotive market.

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