Automotive Composites Market,Automotive Composites Market Research,Automotive Composites Market Size

Automotive Composites Market size is valued at US$ 17 Bn in 2017 and expected to grow at a CAGR of 11% in the forecasting period. Increasing usage of lightweight materials with the implementation of cost-effective measures to reduce carbon emission is the key factors driving the automotive composites market size.

This product offers superior strength to weight ratio and improves the fuel efficiency of the vehicle. Shifting trends towards cost-effective alternatives, sturdy and lightweight components will positively influence the product penetration. Advancement in production facilities focusing on decreasing the manufacturing time and capital cost are offering new opportunities to the industry players. Development of electric & hybrid vehicles offering long travel distance owing to reduced weight will further support the market growth.

Stringent protocols to significantly reduce carbon emissions are positively influencing the implementation of lightweight materials in vehicles. Besides, increasing global vehicle production with the focus on improving the vehicle efficiency will fuel the market demand. The Automotive Composites market is segmented based on fiber, resin, manufacturing process, application, and geography. By fiber of the Automotive Composites market is segmented into Glass, Carbon, and Natural. Under this, glass fiber is expected to hold the major market share in the forecast period owing to a cost-effective solution compared to carbon fiber.

Low manufacturing cost along with strong applications outlook in structural, exterior and powertrain will positively influence the industry demand. By resin, the market is segmented as thermoset and thermoplastic. By manufacturing process, the market is segmented as compression, injection, and resin transfer molding (RTM). By Application, the market is segmented as the interior, exterior, and structural & powertrain. Geographically, the automotive composites market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to be the largest market for automotive composites during the forecast period. Strong potential outlook in an interior, structural and exterior applications will fuel the industry demand as well.

Besides, innovations in vehicle manufacturing with an implementation of lightweight component will further support the market growth. Europe is projected to be the fastest growing market for automotive composites with growth in Germany, Italy, France, and Russia being some of the main regions monitoring growth. Key player across the automotive composites industry are ACP, Cytec Solvay Group, Hexcel Corporation, Johns Manville Corporation, Koninklijke Ten Cate, and Owens Corning Corp. Automotive composites industry participants are focusing on increasing the manufacturing capacity and implementation of automation in the resin processing. Additionally, the decrease in the overall price of the product will further support the automotive composites industry demand globally. Automotive Composites Market Scope Automotive Composites Market, By Fiber • Glass • Carbon • Natural Automotive Composites Market, By Resin • Thermoset • Thermoplastic Automotive Composites Market, By Manufacturing Process • Compression • Injection • Resin Transfer Moulding (RTM) Automotive Composites Market, By Application • Interior • Exterior • Structural & Powertrain Automotive Composites Market, By Geography • North America • Europe • Asia-Pacific • Middle East & Africa • Latin America