Press release
Automotive Composites Market 2018 Key Players are ACP, Cytec Solvay, Hexcel Corporation, Johns Manville, Koninklijke Ten Cate, Owens Corning, Protech, SGL, Teijin, Toho Tenax America, Toray Industries, Zoltek Carbon Fiber
Automotive Composites Market
Global Automotive Composites Market is anticipated to exceed 4,000 kilo tons by 2024. Shifting trends towards vehicle weight reduction among the manufacturers will drive the industry demand over the forecast timeline. Increasing preference towards low carbon emissions owing to adoption of these composites will positively impact the industry growth.
Increasing usage of the light weight, cost effective and sturdy components will drive the industry demand. Manufacturers are focusing on reducing the production cost boosting the product penetration. Automotive composites will witness positive penetration in electric and hybrid vehicles offering light weight and long-distance travel. Shifting trends towards usage of hybrid and electric vehicles will further fuel the industry demand.
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Automotive composites market from exterior application will generate revenue over USD 9 billion owing to superior strength and light weight properties. The product is replacing conventional metal components in the vehicle. Moreover, these offer superior damage tolerance enhancing the safety feature of the vehicle. Structural and powertrain application will witness growth around 7% owing to high usage of the carbon and glass fiber. Superior thermal properties required by powertrain and structural application will boost the automotive composites market share.
Top Key Players:-
The key players of global Automotive Composites Market are Cytec Solvay Group, Johns Manville Corporation, Owens Corning Corp., ACP, Hexcel Corporation, Koninklijke Ten Cate and Protech, Teijin Limited, Toray Industries, SGL Group, Zoltek Carbon Fiber and Toho Tenax America.
Regional Segmentations:-
North America automotive composites market share will witness significant gains at over 6% from 2017 to 2024. Rising innovation in vehicle manufacturing with implementation of light weight component will drive the regional growth.
Europe led by Germany, Russia, Italy and France will show significant growth owing to stringent government regulations focusing on reducing the carbon emissions and reducing the vehicle weight.
Asia Pacific automotive composites market will dominate the revenue share accounting around 45% till 2024. Increasing investment focusing on multiplying the production capacity will boost the industry demand. Moreover, continuously growth in vehicle production in the region will further fuel the regional growth.
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Major Points of Table Of Content:-
Automotive Composites Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Suppliers
3.3.2. Manufacturers
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.4. Pricing analysis
3.4.1. By Material
3.4.1.1. By region
3.4.1.1.1. NA
3.4.1.1.2. Europe
3.4.1.1.3. APAC
3.4.1.1.4. LATAM
3.4.1.1.5. MEA
3.5. Cost structure analysis
3.5.1. R&D cost
3.5.2. Manufacturing & equipment cost
3.5.3. Raw material cost
3.5.4. Others
3.6. Technology landscape
3.7. Regulatory landscape
3.7.1. U.S.
3.7.2. Europe
3.7.3. Asia Pacific
3.7.4. LATAM
3.7.5. MEA
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.1.1. North America
3.8.1.2. Europe
3.8.1.3. Asia Pacific
3.8.1.4. LATAM
3.8.1.5. MEA
3.8.2. Industry pitfalls & challenges
3.9. Innovation & sustainability
3.10. Growth potential analysis, 2016
3.11. Porter's analysis
3.12. Competitive landscape, 2016
3.12.1. Company market share
3.12.1.1. Top players analysis
3.12.2. Strategy dashboard
3.12.3. List of manufacturing plants
3.13. PESTEL analysis
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It is imperative to state that automotive components manufactured with composites as a raw material have a longer shelf life that ordinary components and require lesser maintenance and less frequent replacements. These components can also be used as an alternative for metal bearings, owing to their massive endurance strength and eco-friendly features, that enable them to function without lubricants. Taking into account the diversified deployment scope of composites for automotive applications, major players in automotive composites market are looking forward to strengthening their position in this business space via mergers and acquisitions. For instance, in 2018, Sealing Solution unit of Trelleborg A.B. acquired the reputed advanced composite components manufacturer, Automated Dynamics, with an aim to improve its technology portfolio using Trelleborg’s next-generation composites. It is also expected that the technological expertise that buyers would gain through strategic takeovers would leverage their presence in global automotive composites industry.
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