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Automotive Composites Market | Hexcel Corporation, Johns Manville, Owens Corning, Toray Industries, Teijin, ACP, Cytec Solvay, Hexcel Corporation, Johns Manville, Koninklijke Ten Cate, Owens Corning, Protech, SGL, Toho Tenax America, Toray Industries, Zol
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The exponential growth graph of automotive composites industry has proved that the deployment of composites helps increase cost savings in the automotive sector. In the ensuing years, automakers are likely to strive even further to abide by governmental restrictions on emission and consumer demand for decreased fuel consumption, on the grounds of which the automotive composites market will witness improved growth prospects over 2017-2024.
The demand for composite materials is expected to rise several notches higher in the years to come, on the grounds of which various educational research institutes and renowned players of the automotive composites market have been working diligently toward the development of novel composite materials through innovative technology. For instance, the British automotive composites industry player, McLaren Automotive, has recently constructed the McLaren Composites Technology Centre (MCTC) worth GBP 50 million, at Sheffield in UK, wherein the company plans to manufacture lightweight carbon fiber with advanced manufacturing processes.
The key players of global Automotive Composites Market:
1. Cytec Solvay Group
2. Johns Manville Corporation
3. Owens Corning Corp.
4. ACP
5. Hexcel Corporation
6. Koninklijke Ten Cate
7. Protech
8. Teijin Limited
9. Toray Industries
10. SGL Group
11. Zoltek Carbon Fiber
12. Toho Tenax America
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MCTC is also expected to commence the production of carbon fiber tubs for its automotive wings including supercars, sports and racing cars by 2019, further impelling the regional automotive composites market share. The UK government seems to be keenly encouraging education hubs to develop trained composite engineers and scientists in a bid to tackle any future challenges that might arise ahead, with regards to composite materials, that is certain to impel the regional automotive composites industry.
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