Glass Fiber Automotive Composites Emerging Trends, Technology and Growth
The report offers actionable and valuable market insights of Glass Fiber Automotive Composites. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Glass Fiber Automotive Composites Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Glass Fiber Automotive Composites market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Glass Fiber Automotive Composites
This newly published and insightful report sheds light on Market Insights of Glass Fiber Automotive Composites, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Glass Fiber Automotive Composites Market.
As per a new report published by Fact.MR - a market research and competitive intelligence provider, the global automotive composites market was valued at US$ 9 Bn in 2020, and is projected to top US$ 20 Bn by 2031, expanding at an impressive CAGR of 11%. Sales of glass fiber composites are projected to reach a valuation of around US$ 11 Bn, increasing at a CAGR of 11% through 2031.
Fact.MR anticipates significant surge in demand for automotive composites, attributable to factors such as increasing demand for lightweight materials in the automotive industry coupled with favourable emission control regulations and growing demand for electric vehicles.
Composites have been popularly used in a range of internal and external automotive components to provide distinct structural and weight advantages.
Growing focus on design innovations to enhance vehicle functionalities is bolstering demand for automotive composites made from aluminium and fiber. A number of governmental mandates and legislations on reducing carbon emissions in several developing and developed countries is a notable factor nudging the demand for automotive composites.
Over the next few years, this space is expected to witness a surge in innovations, providing significant opportunities for growth market growth.
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Key Takeaways from Market Study
The global market for automotive composites is projected to top a valuation of US$ 20 Bn by 2031.
Key factors driving sales of automotive composites are rising demand for lightweight materials in automotive, favourable emission control regulations, and surging sales of electric vehicles.
Asia Pacific dominates the market with a revenue share of 47% on account of the region having a large automotive industry.
Glass fiber composites account for around 75% of the overall market share for automotive composites.
Exterior application of automotive composite accounts for 55% in terms of revenue of the overall market.
“Increasing need for lightweight materials to be used in the automotive industry surging demand for automotive composites,” says a Fact.MR analyst.
Manufacturers of automotive composites are entering into collaborations and partnership with OEMs (original equipment manufacturers). Automakers are incorporating composites in their product lines in a move to gain a competitive edge over others. A number of established companies are acquiring small players to further consolidate their market share.
New and upcoming companies will be benefitted by investing in developing advanced structural automotive composites to gain a better foothold in the market. Also, collaborations and partnership with established OEMs will prove to be beneficial in the long run.
Market Segmentation as per Automotive Composites Industry Research
Glass Fiber Automotive Composites
Carbon Fiber Automotive Composites
Thermoset Automotive Composites
Thermoplastic Automotive Composites
By Manufacturing Process:
Resin Transfer Moulding (RTM)
Exterior Automotive Composites
Interior Automotive Composites
Powertrain Automotive Composites
Chassis Automotive Composites
By Vehicle Type:
Automotive Composites for Non-electric Vehicles
Automotive Composites for Electric Vehicles
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Key Question answered in the survey of Glass Fiber Automotive Composites market report:
Sales and Demand of Glass Fiber Automotive Composites
Growth of Glass Fiber Automotive Composites Market
Market Analysis of Glass Fiber Automotive Composites
Market Insights of Glass Fiber Automotive Composites
Key Drivers Impacting the Glass Fiber Automotive Composites market
Which are the Key drivers impacted by Glass Fiber Automotive Composites market
Restraints Shaping Market Growth
Market Survey of Glass Fiber Automotive Composites
More Valuable Insights on Glass Fiber Automotive Composites Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Glass Fiber Automotive Composites, Sales and Demand of Glass Fiber Automotive Composites, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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