Press release
Automotive Composites Growing Use in Car Production Creating Lucrative Opportunities for Manufacturers
Analysis of the automotive composites market shows that it was valued at US$ 6.35 billion in 2021 and is expected to reach US$ 20 billion by 2032, growing at a remarkable CAGR of 11% over the following ten years. Glass fibre composite demand is anticipated to soar and reach a worth of approximately US$ 11 billion, while carbon composite demand is anticipated to soar at a rate of 12%.To offer significant structural and weight advantages, composites have been widely used in a variety of interior and external vehicle components. Automotive composites are being used more and more by original equipment manufacturers (OEMs) and automakers worldwide with the primary goal of lowering vehicle weight and reducing carbon emissions.
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How Growing Use of Automotive Composites in Car Manufacturing Creating Lucrative Opportunities?
Automotive composites account for 55% of the market's total value and 50% of its total volume when used for exterior applications.
Since many important body parts of cars, including bumper beams, fenders, front-end modules, door panels, and hoods, are constructed of composite materials, exterior application accounts for a sizable portion of the automotive market.
Additionally, using composites in exterior components like fenders, hoods, bumper beams, deck lids, and other pieces increases a car's durability and ensures a long lifespan with minimal maintenance.
Automotive composites producers are forming alliances and partnerships with OEMs. To obtain a competitive advantage over rivals, automakers are introducing composites into their product lines. In an effort to further strengthen their position on the market, a number of well-known businesses are buying up smaller competitors.
Key Companies Profiled
• Toray Industries Inc
• SGL Carbon
• Teijin Limited
• Mitsubishi Chemical Holding Corporation
• Hexcel Corporation
• Solvay SA
• Gurit
• UFP Technologies Ltd.
• Huntsman Corporation
• Hexion
What insights this research provides to readers?
• Automotive Composites fragmentation on the basis of product type, end use, and region.
• Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
• Collaborations, R&D projects, acquisitions, and product launches of each Automotive Composites player.
• Various regulations imposed by the governments on the consumption of Automotive Composites in detail.
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Based on precise data trends and classification, we provide one of the most thorough and understandable regional breakdowns of the global Automotive Composites market. With regard to a variety of industries, from developing markets to regional markets, our specialists provided insightful analysis. Expect a thorough examination of the most significant economies in the globe, both internationally and globally.
The most recent market research report, which is being distributed to a global audience, offers business forecasts, growth trends in important regions, and development developments. The thorough market research helps customers navigate the data and understand the analysis. A deeper understanding of the industry, thorough predictions, product production, and overall market income can all be aided by geographic market research.
Automotive Composites Market: Segmentation
• Automotive Composites by Fiber:
o Glass Fiber Automotive Composites
o Carbon Fiber Automotive Composites
• Automotive Composites by Resin:
o Thermoset Automotive Composites
o Thermoplastic Automotive Composites
• Automotive Composites by Manufacturing Process:
o Compression Moulding
o Injection Moulding
o Resin Transfer Moulding (RTM)
• Automotive Composites by Application:
o Exterior Automotive Composites
o Interior Automotive Composites
o Powertrain Automotive Composites
o Chassis Automotive Composites
• Automotive Composites by Vehicle Type:
o Automotive Composites for Non-electric Vehicles
o Automotive Composites for Electric Vehicles
• Automotive Composites by Region:
o North America Automotive Composites Market
o Latin America Automotive Composites Market
o Western Europe Automotive Composites Market
o Eastern Europe Automotive Composites Market
o APEJ Automotive Composites Market
o Japan Automotive Composites Market
o Middle East & Africa Automotive Composites Market
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The key perks of this report address the following questions-
• What are the key highlights of our Automotive Composites market research report?
• What are impelling reasons for buying this report?
• What makes this Automotive Composites market report distinct from others?
• What are the key benefits of this Automotive Composites market research report?
• What objectives are met under this market research report?
• What research methodology do we use at FactMR?
• What insights this research provides to readers?
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https://www.newswire.co.kr/newsRead.php?no=927424
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