openPR Logo
Press release

Automotive Composites Market | Key players operating in the market includes Toray Industries Inc., Huntsman Corporation, Teijin Limited, Mitsubishi Chemical Holding Corporation, Hexcel Corporation

03-22-2023 12:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Automotive Composites Market

Automotive Composites Market

According to a research report "Automotive Composites Market by Fiber Type (Glass, Carbon, Natural), Resin Type (Thermoset, Thermoplastics), Manufacturing Process (Compression, Injection, RTM), Applications (Exterior, Interior), Vehicle Type, and Region - Global Forecast to 2025" published by MarketsandMarkets, the global automotive composites market is expected to grow from USD 7.0 billion in 2019 to USD 9.3 billion by 2025, at a CAGR of 11.5% during the forecast period. Government initiatives emphasizing on reduction of carbon emission and shift towards eletrcic vehicles are expected to drive the growth of the automotive composites market.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/automotive-composite-market-10869121.html

Browse 100 market data Tables and 50 Figures spread through 217 Pages and in-depth TOC on "Automotive Composites Market".

Thermoset Composites dominated the automotive composites market in 2021.

Thermoset composites dominated the overall composites market. Thermoset composites have a larger market share than thermoplastic composites as they are low cost and high performance. Thermoset has high heat resistance and, thus, has a number of applications in the automotive industry. Thermoset composites do not expand under high-heat and moist conditions, making them suitable for highly corrosive and high-temperature applications such as fuel vapor canister brackets, heat shields, radiator brackets, and many other automotive applications.

Glass fiber composites comprises a major share in terms of both value and volume.

Glass fiber reinforced composites, commonly abbreviated as GFRP, is composed of a huge number of tiny glass fibers that are compiled together and held rigidly in place by plastic polymer resin. It is used as reinforcing element in composites. Owing to its properties such as strength, durability, flexibility, stability, lightweight, and resistance to heat, temperature, and moisture, glass fiber is the choice of material for automotive composite manufacturers. Glass fiber is used in different applications such as underbody systems, front end modules, deck lids, bumper beams, engine cover instrument panels, and air ducts in automobiles.

Compression Molding manufacturing process accounted the largest market share in 2021

The compression molding process dominated the global automotive composites market in 2019. The leading players in the automotive composites market preferred the use of compression molding process for the manufacturing of various composite structural parts of cars, predominantly door systems, load-bearing chassis, pillars, and structural interior parts, among others. This process offers consistency in the quality of parts manufactured.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=10869121    

Electric vehicle type is expected to grow with highest CAGR during forecasted years

The automotive composites market for electric vehicles is projected to witness huge demand during the forecast period as there are wide applications of composites in the fabrication of electric car body. The electric vehicles market is at its nascent stage as the production of electric cars is still very less in comparison to non-electric vehicles. Nevertheless, growing concerns about greenhouse gas emissions and shrinking fossil fuel sources have resulted in the increased demand for electric vehicles

Exterior application accounted for the largest market share in the global automotive composites market in 2021

The exterior application dominates the overall automotive composites market. Composite parts of a car body that are placed on the outer surface of the monocoque are termed as the exterior parts of the car body. Exterior parts include bumper, fender, beam, door panels, front end module, and hood. The use of composites in the automotive industry is an emerging trend as these composites help in achieving high-performance properties such as high stiffness, lightweight, and high strength to weight to ratio. The exterior parts manufactured with the use of composites impart rigidity, thereby offering minimum risk against damage in the event of accident. Composites also help reduce the weight of the exterior parts, enabling weight reduction of the complete car body and make it more fuel-efficient. Exterior parts are located on the outer surface of the car body and are more prone to wear and tear owing to exposure to harsh elements and extreme weather. The use of composites in the exterior parts enhance the durability of cars and lowers maintenance cost.

Download PDF Brochure @

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=10869121     

APAC is expected to grow with the highest CAGR during the forecast period.

APAC is expected to grow significantly in the automotive composites market. The use of automotive composites in the region's automotive industry is driven by the high-growth EV market in China and Japan. OEMs in APAC are obligated to follow emission-related mandates and are thus emphasizing producing green vehicles or electric cars to curb emission as well as to conserve non-renewable natural sources such as fossil fuel.

Toray Industries Inc. (Japan), SGL Carbon (Germany), Teijin Limited (Japan), Mitsubishi Chemical Holding Corporation (Japan), Hexcel Corporation (US), Solvay SA (Belgium), Gurit (Switzerland), UFP Technologies Ltd. (US), Huntsman Corporation (US), and Hexion (US), are some of the key players in the automotive composites market. These players have taken different organic and inorganic developmental strategies over the past five years.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/automotive-composite.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/automotive-composite-market.asp

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Automotive Composites Market | Key players operating in the market includes Toray Industries Inc., Huntsman Corporation, Teijin Limited, Mitsubishi Chemical Holding Corporation, Hexcel Corporation here

News-ID: 2984936 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Composite

Composite Rebar Market
The "Composite Rebar Market" is expected to reach USD xx.x billion by 2031, indicating a compound annual growth rate (CAGR) of xx.x percent from 2024 to 2031.  The market was valued at USD xx.x billion In 2023. Growing Demand and Growth Potential in the Global Composite Rebar Market, 2024-2031 Verified Market Research's most recent report, "Composite Rebar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2030," provides an in-depth examination
Construction Composite Market: Building for the Future with Advanced Composite M …
Coherent Market Insights added the statistic report, titled "Construction Composite Market Recent Trends, In-depth Analysis, Size and Forecast 2023-2030". The Construction Composite report includes an overview of the competitive landscape, geographic segmentation, innovation, and future developments, as well as a collection of tables and data. An examination of the competitive landscape reveals information about each vendor, including company profile, total revenue (financials), market potential, global presence, revenue, market share, pricing,
Composite Resin
According to a new market research report published by Global Insight Services "Composite Resin Market" is expected to grow by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market. Download Sample of Report : https://www.globalinsightservices.com/request-sample/GIS20852 Composite resin
Assured Composite® Presents the Best of Composite Decking
Assured Composite® ensures customer happiness by providing high-quality wood plastic composite decking, to consumers across the United Kingdom and beyond. Leicestershire, England - UK | January 25, 2022 -- Customer satisfaction is ensured by Assured Composite®, which provides high-quality wood plastic composite decking, to customers in the United Kingdom and beyond. Because of their forward-thinking staff's attention to efficiency, quality, and customer service, customers can anticipate a hassle-free end-to-end solution at
Global Wind Turbine Composite Materials Market, Global Wind Turbine Composite Ma …
The wind turbine composite material forms an important component of wind turbine for the production of turbine rotor blade. This composite material is made up of matrix & fiber to provide physical strength and distributes loads in composite. The matrix material acts as a binder and maintains spacing of the fiber material, therefore protecting the fiber from environmental & abrasion damage. The composite material manufactured from the fortification of matrix
Global Composite Springs Market 2018-2025 MW Industries, Liteflex LLC, IFC Compo …
Market study on Global Composite Springs Market 2018 Research Report presents a professional and complete analysis of Global Composite Springs Market on the current market situation. Report provides a general overview of the Composite Springs industry 2018 including definitions, classifications, Composite Springs market analysis, a wide range of applications and Composite Springs industry chain structure. The 2018's report on Composite Springs industry offers the global Composite Springs development history,