Press release
Automotive Composites Market, By Fiber Type (Carbon Fiber Automotive Composites, Glass Fiber Automotive Composites, Other Fiber Automotive Composites) would rocket up to USD 21.64 billion by 2029
Now-a-days, composite materials have big advantages over steel in the manufacturing of automobiles. Automobile manufacturing companies are continuously launching new materials to improve the safety pf vehicles, noise and vibration, and fuel economy. In the previous decades, cars have become more and more dependent on the steel for their basic materials but now car manufacturers are turning to glass fibre, aluminium, magnesium, and other automotive composite materials which deliver better performance. The glass fiber automotive composite is highest growing fiber segment due to its superior properties such as durability, flexibility, strength, moisture, and many other over the forecast period.Data Bridge Market Research analyses that the automotive composites market is expected to undergo a CAGR of 11.95% during the forecast period. This indicates that the market value, which was USD 8.77 billion in 2021, would rocket up to USD 21.64 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
View Detailed report: https://www.databridgemarketresearch.com/reports/global-automotive-composites-market
Market Definition
Automotive composites are being considered to make safer, lighter, and more fuel-efficient vehicles. An automotive composite is made up of high-performance fiber such as glass or carbon in a matrix material (epoxy polymer) which, if combined, provides enhanced properties compared with the individual materials by themselves.
Opportunities
Surging government initiatives
Surging government initiatives further offer the numerous growth opportunities within the market. For instance, In India, "Make in India" are anticipated to contribute to the growth in the automotive industry, which, in turn, is expected to fuel the demand for automotive composites in upcoming years.
Increasing developments of new methods.
The development of low-cost manufacturing methods and carbon fiber-based methods for automotive composites is receiving much attention. There are several cost effective ways of manufacturing composite automobile parts that also decrease the number of fasteners and joints and will create immense opportunities for the growth of the automotive composites market.
Some of the major players operating in the automotive composites market are:
Quantum Composites (U.S.)
Textum OPCO, LLC (U.S.)
Composites Evolution (U.K.)
DEVOLD AMT (Norway)
Taiyuan Heavy Industry Co.,Ltd (China)
STRUCTeam (U.K.)
RTP Company (U.S.)
G. Angeloni s.r.l (Italy)
Talon Technology Co.,Ltd (U.S.)
Rock West Composites, Inc (U.S.)
COLAN AUSTRALIA, (Australia)
CIT Composite Materials Italy (Italy)
SGL Carbon (Germany)
Gurit (Switzerland)
Hexcel Corporation (U.S.)
Exel Composites (Finland)
General Electric (U.S.)
Solvay (Belgium)
LANXESS (Germany)
Avient Corporation (U.S.)
Aerodyn GmbH (Germany)
C. Cramer, Weberei, GmbH & Co. KG (Germany)
Innegra Technologies, LLC (U.S.)
Teijin Aramid B.V (Japan)
Global Automotive Composites Market Scope
The automotive composites market is segmented on the basis of fiber type, vehicle type, resin type, manufacturing process and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Fiber Type
Carbon Fiber Automotive Composites
Glass Fiber Automotive Composites
Other Fiber Automotive Composites
Vehicle Type
Non-Electric Vehicles
Electric Vehicles
Resin Type
Thermoset Automotive Composites
Thermoplastic Automotive Composites
Manufacturing Process
Compression Molded Automotive Composites
Injection Molded Automotive Composites
Resin Transfer Molded Automotive Composites
Other Processes
Application
Exterior
Interior
Powertrain
Chassis
Explore More Reports:
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https://dbmrresearchreports.blogspot.com/2023/12/polymer-concrete-market-business.html
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About Us:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market.
Contact:
Data Bridge Market Research
Tel: +1-888-387-2818 Email: Sopan.gedam@databridgemarketresearch.com
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