Automotive Composites Market
Automotive Composites Market size is valued at US$ 17 Bn in 2017 and expected to grow at a CAGR of 11% in the forecasting period. Increasing usage of lightweight materials with an implementation of cost-effective measures to reduce carbon emission is the key factors driving the automotive composites market size. This product offers superior strength to weight ratio and improves fuel efficiency of the vehicle. Shifting trends towards cost-effective alternatives, sturdy and lightweight components will positively influence the product penetration.
Advancement in the production facilities focusing on decreasing the manufacturing time and capital cost are offering new opportunities to the industry players. Development of electric & hybrid vehicles offering long travel distance owing to reduced weight will further support the market growth. Stringent protocols to significantly reduce carbon emissions are positively influencing implementation of lightweight materials in vehicles. Besides, increasing global vehicle production with focus on improving the vehicle efficiency will fuel the market demand.
Automotive Composites Market
The Automotive Composites market is segmented based on fiber, resin, manufacturing process, application and geography. By fiber of the Automotive Composites market is segmented into Glass, Carbon, and Natural. Under this, glass fiber is expected to hold the major market share in the forecast period owing to cost-effective solution compared to carbon fiber. Low manufacturing cost along with strong applications outlook in structural, exterior and powertrain will positively influence the industry demand. By resin, the market is segmented as thermoset and thermoplastic. By manufacturing process, the market is segmented as compression, injection, and resin transfer moulding (RTM). By Application, the market is segmented as interior, exterior, and structural & powertrain.
Geographically, the automotive composites market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America is expected to be largest market for automotive composites during the forecast period. Strong potential outlook in interior, structural and exterior applications will fuel the industry demand as well. Besides, innovations in vehicle manufacturing with implementation of light weight component will further support the market growth. Europe is projected to be the fastest growing market for automotive composites with growth in the Germany, Italy, France and Russia being some of the main regions monitoring growth.
Key player across the automotive composites industry are ACP, Cytec Solvay Group, Hexcel Corporation, Johns Manville Corporation, Koninklijke Ten Cate, and Owens Corning Corp. Automotive composites industry participants are focusing on increasing the manufacturing capacity and implementation of automation in the resin processing. Additionally, decrease in overall price of the product will further support the automotive composites industry demand globally. Automotive Composites Market Scope
Automotive Composites Market, By Fiber
• Glass • Carbon • Natural Automotive Composites Market, By Resin
• Thermoset • Thermoplastic Automotive Composites Market, By Manufacturing Process
• Compression • Injection • Resin Transfer Moulding (RTM) Automotive Composites Market, By Application
• Interior • Exterior • Structural & Powertrain Automotive Composites Market, By Geography
• North America • Europe • Asia-Pacific • Middle East & Africa • Latin America Key Players operating in the Automotive Composites Market :
• ACP • Cytec Solvay Group • Hexcel Corporation • Johns Manville Corporation • Koninklijke Ten Cate • Owens Corning Corp. • Protech • SGL Group • Teijin Limited • Toho Tenax America • Toray Industries • Zoltek Carbon Fiber Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.
About the Author
Maximize Market Research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the current vehicle tracking market outlook. Report encompasses the vehicle tracking market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the vehicle tracking market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain vehicle tracking market positioning of competitors.
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