Automotive Composites Market Likely To Reach $6.97 Billion By 2025: Grand View Research, Inc.
The global automotive composite market is anticipated to
reach USD 6.97 billion by 2025, according to a new report by Grand View
Research, Inc. The growing demand for light-weight vehicles that enable fuel
saving and adhere to emission norms is projected to influence the market growth
positively.
The polymer matrix composites segment dominated the
market in 2016. These composites are extensively used in the manufacture of
structural and exterior components which help improve the crashworthiness of
vehicles. PMC also offers excellent corrosion resistance, formability, and
reduces mechanical vibrations.
Asia Pacific & Europe are projected to
experience significant demand for composites in the automotive industry. Joint
ventures and long term contracts would be the key to success and durability for
market participants. The rising automotive production in countries such as
China, the U.S., Japan, Germany, India, and South Korea is projected to augment
demand over the coming years.
Full
Research Report On Global Automotive Composites Market By Grand View
Research:
www.grandviewresearch.com/industry-analysis/automotive-composites-market
www.grandviewresearch.com/industry-analysis/automotive-composites-market
Further
key findings from the study suggest:
- The PMC segment occupied the largest share and
is projected to grow at the second highest CAGR over the forecast period
- Glass fiber reinforced polymer composites held
the largest share in the PMC segment, on account of its lightweight
benefits which range from 15% to 25%
- CFRP also occupied a significant portion in the
industry and is gaining preference as compared to metal automotive
component that uses aluminum, steel, and iron. CFRPs possess 30% greater
strength than other polymer composites with half their weight.
- Stringent emission control regulations
established in Europe and North America is projected to enhance fuel
saving by reducing vehicle weight
- The exterior components segment accounted for
38% of the global demand and is expected to grow at the highest CAGR over
the forecast period
- Composites are used in the manufacture of
exterior automotive parts such as panoramic roof modules, rear windshield
glazing, wheel covers, headlight housings & lenses, bumper, fender,
and front grille among others
- Increasing investment and technological
collaborations in the automotive industry is projected to contribute to
the demand over the coming years
- Key players include Cytec Solvay Group, Toray
Industries, Inc., SGL Group - The Carbon Company, and Teijin Limited
- Companies offer a broad range of products and
solutions for application specific use. With growing demand for light
weight parts in the automotive sector, automobile manufacturers are
collaborating with composite fabricators to develop new products catering
to specific client requirement.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global automotive composites market
on the basis of product, application, and region:
Automotive
Composites Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
- Polymer
Matrix Composites
- Glass
Fiber Reinforced Polymer Composite
- Natural
Fiber Reinforced Polymer Composite
- Carbon
Fiber Reinforced Polymer Composite
- Metal
Matrix Composites
- Ceramic
Matrix Composites
Automotive
Composites Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
- Interior
Components
- Exterior
Components
- Structural
& Powertrain Components
- Others
Automotive
Composites Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 -
2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Asia
Pacific
- China
- India
- Japan
- Central
& South America
- Middle
East & Africa
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/industry-analysis/automotive-composites-market
www.grandviewresearch.com/industry-analysis/automotive-composites-market
About Grand
View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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