The global automotive composites market is segmented by application type (structural assembly, powertrain component, interior, exterior, and other application types), process type (hand layup / manual process, compression molding, injection molding, and continuous process), material type (thermoset polymer, thermoplastic polymer, carbon fiber, and glass fiber), and Geography (North America, Europe, Asia-Pacific, Rest of the World). With rapid growth in manufacturing capacities in the country, the consumption of carbon fiber composites is expected to increase during the forecast period. Get your queries resolved from an industry expert. Thank you for your Purchase. Moreover, government initiatives such as “Make in India” are expected to contribute to the automotive industry growth in India, which, in turn, is likely to fuel the demand for automotive composites over the coming years. Free report customization (equivalent up to 8 analysts working days) with purchase. Automotive Composites Market size valued at USD 4.68 billion in 2019 and is projected to grow at a CAGR of over 6.7% from 2020 to 2026. Which segment accounted for the largest automotive composite market share? Moreover, Iron ore producers are known to be the least impacted. The Automotive Composites Market is segmented on the lines of its fibre type, resin type, application, manufacturing process and regional. As governments from around the world are implementing stringent emission regulations and even are planning to set even higher emissions standards in the coming years, the importance of lightweight materials will increase. policy. Report scope can be Increasing demand for customized vehicles where composites are utilized to provide desirable specifications and performance is also a major driver for the market. In addition to enabling groundbreaking vehicle designs, composites are also being used to reduce vehicle weight and cut CO2 emissions. Avail customized purchase options to meet your exact research needs: "The quality of research they have done for us has been excellent...". Moreover, advancements in automobile technology, coupled with a supportive infrastructure and government initiatives, are likely to drive the region's automobile market. Presently, composite materials, like thermoplastics and reinforced glass, have drawn the attention of carmakers, making them focus on sourcing better, tensile, and lighter components in the manufacture of automobile units. Composites act as an excellent replacement for metallic under-hood parts. Due to the high cost of potential lightweight solutions and consumers’ limited willingness to pay for weight reduction in automotive, the use of costly lightweight materials has so far been limited. The global automotive composite market size was estimated at USD 20.76 billion in 2019 and is expected to reach USD 22.16 billion in 2020. b. Material-wise, the automotive composites market has been segmented into metal matrix, polymer matrix, and ceramic matrix. A detailed study accumulated to offer Latest insights about acute features of the Automotive Composite Materials market. Click here. A latest research report titled, “Global Carbon Fiber in the Automotive Composites Market Business Report 2021-2025” has been added by Reports Monitor in its database of research reports. The metal matrix composites segment, in terms of revenue, is likely to expand at the highest CAGR of 8.2% over the forecast period. Please fill out the form below for a free PDF report sample & The global automotive composites market is segmented by application type (structural assembly, powertrain component, interior, exterior, and other application types), process type (hand layup / manual process, compression molding, injection molding, and continuous process), material type (thermoset polymer, thermoplastic polymer, carbon fiber, and glass fiber), and Geography (North America, … The increasing need for lightweight interior components in automobiles is likely to drive the use of composites to build these interior parts, thereby benefitting the segment growth. Goods and Services, Financial Mitsubishi Chemical Carbon Fiber and Composites, Inc. UAE Automotive Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), U.S Automotive Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Japan Automotive Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), India Automotive Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), China Automotive Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), UK Automotive Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026). Ebert Composites Corporation. Global Automotive Composites Market: Regional Outlook Regionally, Europe and North America are prominent markets for automotive composites. Nutrition & Wellness, Chemicals Stringent government regulations regarding fuel efficiency coupled with rising high end and luxury car sales will drive the market growth. Our support available to help you 24 hours a day, five days a week. The low recyclability of composites is also a restraint for their penetration in entry-level passenger vehicles. Stringent emission regulations implemented in China, India, and Japan are expected to reduce the weight of the vehicle, thereby enabling fuel savings. Demand for customized cars is on the rise globally, with the younger population showing a keen interest in customizing their cars, as sports and racing cars. The global automotive composite market is led by Asia-pacific followed by Europe and North America, respectively. The markets: Automotive (2021) Composites continue measured growth as the global automotive industry, driven by zero-emissions goals toward increased electrification, seeks to reduce vehicle weight and improve performance. Exterior components led the market and accounted for 38.6% share of the global revenue in 2019 on account of the properties possessed by automotive composites, such as high impact resistance, high tensile strength, high chemical and abrasion resistance, which are mandatory for exterior components according to automotive manufacturing standards. Process innovation, improving R&D, and a well-established automotive sector in the European region are likely to fuel the market growth over the coming years. Market participants such as Teijin Limited and Toray Industries, Inc. are integrated along the value chain from raw material manufacturing to composite fabrication. The market for automotive composite has remained competitive, with the presence of giant players with expertise in advanced manufacturing technologies. Estate and Construction. The Automotive Composites Market is growing at a CAGR of >13% over the next 5 years. The automotive industry has been focusing on vehicle weight for decades as vehicle weight have direct impact on driving dynamics and fuel consumption. Some of the key players operating in the automotive composite market include Solvay; Toray Industries, Inc.; SGL Carbon; Teijin Limited; Hexcel Corporation; Mitsubishi Chemical Carbon Fiber and Composites, Inc.; Johns Manville; Gurit; and Owens Corning. Design an exclusive study to serve your research needs. Asia Pacific holds highest share in 2020. Basis of application type is segmented into Interior, Exterior, Powertrain and Chassis. The European market, in terms of revenue, is expected to register a CAGR of 7.2% over the forecast period. This is anticipated to boost the demand for composites in the automotive industry over the forecast period. A large number of vehicles currently use conventional fuel technologies, such as diesel and petrol, which has led to increasing demand for fuel-efficient vehicles.

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