Automotive Composites Market demand, overview, size, trends and forecast 2021-2031 | olvay, Toray Industries, Inc., SGL Carbon, Teijin Limited

Global Automotive Composites Market report from Global Insight Services is the single authoritative source of intelligence on Automotive Composites Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. 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.

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Automotive composites are materials that are used in the construction of automobiles. These materials are typically made from a combination of fibers and resins, and can be used to create a variety of parts and components. Automotive composites are often used in place of traditional metals, as they are lighter and more durable. In some cases, composites can also be used to improve the aesthetic appeal of a vehicle.

Key Trends

There are several key trends in automotive composites technology. One is the use of composite materials to reduce vehicle weight. This can improve fuel economy and emissions, and also improve performance by reducing the unsprung weight of the vehicle. Another trend is the use of composites to improve the strength and stiffness of vehicle structures. This can improve safety and ride quality, and also allow for the use of lighter-weight components. Finally, composites are being used more and more to improve the aesthetics of vehicles. This can include everything from exterior body panels to interior trim and upholstery.

Key Drivers

The automotive composites market is expected to grow significantly in the coming years owing to the increasing demand for fuel-efficient and lightweight vehicles. The use of composites in the automotive industry helps in reducing the overall weight of the vehicle, which in turn improves fuel efficiency. Moreover, composites offer superior mechanical properties such as high strength, stiffness, and durability, which makes them ideal for use in a variety of automotive applications.

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The increasing demand for electric vehicles is another key driver of the automotive composites market. Electric vehicles require lighter materials in order to achieve better range and performance. Composites are being increasingly used in electric vehicles to reduce weight and improve range.

The stringent emission norms set by various governments across the globe are also driving the automotive composites market. The use of composites helps in reducing emissions as they are lighter than traditional materials such as steel and aluminum.

The automotive composites market is also being driven by the increasing demand for luxury and premium vehicles. Composites are being used in luxury vehicles to provide a unique and premium look.

Restraints & Challenges

The major restraints for the market growth are the high cost of raw materials and the stringent government regulations. The key challenges for the market are the lack of awareness about the benefits of composites and the lack of skilled labor.

Market Segments

The automotive composites market report is bifurcated on the basis of fiber type, resin type, manufacturing process, application, and region. On the basis of type, it is segmented into glass fiber, carbon fiber, and others. Based on resin type, it is analyzed across thermoset and thermoplastic. By manufacturing process, it is categorized into compression molding, injection molding, resin transfer molding (RTM), and others By application, it is divided into exterior, interior, powertrain, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.

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Key Players

The automotive composites market report includes players such as Solvay, Toray Industries, Inc., SGL Carbon, Teijin Limited, Hexcel Corporation, Johns Manville, Gurit, Formaplex, Owens Corning, and TPI Composites.

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