Fact.MR’s automotive composites industry analysis reveals that global market was valued at US$ 6.35 Billion in 2021, and is projected to top US$ 20 Billion by 2032, expanding at an impressive CAGR of 11% over the next ten years. Demand for glass fiber composites is projected to surge and reach a valuation of around US$ 11 Billion, with that for carbon composites is set to balloon at 12%.
The offer in this portion accompanies many open doors including fabricating items, appropriation, retail, and showcasing administrations. Broad rounds of essential and far reaching optional exploration have been utilized by the examiners at Fact.MR to show up at different assessments and projections for Demand of Automotive Composites Market both at worldwide and provincial levels.
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Market Players: –
- Toray Industries Inc
- SGL Carbon
- Teijin Limited
- Mitsubishi Chemical Holding Corporation
- Hexcel Corporation
- Solvay SA
- Gurit
- UFP Technologies Ltd.
- Huntsman Corporation
- Hexion
Market Competition
Manufacturers of automotive composites are entering into collaborations and partnerships with OEMs. Automakers are incorporating composites in their product lines in a move to gain a competitive edge over others. A number of established companies are acquiring small players in a move to further consolidate their market position.
Furthermore, several players are focused on developing advanced structural automotive composites to gain a better foothold in the market.
Some of the key developments are
- In October 2020, Teijin Group strategically partnered with AZL Partner New York for their lightweight production technology. This technology is aimed at transforming their business model to closely realize multifunctional and more lightweight next generation vehicles.
- In August 2020, SGL Carbon, along with joint coordinator Consortium, succeeded in improving the thermal insulation properties for the new composite materials by around 120 % and have made commercially available carbon materials.
- In July 2019, Teijin signed a joint agreement with an Australian venture AEV Robotics for co-development of lightweight automotive components and solutions for next generation transportation which will redefine forms of aging transportation.
Key Segments Profiled in Industry Survey
- By Fiber:
- Glass Fiber
- Carbon Fiber
- By Resin:
- Thermoset
- Thermoplastic
- By Manufacturing Process:
- Compression Moulding
- Injection Moulding
- Resin Transfer Moulding (RTM)
- By Application:
- Exterior
- Interior
- Powertrain
- Chassis
- By Vehicle Type:
- Non-electric Vehicles
- Electric Vehicles
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Japan
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
How Fact.MR Assists in Making Strategic Moves?
The data provided in the Automotive Composites Market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.
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