The global automotive composites market size reached USD 5.33 Billion in 2020 and is expected to register a revenue CAGR of 11.2%, during the forecast period, according to latest analysis by Emergen Research. Need for Original Equipment Manufacturers (OEMs) to comply with increasingly stringent government regulations as well as rising demand for Electric Vehicles (EVs) are some key factors driving global automotive composites market revenue growth. Increased usage of natural fibers in automotive applications, which are both cost-effective and environmentally beneficial, is expected to support revenue growth of the market going ahead. The cost per kilo of weight saved in vehicle weight reduction techniques would be higher with EVs. In standard drive periods, conventional vehicles use more energy while accelerating, but can also recover kinetic energy during braking and slowing down. A braking energy recovery system is available in SEAT cars, in which the kinetic energy released during slowing, and also when coasting, is turned into electrical energy by means of a specially designed generator, which is similar to a dynamo
The Global Automotive Composites Market report offers a comprehensive analysis of the Automotive Composites market with regards to the current and emerging trends, regional outlook, competitive landscape, and forecast estimation for revenue and market share. The report is an all-inclusive document providing important details focusing on growth statistics, estimation of revenue shares and growth, market valuation, and also emphasizes the competitive landscape, business opportunities, and strategic alliances and approaches undertaken by the dominant industry players.
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The report aims to provide a determining analysis of the market competition to help the user make a pivotal business analysis. The complete portfolios of the key companies, including their production capacity, revenue share and size, gross margin, sales revenue and margin, growth rate, along with their business strategies and technological developments, have been discussed in the report. The companies operating in the market and profiled in the report include
SGL Carbon SE, Toray Industries, Inc., Mitsubishi Chemical Holdings Corporation, Teijin Limited, Hexcel Corporation, UFP Technologies, Inc., Solvay S.A., Hexion Inc., Huntsman Corporation, and Gurit Holding
Some Key Highlights From the Report
Natural fibers segment revenue is expected to expand at a significantly rapid CAGR during the forecast period because of its environmentally beneficial features. Natural materials including fruits, stalks, and leaves are used to produce these composites. Flax, hemp, kenaf, and jute are examples of natural fibers utilized in composites that are used in the production of automotive components.
Resin Transfer Molding (RTM) segment is expected to register a significantly robust revenue growth rate over the forecast period. RTM is a production method for components made from fiber plastic composites. It involves pouring a reaction resin onto the dry, semi-finished fiber parts, and these parts are consequently immersed by applying pressure within a closed vessel. The method reduces material waste and overall component cycle times by approximately five minutes on average.
Asia Pacific is expected to account for a larger revenue share than other regional markets over the forecast period due to presence of a large number of major market players such as Mitsubishi Chemical Holdings Corporation, Teijin Limited, and Toray Industries, Inc. among others in countries in the region.
The research study also focuses on a comprehensive analysis of market trends, driving factors and constraints affecting the market growth, and opportunities for business development and expansion.
The report further discusses in detail the market segmentation based on types and applications.
Emergen Research has segmented the global automotive composites on the basis of fiber type, product, resin type, manufacturing process, application, and region:
Fiber Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Carbon Fiber Reinforced Plastic (CFRP)
Glass Fiber Reinforced Plastic (GFRP)
Natural Fiber (NF)
Product Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Metal Matrix Composites
Polymer Matrix Composites
Ceramic Matrix Composites
Resin Type Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Manufacturing Process Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Resin Transfer Molding (RTM)
Application Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
Structural & Powertrain
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The research study on the global Automotive Composites market provides a complete detail-oriented assessment of this market and provides an accurate evaluation of market tendencies such as revenue estimations and shares, current market value, future market valuation, and market size over the forecast years. The report focuses on the evaluation of the given market in major regions and the countries included in those regions. The report provides details of the market considering the geographical landscape that includes North America, Latin America, Asia Pacific, Europe, and Middle East & Africa.
Major benefits of the Automotive Composites report:
The report discusses in detail the changing dynamics of the competitive landscape
The report provides detail-oriented futuristic prospects of factors driving the growth of the market and limitations affecting the market growth
The report gives a comprehensive analysis of the changing dynamics of the market owing to the current scenario
The report encompasses a detailed forecast for the years 2021-2028
The report provides valuable insights on key market growth driving trends and monetary competence in the forecast timeline
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The report also provides a detailed analysis of consumption and market value depending on each geographical region. The report aims to provide beneficial information that might help in formulating new business strategies and expansion plans. SWOT analysis is also offered in this report. Research findings and conclusions are offered through detailed graphs, tables, charts, and figures.
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