The report provides an in-depth analysis of the competitive landscape, along with company profiling of key players involved in 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.
Increasing awareness among OEMs regarding stringent government regulations and rising demand for electric vehicles are some key factors driving market revenue growth
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
A lighter vehicle body enables battery reduction while maintaining range in electric vehicles. Lowering the weight of vehicle body and battery pack has a compounding impact on overall vehicle weight reduction by allowing other components including the brake system and driving trains to be downsized.
To know more about the report @https://www.emergenresearch.com/industry-report/automotive-composites-market
The report also discusses the key players involved in the market such as:
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.
Get Free Sample PDF Brochure @https://www.emergenresearch.com/request-sample/831
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)
- Thermoset
- Thermoplastic
- Manufacturing Process Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Injection Molding
- Compression Molding
- Resin Transfer Molding (RTM)
- Others
- Application Outlook (Volume Tons, Revenue, USD Billion; 2018–2028)
- Structural & Powertrain
- Interior
- Exterior
- Others
Regional Outlook: (Revenue, USD Billion; 2018-2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
