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Automotive Composites Market

Automotive Composites - Global Market Outlook (2019-2027)

4.9 (81 reviews)
Published: March 2021 ID: SMRC20340
4.9 (81 reviews)
Published: March 2021 ID: SMRC20340

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Automotive Composites market is accounted for $4.84 billion in 2019 and is expected to reach $14.31 billion by 2027 growing at a CAGR of 14.5% during the forecast period. Increase in demand for lightweight and fuel-efficient vehicles, increase in demand for environmentally friendly electric vehicles and increasing use of cost-efficient and eco-friendly natural fibers in automotive applications are the major factors driving the growth of the market. However, high processing and manufacturing cost of composites is restraining the market growth.

Automotive composites are lightweight materials that are majorly used in trucks, cars, and other vehicles, primarily under the hood and the interiors. Composites are preferred materials for the weight reduction in automobiles, and hence composites are used for many automotive interior and exterior applications.

Based on the fiber type, the glass segment is anticipated to expand at a rapid pace during the forecast period due to its superior attributes such as strength, durability, flexibility, lightweight, and resistance to heat, temperature, and moisture, which makes it a choice of material for automotive composite manufacturers. By geography, Europe is expected grow at a faster rate during the forecast period as the automotive industry in the region is one of the major industries and is comparatively higher than any other region.  The European Union is amongst the world’s biggest producers of motor vehicles and the sector represents the largest private investor in research & development.

Some of the key players profiled in the Automotive Composites Market include BASF, Advanced Composites Group, DOW Inc., Gurit, Hexcel, Huntsman, Mitsubishi Chemical Corporation, Scott Bader, SGl group, Solvey Group, Teijin Limited, Toray and UFP Technologies.

Fiber Types Covered:
• Aramid
• Basalt
• Carbon
• Glass
• Hybrid
• Natural

Vehicle Types Covered:
• Non-Electric
• Electric

Resin Types Covered:
• Thermoset
• Thermoplastic

Manufacturing Processes Covered:
• Compression Molding
• Injection Molding
• Resin Transfer Molding (RTM)
• Other Manufacturing Processes

Products Covered:
• Ceramic Matrix
• Metal Matrix
• Polymer Matrix

Applications Covered:
• Chassis
• Engine Component
• Exterior
• Interior
• Powertrain Component
• Structural Assembly
• Underbody

End Users Covered:
• Passenger Cars
• Light Commerical Vehicles (LCVs)
• Heavy Commercial Vehicle (HCVs)
• Agricultural

Sales Channels Covered:
• Original Equipment Manufacturer (OEM)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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