DUBLIN, Dec. 28, 2017 /PRNewswire/ --
The "Automotive Composite Market Analysis by Product (Polymer, Metal, Ceramic) by Application (Interior, Exterior, Structural & Powertrain Components), by Region and Segment Forecasts, 2014 - 2025" report has been added to Research and Markets' offering.
The global automotive composite market is anticipated to reach USD 6.97 billion by 2025. The growing demand for light-weight vehicles that enable fuel saving and adhere to emission norms is projected to influence the market growth positively.
The polymer matrix composites segment dominated the market in 2016. These composites are extensively used in the manufacture of structural and exterior components which help improve the crashworthiness of vehicles. PMC also offers excellent corrosion resistance, formability, and reduces mechanical vibrations.
Asia Pacific & Europe are projected to experience significant demand for composites in the automotive industry. Joint ventures and long term contracts would be the key to success and durability for market participants. The rising automotive production in countries such as China, the U.S., Japan, Germany, India, and South Korea is projected to augment demand over the coming years.
Further key findings from the report suggest:
- The PMC segment occupied the largest share and is projected to grow at the second highest CAGR over the forecast period
- Glass fiber reinforced polymer composites held the largest share in the PMC segment, on account of its lightweight benefits which range from 15% to 25%
- CFRP also occupied a significant portion in the industry and is gaining preference as compared to metal automotive component that uses aluminum, steel, and iron. CFRPs possess 30% greater strength than other polymer composites with half their weight.
- Stringent emission control regulations established in Europe and North America is projected to enhance fuel saving by reducing vehicle weight.
- The exterior components segment accounted for 38% of the global demand and is expected to grow at the highest CAGR over the forecast period.
- Composites are used in the manufacture of exterior automotive parts such as panoramic roof modules, rear windshield glazing, wheel covers, headlight housings & lenses, bumper, fender, and front grille among others.
- Increasing investment and technological collaborations in the automotive industry is projected to contribute to the demand over the coming years.
Companies Mentioned
- Cytec Solvay Group
- Toray Industries, Inc.
- SGL Group - The Carbon Company
- Teijin Limited
- Koninklijke Ten Cate bv
- Owens Corning Corp.
- Johns Manville Corporation
- Jushi Group Co., Ltd.
- DowAksa
- Mitsubishi Rayon Co., Ltd.
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Automotive Composites: Market Variables, Trends, and Scope
Chapter 4 Automotive Composites Market: Product Estimates & Trend Analysis
Chapter 5 Automotive Composites Market: Application Estimates & Trend Analysis
Chapter 6 Automotive Composites Market: Regional Estimates & Trend Analysis
Chapter 7 Competitive Landscape
Chapter 8 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/m56sgt/automotive
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