Our latest research report entitled Automotive Composites Market (by fiber type (carbon fiber, glass fiber, and other fibers), resin type (thermoplastic, and thermoset), application (interior, exterior, powertrain, and chassis), vehicle type (passenger vehicles, and commercial vehicles)) provides complete and deep insights into the market dynamics and growth of Automotive Composites. The latest information on market risks, industry chain structure Automotive Composites cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential Automotive Composites growth factors.
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Growing Demand for Lightweight and Fuel-Efficient Vehicles is Majorly Driving the Automotive Composites Market
Technological advancements in material technology have developed new materials with better physical and chemical properties. Various end-user industries have their specific requirements according to the application. Composite materials have found several applications in the automotive industry including their use in the interior, exterior, powertrain, and chassis. The composite material provides strength to the vehicle along with lightweight.
The automotive composites market is highly competitive and fragmented in nature. A number of local as well as multinational players are competing in the market. The key market players including Koninklijke Ten Cate bv, Hexcel Corporation, Toray Industries, Inc., Solvay S.A. and others are focusing on acquiring supply agreements with other companies, developing new products and acquiring small companies to expand their presence and secure their positions in the automotive composites market.
The growing demand for lightweight and fuel-efficient vehicles is majorly driving the automotive composites market. The rise in fuel prices and growing pollution levels due to emission has led to the development of lightweight and fuel-efficient vehicles. The composite materials make the overall weight of the vehicles to be reduced to the minimum and make the vehicles more fuel-efficient. Moreover, the stringent government regulations to reduce carbon emission are expanding the demand for automotive composites.
Europe Held the Highest Market Share
In terms of region, Europe held the highest market share, dominating the global automotive composites market. The dominance of the Europe region attributed to the increased demand for automotive composites from original equipment manufacturers (OEMs) and rising demand for superior performance materials that result in a lightweight, high strength, and reduced CO2 emissions of vehicles. Moreover, the significant presence of global automakers and component vendors are expected to boost the growth of the automotive composites market in Europe.
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Report on Global Automotive Composites Market Covers Segments such as Fiber Type, Resin Type, Application, and Vehicle Type.
On the basis of fiber type, the sub-markets include carbon fiber, glass fiber, and other fibers. On the basis of resin type, the sub-markets include thermoplastic and thermoset. On the basis of application, the sub-markets include interior, exterior, powertrain, and chassis. On the basis of vehicle type, the sub-markets include passenger vehicles and commercial vehicles.
The report provides profiles of the companies in the market such as Koninklijke Ten Cate bv, Hexcel Corporation, Toray Industries, Inc., Gurit Holding Co., SGL Carbon SE, Solvay S.A., Cytec Industries Incorporated, Melrose Industries PLC, Teijin Ltd., Mitsubishi Chemical Corporation, and other companies.
Browse Detailed TOC, Description, and Companies Mentioned in Report @ https://www.infiniumglobalresearch.com/chemical-material/global-automotive-composites-market
Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Automotive Composites.
- Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.