A recent report published by Infinium Global Research on
automotive composites market provides in-depth analysis of segments and
sub-segments in the global as well as regional automotive composites market.
The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional automotive composites market over the
short term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of global automotive composites market.
According to the report, the global automotive composites market is projected
to grow at a CAGR of 9.7% over the forecast period of 2019-2025.
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
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 is expanding the demand for automotive composites.
Furthermore, the stabilizing economy and increase in disposable income are
supporting the growth of the automotive composites market. The growing
industrialization and rapid urbanization have increased the income of the
population. However, the high production cost and limited technological
advancements associated with automotive manufacturing are the major restraining
factor for the growth of the automotive composites market. Nevertheless, the
increasing sale of electric vehicles is expected to offer lucrative
opportunities for the key players in the automotive composites market.
In terms of region, Europe held the highest market share,
dominating the global automotive composites market. The dominance of 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.
The 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
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of automotive
composites market. Moreover, the study highlights current market trends and
provides forecast from 2019-2025. We also have highlighted future trends in the
market that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.