omposites have found wide acceptance in various industries including automotive because of their light weight and environmental resistance characteristics. On the basis of application areas, the market of automotive composite can be broadly segmented into interior, exterior, chassis & powertrain components and others. Though exterior components is the major application of automotive composite, chassis & powertrain components is an emerging market and the demand for the same is growing at a high pace.
The Asia-Pacific region is the biggest Market Of Automotive Composite, accounting for nearly 43.2% of the total automotive composite demand in 2022. There is a lot of scope in the Asia-Pacific market due to high demand and increasing automotive manufacturing base in the region. With the emerging technological developments and innovations, the global demand for automotive composite may further augment at a higher pace.
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Currently, the penetration of automotive composite is increasing in high end cars and this trend can be seen being extended to mid-end to low end cars as well. Rising demand for fuel efficient vehicles, reduced weight, and parts consolidation are the major factors driving the increased demand in the automotive composite market. The design flexibility offered by composites is further pushing the market of automotive composite in different automotive applications. Technological developments & innovations and expansions are identified as key strategies to expand the automotive composite market.
This study on automotive composite market estimates its global demand and market value for 2022 and projects the expected demand and market value of the same by 2031. As a part of the quantitative analysis, the study segments the global market by types and applications at country level with current market estimation and forecast till 2031. The countries covered in the report are the U.S., Mexico, Canada, Germany, Spain, France, U.K., China, Japan, India, South Korea, Brazil and Argentina. The segmentation by type includes polymer matrix composite, metal matrix composite and ceramic matrix composite. Additionally the polymer matrix composite is further subdivided into glass fiber composite, natural fiber composite, and carbon fiber composite; while on the basis of its application, the segmentation includes exterior, interior, chassis & powertrain components and others.
As a part of qualitative analysis, the research provides report with a comprehensive review of key market drivers, restraints, opportunities, and burning issues in the market.
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It also includes company profiling and competitive strategies adopted by various market players including Toray Industries (Japan), Owens Corning (U.S.), Johns Manville (U.S.), SGL Group (Germany), Cytec Industries Inc. (U.S.), TenCate (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Jushi Group Co. Ltd. (China), and Teijin Limited (Japan). The top automotive manufacturers such as Bayerische Motoren Werke Aktiengesellschaft (Germany), Volkswagen Group (Germany), General Motor Company (U.S.), and Ford Motor Company (U.S.) are also included.
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