Automotive Composites Market analysis research and trends report for 2020 – 2026
Selbyville,Delaware, United States,Nov 17 2020 (WiredRelease) Global Market Insights, Inc:How will growing electric vehicle demand favor automotive composites market outlook through 2026?
The global automotive composites market is set to witness exponential growth over the coming years primarily due to an upsurge in lightweight vehicle demand. Customers are nowadays preferring the purchase of fuel-efficient vehicles owing to rising fuel prices. This trend has also escalated the demand for electric and hybrid vehicles globally.
Mounting deployment of lightweight composites across various structural, exterior, and interior applications will augment market size over the years. According to the Oak Ridge National Laboratory (ORNL), these composites reduce vehicle weight by 60%, thereby making them more fuel-efficient. Along with these factors, automotive composites are gaining traction owing to features like high corrosion or rust resistance.
According to a research report by Global Market Insights, Inc., the global automotive composites market is likely to surpass a valuation of $5.5 billion through 2026.
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The automotive composites industry, from the fiber segment, is bifurcated into natural fiber, glass and carbon. Glass fiber segment dominated the market in 2019 and is slated to grow at a CAGR of about 6% through the forthcoming years.
This growth can be ascribed to the products relative higher strength and stiffness over other alternatives. Additionally, cost-effective nature, low dielectric constant, and high heat resistance of glass fiber composites would positively impel segment share through 2026.
Automotive composites are manufactured using injection, RTM resin transfer molding, compression, and other procedures. Of these, the injection manufacturing segment is projected to witness proliferating growth since it is considered to be a cost-effective technique for large-scale molding works.
Lower energy usage and the need for lesser floor spacing at production facilities make injection molding a preferred manufacturing technique. In 2019, the segment accounted more than 15% of the market share and is considered to observe similar growth through 2026.
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Robust growth in the automobile sector and increasing electric vehicle demand is poised to drive Europe automotive composites market size over 2026. Stringent regulatory norms to reduce CO2 emissions is likely to drive regional industry expansion.
Countries like Spain, France, the UK, and Germany are expected to lead market share during the forecast timespan. Based on these aforementioned factors, Europe automotive composites industry is projected to observe growth of about 7% through the study period.
Key industry players are adopting business tactics such as acquisitions, collaborations, new product launch, and investment rounds to gain an edge over competitors. Taking February 2020 for instance, NaCa Systems partnered with Hexcel Corporation to manufacture hybrid carbon and wood fiber composite vehicle seats.
The competitive landscape of the global automotive composites market is inclusive of players such as Owens Corning, Mitsubishi Rayon Co., Ltd., Teijin Ltd., Toray Industries, Johns Manville Corporation, Hexcel Corporation, and Cytec Solvay Group among others.
Chapter 1 Methodology Scope
1.1 Market definitions
1.2 Base estimaion working
1.2.1 North America
1.3 Forecast calculations
1.2.1 COVID-19 impact calculations on industry forecast
1.4 Data sources
188.8.131.52 Paid sources
184.108.40.206 Public sources
Chapter 2 Executive Summary
2.1 Automotive composites industry 3600 synopsis, 2016 2026
2.1.1 Business trends
2.1.2 Fiber trends
2.1.3 Resin trends
2.1.4 Manufacturing process trends
2.1.5 Application trends
2.1.6 Regional trends
Chapter 3 Automotive Composites Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 2026
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.3 Profit margin analysis
3.3.4 Distribution channel analysis
3.3.6 Vendor matrix
3.4 Pricing analysis
3.4.1 By region
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
126.96.36.199 Middle East Africa
3.5 Cost structure analysis
3.5.1 RD cost
3.5.2 Manufacturing equipment cost
3.5.3 Raw material cost
3.6 Technology landscape
3.6.1 Carbon fiber reinforced thermoplastic composites (CFRTP) technology
3.6.2 Predictive engineering tools
3.7 COVID-19 impact on automotive composites industry
3.8 Regulatory landscape
188.8.131.52 The National Highway Traffic Safety Administration (NHTSA)
184.108.40.206 California Standards
220.127.116.11 European Commission
18.104.22.168 China Emission Standards
22.214.171.124 South Korea
126.96.36.199 South Africa
3.9 Industry impact forces
3.9.1 Growth drivers by region
188.8.131.52 North America
184.108.40.206.1 Weight reduction trend in vehicles
220.127.116.11.1 Presence of major car manufacturers
18.104.22.168 Asia Pacific
22.214.171.124.1 Increasing penetration of electric and hybrid vehicle
126.96.36.199 Latin America
188.8.131.52.1 Improvement in the automotive industry
184.108.40.206 Middle East Africa
220.127.116.11.1 High demand for luxury cars
3.9.2 Industry pitfall challenges
18.104.22.168 Complex designing process
22.214.171.124 Temporary closure of manufacturing facilities due to COVID-19
3.10 Innovation sustainability
3.11 Growth potential analysis
3.12 Porters analysis
3.13 Competitive landscape, 2019
3.13.1 Company market share
126.96.36.199 Top players analysis
3.13.2 Strategy dashboard
3.13.3 List of manufacturing plants
3.14 PESTLE analysis
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