Automotive Composite Industry Majorly Influenced by Rising Number Of Vehicles, Fuel Efficiency & Light-Weight Automobiles

Global Automotive Composite Market Anticipated to Cross USD 10.6 Billion by 2024.

According to Goldstein Research, global automotive composite market size is expected to reach USD 10.6 billion by 2024, growing at a compounded annual growth rate of 8.7% during the forecast period 2016-2024. As witnessed the increasing environmental laws & vehicle emission norms, the manufacturers are inclining towards innovative composite parts in order to enhance the automobile efficiency. The manufacturers are even approaching the low-cost manufacturing of composite parts of the automobile.

Further, the composite market generated a revenue of USD 31.2 billion in 2016, which has immense growth impact on the global automotive composite market. Global automotive composite market segmentation has been carried out on the basis of product type, resin type, application type, and geography. On the basis of product type, in the fiber composites segment, glass fiber composites accounted for the highest market share of 80%, growing at a CAGR of 6.5% during the forecast period.

The automotive composite industry is largely driven by the Asia Pacific with a market share of 35% in 2016, followed by Europe automotive composite market. Further, Latin America automotive composite market is witnessing high growth opportunities for the manufacturers to establish their units in Brazil & Mexico.

Market Segmentation

On the basis of our in-depth analysis, Global Automotive Composite Market can be segmented as follows:

  • By Product Type
    • Metal Composites
    • Polymer Composites
    • Natural Fiber Composites
    • Glass Fiber Composites
    • Carbon Fiber Composites
    • Ceramic Matrix Composites
  • By Resin Type
    • Thermoplastic Composites
    • Thermoset Composites
  • By Application Type
    • Interior
    • Exterior
    • Chassis & powertrain components
    • Others (Electrical and Electronics, etc.)
  •  By Region
    • North America (US, Canada) {Market Share (%), Market Size (USD Billion, Adoption Rate (%)}
    • Europe (UK, France, Italy, Germany, Spain, Hungary, Sweden, Russia, Poland and Rest of Europe) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • The Middle East and Africa (GCC Countries, North Africa, South Africa and Rest of the Middle East & Africa) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Latin America (Brazil, Mexico and Rest of Latin America) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Asia Pacific (China, Japan, India, Singapore, South Korea, Australia, New Zealand and Rest of Asia-Pacific) {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}
    • Rest of the World {Market Share (%), Market Size (USD Billion), Adoption Rate (%)}

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“Automotive Composite Market Industry Analysis” contains a detailed overview of the global automotive composite market. On the basis of our in-depth analysis, the market can be segmented in terms of market segmentation by product type, resin type, and application type.

Further, for the in-depth analysis, Automotive Composite Market Report encompasses the market growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Mitsubishi, Toray Industries, SGL, Toho Co. Ltd., Teijin, Cytec Solvay, BASF, Delphi, Johns Manville, Nippon Sheet Glass Co. Ltd., General Motor Company, DU Pont, Kineco Group, DOW Chemical Company, Johnson Controls, Inc., etc.

The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services, and industries catered, financial analysis of the company and recent developments. Overall, the report represents the global automotive composite market trends along with a market forecast that will help market consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.

About Goldstein Research

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Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts. Our market research reports provide in-depth analysis of global and regional variations along with competitors’ overview. Our analysts working on automotive industry analysis reports helping various tech-giants, tech start-ups, and entry players to assess the current and upcoming business scenario. We believe in a rigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable for our clients’ needs and business agenda.

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