Automotive Composites Market Size, Growth & Trend Analysis 2019-2024
Category: #business  By Partha Ray  Date: 2019-08-21
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Automotive Composites Market Size, Growth & Trend Analysis 2019-2024

A Global Market Insights, Inc., report projects that the Automotive Composites Market size for Compression application is expected to surpass the $9 billion renumeration mark by 2024. Low cost processing along with reduction in cycle time are the key factors driving the automotive composites market growth. Injection moulding process will witness robust growth owing to superior surface finish produced required for the vehicle interior. Automotive manufacturers are developing automated manufacturing process boosting the mass production of the components. RTM is anticipated to witness growth owing to less processing parts requirement.

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The demand for composite materials is expected to rise several notches higher in the years to come, on the grounds of which various educational research institutes and renowned players of the automotive composites market have been working diligently toward the development of novel composite materials through innovative technology.

Compression moulding is expected to dominate the business share generating over USD 9 billion by 2024. Low cost processing along with reduction in cycle time are the key factors driving the market growth. Injection moulding process will witness robust growth owing to superior surface finish produced required for the vehicle interior. Automotive manufacturers are developing automated manufacturing process boosting the mass production of the components. RTM is anticipated to witness growth owing to less processing parts requirement.

North America automotive composites market share will witness significant gains at over 6% from 2017 to 2024. Rising innovation in vehicle manufacturing with implementation of light weight component will drive the regional growth. Europe led by Germany, Russia, Italy and France will show significant growth owing to stringent government regulations focusing on reducing the carbon emissions and reducing the vehicle weight. Asia Pacific automotive composites market will dominate the revenue share accounting around 45% till 2024. Increasing investment focusing on multiplying the production capacity will boost the industry demand. Moreover, continuously growth in vehicle production in the region will further fuel the regional growth

Thermoset resins dominate the overall industry share and are expected to generate demand of over 2,500 kilo tons by 2024. Ease in manufacturing and processing of the resin with fibers will further boost the automotive composites market Thermoplastic resins are anticipated to witness growth over 6.5% owing to increasing adoption due to superior impact resistance and reforming abilities.

global automotive composites market has gained a remarkable momentum over the recent years. The problem of exponentially increasing carbon dioxide emissions has been recognized as a matter of concern at a global level, in response to which, both the government as well as private entities are striving hard to combat this issue. Citing an instance with the regulatory frame of reference, The European Union (EU) has introduced norms that aim to limit the CO2 emission per vehicle to 95g/km by 2020. Reportedly, as of now, each vehicle in Europe emits approximately 133.3g/km of carbon dioxide.

Cytec Solvay Group, Johns Manville Corporation, Owens Corning Corp., ACP, Hexcel Corporation, and Koninklijke Ten Cate and Protech are among key industry players. Other notable participants include Teijin Limited, Toray Industries, SGL Group, Zoltek Carbon Fiber and Toho Tenax America. Industry participants are focusing on reducing the cycle time with adopting automated resin processing.

Browse key industry insights spread across 350 pages with 443 market data tables & 10 figures & charts from the report, “Automotive Composites Market” in detail along with the table of contents: https://www.gminsights.com/industry-analysis/automotive-composites-market

Natural fibers will witness growth over 7.5% up to 2024 owing to increasing application outlook in vehicle interior and exterior materials. Moreover, the product is used as a preplacement to glass fiber. Moisture degradation along with comparatively low impact resistance may act as challenge to the product penetration.

Major Table of content: -

Chapter 3.     Automotive composites Market Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry ecosystem analysis

3.3.1.  Suppliers

3.3.2.  Manufacturers

3.3.3.  Profit margin analysis

3.3.4.  Distribution channel analysis

3.4. Pricing analysis

3.4.1.  By Material

3.4.1.1.    By region

3.4.1.1.1.      NA

3.4.1.1.2.      Europe

3.4.1.1.3.      APAC

3.4.1.1.4.      LATAM

3.4.1.1.5.      MEA

3.5. Cost structure analysis

3.5.1.  R&D cost

3.5.2.  Manufacturing & equipment cost

3.5.3.  Raw material cost

3.5.4.  Others

3.6. Technology landscape

3.7. Regulatory landscape

3.7.1.  U.S.

3.7.2.  Europe

3.7.3.  Asia Pacific

3.7.4.  LATAM

3.7.5.  MEA

3.8. Industry impact forces

3.8.1.  Growth drivers

3.8.1.1.    North America

3.8.1.2.    Europe

3.8.1.3.    Asia Pacific

3.8.1.4.    LATAM

3.8.1.5.    MEA

3.8.2.  Industry pitfalls & challenges

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/automotive-composites-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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