Automotive Composites Market Expected to Expand at a Steady CAGR through 2031

Fact.MR’s automotive composites industry analysis reveals that global market was valued at US$ 9 Bn in 2020, and is projected to top US$ 20 Bn by 2031, expanding at an impressive CAGR of 11% over the next ten years. Demand for glass fiber composites is projected to surge and reach a valuation of around US$ 11 Bn, with that for carbon composites is set to balloon at 12%.

The Market survey of Automotive Composites offers a comprehensive analysis of diverse features, including production capacities analysis of Automotive Composites, demand, product developments, revenue generation, and Size of Automotive Composites Market across the globe.

The Demand analysis of Automotive Composites Market offers a comprehensive analysis of diverse features, demand, product developments, revenue generation, and sales of Automotive Composites Market across the globe.

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Market Segmentation as per Automotive Composites Industry Research

  • By Fiber:

    • Glass Fiber Automotive Composites
    • Carbon Fiber Automotive Composites
  • By Resin:

    • Thermoset Automotive Composites
    • Thermoplastic Automotive Composites
  • By Manufacturing Process:

    • Compression Moulding
    • Injection Moulding
    • Resin Transfer Moulding (RTM)
  • By Application:

    • Exterior Automotive Composites
    • Interior Automotive Composites
    • Powertrain Automotive Composites
    • Chassis Automotive Composites
  • By Vehicle Type:

    • Automotive Composites for Non-electric Vehicles
    • Automotive Composites for Electric Vehicles

A comprehensive estimate of the Automotive Composites market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the Sales of Automotive Composites during the forecast period. Price point comparison by region with the global average price is also considered in the study.

Key stakeholders in Market including industry players, policymakers, and investors in various countries have been continuously realigning their strategies and approaches to implement them in order to tap into new opportunities.

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Some Notable Offerings by Fact.MR Report on Automotive Composites market:

  • We will provide you an analysis of the extent to which this Automotive Composites market research report acquires commercial characteristics along with examples or instances of information that helps you to understand it better.
  • We will also help to identify customary/ standard terms and conditions, as offers, worthiness, warranty, and others.
  • Also, this report will help you to identify any trends to forecast growth rates.
  • The analyzed report will forecast the general tendency for supply and demand.

Some of the Automotive Composites Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides: 

  • Details regarding latest innovations and development in Automotive Composites and how it is gaining customer traction during the forecast period.
  • Analysis about the customer demand of the products and how it is likely to evolve in coming years.
  • Latest regulations enforced by government bodies and local agencies and their impact on Demand of Automotive Composites Market .
  • Insights about adoption of new technologies and its influence on the Automotive Composites market Size.
  • Overview of the impact of COVID-19 on Automotive Composites Market and economic disruptions caused by the pandemic.
  • Evaluates post-pandemic impact on the Sales of Automotive Composites Market during the forecast period.

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After reading the Market insights of Automotive Composites Report, readers can:

  • Understand the drivers, restraints, opportunities and trends affecting the Sales of market.
  • Analyze key regions holding significant share of total Automotive Composites market revenue.
  • Study the growth outlook of Automotive Composites market scenario, including production, consumption, history and forecast.
  • Learn consumption pattern and impact of each end use & supply side analysis of Automotive Composites market.
  • Investigate the recent R&D projects performed by each market player & competitive analysis of Automotive Composites Market Players.

What are the Restraints being Encountered by Automotive Composite Providers?

Automotive composites are very expensive as compared to other alternatives that are already available in the market. Their high manufacturing cost is acting as a major hindrance for the growth of market.

Also, cost of raw materials such as carbon fibres and thermoplastic resins are high, and thus, even after several advantageous properties over traditional materials such as steel and aluminium, their use gets limited to the automotive industry.

High investment associated with the production of composites is majorly restricting the growth of composites in the automotive industry.

How are Stringent Carbon Emission Regulations in Europe Benefiting Manufacturers of Automotive Composites?

The global market for automotive composites in Europe is projected to expand at a CAGR of 12% across forecast period.

Europe’s automotive sector is one of the major industries operating in the region, and is comparatively larger than any other region.  European Union countries together are amongst the world’s biggest producers of motor vehicles, and the sector represents the largest private investor in research & development.

Stringent regulations imposed by authorities across Europe such as the European Automotive Manufacturers Association (ACEA) and the European Union Automotive Fuel Economy standard have set limits for carbon emissions, which has put pressure on automakers.

For instance, the European Union Commission (EC) has enforced to increase the EU’s GHG (greenhouse gases) reduction target for 2030 from 40% cut in CO2 emission to a cut of 50 or 55%.

Increasing fuel efficiency requirement along with lightweight nature of vehicles has enforced the use of automotive composites in automotive applications, driving demand for the product in the region.

How Fact.MR Assists in Making Strategic Moves For Automotive Composites Market Manufacturer?

  • The data provided in the Automotive Composites market report offers comprehensive analysis of important industry trends. Industry players can use this data to strategize their potential business moves and gain remarkable revenues in the upcoming period.
  • The report covers the price trend analysis and value chain analysis along with analysis of diverse offering by market players. The main motive of this report is to assist enterprises to make data-driven decisions and strategize their business moves.

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