Global Automotive Composite Body Panel Market size was valued US$ XX Mn. in 2019 and the total revenue is expected to grow about 13% from 2020 to 2027, reaching nearly US$ XX Mn.
Global Automotive Composite Body Panel Market: Overview
Composite Body panels are made up of carbon, glass, and base matrix materials. These materials are light in weight, so it reduces over all weight of vehicle and are high performance material. This material is widely used in manufacturing of car bumpers and other exterior parts. Also, for Interior purpose this material is used like in dashboard and inner door assembly.
Automakers are trying to make more lightweight vehicle owing to the strict regulation on vehicle emission, this vehicle emission can be reduced by reducing overall weight of vehicle. Europe and North America (specially the United States) are the major regions compelling manufacturers to reduce vehicle weight to meet their norms. These stringent vehicle norms are driving the global market of composite body panel market. Along with that customer also getting aware of pollution control and customers awareness towards reduction of pollution leading customers to demand for less polluting vehicles increasing market for Global Automotive Composite Body Panel Market.
Market Trend in Perimeter Product
Increasing rate of accident due to increased traffic and violation of traffic rules have increased. These cause damage to vehicles, which results in dents. This factor directly impact on the factor of using Composite body panel instead of traditional one.
Easily available finance and EMI facility, as well as the car companies also launching leasing program will drive the composite body panel market.
Increasing demand for lightweight vehicle and passenger vehicle is increasing growth of global automotive composite body panel market.
Vehicle emission norms are getting severe due to this vehicle manufacturers and are reducing vehicle weight and the composite fiber is a good option for that which will provide good strength along with reduction of weight.
Global Automotive Composite Body Panel Market: Carbon Fiber Panel
Carbon Fiber is composite material which is six times lighter in weight than steel and six times stronger. Carbon Fiber are 5-10 micrometer in diameter made-up of carbon atoms. This material offers advantages like high stiffness, lightweight, high chemical resistance, high tensile strength, low thermal expansion, and high tolerance to temperature.
Global Automotive Composite Body Panel Market: Regional Overview
Global Automotive Composite Body Panel market is segmented into Asia Pacific, North America, Europe, South America, and Middle East & Africa. Among these regions, Europe and North American region are the major market for luxurious vehicle and due to high disposable income. Composite body penal have huge market in future. Carbon fiber body panel are expensive and premium vehicle uses it as good choice in replacement of steel. APAC region is also showing good growth due to passenger vehicle sales volume and Composite body penal manufacturing technique is also improving to make it more affordable.
Global Automotive Composite Body Panel Market: Segmentation
The Global Automotive Composite Body Panel Market is segmented by Manufacturing Process (Lay-up Process, Compression Molding Process, Resin Transfer Molding (RTM) Process, Filament Winding Process, Injection Molding Process, Pultrusion Process, Vacuum Infusion, Other Processes), by Material Type (Polymer Matrix Composite (PMC), Carbon Fiber Reinforced Plastic (CFRP), Glass Fiber Reinforced Plastic (GFRP), Natural Fiber Reinforced Plastic (NFRP), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC)), by End User (Passenger Vehicles, Medium Commercial Vehicles, Heavy Duty Commercial Vehicles, Light Duty Commercial Vehicles), and Region (North America, Europe, Middle East & Africa, South America, Asia Pacific).
In Europe regions, countries like Germany, France, Italy, and UK are expected to raise growth rate in the forecasted period. The Asia Pacific has dominance over passenger vehicle market owing to numbers of vehicle production. This leads to market growth of automotive Composite penal market.
The report also helps in understanding Automotive Composite Body Panel Market dynamics, structure by analyzing the market segments and projects the Automotive Composite Body Panel Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Automotive Composite Body Panel Market make the report investor’s guide.
Scope of the Automotive Composite Body Panel Market
Automotive Composite Body Panel Market, by Manufacturing Process
• Lay-up Process
• Compression Molding Process
• Resin Transfer Molding (RTM) Process
• Filament Winding Process
• Injection Molding Process
• Pultrusion Process
• Vacuum Infusion
• Other Processes
Automotive Composite Body Panel Market, by Material Type
• Polymer Matrix Composite (PMC)
o Carbon Fiber Reinforced Plastic (CFRP)
o Glass Fiber Reinforced Plastic (GFRP)
o Natural Fiber Reinforced Plastic (NFRP)
• Metal Matrix Composite (MMC)
• Ceramic Matrix Composite (CMC)
Automotive Composite Body Panel Market, by End User
• Passenger Vehicles
• Medium Commercial Vehicles
• Heavy Duty Commercial Vehicles
• Light Duty Commercial Vehicles
Automotive Composite Body Panel Market, by Region
• Asia Pacific
• North America
• Europe
• South America
• Middle East & Africa
Key players operating in Automotive Composite Body Panel Market
• Abc group, inc.
• Austem company ltd.
• Changshu huiyi mechanical & electrical co., ltd.
• Flex-n-gate corporation
• Gestamp
• Gordon auto body parts co., ltd.
• Hwashim
• Kuante auto parts manufacture co., limited
• Magna international inc.
• Plastic omnium
• Stick industry co., ltd.
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