Automotive Composites MarketPosted by pallavi on August 30th, 2019 Automotive Composites Market size is valued at US$ 17 Bn in 2017 and expected to grow at a CAGR of 11% in the forecasting period. Increasing usage of lightweight materials with the implementation of cost-effective measures to reduce carbon emission is the key factors driving the automotive composites market size. This product offers superior strength to weight ratio and improves the fuel efficiency of the vehicle. Shifting trends towards cost-effective alternatives, sturdy and lightweight components will positively influence the product penetration. Advancement in production facilities focusing on decreasing the manufacturing time and capital cost are offering new opportunities to the industry players. Development of electric & hybrid vehicles offering long travel distance owing to reduced weight will further support the market growth. Stringent protocols to significantly reduce carbon emissions are positively influencing the implementation of lightweight materials in vehicles. Besides, increasing global vehicle production with the focus on improving the vehicle efficiency will fuel the market demand. This Report Is Submitted By @Maximize Market Research Company Customization of the report: Maximize Market Research provides free personalized of reports as per your demand. This report can be personalized to meet your requirements. Get in touch with us and our sales team will guarantee provide you to get a report that suits your necessities. About Maximize Market Research: Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
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The Automotive Composites market is segmented based on fiber, resin, manufacturing process, application, and geography. By fiber of the Automotive Composites market is segmented into Glass, Carbon, and Natural. Under this, glass fiber is expected to hold the major market share in the forecast period owing to a cost-effective solution compared to carbon fiber. Low manufacturing cost along with strong applications outlook in structural, exterior and powertrain will positively influence the industry demand. By resin, the market is segmented as thermoset and thermoplastic.