U.S. automotive composites market
revenue by product, 2014 - 2025 (USD Million)
|
The polymer matrix composites segment dominated the market in 2016. These composites are extensively used in the manufacture of structural and exterior components which help improve the crashworthiness of vehicles. PMC also offers excellent corrosion resistance, formability, and reduces mechanical vibrations.
Asia Pacific & Europe are projected to experience significant demand for composites in the automotive industry. Joint ventures and long term contracts would be the key to success and durability for market participants. The rising automotive production in countries such as China, the U.S., Japan, Germany, India, and South Korea is projected to augment demand over the coming years.
Full Research Report On automotive composite market Analysis: http://www.grandviewresearch.com/industry-analysis/automotive-composites-market
Further key findings from the report suggest:
- The PMC segment occupied the largest share and is
projected to grow at the second highest CAGR over the forecast period
- Glass fiber reinforced polymer composites held the
largest share in the PMC segment, on account of its lightweight benefits
which range from 15% to 25%
- CFRP also occupied a significant portion in the industry
and is gaining preference as compared to metal automotive component that
uses aluminum, steel, and iron. CFRPs possess 30% greater strength than
other polymer composites with half their weight.
- Stringent emission control regulations established in
Europe and North America is projected to enhance fuel saving by reducing
vehicle weight
- The exterior components segment accounted for 38% of
the global demand and is expected to grow at the highest CAGR over the
forecast period
- Composites are used in the manufacture of exterior
automotive parts such as panoramic roof modules, rear windshield glazing,
wheel covers, headlight housings & lenses, bumper, fender, and front
grille among others
- Increasing investment and technological collaborations
in the automotive industry is projected to contribute to the demand over
the coming years
- Key players include Cytec Solvay Group, Toray
Industries, Inc., SGL Group - The Carbon Company, and Teijin Limited
- Companies offer a broad range of products and
solutions for application specific use. With growing demand for light
weight parts in the automotive sector, automobile manufacturers are
collaborating with composite fabricators to develop new products catering
to specific client requirement.
Grand View Research has segmented the global automotive composites market on the basis of product, application, and region:
Automotive Composites Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
- Polymer Matrix Composites
- Glass Fiber Reinforced Polymer Composite
- Natural Fiber Reinforced Polymer Composite
- Carbon Fiber Reinforced Polymer Composite
- Metal Matrix Composites
- Ceramic Matrix Composites
- Interior Components
- Exterior Components
- Structural & Powertrain Components
- Others
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Spain
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Middle East & Africa
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