Automotive Composites Market insights report future growth revenue analysis and forecast till 2025


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Shibuya Data Count

Sep 23, 2021, 04:16 EST


Shibuya-ku, Tokyo, Japan, Japan, Sep 23, 2021, 04:16 /Comserve / -- The global automotive composites market size is projected to grow from USD 5.4 billion in 2020 to USD 9.3 billion by 2025, at a compound annual growth rate (CAGR) of 11.5% between 2020 and 2025.

The global automotive composites market size is projected to grow from USD 5.4 billion in 2020 to USD 9.3 billion by 2025, at a compound annual growth rate (CAGR) of 11.5% between 2020 and 2025. The demand for lightweight and fuel efficient vehicle as well as emerging trend of electric cars are the major factors driving the growth of automotive composites market while increasing awareness of OEMs towards strict government regulations on emission control is an opportunity for the growth of automotive composites market However, the negative impact of the COVID-19 pandemic on the automotive industry has affected the market growth adversely.

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The Final Report will cover the impact analysis of COVID-19 on this industry: Automotive Composites Market insights report future growth revenue analysis and forecast till 2025\

Carbon fiber composites are projected to register the highest CAGR in terms of both value and volume between 2020 and 2025 while glass fiber accounts for the largest share of the overall market. Owing to its superior attributes such as strength, durability, flexibility, stability, lightweight, and resistance to heat, temperature, and moisture glass fiber is choice of material for automotive composite manufacturer. For instance, in automotive glass fiber is used if different applications such as underbody systems, front end modules, deck lids, bumper beams, engine cover instrument panels, and air ducts, among many other body parts in automotive.

The composites of a car body that are placed on the outer surface of the monocoque are termed as the exterior parts of the car body. The exterior parts include major components such as bumper beam, fender, front end module, door panels, and hood, among others. The use of composites in the automotive industry is an emerging trend as these composites help in achieving high-performance properties such as high stiffness, lightweight, and high strength to weight to ratio. The exterior parts manufactured with the use of composites impart rigidity thereby offers minimum risk against damage in the event of accident. Composites also help reduce the weight of the exterior parts hence enabling weight reduction of the complete car body and make it more fuel efficient. The exterior parts are located on the outer surface of the car body and are more prone to wear and tear owing to exposure to harsh elements and extreme weathers. The use of composites in the exterior parts such as fenders, hoods, bumper beam, deck lid, and others added to durability of cars ensuring long lifecycle and lowering maintenance cost.

Fill This Form and get the Sample Copy of This Report: https://www.sdki.jp/sample-request-110199
The Final Report will cover the impact analysis of COVID-19 on this industry: Automotive Composites Market insights report future growth revenue analysis and forecast till 2025\

Number of OEMs including BMW (Germany), Audi (Germany), Renault (France), Porsche (Germany), Volkswagen (Germany), Fiat Chrysler (U.K.), among others uses composites in their high-end non-electric vehicles. For instance, Porsche manufactured a CFRP assembly carrier for Porsche GT3 Cup II model while BMW and Fiat Chrysler uses carbon fiber composites and glass reinforced polypropylene (PP) composites in the lightweight dashboard carrier and entire chassis of their Alfa Romeo 4C model sports car and in the respectively. German car manufacturer has developed the Rodeo concept, an all-wheel-drive carbon fiber safari vehicle based on the classic Porsche 911 safari rally car. These initiatives taken by OEMs across the globe has been driving the use of automotive composites in non-electric vehicles.

The growth of the automotive composites market in Europe is driven by the presence of established car manufacturers, industrial expansion, and industry 4.0 technology introduced in automotive industry of the region. Europe’s automotive industry is one of the major industries operating in the region and is comparatively higher than any other region. The European Union is amongst the world’s biggest producers of motor vehicles and the sector represents the largest private investor in research & development with approximately investing Euro 57.4 billion annually.The turnover generated of European Union’s auto industry represents 7% of overall GDP. However, stringent regulations imposed by government of Europe such as the European Automotive Manufacturers Association (ACEA) and the European Union Automotive Fuel Economy standard have set limits for carbon emission which has put pressure on automakers. For instance, the European Union Commission (EC) has enforced to increase the EU’s GHG reduction target for 2030- from 40% cut in CO2 emission to cut of 50 or 55%. Therefore, increasing fuel efficiency requirement along with lightweight nature of vehicle has enforced the use of automotive composites in the automotive applications driving the demand for product in the region.

This study has been validated through primary interviews conducted with various industry experts globally. These primary sources have been divided into the following three categories:
• By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%
• By Designation- C Level- 50%, Director Level- 20, and Others- 30%
• By Region- North America- 50%, Europe- 20%, Asia Pacific (APAC) - 15%, Latin America-10%, Middle East & Africa (MEA)-5%

Research Coverage

This report covers the global automotive composites market and forecasts the market size until 2025. It includes the following market segmentation – fiber (glass, carbon, others), resin (thermoset and thermoplastic), manufacturing process (compression molding, injection molding, RTM, others), application (exterior, interior, powertrain, chassis), vehicle type (non-electric, electric) and Region (Europe, North America, APAC, Latin America and Middle Eat & Africa). Porter’s Five Forces Analysis, along with the drivers, restraints, opportunities, and challenges, have been discussed in the report. It also provides company profiles and competitive strategies adopted by the major players in the global automotive composites market.

1 INTRODUCTION 28
1.1 OBJECTIVES OF THE STUDY 28
1.2 MARKET DEFINITION 28
1.2.1 AUTOMOTIVE COMPOSITES MARKET: BY FIBER - INCLUSIONS AND EXCLUSIONS 28
1.2.2 AUTOMOTIVE COMPOSITES MARKET: BY RESIN - INCLUSIONS AND EXCLUSIONS 29
1.2.3 AUTOMOTIVE COMPOSITES MARKET: BY MANUFACTURING PROCESS - INCLUSIONS AND EXCLUSIONS 29
1.2.4 AUTOMOTIVE COMPOSITES MARKET: BY APPLICATION -
INCLUSIONS AND EXCLUSIONS 29
1.2.5 AUTOMOTIVE COMPOSITES MARKET: BY VEHICLE TYPE -
INCLUSIONS AND EXCLUSIONS 30
1.3 MARKET SCOPE 30
FIGURE 1 AUTOMOTIVE COMPOSITES MARKET SEGMENTATION 30
FIGURE 2 REGIONS COVERED 31
1.3.1 YEARS CONSIDERED FOR THE STUDY 31
1.4 CURRENCY 32
1.5 UNIT CONSIDERED 32
1.6 STAKEHOLDERS 32
1.7 SUMMARY OF CHANGES 33

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