Automotive Composites Market Prophesied to Grow at a Faster Pace by 2023

Automotive Composites Market will expand at an impressive CAGR of 8.9% during the forecast period of 2017 to 2022.Revenue-wise, the analyst of the report has estimated that there will be opportunities worth US$7,019.7 million to be made out of the automotive composites market by the end of 2022

Global Automotive Composites Market: Overview

This report on the global automotive composites market has been developed to serve as a reliable business tool for its targeted audiences such as manufacturers of automotive composites, suppliers and distributors of raw materials, end-users, and industry associations.

Compiled by a group of professional and experienced research analysts, this report provides in-depth assessment of individual market dynamics such as driver or restraint, elaborates some of the latest trends, segments it on the basis of material type, manufacturing process, and composite components to represent the lucrativeness of smaller aspects, evaluates the potential of the market in various regions, and profiles some of the major companies in order to represent the competitive landscape. The report also contains Porter’s five forces analysis, highlighting bargaining power of buyers and suppliers as well as threat of new entrants and substitutes.

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Global Automotive Composites Market: Research Methodology

This research report is a product developed by a combination of experienced market research analysts and is a summation of primary and secondary research, conducted specifically to understand and arrive at trends before using them to forecast the expected revenue of the global automotive composites market.

A major chunk of our research efforts depended on information collected from in-depth interviews and discussions with a number of experts of the industry as well as opinion leaders. On the other hand, the secondary research for the development of this report included study of company websites, press releases, annual reports_bk_01_01_2020, investor presentations, various international and national databases.

The logic behind the secondary research was for the report to provide qualitative and quantitative estimated market size in terms of US$ Mn for each material type, manufacturing process, and composite components. In addition to that, the report provides estimated market size in terms of US$ Mn for various geographic regions for the period 2017 to 2022, considering the macro and micro environmental factors. To evaluate the revenue generated from each product, the report has considered their launch date in the market, customer acceptance, price of the product, volume sales, trends in industry, and adoption rate across all the geographies.

Drivers, Restraints and Challenges:

Drivers:

1. Lightweighting: The automotive industry is moving towards lightweighting to meet fuel efficiency standards and reduce carbon emissions. Composites offer high strength-to-weight ratio, making them a preferred choice for lightweighting applications.
2. Design Flexibility: Composites offer greater design flexibility compared to traditional materials. They can be molded into complex shapes and can be tailored to meet specific performance requirements.

Restraints:

1. High Cost: Composites are still relatively expensive compared to traditional materials like steel and aluminum. This can be a significant barrier to adoption, particularly for small and medium-sized automotive manufacturers.
2. Manufacturing Challenges: Composites manufacturing requires specialized equipment and expertise, which can be a barrier to entry for new players.

Challenges:

1. Technical Challenges: Composites require specialized design and manufacturing techniques, which can be challenging to master. This can result in high development costs and long lead times.

Global Automotive Composites Market: Segmentations

Based on composite materials, the PMR report segments the market for automotive composites into polymer matrix, ceramic matrix, and metal matrix. On the basis of manufacturing process, the market has been bifurcated into injection and continuous process, compression process, and manual process. The market has also been categorized on the basis of composite components, into engine and drivetrain components, exterior, and interior.

Global Automotive Composites Market: Regional Outlook

The report evaluates the potential of the automotive composites market in the regions of North America (The U.S. and Canada), Europe (The U.K., Germany, France, Spain, Italy, and Nordic), Latin America (Brazil, Argentina, and Mexico), Asia Pacific (India, China, Japan, Malaysia, Singapore, Thailand, and Australia), and The rest of the World.

The size of the market and its forecasted valuations for each of these regions as well as the mentioned countries have been given for the period from 2017 to 2022, along with their independent CAGRs for the forecast period from 2017 to 2022, considering 2016 as the base year. The research study also covers the competitive scenario in these regions.

This report covers a thorough analysis of:

• Market segment
• Market dynamics
• Market size
• Supply demand
• Current Trends/Issues/Challenges
• Competition and related companies
• Technology
• Value chain

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Regional analysis includes:

• North America (USA, Canada)
• Latin America (Mexico, Brazil)
• Western Europe (Germany, Italy, France, UK, Spain)
• Eastern Europe (Poland, Russia)
• Asia Pacific (China, India, ASEAN, Australia and New Zealand)
• Japan
• Middle East and Africa (GCC countries, South Africa, North Africa)

Report highlights:

• Detailed overview of the top markets
• Changing market dynamics of the industry
• In-depth market segmentation
• Historical, current and projected market size in terms of volume and value
• Recent industry trends and developments
• competitive landscape
• Strategies of major players and products provided
• Potential and niche segments, areas showing promising growth
• A neutral view of market performance
• Essential information for market participants to maintain and strengthen their market footprint

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