About Automotive Composite
Automotive Composite has been used in autos and trucks, primarily in interiors and under the hood. Carbon fiber has been used in high-performance vehicles for several years, and now new technology of high-speed manufacturing is allowing carbon fiber to move into thr production vehicles. Sales of automotive composites are directly related to the production of automotive and vehicle parc. Despite the unstable economic conditions in the market in the recent past, on average, the global Automotive Composite industry has witnessed satisfactory growth.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is fragmented by key vendors who are focusing on production technologies, improving efficiency and shelf life. Growth opportunities can be captured by tracking the ongoing process improvement and financial flexibility to invest in optimal strategies Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Toray Industries, Inc. (Japan), SGL Group (Germany), Mitsubishi Chemical Corporation (Japan), Plasan Carbon Composites (United States), Solvay S.A. (Belgium), UFP Technologies, Inc. (United States), Toho Tenax Co., Ltd. (United States), Koninklijke Ten Cate B.V. (Netherlands), Continental Structural Plastics Inc. (United States), Gurit (Switzerland) and Owens Corning (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Automotive Composite market by , Application (Interior, Chassis & Powertrain and Exterior) and Region.
On the basis of geography, the market of Automotive Composite has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Resin, the sub-segment i.e. Thermoplastic will boost the Automotive Composite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Fiber, the sub-segment i.e. Carbon will boost the Automotive Composite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Vehicle , the sub-segment i.e. Electric will boost the Automotive Composite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Manufacturing Process, the sub-segment i.e. Compression Molding will boost the Automotive Composite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Environmentally Natural Fiber Composites in Automotive Applications and development of CFRP leafsprings for heavy commercial vehicles
Market Growth Drivers:
Increasing Automotive Production, Increasing Share of Suvs in the Overall Vehicle Production and Increasing Demand for Lightweight Liftgate over Bulky Metallic Liftgate
Challenges:
Recyclability of Composites
Restraints:
High Production Cost of Composites and Lack of Technological Advancements in the Emerging Economies
Opportunities:
Growing Markets of Passenger Cars, Light Commercial Vehicles, and Medium & Heavy Commercial Vehicles
Market Leaders and their expansionary development strategies
Mitsubishi Chemical Advanced Materials AG (MCAM), a leading global manufacturer of high-performance materials, announced that it has entered into an agreement for the acquisition of c-m-p GmbH (c-m-p) through its German subsidiary Mitsubishi Chemical Advanced Materials GmbH. The transaction is expected to close in early March 2020.
The Toray Group, global leader in innovative technologies and advancements in high-performance materials, showcase its wide range of TORAYCA carbon fiber, Cetex thermoplastics composites and other high performance composite materials when the company exhibits at SAMPE 2022 on May 24-25 in Charlotte, North Carolina, booth L9. Toray feature its product portfolio, the TORAYCA carbon fiber and various applications of thermoset and thermoplastic composite materials in the aerospace, automotive, industrial, and sports and recreation markets.
The quality and inspection of automotive parts, subassemblies and vehicles are impacted by increased use of composite materials. Engineers control quality and consistency through adherence to standards coupled with standardized testing and inspection methods to confirm that compliance, material conformance and design specifications are attained during manufacturing.
Analyst View
The growth of the Europe automotive composites market is mainly due to the rising demand for superior performance materials that result in lightweight, high strength, and reduced CO2 emissions of vehicles.
Key Target Audience
Manufacturers of Automotive Composites, Suppliers of Raw Materials, Distributors and Suppliers of Automotive Composites, End-use Industries and Industry Associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.