Automotive Advanced Polymer Composites Market Scope
The automotive design relies heavily on advanced plastics and polymer composites. To meet ever-changing consumer expectations, nearly every quality of a modern vehicle—from safety and performance to efficiency and aesthetics—relies on plastics and, increasingly, polymer composites. Now, the personal mobility revolution is driving automakers to rapidly develop mobility solutions for an autonomous, connected, electrified, and environmentally responsible automotive future. To accomplish this, automotive designers will require new material solutions. Advanced plastics and polymer composites will remain critical on the road to the future of mobility.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | BASF SE (Germany), Arkema S.A. (France), SGL Carbon SE (Germany), Kemrock Industries and Exports Limited (India), Solvay S.A. (Belgium), Mitsubishi Rayon Co. Ltd. (Japan) and Toray Industries Inc. (Japan) |
CAGR | % |
To entice more end users, market players are focusing on providing Automotive advanced polymer composites with higher quality while adhering to all regulatory standards. In the global automotive advanced polymer composites market, there are numerous large and small-scale service providers. They are also concentrating on the implementation of numerous advanced technologies in the development of better scents. Furthermore, the numerous industry profits have led to the entry of new players, raising the level of rivalry in an already competitive market. The Automotive advanced polymer composites market is currently expanding due to the rapid advancement of biotechnology and AIML. Some of the key players in this market follow strategies, which include new product offerings, product approvals, partnerships and alliances, mergers and acquisitions, and business expansions.
BASF SE (Germany), Arkema S.A. (France), SGL Carbon SE (Germany), Kemrock Industries and Exports Limited (India), Solvay S.A. (Belgium), Mitsubishi Rayon Co. Ltd. (Japan) and Toray Industries Inc. (Japan) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Automotive Advanced Polymer Composites market by Type , by Application (Interior Components, Exterior Components, Structural Components and Powertrain Components) and Region with country level break-up.
On the basis of geography, the market of Automotive Advanced Polymer Composites 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).
region held largest market share in the year 2021.
Market Leaders and their expansionary development strategies
In April 2019, BASF and Toray Advanced Composites sign supply agreement to bring innovative tape technology to the automotive industry
To date, 29 states have passed regulations for self-driving cars9 and the U.S. Department of Transportation’s guidance document, AV 3.0, now outlines voluntary guidance, policy recommendations, and best practices from state and local government agencies in testing and operating autonomous technologies
Influencing Trend:
Rising Demand for Fuel-Efficient Vehicles and Increasing Production of Lightweight Automobile Components
Market Growth Drivers:
Growing EV Market Has Been Driving the Market Growth
Challenges:
High Processing Costs
Restraints:
High Recycling Cost
Opportunities:
High-Performance FRP Composites Can Potentially Outperform both Aluminium and Steel
Key Target Audience
Chemical Manufacturers, Polymer Manufacturers, Automobile manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others