Automotive Composites Market: Global Industry Analysis and Forecast 2014 - 2020
A composite is made from two or more materials with altered physical or chemical properties. It consists of high performance fiber in a matrix material that provides significantly enhanced properties as compared to individual materials.Composites such as glass fiber, aramid fiber and carbon fiber among others are increasingly used in the automotive industry due to their quality, strength and weight.
A composite is made from two or more materials with altered physical or chemical properties. It consists of high performance fiber in a matrix material that provides significantly enhanced properties as compared to individual materials.Composites such as glass fiber, aramid fiber and carbon fiber among others are increasingly used in the automotive industry due to their quality, strength and weight.
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<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> -<br />
<strong>2020</strong><br />
Persistence <strong>Market</strong> Research<br />
<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong><br />
<strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> - <strong>2020</strong><br />
Persistence <strong>Market</strong> Research 1
<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> -<br />
<strong>2020</strong><br />
Persistence <strong>Market</strong> Research Released New <strong>Market</strong> Report on “<strong>Automotive</strong> <strong>Composites</strong><br />
<strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> - <strong>2020</strong>”.<br />
A composite is made from two or more materials with altered physical or chemical properties. It<br />
consists of high performance fiber in a matrix material that provides significantly enhanced<br />
properties as compared to individual materials.<strong>Composites</strong> such as glass fiber, aramid fiber <strong>and</strong><br />
carbon fiber among others are increasingly used in the automotive industry due to their quality,<br />
strength <strong>and</strong> weight. <strong>Composites</strong> improve fuel efficiency by reducing weight of automobile,<br />
improve safety by minimizing post crash hazard, give an aesthetic look, improved ride quality,<br />
are corrosion resistance <strong>and</strong> provide an aerodynamic design to reduce air drag. The raw carbon<br />
material is converted to carbon fibers using pyrolysis which is a slow process that is combined<br />
with stressing to achieve a high percentage of carbon with fiber tension.Application of<br />
composites in automotive industry includes production of chassis, springs, drive shafts, hoods<br />
<strong>and</strong> electrical components. It is also used in sheet mounding compound fenders <strong>and</strong><br />
thermoplastic tail doors. Engine <strong>and</strong> transmission applications are rare.<br />
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There are three major factors which are expected drive the growth of the automotive composite<br />
market. There is a growing dem<strong>and</strong> for fuel efficient vehicles to comply with environmental<br />
regulations in the EU <strong>and</strong> US. <strong>Composites</strong> reduce the vehicle weight by almost 60% which<br />
improves the fuel economy of the vehicle. Secondly there is a growing dem<strong>and</strong> for electric <strong>and</strong><br />
hybrid cars which requires extensive use of composites to decrease the overall weight of the<br />
cars. Thirdly the introduction of new car models which will be constructed using composite<br />
materials will also contribute to the growth of automotive composite market.On the other h<strong>and</strong>,<br />
high cost of automotive composites, difficulty in repairing <strong>and</strong> recycling composites <strong>and</strong> reliance<br />
of automotive sector on the steel industry for supply of car body <strong>and</strong> engine hampers the growth<br />
of composites. <strong>Composites</strong> have been mainly developed for aerospace industries where cost is<br />
not a major factor unlike the automobile industry where affordability is a major issue. The<br />
technology to process composites such as carbon fibers is costly <strong>and</strong> time consuming.<br />
Reduction in cost of automotive composites through economies of scale, continued dem<strong>and</strong> for<br />
composites in premium segment <strong>and</strong> emerging economies can help to overcome the restraints.<br />
The Asia Pacific region will be a major driving force for automotive composite market apart from<br />
the Americas <strong>and</strong> Europe. The BRIC (Brazil, Russia, India, China) market for composite is<br />
expected to witness a significant growth over the next few years. China is one of the key<br />
markets for composites while India has depicted a high growth rate due to increasing<br />
Persistence <strong>Market</strong> Research 2
<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> -<br />
<strong>2020</strong><br />
awareness, growing penetration level, <strong>and</strong> performance of automotive industries. The growth<br />
rate for the BRIC countries varies across various segments <strong>and</strong> depends on price-versusperformance.<br />
The future market will be highly competitive <strong>and</strong> companies with significant<br />
innovative capabilities shall thrive. The composite market is dominated by aerospace <strong>and</strong><br />
defense industries due to higher consumption of composites followed by the automobile<br />
industry.<br />
Some of the major companies dominating the automotive composites market today are 3A<br />
<strong>Composites</strong>, Creative <strong>Composites</strong>, Cytec, Mitsubishi Rayon, DuPont, Asahi Fibre Glass, Owens<br />
Corning, KCC Corporation, Hexcel, Taiwan Glass <strong>Industry</strong> Corporation <strong>and</strong> Johns Manville<br />
among others. Creative <strong>Composites</strong> has exp<strong>and</strong>ed its composites manufacturing facility in<br />
Northern Irel<strong>and</strong> to meet growing dem<strong>and</strong> of composites in automotive, aerospace <strong>and</strong><br />
construction sectors.<br />
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Key points covered in the report<br />
1) Report segments the market on the basis of types, application, products, technology, etc (as<br />
applicable)<br />
2) The report covers geographic segmentation<br />
North America<br />
Europe<br />
Asia<br />
RoW<br />
3) The report provides the market size <strong>and</strong> forecast for the different segments <strong>and</strong> geographies<br />
for the period of 2010 to <strong>2020</strong><br />
4) The report provides company profiles of some of the leading companies operating in the<br />
market<br />
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<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> -<br />
<strong>2020</strong><br />
5) The report also provides porters five forces analysis of the market.-<br />
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<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> -<br />
<strong>2020</strong><br />
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Key points covered in the report:-<br />
1. Report segments the market on the basis of types, application, products, technology, etc<br />
(as applicable)<br />
2. The report covers geographic segmentation<br />
North America<br />
Europe<br />
Asia<br />
RoW<br />
3. The report provides the market size <strong>and</strong> forecast for the different segments <strong>and</strong><br />
geographies for the period of 2010 to <strong>2020</strong><br />
4. The report provides company profiles of some of the leading companies operating in the<br />
market<br />
5. The report also provides porters five forces analysis of the market.<br />
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<strong>Automotive</strong> <strong>Composites</strong> <strong>Market</strong>: <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong> <strong>and</strong> <strong>Forecast</strong> <strong>2014</strong> -<br />
<strong>2020</strong><br />
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