Automotive Composites Market To Reach US$ 7,019.7 Million By 2022
Increasing urban population due to rising industrialization, particularly in developing countries such as India and China, is encouraging the establishment of automotive manufacturing facilities in these regions. Increasing automobile production is expected to fuel the overall demand for carbon composites in the near future.
Increasing urban population due to rising industrialization, particularly in developing countries such as India and China, is encouraging the establishment of automotive manufacturing facilities in these regions. Increasing automobile production is expected to fuel the overall demand for carbon composites in the near future.
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Additionally, consumers are more inclined towards purchasing lightweight and fuelefficient<br />
vehicles due to increasing fuel prices over the last decade. This is<br />
influencing automakers to invest in R&D initiatives with regard to lightweight<br />
materials to manufacture exterior as well as interior parts of vehicles. <strong>Composites</strong><br />
with properties such as easy to process, high tensile strength, lightweight, good<br />
corrosion resistance and surface tension are ideal for manufacturing lightweight and<br />
fuel-efficient vehicles.<br />
Region-wise, the report covers North America, Europe, Asia-Pacific, and Rest of the<br />
World. Asia-Pacific is the largest market for automotive composites. Increasing<br />
domestic production of vehicles along with increasing disposable income is driving<br />
growth of the automotive composites market in Asia Pacific. However, one of the<br />
major factors contributing to growth of the automotive composites markets in North<br />
America and Europe is stringent CO2 emission norms in these regions.<br />
A sample of this report is available upon request @<br />
http://www.persistencemarketresearch.com/samples/4368<br />
In this report, the automotive composites market has been segmented on the basis of<br />
composite material (polymer matrix composites, metal composites, and ceramic<br />
matrix composites), manufacturing process (manual, compression, injection and<br />
continuous, and other), composite component (interior components, exterior<br />
components, engine and drivetrain components, and others) by value (<strong>US$</strong> Mn), and<br />
region (North America, Europe, Asia-Pacific, and Rest of the World).<br />
The global automotive composites market revenue increased from <strong>US$</strong> 3,062.7 Mn in<br />
2012 to <strong>US$</strong> 3,593.6 Mn in 2014 at a CAGR of 8.3%. Under regional segment, the<br />
Asia Pacific automotive composites market (the largest market in 2014) revenue<br />
increased from <strong>US$</strong> 1,543.6 Mn in 2012 to <strong>US$</strong> 1,825.5 Mn in 2014 at a CAGR of<br />
8.7%.<br />
The global automotive composites market is highly consolidated, with the top four<br />
players – <strong>To</strong>ray Industries, <strong>To</strong>ho Co. Ltd., Mitsubishi, and SGL – accounting for<br />
between 70 and 75% market share. Other players operating in the global automotive<br />
composites market include Cytec Industries Inc., SAERTEX GmbH & Co. KG,<br />
Koninklijke Ten Cate N.V., Johns Manville, Johnson Controls, Inc., Scott Bader<br />
Company Ltd., Teijin Limited, E.I. du Pont de Nemours and Company, and UFP<br />
Technologies, Inc. The automotive composites market has been segmented on the<br />
basis of the following:<br />
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