A composite is a mixture of two or more chemically different & insoluble phases. The structure so formed shows superior properties & structural performance better than the constituents. Composites (Carbon fibers, glass fibers, natural fibers, metal matrix and ceramic matrix) have made a big impact on the entire global market, including the automotive market. Using composite makes the cars lighter and renders greater resistance to heat, external impact and improves fuel efficiency. Almost all the leading car manufacturers are following a trend of replacing metal parts in their high end cars with composite and this trend can be further extended to mid-end and low end cars as well. With extensive research and cost-effective mass production techniques in place, the prices for composites have dropped and this has resulted in a direct increase in their demand for all the application areas including the automotive sector. The global automotive composite market in terms of value is projected to witness a CAGR of 8.50% between 2014 and 2019 to reach a value of $7,142.37 million. The carbon fiber reinforced polymer composite in the type registered a CAGR of 22.03% in terms of value and is witnessing the fastest growth in the overall automotive composite market. The key factors contributing to the growth of this market are constant need of fuel efficient cars, stringent environment regulations, increased demand from electric & hybrid vehicles, and introduction of various new models with broad usage of automotive composite.
Environmental regulations for low CO2 emissions and fuel efficiency in Europe and the U.S. dictate more fuel efficient vehicles from 2015 onwards. Corporate Average Fuel Economy (CAFE) raised the standards in the U.S., requiring automakers to raise the average fuel efficiency of new cars and trucks to 54.5 miles per gallon by 2025, and in the European Union, new CO2 emissions restrictions, which will reduce passenger cars emission limits from 130g of CO2/km today to 95g CO2/km in 2020.
The report analyzes the global automotive composite market trends and forecasts to 2019. The market size estimations have been provided in terms of market size ($Million & Kilo Tons). The report also identifies prominent players and provides analysis for each player in terms of company overview, financials, products & services offered, recent developments, and company strategies.
This study basically aims to estimate the global market of automotive composite for 2014 and to project its demand by 2019. This market research study provides a detailed qualitative and quantitative analysis of the global automotive composite market. We have used various secondary sources such as encyclopedia, directories, industry journals, and databases to identify and collect information useful for this extensive commercial study of the automotive composites market. The primary sources—experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of automotive composite.
Competitive scenarios of the top players in the automotive composite market have been discussed in detail. We have also profiled leading players of this industry with their recent developments and other strategic industry activities. These include key automotive composite manufacturers such as Toray Industries Inc. (Japan), Owens Corning (U.S.), Johns Manville (U.S.), SGL Group (Germany), Cytec Industries Inc. (U.S.), Koninklijke Ten Cate nv (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Jushi Group Co. Ltd. (China), and Teijin Limited (Japan). Scope of the report:
This research report categorizes the global market for automotive composite on the basis of types, applications, and region along with forecasting volume, value, and trends in each of the submarkets.
On the basis of types: The automotive composite market is segmented on the basis of type, such as polymer matrix composite, metal matrix composite, and ceramic matrix composite. The polymer matrix composite is further is divided into glass fiber composite, natural fiber composite, and carbon fiber composite. Additionally, each type and subtype is described in detail in the report with volume and value forecasts for each type and subtype.
On the basis of applications: The automotive composite market is segmented on the basis of industry applications, such as exterior, interior, chassis & powertrain components and others. Each application is further described in detail in the report with volume and value forecasts for each application.
On the basis of geography: Regional level segmentation is done for automotive composite that include North America, Asia-Pacific, Europe, and RoW and further for key countries in each region that include the U.S., Mexico, Canada, Germany, Spain, France, U.K., China, Japan, India, South Korea, Brazil and Argentina.