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Composites in the Global Automotive Market Trends and Forecast

The future of the composites in the global automotive market looks promising with opportunities in interior, exterior, power train system, chassis systems, electrical and electronics and under body system applications. Composites in the global automotive market is expected to reach an estimated $12.7 billion by 2028 with a CAGR of 3.6% from 2022 to 2028. The major growth driver in this market is rise in demand for vehicles that are fuel efficient and have low carbon emissions and corrosion resistivity and low thermal expansion.

Automotive Composite Market Driving Forces

The Automotive Composite Market is experiencing significant growth, driven by the escalating demand for lightweight and fuel-efficient vehicles. Automotive composite materials, renowned for their high strength-to-weight ratio, contribute to reduced vehicle weight, enhancing fuel efficiency and lowering emissions. As regulatory pressures for environmental sustainability intensify, automakers increasingly turn to composite materials for automotive applications to meet stringent standards. This trend underscores the market's growth trajectory, propelled by the imperative for eco-friendly transportation solutions

Composites in the Global Automotive Market by Compound Material, Application, Fiber, and Resin Group

Recent Developments and Strategies of Key Players

Key players in the automotive composite market, such as Toray Industries and Teijin Limited are spearheading innovations in composite materials for automotive applications. These companies are focusing on new product development, leveraging advanced technologies to enhance material performance while optimizing cost-efficiency. Moreover, strategic collaborations and partnerships are integral to their growth strategies, facilitating access to novel technologies and expanding market presence. With a keen eye on growth opportunities, these players continue to invest in research and development to address evolving industry requirements.
 

Emerging Trends in the Composites in the Global Automotive Market

Emerging trends, which have a direct impact on the dynamics of the composites in the global automotive market, includes the carbon fiber-reinforced hybrid automotive lightweight materials, recycling of carbon fiber, and development of stronger and lighter automotive equipment and spare parts.
A total of 93 figures / charts and 80 tables are provided in this 210-page report to help in your business decisions. A sample figure with insights is shown below. 

Composites in the Global Automotive Market by Segments

 

 

Composites in the Global Automotive Market by Segment

The study includes a forecast for the composites in the global automotive by compound material, application, fiber, resin group, and region as follows:

By Compound Material [Value ($M) and Volume (M lbs) Shipment Analysis for 2017 – 2028]:

By Application [Volume (M lbs) Shipment Analysis for 2017 – 2028]:

  • Interior
  • Exterior
  • Power Train System
  • Chassis Systems
  • Electrical and Electronics
  • Under Body System
  • Others

By Fiber [Volume (M lbs) Shipment Analysis for 2017 – 2028]:

By Resin Group [Volume (M lbs) Shipment Analysis for 2017 – 2028]:

By Region [Value ($M) and Volume (M lbs) Shipment Analysis for 2017 – 2028]:

  • North America
  • Europe
  • Asia Pacific & Rest of The World

List of Composites Companies in the Global Automotive Market

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies, composites companies in the global automotive market cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the composites companies in the global automotive market profiled in this report include.

Competitive Landscape and Growth Opportunities

The competitive landscape of the automotive composite market is characterized by intense rivalry among key players striving for market dominance. Alongside product innovation, emphasis is placed on manufacturing efficiency and supply chain optimization to gain a competitive edge. Moreover, the integration of sustainable practices and recyclability features prominently in companies' strategies, aligning with growing environmental concerns. With rising investments in composites for automotive applications, the market presents abundant growth opportunities, particularly in emerging economies where automotive production is on the ascent. In conclusion, the automotive composite market's future holds promise, driven by technological advancements, regulatory imperatives, and shifting consumer preferences towards lightweight, durable, and eco-friendly composites in cars.
 

Composites in the Global Automotive Market Insight

  • Lucintel forecasts that, SFT is expected to be the largest material due to its various properties such as; chemical resistance, re-mold without degradation, and recyclable. Continuous fiber thermoplastic (CFT) composites segment is expected to witness the highest growth in the forecast period.
  • Chassis system expected to witness the highest growth over the forecast period due to the increasing use of composites for its properties like corrosion resistance and lightweight.
  • Europe is expected to remain the largest region by value and volume also due to higher penetration of composites in automotive in this region than other region. Asia Pacific and ROW is expected to witness the highest growth over the forecast period.

Features of Composites in the Global Automotive Market

  • Market Size Estimates: Composites in the global automotive market size estimation in terms of value ($M) and volume (M lbs)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Market size by compound material, application, fiber, resin group, and region.
  • Regional Analysis: Composites in the Global Automotive market breakdown by North America, Europe, and Asia Pacific & Rest of the World.
  • Growth Opportunities: Analysis of growth opportunities in different compound material, application, fiber, resin group, and region for the footwear sole material market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the composites in the global automotive market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the Composites in the Global Automotive Market size?
Answer: The composites in the global automotive market is expected to reach an estimated $12.7 billion by 2028. 
Q2. What is the growth forecast for Composites in the Global Automotive Market?
Answer: The composites in the global automotive market is expected to grow at a CAGR of 3.6% from 2022 to 2028.           
Q3. What are the major drivers influencing the growth of the Composites in the Global Automotive Market?
Answer: The major growth driver in this market is rise in demand for vehicles that are fuel efficient and have low carbon emissions and corrosion resistivity and low thermal expansion.    
Q4. What are the major applications industries for Composites in the Global Automotive Market?
Answer: Others and powertrain system are the major applications for composites in the global automotive market.          
Q5. What are the emerging trends in Composites in the Global Automotive Market?
Answer: Emerging trends, which have a direct impact on the dynamics of the composites in the global automotive market, includes the carbon fiber-reinforced hybrid automotive lightweight materials, recycling of carbon fiber, and development of stronger and lighter automotive equipment and spare parts.
Q6. Who are the key Composites in the Global Automotive Market companies?
Answer: Some of the key composites in the global automotive market companies are as follows:

  • BASF
  • DSM
  • Dupont
  • SABIC
  • Lanxess
  • Solvay
  • Teijin
  • IDI Composites
  • Hanwha Advanced Materials
  • Celanese Corporation
  • JNC Corporation

Q7.Which Composites in the Global Automotive Market material segment will be the largest in future?
Answer: Lucintel forecasts that, SFT is expected to be the largest compound material and continuous fiber thermoplastic (CFT) composites segment is expected to witness the highest growth in the forecast period.
Q8: In Composites in the Global Automotive Market, which region is expected to be the largest in next 5 years?
Answer: Europe is expected to remain the largest region and Asia Pacific and Rest of the World  witness the highest growth over next 5 years.         
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the composites in the global automotive market by compound material (SMC, BMC, GMT, LFT, CFT, and SFT), application (exterior, interior, power train system, chassis system, electrical and electronics, under body system, and others), fiber (glass fiber and carbon fiber), resin group (thermoset resin and thermoplastic resin) and by region (North America, Europe, Asia Pacific & Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?

For any questions related to composites in the global automotive market or related to composites in the global automotive companies, composites in the global automotive market size, composites in the global automotive market share, composites in the global automotive analysis, composites in the automotive, automotive composites, composites in automotive, composites for exterior parts, write Lucintel analyst at email: helpdesk@lucintel.com we will be glad to get back to you soon.
 

Table of Contents

 
1. Executive Summary
 
2.  Market Background and Classification 
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2016 to 2027
3.1: Macroeconomic Trends and Forecasts
3.2: Composites in the Global Automotive Market Trends and Forecast  
3.3: Composites in the Global Automotive Market by Compound Material
3.3.1: SMC
3.3.2: BMC
3.3.3: GMT
3.3.4: LFT
3.3.5: CFT
3.3.6: SFT
3.4: Composites in the Global Automotive Market by Application
3.4.1:  Interior
3.4.2: Exterior
3.4.3: Power Train System
3.4.4: Chassis Systems
3.6.7: Electrical and Electronics
3.4.6: Under Body System
3.4.7: Others
3.5: Composites in the Global Automotive Market by Fiber
3.5.1: Glass Fiber
3.5.2: Carbon Fiber
3.6: Composites in the Global Automotive Market by Resin Group
3.6.1: Thermoset Resin
3.6.2: Thermoplastic Resin
 
4. Market Trends and Forecast Analysis by Region 
4.1: Global Footwear Sole Material Market by Region
4.2: Trends and Forecast for Composites in the North American Automotive Market  
4.2.1: Composites in the North American Automotive Market by Compound Material
4.3: Trends and Forecast for Composites in the European Automotive Market
4.3.1: Composites in the European Automotive Market by Compound Material
4.4: Trends and Forecast for Composites in the APAC & ROW Automotive Market
4.4.1: Composites in the APAC & ROW Automotive Market by Compound Material
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Geographical Reach
5.4: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for Composites in the Global Automotive Market by Compound Material 
6.1.2: Growth Opportunities for Composites in the Global Automotive Market by Region
6.2: Emerging Trends in the Use of Composites in the Global Automotive Market
6.3: Strategic Analysis
6.3.1: New Product Development 
6.3.2: Capacity Expansion of Composites Usage in the Global Automotive Market
6.3.2: Mergers, Acquisitions, and Joint Ventures in the Composites in the Global Automotive Market
 
7. Company Profiles of Leading Players
7.1:  BASF
7.2: DSM
7.3: DuPont
7.4: SABIC
7.5: Lanxess
7.6: Solvay
7.7: Teijin
7.8: IDI Composites
7.9: Hanwha Advanced Materials
7.10: Celanese Corporation
7.11: JNC Corporation
 
.

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Full Report: Composites in the Global Automotive Market: Trends, Opportunities and Competitive Analysis [2023-2028] Full Report $ 4,850
93 figures/charts and 80 tables are provided in this 210 - page report
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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