Automotive Fiberglass Composites Market to Reach US$20 Billion Revenue by 2031
Composites have been commonly used in a range of internal and external automotive components to provide distinct structural and weight advantages.
ROCKVILLE, MARYLAND, USA, Jan. 22, 2022 /EINPresswire.com/ — Automotive composites industry analysis from Fact.MR reveals the global market was valued at US$9 billion in 2020 and is expected to surpass US$20 billion by 2031, expanding at an impressive CAGR of 11% over the next ten years. Demand for fiberglass composites is expected to rise to a valuation of around US$11 billion, with carbon composites expected to climb 12%.
The Automotive Composites demand market study includes the current market scenario on the global platform along with the development of the Automotive Composites sales market over the forecast period.
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Market Segmentation by Automotive Composites Industry Research
Fiberglass Automotive Composites
Carbon Fiber Automotive Composites
Thermosetting automotive composites
Thermoplastic automotive composites
By manufacturing process:
Resin Transfer Molding (RTM)
Exterior automotive composites
Automotive interior composites
Automotive composites for powertrains
Automotive Composite Chassis
By type of vehicle:
Automotive composites for non-electric vehicles
Automotive composites for electric vehicles
The latest automotive composites industry analysis and survey provides sales insights in over 20 countries, in key categories. Insights and insights into Automotive Composites market drivers, trends, and influencers are also included in the study.
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Key insights from market research
The global automotive composites market is expected to reach a valuation of US$20 billion by 2031.
The major factors driving the sales of automotive composites are growing demand for lightweight automotive materials, favorable emissions control regulations and increasing sales of electric vehicles.
Asia-Pacific dominates the market with a 47% revenue share due to the region’s large automotive industry.
Fiberglass composites account for approximately 75% of the overall automotive composites market share.
The exterior application of automotive composites accounts for 55% in terms of overall market revenue.
This report gives you access to critical data such as:
Automotive Composites Market Demand and Growth Drivers
Factors limiting the growth of the automotive composites market
Current Key Automotive Composites Market Trends
Automotive Composites and Automotive Composites Sales Projection Market Size for the coming years
The report also offers key Automotive Composites market trends and an in-depth analysis of how the projected growth factors will shape the Automotive Composites market dynamics in the coming years of the forecast period.
Moreover, it also gives significant and actionable insights into Automotive Composites Market competitive analysis which expands on the present market scenario and will be lucrative for future Automotive Composites Market demand.
Crucial insights into the Automotive Composites market research report:
Basic overview of automotive composites including market definition, classification and applications.
Examination of each market player based on mergers and acquisitions, R&D projects and product launches.
Adoption trend and supply analysis of automotive composites across various industries.
Important regions and countries providing lucrative opportunities for market players.
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Automotive Composites Market insights will enhance the impact on revenue for businesses in various industries by:
To provide a suitable framework for understanding the attractiveness quotient of various products/solutions/technologies in the automotive composites market
Guide stakeholders to identify key issues related to their consolidation strategies in the Global Automotive Composites Market and propose solutions
Assess the impact of changing regulatory dynamics in regions where companies want to expand their footprint
Provides an understanding of disruptive technology trends to help companies make their transitions smoothly
Helping leading companies recalibrate their strategy before their competitors and peers
Offers an overview of promising synergies for the top players aiming to retain their leading position in the market and supply analysis of the Automotive Composites Market.
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Automotive Composites Consumption Analysis
Start-ups and major automakers are actively considering integrating carbon fiber composites into trucks and electric vehicles in the coming years.
Apart from this, the adoption of advanced automotive composites has raised the current level of safety and reduced fuel consumption. Additionally, the adoption of automotive composites has helped automotive players to equip themselves with more functional hardware, including gadgets.
Over the next few years, the automotive composites market will experience a wave of innovation, with automotive powertrains offering a significant untapped area of growth. Advances in the composites market will provide OEMs with greater design freedom and better integration of functions. The demand for vehicle design innovations among customers from various parts of the world will open up more exciting prospects for market players.
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