What is Automotive Composite Materials?
Automotive Composite Materials are being considered for use in the development of lighter, safer, and more fuel-efficient vehicles. A composite is made up of a high-performance fiber (such as carbon or glass) and a matrix material (epoxy polymer) that, when combined, provides superior properties to the individual materials. Carbon-fiber composites are about one-fifth the weight of steel but have the same or better stiffness and strength. They also do not rust or corrode like steel or aluminum, and according to the Oak Ridge National Laboratory, they could significantly increase vehicle fuel economy by reducing vehicle weight by up to 60% (ORNL).
|Unit||Value (USD Million)|
|Key Companies Profiled||Toray Industries, Inc. (Japan), Teijin Ltd. (Japan), SGL Carbon SE (Germany), Johns Manville (United States), Jushi Group Co. Ltd. (China), Koninklijke Ten Cate NV (Netherland), Cytec Industries Inc. (United States), Johnson Controls Inc. (Ireland), Owens Corning (United States) and Mitsubishi Rayon Co. Ltd. (Japan)|
The study covers a detailed analysis segmented by key business segments i.e. by type (PMC, MMC and CMC) , by application (Structural, Powertrain, Interior, Exterior and Others) and major geographies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Automotive Composite Materials market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this Automotive Composite Materials market report suggests strategies that Vendors can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Vendors, some of them are Toray Industries, Inc. (Japan), Teijin Ltd. (Japan), SGL Carbon SE (Germany), Johns Manville (United States), Jushi Group Co. Ltd. (China), Koninklijke Ten Cate NV (Netherland), Cytec Industries Inc. (United States), Johnson Controls Inc. (Ireland), Owens Corning (United States) and Mitsubishi Rayon Co. Ltd. (Japan).
The increased use of composite materials has an impact on the quality and inspection of automotive parts, subassemblies, and vehicles. Engineers maintain quality and consistency by adhering to standards and using standardized testing and inspection methods to ensure that compliance, material conformance, and design specifications are met during the manufacturing process. Rules require the use of materials other than composites, either explicitly or implicitly. They are very clear because they require strict adherence. However, the unintended consequence is that they discourage disruptive research and improvement and unwittingly serve as a barrier to alternative materials and new industries rather than an incentive to them.
The market is fragmented by key vendors focusing on production technologies, efficiency, and shelf life. Growth opportunities can be identified by monitoring ongoing process improvement and having the financial flexibility to invest in optimal strategies. These companies are pursuing a variety of inorganic and organic strategies to strengthen their position in the automotive composites industry. The research includes a detailed competitive analysis of these key players in the automotive composites market, including company profiles, recent developments, and key market strategies.
Automotive Composite Materials Market Dynamics:
- Increasing Automotive Production
- Increasing Share of Suvs in the Overall Vehicle Production
- Increasing Demand for Lightweight Lift gate over Bulky Metallic Lift gate
- Increasing Use of Environmentally Natural Fibre Composites in Automotive Applications
- Development of CFRP Leaf springs For Heavy Commercial Vehicles
- High Materials Cost of Composites
- Lack of Technological Advancements in the Emerging Economies
|Road Blocks / Challenges|
- Lack of Awareness
- Recyclability of Composites
|Gaps & Opportunities|
- Growing Markets of Passenger Cars, Light Commercial Vehicles, and Medium & Heavy Commercial Vehicles
Key highlights of the Global Automotive Composite Materials market Study: CAGR of the market during the forecast period 2021-2027
In-depth information on growth factors that will accelerate the Automotive Composite Materials market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global Automotive Composite Materials market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Vendors
Comprehensive information about factors that will challenge the growth of Automotive Composite Materials Vendors
Transformation and Important Triggers:Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Automotive Composite Materials market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in Automotive Composite Materials market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Automotive Composite Materials Manufacturers, Automotive Composite Materials Suppliers & Distributors, Government Bodies, End-Users and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.