Automotive Composites Market: Glass Segment Is Expected To Record CAGR Of 6% By 2026
In terms of segmentation by fiber, the global automotive composites market is categorized into glass, carbon, & natural fiber. Of these, the glass segment is poised to hold a dominant position and record a CAGR of nearly 6% through 2026. This can be attributed to high product strength and stiffness over other fibers. Furthermore, myriad benefits displayed by these fibers, including low dielectric constant, high heat resistance, & cost-effective nature are anticipated to augment industry demand in the coming years.
Get sample copy of this research report @ https://www.decresearch.com/request-sample/detail/338
Based on application , the market is classified into powertrain, structural, exterior, and interior segments. Additionally, other applications include lift gate, tail gate, and fenders. Automotive composites application in the structural & powertrains segment accounts for nearly one-third of the business landscape. This is due to the accelerating implementation of carbon and glass fibers in structural components such as body and chassis panels. Introducing lightweight materials for these automotive components will be a major factor driving market dynamics in years ahead.
On the basis of resin, composites are categorized as thermoset and thermoplastics. Manufacturing of these composites is carried out generally through compression injection and resin transfer molding. In 2019, injection manufacturing process held over 15% share of the market is estimated to witness substantial growth through 2026.
Compression injection process is deployed for producing high performance composite parts by injecting molten material into a mold. Injection molding process is widely used to produce composites as it a cost-effective solution for large-scale molding projects. In addition, lesser energy consumption and less floor spacing requirement are the key factors propelling the technology’s adoption.
Growing consumer inclination towards fuel efficient hybrid and electric vehicles will drive global automotive composites market outlook. Automotive composites are light weight structures that are utilized in place of traditional manufacturing materials for several interior, exterior and other auxiliary parts in vehicle in order to reduce overall vehicle weight.
Rising demand for composites material for interior, exterior, structural and powertrain applications may favor product penetration in the coming years. Estimates suggests that global automotive composites market size will cross the USD 5.5 billion mark by 2026.
On the regional front, the Europe automotive composites market is set to exhibit a growth rate of over 7% through 2026. The product witnesses high demand from European countries including the UK, France, Germany, and Spain. Burgeoning automobile industry and government regulations related to greenhouse gas emissions from vehicles are likely to generate considerable growth prospects for the regional automotive composites business landscape.
Key automotive composites industry participants include Owens Corning, Mitsubishi Rayon Co., Ltd., Teijin Ltd., Toray Industries, Johns Manville Corporation, Hexcel Corporation, and Cytec Solvay Group, among others. In order to sustain in the competitive landscape, the companies are focused on various growth strategies including technology advancement, M&A, and geographic expansion.
Get This Report Customized To Your Requirements@ https://www.decresearch.com/roc/338
Some Point from Table of Contents;
Chapter 6 Automotive Composites Market, By Manufacturing Process
6.1 Automotive composites market share by manufacturing process, 2019 & 2026
6.2 Compression
6.2.1 Market estimates and forecast, 2016 – 2026
6.2.2 Market estimates and forecast by region, 2016 – 2026
6.3 Injection
6.3.1 Market estimates and forecast, 2016 – 2026
6.3.2 Market estimates and forecast by region, 2016 – 2026
6.4 RTM Resin
6.4.1 Market estimates and forecast, 2016 – 2026
6.4.2 Market estimates and forecast by region, 2016 – 2026
6.5 Others
6.5.1 Market estimates and forecast, 2016 – 2026
6.5.2 Market estimates and forecast by region, 2016 – 2026
Chapter 7 Automotive Composites Market, By Application
7.1 Automotive composites market share by application, 2019 & 2026
7.2 Interior
7.2.1 Market estimates and forecast, 2017 – 2027
7.2.2 Market estimates and forecast by region, 2017 – 2027
7.3 Exterior
7.3.1 Market estimates and forecast, 2017 – 2027
7.3.2 Market estimates and forecast by region, 2017 – 2027
7.4 Structural
7.4.1 Market estimates and forecast, 2017 – 2027
7.4.2 Market estimates and forecast by region, 2017 – 2027
7.5 Others
7.5.1 Market estimates and forecast, 2017 – 2027
7.5.2 Market estimates and forecast by region, 2017 – 2027
Browse complete Table of Contents (ToC) of this research report @
https://www.decresearch.com/toc/detail/automotive-composites-market