Automotive Composites will be a $10.6bn market by 2024
August 19th, 2019 – According to Goldstein Research, major driver in the global automotive composite market is growing environmental concerns and stringent emission norms. Automobile manufacturers are providing innovative composite parts in their vehicles in order to increase the fuel efficiency by reducing its overall weight. For instance, Dymag a performance alloy wheel manufacturer introduced carbon composite car wheels which are 40% lighter than equivalent ORM aluminium alloy wheels of the same size. Goldstein Research analyst forecast the global automotive composite market to expand at a CAGR of 8.7% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 10.6 billion by the end of forecast period.
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Market Segmentation
On the basis of our in-depth analysis, global automotive composite market can be segmented as follows:
By Product Type
• Metal Composites
• Polymer Composites
• Natural Fiber Composites
• Glass Fiber Composites
• Carbon Fiber Composites
• Ceramic Matrix Composites
By Resin Type
• Thermoplastic Composites
• Thermoset Composites
By Application Type
• Interior
• Exterior
• Chassis & power train components
• Others (Electrical and Electronics, etc.)
Based on Geography
• North America (U.S. & Canada) Automotive composite Market {Market Share (%), Market Size(USD Billion)}
• Latin America (Brazil, Mexico, Argentina & Rest of Latin America) Automotive composite Market {Market Share (%), Market
Size(USD Billion)}
• Europe (The U.K., Germany, France, Italy, Spain, Poland, Sweden &RoE) Automotive composite Market {Market Share (%),
Market Size(USD Billion)}
• Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Rest of Asia) Automotive composite
Market {Market Share (%), Market Size(USD Billion)}
• Middle East & Africa (GCC, South Africa, North Africa, RoMEA) Automotive composite Market {Market Share (%), Market
Size(USD Billion)}
Global Automotive Composite report by Goldstein Research contains detailed overview of the global automotive composite market. Further, for the in-depth analysis, Global Automotive Composite Market Report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Mitsubishi, Toray Industries, SGL, Toho Co. Ltd., Teijin, Cytec Solvay, BASF, Delphi, Johns Manville, Nippon Sheet Glass Co. Ltd. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the global automotive composite market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players examining possibilities and other stakeholders to bring into line their market centric approaches according to the ongoing and expected trends in the future.
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Key queries countered in this global automotive composite market report• What is the global automotive composite market size by 2024 and what would be the expected growth rate of sales?
• What are the automotive composite market trends?
• What are the dynamics which are driving this market?
• What are the major barriers to automotive composite market growth?
• Who are the prominent vendors in this market space?
• What are the market prospects for the current and entry level players?
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