Irving, Texas (PRWEB) October 09, 2012
Composites have been a part of the North American automotive industry since 1930. The market has witnessed favorable growth in the past few years and is projected to reach US $2,078 million with a CAGR of 6.1% in next five years. The future of this market reflects good growth opportunities. Engineered composites have enjoyed consistent growth as the concept of light weight is becoming more crucial for the automotive market, seeking new ways to reduce vehicle weight.
Lucintel, a leading global,management consulting and market research firm, has conducted a competitive analysis on the present and future trend of the composite materials in the North American automotive market and presents its findings in "Opportunities for Composites in North America Automotive Market 2012-2017." The report provides a brief overview of the future of composites compared to competing materials in North American automotive market.
The increased use of composites is not without its challenges. The main challenge is cost pressure. Composites such as carbon fiber precursors are too expensive, and the processing methods are too slow and costly. Another reason is that the metal manufacturers seem to be well organized and can promptly adjust to the current changes and supply the automakers with the products they need. The composites market needs to match the metal industry's unity of purpose.
Composites products also have some positive aspects. The primary reason to accumulate composites for a vehicle application is weight reduction, which helps in fuel economy and better vehicle performance. Secondly, the Federal Corporate Average Fuel Economy standards have forced automakers to produce more fuel efficient vehicles to decrease the average CO2 emission in the environment.
Among the thermoplastic composite materials, LFRT and D-LFT have found increasingly new applications. Most of the growth of LFRT is attributed to front end carrier applications. The reduction in cycle time as well as optimization of automation system and extrusion techniques made D-LFT an attractive alternative for high volume production.
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