Key Players in the Market: Toray Industries Inc. (Japan), Owens Corning (U.S.), Johns Manville (U.S.), SGL Group (Germany), Cytec Industries Inc. (U.S.)
(PRWEB) December 03, 2014
The research report “Automotive Composite Market by Type (Polymer Matrix Composite, Metal Matrix Composite, and Ceramic Matrix Composite) and Application (Interior Components, Exterior Components, Chassis & Power-train Components and Others) - Global Trends & Forecast to 2019”, defines and segments the global market with an analysis and forecast of its global volume and value.
Browse 91 Market Data Tables and 86 Figures spread through 150 Pages and in-depth TOC on “Automotive Composite Market by Type and by Application - Global Trends & Forecast to 2019”.
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“According to the Report, Asia-Pacific is the Biggest Market for Automotive Composite”
The Asia-Pacific region was the world’s largest market for automotive composite in 2013. China is the key consumer of automotive composite in Asia-Pacific. The need for lightweight and fuel efficient vehicles shifted manufacturers to focus towards automotive composites. Various product launches, partnerships, agreements, and expansions have in turn made the region a potential growth market for automotive composites.
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“According to the Report, Carbon Fiber Composite is the Fastest-growing Type; while Exterior components are the Biggest Automotive Composite Application”
Carbon fiber is a material made up of carbon atoms that are aligned parallel to the main axis of the fiber. The fibers are very thin in diameter, about 1/10th the size of a human hair. The crystal alignment makes the fiber very strong for its size. Normally, carbon fibers are molded with other materials such as plastic resin and graphite to form carbon fiber composite. Carbon fiber composite is the fastest-growing automotive composite driven by its high demand for chassis & power-train components application. The chassis & power-train market for automotive composite has a wide scope for its expansion, which in turn would help in increasing the consumption for automotive composite. Exterior components are the biggest application of automotive composite and are projected to be worth $ 3,555.51 million by 2019.
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This report also defines driving and restraining factors for the global automotive composite market with the analysis of trends, opportunities, burning issues, winning imperatives, and challenges. Some of the drivers include increasing demand for fuel efficient vehicles, and reduced weight and parts consolidation offered by automotive composite. Some of the restraints include high cost of composite, and concerns about recyclability. There are some opportunities which will change the dynamics of automotive composite industry in the years to come, which include emission regulations that are forcing Original equipment manufacturer (OEM)’ attention towards composite, and growth opportunity in high volume production of structural automotive components. The market is forecasted based on regions, such as North America, Europe, Asia-Pacific, and Rest of the World (RoW) by both value and volume. The regional automotive composite market is further segmented on the basis of major applications.
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