Automotive Composites Market Share, Trend & Growth Forecast to 2026

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Automotive Composites Market 2020-2026 Growth
Forecast Industry Share Report
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Key Insights Automotive Composites Market

• 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.
• With regards to the manufacturing process
  spectrum, the global automotive composites
  industry is categorized into compression,
  injection, resin transfer molding (RTM), as
  well as other manufacturing processes such as
  pre-peg layup process.

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Continued

• Automotive composites are light-weight materials
  that are adopted in producing multiple automotive
  interior, exterior, as well as other auxiliary
  systems and components in vehicles. Increasing
  adoption of these composites for weight reduction
  in hybrid and electrically-powered vehicles will
  assert a positive influence on global market
  expansion in the years ahead.
• For example, Covestro and Guangzhou Automobile
  Group Co. Ltd.'s Research and Development Center
  have partnered up to develop a new lightweight
  composite-based seat back for the auto company's
  new electric concept car, ENO.146. The composite
  seat back is part of GAC's aim to develop an
  aerodynamically efficient electric car, which
  includes various other lightweighting efforts and
  extensive use of sustainable materials for a
  majority of the car's components, including the
  seats.

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Major Companies Automotive Composites Market

• ACP Composites
• Clearwater Composites
• Cytec Solvay Group
• DowAksa
• Hexcel Corporation
• HITCO Carbon Composites

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Regional Automotive Composites Market

• 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.

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