Automotive Composites Market to cross 4000 kilo tons in 2024

1
Automotive Composites Market in North America
will grow at over 6 CAGR up to 2024
2
Key Insights from Automotive Composites Market

• Global automotive composites market demand is
  expected to cross 4000 kilo tons till 2024.
  Continuously rising efforts by vehicle
  manufacturers across the globe for reduction in
  overall vehicles weight will primarily drive the
  automotive composites market growth over the
  forecast timespan. Usage of these composites
  results in considerable reduction in carbon
  emissions, that leads to their high preference,
  positively impacting the industry.
• Majority of OEMs in Europe and North America have
  carried out extensive vehicle weight reduction
  plans owing to stringent environmental
  regulations. Moreover, National Highway Traffic
  Safety Administration (NHTSA), U.S. in
  association with the Environmental Protection
  Agency (EPA) has launched a national program for
  significant reduction in carbon emissions and
  improvement of fuel efficiency of heavy-duty
  vehicles.
• Rising usage of carbon fibers as reinforcement
  for plastic matrices has gained prominence in the
  automotive composites market. These composites
  possess higher stiffness and more potential for
  weight reduction as compared to its counter parts.

3
Continued...

• Automotive composites market from glass fiber
  accounted for over USD 9 billion in 2016 and is
  anticipated to continue its dominance over the
  forecast timeframe. The substantial revenue
  generation is attributed to its advantages over
  the counterparts such as higher strength, and
  resistance to heat chemical attacks.
• Automotive composites market from compression is
  expected to dominate the revenue share surpassing
  USD 9 billion over the next eight years owing to
  high usage of this process in glass fiber
  composites. Moreover, this process is used for
  mass production of composites, further supporting
  the industry dominance. RTM is likely to exhibit
  around 7 CAGR till 2024 owing to regular
  innovations in this process over the past years.
• Exterior applications will account for around USD
  9 billion by 2024 owing to extensive usage of
  these composites in exterior vehicle
  applications. usage of these composites results
  in 20 weight reduction coupled with higher
  damage tolerance and less production time.
  Automotive composites market from structural and
  powertrain application will exhibit around 7
  CAGR owing to high usage of glass and carbon
  fibers in vehicles structural components.

4

Latest Research Report On Automotive Composites
Market _at_ https//www.gminsights.com/industry-analy
sis/automotive-composites-market Request for
a sample of this research report
_at_ https//www.gminsights.com/request-sample/detail
/338
5
U.S. Automotive Composites Market, By Fiber, 2016
2024, (Kilo Tons)

6
Major Companies in Automotive Composites Market

• ACP Composites
• Hexcel Corporation
• Johns Manville Corporation
• DowAksa
• Owens Corning Corp.
• Revchem Composites
• SGL Group
• Clear Water Composties
• Jushi Group Co. Ltd.
• Protech Composites, and Toray Industries

7
Industry Coverage

8
Regional Insights in Automotive Composites
Market

• Asia Pacific automotive composites market is
  expected to capture over 45 revenue share till
  2024. Presence of numerous vehicle manufacturers
  across the regions coupled with continuously
  rising vehicle production, especially in emerging
  countries including India and China will
  primarily support the revenue generation.
• Europe will pose around 6 CAGR owing to
  extensive usage of composites due to stringent
  regulations regarding carbon emissions from
  vehicles. Rising RD investments along with
  established automobile industry will further
  propel the regional growth ver the forecast
  timeframe.

9
Stay In Touch Website www.gminsights.com Soci
al Media