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Automotive Composites Global Market Report 2024 - By Share, Size, Growth, Trends, Forecast To 2033
Automotive Composites Market
As per the report, the automotive composites market size has grown rapidly in recent years. It will grow from $7.33 billion in 2023 to $8.14 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The automotive composites market size is expected to see rapid growth in the next few years. It will grow to $12.44 billion in 2028 at a compound annual growth rate (CAGR) of 11.2%.
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What Is Driving The Growth Of The Global Automotive Composites Market?
Impact Of Demand For Lightweight And Fuel-Efficient Vehicles On The Automotive Composites Market
The increasing demand for lightweight and fuel-efficient vehicles is expected to propel the growth of the automotive composites market going forward. Lightweight and fuel-efficient vehicles refer to automobiles designed to minimize overall weight through materials such as composites and alloys, aiming to reduce fuel consumption and emissions while improving performance. The rising adoption of lightweight and fuel-efficient vehicles is driven by regulatory pressures for lower emissions, consumer demand for improved fuel economy, and advancements in materials technology enabling lighter yet stronger vehicle components. Automotive composites are used to replace traditional materials such as steel, reducing vehicle weight and improving fuel efficiency through their high strength-to-weight ratio and design flexibility
What Is The Key Trend In The Global Automotive Composites Market?
Advanced Eco-Friendly Solutions Enhanced Market Growth
Major companies operating in the automotive composites market are focused on developing innovations such as glass fiber composite technology to enhance strength and reduce weight in vehicle manufacturing. Glass fiber composite technology refers to the use of glass fibers embedded in a resin matrix to create strong and lightweight materials for various applications, including automotive components.
How Is The Global Automotive Composites Market Segmented?
The automotive composites market covered in this report is segmented -
1) By Material: Glass Fiber Composites, Natural Fiber Composites, Carbon Fiber Composites, Aramid Fiber Composites, Other Materials
2) By Resin: Thermoplastic, Thermoset
3) By Manufacturing Process: Compression Molding, Injection Molding, Resin Transfer Molding (RTM), Other Manufacturing Processes
4) By Application : Exterior, Interior, Structural And Powertrain, Other Applications
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How Is The Competitive Landscape Of The Global Automotive Composites Market?
Major companies operating in the automotive composites market are BASF SE, General Electric Company, Compagnie de Saint-Gobain S.A, Toray Industries Inc., DuPont de Nemours Inc., Owens Corning Corporation, Lanxess AG, Teijin Ltd., Solvay S.A., Nippon Sheet Glass Co. Ltd., Avient Corporation, Johns Manville Corp., Hexcel Corporation, SGL Carbon India Private Limited, Gurit (Tianjin) Composite Material Co. Ltd., Momentive Performance Materials Inc., UFP Technologies Inc., Exel Composites plc, Mitsubishi Chemical Carbon Fiber and Composites Inc., Sigmatex Limited, Composites Evolution Ltd., Innegra Technologies LLC
Contents Of The Global Automotive Composites Market
1. Executive Summary
2. Automotive Composites Market Report Structure
3. Automotive Composites Market Trends And Strategies
4. Automotive Composites Market - Macro Economic Scenario
5. Automotive Composites Market Size And Growth
…..
27. Automotive Composites Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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