Composite Materials Market

Composite Materials Market for Automotive worth 11.26 Billion USD by 2020

The report "Composite Materials Market for Automotive by Material Type (PMC, MMC, & CMC), Application & their Sub-Components (Structural, Powertrain, Interior, Exterior, & Others), Vehicle Type (PC, LCV, HCV, & Rolling Stock) & Region-Global Forecast to 2020", The composite materials market for automotive is projected to grow at a CAGR of 12.94% from 2015 to 2020, to reach a market size of USD 11.26 Billion by 2020. Government regulations and mandates regarding fuel efficiency, rising demand for fuel efficient vehicles, and major OEMs partnering with composite material manufacturers are some of the drivers fueling growth in sales of automotive composite materials globally.

                       Request Sample                          Request Sample

Browse 71 market data Tables and 58 Figures spread through 167 Pages and in-depth TOC on "Composite Materials Market for Automotive by Material Type (PMC, MMC, & CMC), Application & their Sub-Components (Structural, Powertrain, Interior, Exterior, & Others), Vehicle Type (PC, LCV, HCV, & Rolling Stock) & Region-Global Forecast to 2020"
Early buyers will receive 10% customization on reports.

Automotive Interiors: Promising application for composite materials

Automotive interiors is one of the largest markets for composite materials, with various different components being employed including steering wheel, dashboard, door panel, and seat covers among others. Given the progressively stringent emission and safety standards across the globe, composite materials are being increasingly adopted in vehicles; this has increased the demand for composite materials. NFRP composite is most commonly used for automotive interiors due to its numerous applications including in seat trims, flooring, and gear knobs among others. However, various luxury and sports cars use CFRP composites for dashboards and other automotive interiors because of its impressive strength-to-weight ratio and appearance. These factors are said to propel the overall market for automotive composite materials.

Carbon Fiber Reinforced Plastic (CFRP)–An opportunity in the near future

The carbon fiber reinforced polymer market has seen steady growth from last three to five years, being a key material for the automotive industry in the 21st century. The CFRP market is mainly driven by technological innovations and new high value applications. Despite various challenges such as fluctuating raw material costs and environmental concerns, the market is projected to grow in the forecast period. Advanced technologies and new business opportunities are expected to emerge in major and novel applications. The leading composite manufacturers are continuously focusing on increasing their production capacities and are investing in research facilities to develop new technologies so as to reduce the cost of CFRP composites.

North America: Fastest-growing market for composite materials

The North American automotive industry has risen over the years in terms of growth and profitability mainly attributable to the increasing automotive production. According to the Organisation Internationale des Constructers Automobiles (OICA), the automotive industry in the region is considered to be one of the fastest growing, having a growth rate of 6.9% from 2013 to 2014. The region has also showed an increased growth in the light commercial vehicles segment having a growth rate of 9.7% from 2013 to 2014. During the forecast period, the North American market is projected to grow at the fastest rate, which will further push the demand for automotive composite materials.

Companies such as Owens Corning and Cytec Industries Inc. have headquarters in the U.S. and are the one of the leading manufacturers of composite materials.

The major players involved in the automotive composite materials market are Toray Industries Inc. (Japan), Cytec Industries (U.S.), SGL Carbon (Germany), Teijin Limited (Japan), and TenCate NV (The Netherlands) among others.

About MarketsandMarkets

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Mr. Rohan
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]

Composite Materials Market Size,  Share & Growth Report
Report Code
AT 3831
PR Published ON
Choose License Type
Request Customization
Speak to Analyst
Speak to Analyst
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
  • What are the Known and Unknown Adjacencies Impacting the Composite Materials Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
©2024 MarketsandMarkets Research Private Ltd. All rights reserved Protection Status

Digital Virtual Assistant - MarketsandMarkets