Cost and weight savings, as well as recyclability, are all advantages of composites over standard steel and injection moulded automobile parts. Polymer matrix composites are commonly used to create interiors, exteriors, and structural components. The market for automobile polymer matrix composites is dominated by the exterior segment. Due to increased demand for high performance lightweight materials in the automotive industry, carbon fibre reinforced composites is expected to be a very appealing market by the end of the projection period.
The global polymer matrix composites market may be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa in terms of geography. Due to the rapid expansion of the automotive sector in countries such as China, India, and Japan, the Asia Pacific automotive polymer matrix composites market is expected to grow over the projected period. As a result, throughout the forecast period, Asia Pacific is expected to dominate the global market. In terms of market share, North America and Europe behind Asia Pacific in automobile polymer matrix composites. Nonetheless, the carbon reinforced automotive polymer composites market in North America is expected to rise at a rapid pace. Due to the tremendous expansion of the automotive sector in the region, the automotive polymer matrix composites market in Latin America is expected to grow at a significant rate during the projected period. The Middle East and Africa are also expected to be busy.
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