Global Automotive Composites Market: Global Industry Size, Demand, Trends and 2026 Future Report
Automotive composites are materials which are utilized to make a vehicle more secure, lighter and more eco-friendly. Composite materials utilized in auto intentions enjoy a few upper hands over customary steel. These composites are made out of elite execution strands, for example, glass or carbon in a material known as epoxy polymer which are joined together to give improved properties. These composites don't erode or rust and gives phenomenal strength and solidness. They are extremely light when contrasted with ordinary steel which assists them with upgrading vehicle's eco-friendliness.
ChemIntel360’s global Automotive Composites market study is a 150+ slide report containing in-depth analysis on historical and forecasted spending and consumption patterns in the sector. We offer granular value and volume data from a global, regional, applications, and end-use industry perspective. The industry is expected to grow at a CAGR of 11.5% mainly due to the increasing consumption of the chemical as a stock material for production of low weight automotive components. Growing emphasis on improving the overall fuel efficiency will support the market during forecast period.
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Automotive composites are broadly utilized for assembling vehicles because of rising severe unofficial laws. The utilization of cutting-edge auto composites in the auto business is extremely restricted by virtue of significant expense of the unrefined substances. Carbon fiber has been widely utilized in superior execution vehicles to build its exhibition by planning complex streamlined shapes which are utilized to diminish drag.
Scope
This study contains global and regional Market size data - value and volume. The numbers are broken down by application (Interior Components, Exterior Components, Structural and Powertrain Components, and Others), by type (Glass Fiber, Carbon Fiber, and Others). The historical period runs through 2015-2020 and the forecasted period from 2021-2026.
Market Overview
The global Automotive Composites Market, which grew from US$X.X billion in 2015 to US$X.X billion in 2019, dropped marginally to US$5.4 billion in 2020, due to the ongoing COVID-19 pandemic. Spending is expected to recover in 2021 to value US$X.X billion and increase to US$X.X billion in 2026 at a CAGR of X.X%. Cumulatively the Market is expected to value US$X.X billion during the forecast period as compared to US$X.X billion during the historical period.
Geographical Analysis
The dimethyl carbonate market size has spread worldwide, like North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Key Players
Some of the key participants mentioned in the automotive composites market report are Mitsubishi Chemical, Teijin Limited, SGL Carbon SE, Solvay Group (Cytec Solvay Group), and Holding Toray Industries Inc.
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