The foremost reasons fuelling the adoption of composite materials in the automotive industry are strict government regulations on Green House Gas (GHG) emissions, increased usage of composites, among hybrid and electric vehicles and better mechanical and structural properties of composites compared to other materials such as steel and aluminium among others. In terms of materials, Metal Matrix (MMC), Polymer Matrix (PMC), Ceramic Matrix (CMC) and others (Hybrid Composite), are the major types of composite materials used by the vehicle manufacturers. In 2018, global automotive composite materials market was dominated by PMC and is expected to generate a revenue of US$ 4.23 billion by 2020, followed by MMC and CMC. On the other hand, a noticeable inclination towards hybrid composites is seen during the past few years, owing to their lower cost than pure carbon fibres. The hybrid composite material is anticipated to be the fastest-growing material type during the forecast period. The global Automotive Composite Materials Market is projected to achieve market worth of US$ 9,037.4 million by 2025, expanding at a CAGR of 9.97% during the forecast period 2019-2025.

The manufacturing process is one of the important facets of composite part manufacturing. Different processes impart different behavioural and physical properties of the composite materials. At present, the cost of raw materials and installation of manufacturing plants is adversely affecting the overall growth of the market. Based on manufacturing processes adopted for the composite material manufacturing for its use in the automotive industry include compression moulding, hand lay-up (manual), Resin Transfer Moulding (RTM) and injection moulding. Amongst all, injection moulding dominated the market, however, the capability of RTM to make complex shapes in lesser cycle time is projected to boost their frequent use for composite material manufacturing. Previously, composite materials were majorly deployed for the exteriors of the vehicle, however, owing to several mechanical as well as structural benefits, the application area of composites in a vehicle has broadened. They are now used in interiors, Powertrain, under the hood, chassis, and structural parts of the vehicle as well. In 2018, exterior application dominated the market with a market size of US$ 3,176.4 million and is expected to continue its dominance over the analysed period. However, rise of vehicle interior air quality regulations is projected to fuel the demand for composites for vehicle interiors in the upcoming future.

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Due to the strict emission standards on greenhouse gases via vehicles, widespread use of composite materials to reduce the overall weight of the vehicle is expected to escalate the demand for composite material for vehicle manufacturing. The study analyses the penetration of composite materials in passenger cars, supercars and other commercial vehicle segment. At present commercial vehicles hold a tiny share of the market, on the other side penetration of composite materials in the sports car segment is enormous. The usage and demand of composite materials in passenger car segment have also expanded over the time period. This segment dominated the market in 2018 and is projected to continue its dominance during the forecast period, as this is the largest segment in the auto industry in terms of volume, however the penetration of composite materials would remain lower as compared to that in the sports car segment

For extensive understanding of the market penetration of Automotive Composite Materials Market, the industry is analyzed based on geographies and countries including North America (the U.S. , Mexico ,Canada and rest of North America), Europe (Germany, the U.K., Russia, France, Italy, Spain and Rest of Europe), Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia and rest of Asia-Pacific), Middle East and Africa (the UAE, Saudi Arabia, Algeria, Egypt, Kuwait, Qatar and rest of Middle East and Africa) and Latin America (Brazil, Chile, Argentina and Rest of Latin America). Due to the robust presence of several composite material manufacturers in countries such as Japan, China, and India; Asia Pacific dominated the global automotive composite materials market, with market size of US$ 2,355.9 million in 2018. Further, the stringent rules and regulations on GHG emissions in North America and Europe are projected to fuel the automotive composite material market in both the regions in the coming years.

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Major companies operating in the global Automotive composite materials market study include BASF Corporation, Dupont, Magna International Inc., Mitsubishi Chemicals Holding Corporation, Gurit Holding AG, Owens Corning, Solvay S.A., SGL Group, Teijin Limited and Toray Industries Inc. These players are entering into partnerships with auto OEMs to implement cost-efficient composite materials on the vehicles. Some of the key players are also expanding their businesses by setting up new plants or expanding their expenditure on R&D to develop cheaper manufacturing methods.

UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Automotive Composite Material Market can be customized to regional level/country level or any other market segment.

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