Insights on Global Automotive Composites Market Covering
Prime Factors and Competitive Outlook till 2027
Research Nester recently published report titled “Automotive
Composites Market: Global Demand Analysis & Opportunity
Outlook 2027” delivers the detailed overview of the global automotive
composite market in terms of market segmentation by fiber, resin,
manufacturing process, composite components and by region.
The global automotive composite market can be segmented by fiber, resin,
manufacturing process, composite components and regions. Based on
fiber type, the market is segmented into carbon, glass and natural. On the
basis of resin type, the market is segmented into thermoset and
thermoplastic. The market is further segmented by manufacturing
process into compression moulding, injection moulding and continuous
moulding; by composite components into exterior, interior and engine.
Increasing need for environment-friendly electric vehicles owing to
alarming rising pollution levels coupled with growing adoption of natural-
fibre based composites in automotive applications will drive the
automotive composite market.
The global automotive composites market is anticipated to expand at a
CAGR of around 8.3% during the forecast period i.e. 2019-2027. On the
basis of resin type, thermoset segment is anticipated to lead the market,
owing to their properties such as resistance to heat expansion and
moisture, protection against corrosion and high temperatures, as they are
mostly used for manufacturing heat shields, fuel vapor canister brackets
radiator brackets etc. Based on composite component, the exterior
segment is projected to lead the market, on the back of rising utilization
in manufacturing of exterior parts which includes fenders, hoods, bumper
beams, and deck lids of vehicles to increase their overall strength.
By region, the global automotive composites market is segmented into
North America, Asia-Pacific, Latin America, Europe, Middle East and
Africa. North America is expected to dominate the market for automotive
composites. Strong potential outlook in interior, structural and exterior
applications will fuel the industry demand. Besides, innovations in vehicle
manufacturing and implementation of light weight component is likely to
further support the market growth. Europe led by Germany, Italy, France
and Russia will have significant growth on back of stringent government