regulations focusing on reducing overall vehicle weight and carbon
emissions with implementation of advanced materials is likely to fuel the
industry demand. Increasing R&D coupled with presence of large
manufacturers in the region will further support the market growth.
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Rising Trend of Motorization
The product offers superior strength to weight ratio and increases fuel
efficiency of the vehicles. Ever-changing trends towards cost effective
alternatives, sturdy and light weight components will positively influence
the product penetration. Development in the production facilities and as
well as reduction in the manufacturing time and capital cost are posing
new opportunities for the industry players all over the world.
Development of electric & hybrid automobiles offering long travel
distance owing to reduced weight will further support the market growth.
Stringent protocols to considerably reduce carbon emissions along with
increasing global vehicle production with focus on improving the vehicle
efficiency is projected to fuel the market demand.
However, hefty set up cost required for the manufacturing may affect the
product penetration. Carbon fiber are difficult to repair mainly for the
vehicle exteriors. Damage to the product during accidents requiring
replacement of the part may affect the automotive composites market
share. Industry players are focusing on increasing the production capacity
and thus reducing the overall cost making it affordable and thus
increasing the automotive composites penetration all over the globe.
Further, for the in-depth analysis, the report encompasses the industry
growth drivers, restraints, supply and demand risk, market attractiveness,
BPS analysis and Porter’s five force model. This report also provides the
existing competitive scenario of some of the key players of the global
automotive composite market which includes company profiling of key
companies such as Cytec Solvay Group, Hexcel Corporation, Johns
Manville Corporation, Koninklijke Ten Cate, Owens Corning Corp.,
Protech, ACP Composites, Toho Tenax America, Toray Industries and
Zoltek Carbon Fiber. The outlining enfolds key information of the
companies which encompasses business overview, products and services,