Automotive & Transportation Industry Automotive Composites Market 2024

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Automotive Composites Market Size, Share, Growth, Industry
Analysis and Forecasts, 2016 to 2024 - Hexa Research
" The global automotive composites market stood at
USD 3 billion in 2015 and will reach around USD 7.5
billion by 2024 growing at a healthy CAGR of 8.5 %
from 2016 to 2024."
The global Automotive Composites Market stood at over USD 3 billion in 2015 and is expected to surpass USD
7.5 billion by 2024 expanding at a CAGR of over 8.5 %. Rising preference for high fuel efficiency in passenger
cars and growing vehicle production, particularly in the Asia-Pacific (APAC) region, will drive the global market
during the forecast period (from 2016 to 2024).
Increasing urban population base, especially in developing countries such as India & China, will offer numerous
growth opportunities to the market players. However, recyclability issues along with high costs of raw material
are likely to hinder the worldwide Industry growth.
The global market is categorized into products, applications, and regions.
Based on products, the global automotive composites market is segmented into Ceramic Matrix Composites
(CMC), Metal Matrix Composites (MMC), and Polymer Matrix Composites (PMC). Polymer matrix composite is
further categorized into Carbon Fiber Reinforced Polymer composites (CFRP) or natural fiber reinforced
polymer composites and Glass Fiber Reinforced Polymer composites (GFRP). The metal matrix com posites
(MMC) market is likely to exceed USD 435 million by 2023.
Browse Details of Report @ https://www.hexaresearch.com/research-report/automotive-composites-market
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