Composite Materials Market
are accepted by many automotive industries for safety standards and are anticipated to show significant growth in the market in future. Natural fiber-reinforced plastic composite is majorly preferred for automotive interiors due to varied applications such as gear knobs, flooring, seat trims, and others. However, carbon fiber-reinforced plastic( CFRP) is prominently used in the sports and luxury vehicles for automotive interiors and dashboards. It possesses high appearance and strength-to-weight ratio; this is anticipated to fuel market growth in future.
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Global Composite Materials Market for Automotive: Segmentation
The global composite materials market for automotive is bifurcated based on application as, powertrain, exterior, structural, interior and others. The composite materials market for automotive is further segmented on the basis of composite materials as glass fiber reinforced plastic( GFRP), ceramic matrix composite( CMC), polymer matrix composite( PMC), metal matrix composite( MMC), carbon fiber reinforced plastic( CFRP), and natural fiber reinforced plastic( NFRP). Of these, natural fiber reinforced plastic( NFRP) is the dominating composite materials segment in the global composite materials market for automotive.
Global Composite Materials Market for Automotive: Regional Analysis
North America is the leading player in the global composite materials market for automotive. This region is anticipated to grow at a faster rate due to increasing automotive production. The automotive industry is growing mainly for light vehicles in this region which is positively impacting the global composite materials market for automotive growth. Growing production