Automotive Composite Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Exterior, Interior, Powertrain, Others) and Geography

MARKET OVERVIEW

Composites are often used in motorsports and lower-volume, high-end/ luxury vehicles, which typically favor continuous carbon fiber materials. Composites are composed of two or more diverse phases and insoluble substances. Made up of super performance fiber, they offer enhanced properties against those provided by the original materials when joined with each other. When these composites are used in automotive, it is termed as "automotive composites." These automotive composites are used in vehicle bodies in single and multiple coats as per the requirement.

MARKET SCOPE

The "Global Automotive Composite Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the automotive composite market with detailed market segmentation application, and geography. The report provides key statistics on the market status of the leading automotive composite market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on application, the market is bifurcated into exterior, interior, powertrain, and others.

MARKET DYNAMICS
Drivers

•   Demand for high end cars among youngsters (sports & racing cars) are rising globally and in order to manufacture these cars, thermosets composites are in demand.
•   The composites are also used in manufacturing of external parts of vehicles and they ensure that these parts offer high stiffness resulting in minimum damages during accidents and that the vehicles have a longer life cycle and involve low maintenance costs.
•   Demand for fuel- efficient and light weight electrical vehicles is rising worldwide.

Restraints

•   Limited collaborations across the supply chain of automotive.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive composite market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive composite market in these regions.

IMPACT OF COVID-19 ON AUTOMOTIVE COMPOSITE MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East & Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. All these factors are anticipated to affect the chemical & materials industry in a negative manner, thereby act as restraining factor for the growth of various markets related to this industry in the coming months.

MARKET PLAYERS

The report covers key developments in the automotive composite market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from automotive composite market are anticipated to lucrative growth opportunities in the future with the rising demand for automotive composite in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the automotive composite market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Aragonesa de Components Pasivos
•   Cytec Solvay Group
•   Hexcel Corporation
•   Johns Manville Corporation
•   Koninklijke Ten Cate
•   SGL Carbon Group
•   Toho Tenax America
•   Teijin Limited
•   Owens corning
•   Zoltek carbon fiber

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.