Glass Fiber Automotive Composites Market will Reach Revenues Worth US$ 20 Billion by 2031

Composites have been used popularly in a range of internal and external automotive components to provide distinct structural and weight advantages.

ROCKVILLE, MARYLAND, UNITED STATES, January 22, 2022 /EINPresswire.com/ -- Fact.MR’s automotive composites industry analysis reveals that global market was valued at US$ 9 Bn in 2020, and is projected to top US$ 20 Bn by 2031, expanding at an impressive CAGR of 11% over the next ten years. Demand for glass fiber composites is projected to surge and reach a valuation of around US$ 11 Bn, with that for carbon composites is set to balloon at 12%.

The Demand of Automotive Composites Market study includes the current market scenario on the global platform and also Sales of Automotive Composites Market development during the forecast period.

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Market Segmentation as per Automotive Composites Industry Research

By Fiber:
Glass Fiber Automotive Composites
Carbon Fiber Automotive Composites

By Resin:
Thermoset Automotive Composites
Thermoplastic Automotive Composites

By Manufacturing Process:
Compression Moulding
Injection Moulding
Resin Transfer Moulding (RTM)

By Application:
Exterior Automotive Composites
Interior Automotive Composites
Powertrain Automotive Composites
Chassis Automotive Composites

By Vehicle Type:
Automotive Composites for Non-electric Vehicles
Automotive Composites for Electric Vehicles

The latest industry analysis and survey on Automotive Composites provides sales outlook in 20+ countries, across key categories. Insights and outlook on Automotive Composites market drivers, trends, and influencing factors are also included in the study.

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Key Takeaways from Market Study

The global market for automotive composites is projected to top a valuation of US$ 20 Bn by 2031.
Key factors driving sales of automotive composites are rising demand for lightweight materials in automotive, favourable emission control regulations, and surging sales of electric vehicles.
Asia Pacific dominates the market with a revenue share of 47% on account of the region having a large automotive industry.
Glass fiber composites account for around 75% of the overall market share for automotive composites.
Exterior application of automotive composite accounts for 55% in terms of revenue of the overall market.

This report gives you access to decisive data such as:

Demand of Automotive Composites Market & Growth drivers
Factors limiting Automotive Composites market growth
Current key trends of Automotive Composites Market
Market Size of Automotive Composites and Automotive Composites Sales projections for the coming years

The report also offers key trends of Automotive Composites market and an in-depth analysis of how the projected growth factors will shape the Automotive Composites market dynamics in the coming years of the forecast period.

Moreover, it also gives meaningful as well as actionable insights on the competitive analysis of Automotive Composites Market that are developing the current market scenario and which will be lucrative for the future demand of Automotive Composites Market.

Crucial insights in Automotive Composites market research report:

Basic overview of the Automotive Composites, including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Automotive Composites across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.

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The Market insights of Automotive Composites will improve the revenue impact of businesses in various industries by:

Providing a framework tailored toward understanding the attractiveness quotient of various products/solutions/technologies in the Automotive Composites Market
Guiding stakeholders to identify key problem areas pertaining to their consolidation strategies in the global Automotive Composites market and offers solutions
Assessing the impact of changing regulatory dynamics in the regions in which companies are keen on expanding their footprints
Provides understanding of disruptive technology trends to help businesses make their transitions smoothly
Helping leading companies make strategy recalibrations ahead of their competitors and peers
Offers insights into promising synergies for top players aiming to retain their leadership position in the market & supply side analysis of Automotive Composites market .

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Consumption Analysis of Automotive Composites 

Start-ups and big automobile manufacturers are actively considering to incorporate carbon fiber composites in trucks and electric vehicles in the forthcoming years.

Apart from this, the adoption of advanced automotive composites has upped the current safety level, reduced the consumption of fuels. In addition, the adoption of automotive composites has helped automotive players to fill in more functional hardware, notably gadgets.

Over the next few years, the market for automotive composites will witness a spate of innovations, with automotive powertrains providing a significant untapped area for growth. Advances in the composite market will offer OEMs better design freedom and function integration. Demand for design innovations in vehicles among customers in various parts of the world will further unlock interesting prospects for market players.

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