According to a market report by Lucintel, the future of the composites in the global automotive market looks promising with opportunities in interior, exterior, power train system, chassis systems, electrical and electronics and under body system applications. The composite in the global automotive market is expected to reach an estimated $13 billion by 2031 from $10 billion in 2024, at a CAGR of 4% from 2024 to 2031. The major drivers for this market are rise in demand for vehicles that are fuel efficient and have low carbon emissions and corrosion resistivity and low thermal expansion.
A more than 150-page report to
understand trends, opportunity and forecast in composites in the global automotive market to 2030 by compound material
(SMC, BMC, GMT, LFT, CFT, and SFT), application (exterior, interior, power
train system, chassis system, electrical and electronics, under body system,
and other applications), fiber (glass fiber and carbon fiber), resin group
(thermoset resin and thermoplastic resin) , and region (North America, Europe,
and Asia Pacific & the Rest of the World).
Lucintel
forecasts that powertrain system will remain the largest application segment
and is also expected to witness the highest growth over the forecast period.
SFT
expected to witness the largest segment and CFT is expected to witness the highest
growth over the forecast period.
Download
sample by clicking on composites in the global automotive
market.
APAC and
ROW is expected to remain the largest region by value and volume also due to
higher penetration of composites in automotive in this region than other
region.
BASF,
Advent International, Dupont, SABIC, Lanxess, Syensqo, Teijin, IDI Composites,
Hanwha Advanced Materials, Celanese Corporation, and Lanxess are the major
suppliers in the composites in the global automotive market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com. To get
access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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