According to a market report by Lucintel, the future of the North American automotive composites market looks promising with opportunities in the exterior, interior, power train system, chassis system, under body system, electrical and electronics, and chassis system. The North American automotive composites market is expected to reach an estimated $3 billion by 2031 with a CAGR of 3% from 2024 to 2031. The major growth drivers for this market are increase in production of passenger cars and light commercial vehicles are expected to boost composites material materials in the automotive industry in the next five years and increase usage of composites in chassis, insulating panels, casing, mufflers, and sound insulation parts of the vehicles.
A more than 150-page
report to understand trends, opportunity and forecast in North American
automotive composites market by material type (SMC, BMC, LFT, SFT, GMT, and
CFT), resin type (PP composites, PBT composites, PA composites, polyester
composites, vinyl ester composites, epoxy composites, phenolic composites, and
other resin types), application (interior, exterior, power train system, under
body system, electrical and electronics, chassis system, and other
applications), resin group (thermoset composites and thermoplastics
composites), fiber type (glass fiber composites, carbon fiber composites, and
natural fiber composites), and Countries (US, Canada, and Mexico).
Lucintel forecasts that
short fiber thermoplastic (SFT) North American automotive composites is
expected to remain the largest segment and continuous fiber thermoplastic (CFT)
composites segment is expected to witness the highest growth in the forecast
period.
Exterior will remain the
largest application segment and is also expected to witness the highest growth
over the forecast period due to its increasing usage in automotive industry.
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North
American automotive composites market.
BASF, DuPont, SABIC, RTP
Company, Celanese, Teijin, Lanxess, Core Molding Technologies, IDI Composites,
LyondellBasell are among the major North American automotive composites
providers.
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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