TechNavio recognizes the following companies as the key players in the Global Automotive Composite Market: Toray Industries Inc., Mitsubishi Rayon Co. Ltd., TOHO Tenax Co. Ltd., and Gurit Holding AG.
Commenting on the report, an analyst from TechNavio’s Automotive team said: “The Global Automotive Composites market has witnessed many strategic expansions and agreements, and this trend is expected to increase in the future. For instance, in the recent past, Toray Industries Inc. established a joint venture with Daimler AG, where both companies will work together in the development and manufacturing of carbon fiber-based automotive components. Recently, SGL Group formed a joint venture with BMW AG for the development of lightweight and carbon fiber-based components. Furthermore, Teijin Ltd. established a joint venture with General Motors Co., where both companies will jointly develop carbon fiber-reinforced thermoplastic automotive components. Other players are also concentrating on joint ventures as a way to capture more market share, enhance their distribution channels and their market reach, and remain competitive in the market.”
According to the report, one of the major factors driving the market is the weight-reduction measures taken by automobile manufacturers. This has increased the potential of automotive parts made from composites. The reinforcement of fuel economy standards has also propelled the demand for automotive composites, resulting in the growth of the Global Automotive Composites market.
Further, the report states that one of the major challenges in the market is the high cost of automotive composites, making it difficult for automobile manufacturers to keep their product prices low, which in turn affects the financial status of manufacturers.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are 3M Co., Advanced Composites Group, AGY Holding Corp., BASF SE, Cytec Industries Inc., Hexcel Corp., Huntsman International LLC, SGL Group, Umeco plc , and Zoltek Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-automotive-composite-market-2012…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/automotive
Follow us on Twitter @ Technavio
TechNavio Announces the Publication of its Research Report -Global Automotive Composite Market 2012-2016
