According to the latest market research study, the global automotive composites market is expected to grow at a CAGR of close to 9% during the forecast period of 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global automotive composites market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the product type
|
PRODUCT TYPE |
MARKET SHARE 2016 (%) |
|
Polymer matrix composites |
75.46% |
|
Metal matrix composites |
16.92% |
|
Ceramic matrix composites |
7.62% |
Source: Technavio
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The top three revenue contributing product segments are discussed below
Global automotive composites market by polymer matrix composites: In 2016, polymer matrix composites segment accounted for the highest share in the global automotive composites market.
“The growth of this segment is due to the lower costs and simpler fabrication methods of polymer matrix composites like glass fiber and natural fiber composites. Glass fiber composites have the largest market share among other polymer matrix composites, and APAC is the largest market for polymer matrix composites,” says Ajay Adhikhari, a lead analyst at Technavio for research on textile, fiber, and composites.
Global automotive composites market by metal matrix composites: It is the fastest growing product type among all the composites. Properties such as high malleability, hardness, and wear resistance have increased the applications of metal matrix composites in various industries like automotive, electronics, and aerospace.
Global automotive composites market by ceramic matrix composites: In the automotive sector, ceramic matrix composites are extensively used in brake disks, clutches, and slide bearings. Europe and North America are the top markets for the production and consumption of ceramic matrix composites.
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The top vendors operating in the global automotive composites market are:
- Cytec Solvay
- Mitsubishi Rayon
- SGL Group
- Teijin
- Toray Industries
The other prominent vendors in the market include Hexcel Corporation, DowAksa, E. I. du Pont de Nemours and Company, Holding Company Composite, Johns Manville, Johnson Controls, Koninklijke Ten Cate N.V., Owens Corning, Saertex, Scott Bader Company, UFP Technologies, and Zhongfu Shenying Carbon Fiber.
A more detailed analysis is available in the Technavio report titled, ‘Global Automotive Composites Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports
- Global Automotive Lightweight Materials Market 2016-2020
- Global Advanced Composites Market 2016-2020
- Global Carbon Fiber-reinforced Plastic Market 2016-2020
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