“The automotive composite materials market is projected to be largest in Asia-Oceania from 2015 to 2020. This can be attributed to the rising demand for automobiles in this region. Many OEMs are expanding in this region to cater to this demand. Along with increasing vehicle production; economic development, large population in the region, improving emission regulations, rising awareness about eco-friendly systems, and benefits of better fuel efficiency are key factors driving growth of the automotive composite materials market in the Asia-Oceania region.
Composite materials are used to increase the efficiency of a vehicle by reducing its overall weight and hence its overall fuel consumption. The composite materials are used in different applications in a vehicle such as structure, powertrain, interior, and exterior. The current scenario of emission norms getting stringent every year, and automotive OEMs are bound to use better and lighter materials to keep the vehicle under emission limits. There have been various factors leading to the evolution in composite materials, namely, the need for improved fuel economy, greater power requirements, increasing vehicle performance requirements, and enhanced driving experience.
The market is dominated by players including Toray Industries (Japan), Cytec Industries (U.S.), SGL Carbon (Germany), Teijin Limited (Japan), and TenCate NV (The Netherlands).
This report classifies and defines the composite materials market size, in terms of volume and value. Market size, in terms of volume, is provided in thousand metric tons (tMT) from 2013 to 2020, whereas the market size, in terms of value, is provided USD Million.
Reasons to Buy the Report:
This report has focused on various levels of analysis; including industry analysis (industry trends, Porters Five Forces, and PEST analysis), value chain analysis, and company profiles, which together comprise and discuss the basic views on the emerging and high-growth segments of the composite materials market, competitive landscape, drivers, restraints, opportunities, challenges, high-growth regions & countries, and government initiatives.
The report enables both, the new entrants/smaller firms as well as established firms to understand the market, which in turn helps them acquire a larger market share. Firms purchasing the report could use any one or a combination of the below-mentioned four strategies (market development, product development/innovation, market diversification, and competitive assessment) to strengthen their position in the market.
The report provides insights with reference to the following points:
ï® Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for automotive composite materials across regions
ï® Product Development/Innovation: Detailed insights of the R&D activities, upcoming technologies, and new product launches in the global automotive composite materials market
ï® Market Diversification: Detailed information about untapped markets, investments, new products, and recent developments in the global automotive composite materials market
ï® Competitive Assessment: In-depth assessment of strategies, products, manufacturing capabilities of leading players, in the global automotive composite materials market