SHERIDAN, ALABAMA, USA, Feb. 20, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “Automotive Composites Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecast 2021 -2026, “The global automotive composites market showed strong growth during the period 2015-2020. Looking ahead, IMARC Group expects the global automotive composites market to grow at a CAGR of around 9% during the period 2021-2026. Automotive composites are made from high performance fibers such as carbon or glass and adhesive binders. They are applied to various automotive parts to provide improved properties over individual materials. They offer high strength, ease of fabrication, and excellent dimensional stability and energy absorption. As a result, original equipment manufacturers (OEMs) around the world are replacing steel with automotive composites to improve vehicle safety and fuel efficiency.
As the novel coronavirus (COVID-19) crisis grips the world, we are continuously monitoring changes in markets, as well as consumer buying behaviors around the world – our estimates on the latest market trends and values planned after taking into account the impact of this pandemic.
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Global Automotive Composites Market Trends:
Due to increasing air pollution, environmental agencies and government authorities in many countries are implementing strict regulations to minimize carbon dioxide (CO2) emissions from automobiles. Therefore, OEMs rely on automotive composites to reduce vehicle weight and maintain structural integrity. Additionally, the increasing traction of electric vehicles (EVs), along with the growing emphasis on redesigning existing vehicles, is driving the growth of the market. Apart from this, major players are offering low-cost manufacturing methods for automotive composites which is expected to boost the market growth.
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Global Automotive Composites Market Analysis and Segmentation 2021-2026
Competitive landscape with key players:
Gurit Holding AG
Johns Manville (Berkshire Hathaway)
Carbon Fiber and Chemical Composites Mitsubishi Inc. (Mitsubishi Chemical Holdings Corporation)
Scott Bader Company Ltd
Toray Industries Inc.
UFP Technologies Inc.
Breakdown by type of material:
Breakdown by manufacturing process:
Resin Transfer Molding (RTM)
Breakdown by application:
Breakdown by regional information:
Middle East and Africa
Main highlights of the report:
Market Performance (2015-2020)
Market Outlook (2021-2026)
Porter’s Five Forces Analysis
Market drivers and success factors
Complete mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.
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