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Additionally, consumers are more inclined towards purchasing lightweight and fuel-efficient
vehicles due to increasing fuel prices over the last decade. This is influencing automakers to
invest in R&D initiatives with regard to lightweight materials to manufacture exterior as well
as interior parts of vehicles. Composites with properties such as easy to process, high tensile
strength, lightweight, good corrosion resistance and surface tension are ideal for
manufacturing lightweight and fuel-efficient vehicles.
Region-wise, the report covers North America, Europe, Asia-Pacific, and Rest of the World.
Asia-Pacific is the largest market for automotive composites. Increasing domestic production
of vehicles along with increasing disposable income is driving growth of the automotive
composites market in Asia Pacific. However, one of the major factors contributing to growth
In this report, the automotive composites market has been segmented on the basis of
composite material (polymer matrix composites, metal composites, and ceramic matrix
composites), manufacturing process (manual, compression, injection and continuous, and
other), composite component (interior components, exterior components, engine and
drivetrain components, and others) by value (US$ Mn), and region (North America, Europe,
Asia-Pacific, and Rest of the World).
The global automotive composites market revenue increased from US$ 3,062.7 Mn in 2012
to US$ 3,593.6 Mn in 2014 at a CAGR of 8.3%. Under regional segment, the Asia Pacific
automotive composites market (the largest market in 2014) revenue increased from US$
1,543.6 Mn in 2012 to US$ 1,825.5 Mn in 2014 at a CAGR of 8.7%.
The global automotive composites market is highly consolidated, with the top four players
Toray Industries, Toho Co. Ltd., Mitsubishi, and SGL accounting for between 70 and 75%
market share. Other players operating in the global automotive composites market include
Cytec Industries Inc., SAERTEX GmbH & Co. KG, Koninklijke Ten Cate N.V., Johns Manville,
Johnson Controls, Inc., Scott Bader Company Ltd., Teijin Limited, E.I. du Pont de Nemours and
Company, and UFP Technologies, Inc. The automotive composites market has been
segmented on the basis of the following:
By Composite Material
Metal Composites
Manual
Compression
Others
By Composite Component
Interior Components
Exterior Components
Others
By Region
North America
Europe
Asia Pacific
Market History:
Concerns over increasing carbon emissions have led various industries to undertake various initiatives for
environmental conservation. The automotive sector is one among the prominent sources of greenhouse
gas emissions globally. Owing to environment deterioration various governments have formulated
regulations or emission reduction targets. In order to achieve these targets, various automotive
companies are focusing towards improving the fuel efficiency of vehicles. Use of lightweight materials for
vehicle design or automotive weight reduction is the preferred strategy to improve the fuel economy of the
vehicle.
Advanced plastics, alloys,, and composites are some of the lightweight materials extensively utilized for
automotive designs in order to reduce the weight of the vehicle. Composites being durable, light weight,
Table of Content
Chapter 1 Preface 9
1.1 Report Description 9
1.2 Scope and Definition 9
1.2.1 Segments covered in the report 9
1.3 Research Methodology 10
Chapter 2 Market Synopsis 11
Chapter 3 Porters Five Forces Analysis 14
3.1 Bargaining Power of Suppliers 14
3.2 Bargaining Power of Buyers 15
3.3 Threat of New Entrants 15
3.4 Threat of Substitutes 16
3.5 Intensity of Rivalry 16
Chapter 4 Industry Overview 17
4.1 Introduction 17
4.2 Market Drivers 17
4.2.1 Rising demand for lightweight and fuel-efficient vehicles 17
4.2.2 Rising per capita vehicle ownership 18
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