Persistence Market Research Pvt. Ltd.

PMR Report- Automotive Composites Market Expected to Reach US$ 7,019.7 Million by 2022

Press Release   •   Feb 07, 2017 05:30 EST

According to latest market report published by Persistence Market Research “Global Market Study on Automotive Composites: Polymer Matrix Composites to be the Largest Segment by 2022”, the global automotive composites market was valued at US$ 3,062.7 Mn in 2014, which is expected to increase to US$ 7,019.7 Mn by 2022 at a CAGR of 8.8%.

A sample of this report is available upon request: www.persistencemarketresearch.com/samples/4368

Increasing urban population due to rising industrialization, particularly in developing countries such as India and China, is encouraging the establishment of automotive manufacturing facilities in these regions. Increasing automobile production is expected to fuel the overall demand for carbon composites in the near future. In 2014, 16.5 million vehicles were manufactured in the U.S., compared to 15.6 million in 2013. This number is expected to increase to 17.0 million by the end of 2015. In addition, increasing carbon emissions due to rising number of vehicles over the last few decades is prompting governments worldwide to revamp various aspects in order to adhere to environmental norms and regulations, particularly with emphasis on reduction of carbon emissions from vehicles. Automakers are focused towards using lightweight materials to manufacture external and internal parts of vehicles in order to reduce vehicle weight, and in turn improve fuel efficiency. This is a major factor driving growth of the automotive composites market.

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 of the automotive composites markets in North America and Europe is stringent CO2 emission norms in these regions.

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).

Request to view Table of Content: www.persistencemarketresearch.com/market-research/automot���

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%.

To Buy Full Report for a Single User: www.persistencemarketresearch.com/checkout/4368

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Contact Us

Persistence Market Research

305 Broadway

7th Floor, New York City, 

NY 10007, United States,

USA - Canada Toll Free: 800-961-0353

Email: sales@persistencemarketresearch.com

Web: http://www.persistencemarketresearch.com