Skip to main content

Automotive Composite Materials Market Assessment Covering Growth Factors and Upcoming Trends (2019-2025)


Asia-Pacific Automotive Composite Material Market was valued at US$ 2,355.9 Million in 2018 and is anticipated to reach US$ 4,535.6 Million by 2025 displaying a reasonable CAGR of 9.93% over the forecast period (2019-2025). Composite materials are homogenous mixtures that are prepared by synthetically assembling two materials together. One of these is fiber, reinforcing the material and the other one is a binding material called Matrix. The composite materials have high electrical and corrosion resistance, are stiff and have high strength-to-weight ratios. The Asia Pacific is the largest car manufacturing hub across the globe. In the past few years, the GDP of Asian countries has increased substantially, resulting in the rise of per capita income and buying potential of the consumers. In other words, the improved economy of Asian countries is one of the major reasons for the increase in demand for vehicles in the region, which has resulted in a high demand for automotive composite materials as well. The worsening air quality in Asia-Pacific has concerned the governmental bodies, owing to which stringent emission standards have been passed in some countries and are under consideration in a few others. The growing number of vehicles in the region has deteriorated the air quality, with immense Greenhouse Gases (GHG) emissions. Some of the Asian countries such as China, India, and Japan are among the top GHG emitters holding 30%, 7% and 4% of the global GHG emissions. Moreover, Asia-Pacific is the largest market for Electric Vehicles (EVS) and the growing demand for composite materials in EVs to offset the weight increased by the batteries is also bolstering the market growth.

Request for Sample of the report - https://univdatos.com/request_form/form/194

“Polymer Matrix Composite is expected to dominate during the analyzed period.”

The Asia-Pacific automotive composites material market is segmented based on different materials such as Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite. Due to high flexibility, high insulation, lower density and lighter weight than other composite materials, PMCs held the maximum market share in 2018 and their dominance is expected to prevail during the forecast period. However, due to the low cost and high flexural and tensile strength of hybrid composites as compared to single fiber composites, the hybrid composites are anticipated to be the fastest-growing polymer type during the forecast period.

“Thermoset held the largest market share in 2018 and is expected to dominate the market in 2025.”

The study further bifurcates the PMCs by matrix types, which include thermosets and thermoplastics. wherein thermoset held the largest market share in 2018 and is expected to dominate the market by 2025. However, thermoplastic is expected to register the highest growth during the forecast period as they are compact and wireless

“Amongst Manufacturing Process, Injection molding is projected to hold the largest market share and will dominate the Asia-Pacific automotive composite material market by 2025.”

The Asia-pacific automotive composite market is further fragmented across different manufacturing processes. This includes hand lay-up, compression molding, injection molding, and resin transfer molding (RTM). Injection molding process dominated the market in 2018 and is expected to continue its dominance over the forecast period (2018-2025), owing to the RTM’s capability of low cost and high-volume manufacturing

 “Amongst applications, the exterior segment is anticipated to dominate the Asia-Pacific automotive composite material market by 2025.”

Based on several application areas in automobiles, Asia Pacific automotive composite materials market is segmented into the interior, exterior, chassis, powertrain & under the hood and structural. Among different application areas, an exterior segment dominated the market however a gradual increase in the adoption rate of composite materials for vehicle interiors is expected in the upcoming years

Browse Asia-Pacific Automotive Composite Materials Market Complete Report with TOC - https://univdatos.com/report/asia-pacific-market-insights-on-automotive-composite-materials-insights-and-forecast-2019-2025
 
“Amongst vehicle type, passenger cars hold the major share in Asia-Pacific automotive composite material market.”

Based on different vehicle types, the Asian automotive composite materials market is segmented into performance cars, passenger cars and others (commercial vehicles and others). Asian passenger car market is the world's largest auto market, while the growing demand of composites in EVs and other passenger cars gives it a definitive edge over other markets. Passenger car segment was valued at US$ 2,242.8 million in 2018

“China represents one of the largest markets of the Asia-Pacific automotive composite material market.”

For a deep-dive analysis of the industry Asian automotive composite materials market is further segmented across different countries, which includes, China, Japan, India, South Korea, Singapore, Australia and rest of APAC. China dominated the market in 2018 and is expected to prevail over the others during the forecast period. China is the world’s largest automobile producer, and stringent emission regulations and the presence of local composite materials suppliers are attributed to be the major factors monitoring China’s automotive composite materials market.

Feel free to contact us for any queries - https://univdatos.com/request_form/form/194

Competitive Landscape -Top 10 Market Players

BASF SE, DowDupont Inc., Gurit Holding AG, Magna International Inc., Mitsubishi Chemical Holdings Corporation, Owens Corning, SGL Group, Solvay SA, Teijin Limited and Toray Industries Inc. are some of the prominent players operating in the Automotive Composites market industry. 

Some of the key players are also expanding their businesses by setting up new plants or increasing their expenditure on R&D to develop cheaper manufacturing methods. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and 
innovative products.

UnivDatos Market Insights (UMI) understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Asia-Pacific Automotive Composites Market can be customized to the country level or any other market segment.

UnivDatos Market Insights (UMI) Latest Research Report –



Two Wheeler Market Share in India 2020

 UnivDatos Market Insights (UMI)
Email: sales@univdatos.com
Web: www.univdatos.com

Labels:
Location: Asia

Comments

Post a Comment

Popular posts from this blog

Offshore Hydropower Market: Analysis by Size, Share, Growth, Trends & Forecast 2030

  Harnessing the Ocean's Power: Offshore Hydropower Market Poised for Growth The offshore hydropower market is experiencing a surge, projected to reach a value of USD 6.2 billion by 2030 at a CAGR of 7.5%. This growth is driven by a global push for clean energy solutions: Combating Climate Change: Fossil fuels are a major culprit behind climate change. Offshore hydropower offers a clean alternative with minimal carbon footprint during operation. Sustainable Energy Future: By harnessing the vast power of the ocean tides and waves, this technology can play a crucial role in a sustainable energy future. Limited Freshwater Resources: Traditional hydropower dams are geographically restricted. Offshore hydropower offers a solution for island nations and countries with limited freshwater resources. Unlock Insights: Receive a Sample Research Report on the Offshore Hydropower Market: https://univdatos.com/get-a-free-sample-form-p...
Post a Comment
Read more

Renewable Energy Certificate Market: Analysis by Size, Share, Growth, Trends & Forecast 2030

  Renewable Energy Certificates: Powering a Sustainable Future The Renewable Energy Certificate (REC) market is surging, expected to reach a value of USD 87.2 billion by 2030 at a CAGR of 26.39%. This growth is fueled by a global shift towards clean energy: Government Policies: Governments worldwide are implementing policies and incentives to promote renewable energy and RECs as a way to achieve sustainability goals. Climate Change Concerns: Growing awareness of climate change is driving demand for cleaner energy sources and RECs as a way to offset carbon footprints. Technological Advancements: Advances in renewable energy technology have made it more cost-effective, reducing REC prices and making them a viable option for businesses and consumers. Sustainability-Conscious Consumers: Consumers are increasingly seeking products and services that align with their eco-friendly values, boosting the voluntary REC mar...
Post a Comment
Read more

Infant Formula Ingredients Market: Analysis by Size, Share, Growth, Trends & Forecast 2027

  Booming Baby Food Market: Infant Formula Ingredients on the Rise! The infant formula ingredients market is on a healthy trajectory, expected to reach a value of USD 42.3 billion by 2030, with a growth rate of around 8.6%. This surge is driven by several factors: Heightened awareness of infant health: Parents are increasingly prioritizing the well-being of their babies, leading to a demand for high-quality infant formula ingredients. Innovation for gold-standard nutrition: Manufacturers are constantly developing new ingredients that mimic breast milk's properties, like Bunge Loders Croklaan's Betapol Select lipid ingredient. Growing toddler formula market: Brands like Danone Nutricia are catering to toddlers with specialized formulas made with unique ingredients like sheep milk. Unlock Insights: Receive a Sample Research Report on the Infant Formula Ingredients Market: https://univdatos.com/get-a-free-sample-form-ph...
Post a Comment
Read more