The Automotive Composites Market is Estimated to Reach a Market Size Worth US$9.768 Billion by 2027

DALLAS - Jan. 19, 2023 - PRLog -- Knowledge Sourcing Intelligence announces the publication of a new analysis report based on the "Automotive Composites Market - which is analysed from 2020 to 2027".

One of the prime factors driving the growth of Automotive Composites is the growing adoption of electronic vehicles, as they would allow for higher prices of weight saved per kilo in vehicle weight reduction measures.

As per the report, the market for Automotive Composites Market (https://www.knowledge-sourcing.com/report/automotive-composites-market) is expected to grow at a steady pace.

These automotive composites are desirable materials due to their shape retention, corrosion resistance for performance in dry and wet situations, low coefficient of thermal expansion, the convenience of manufacturing, and low weight to reduce overall vehicle mass. Owing to their outstanding dimensional stability, these materials have become more prevalent in the automotive industry in recent times. They are employed for numerous interior and exterior applications in vehicles because they are favoured materials for weight reduction in autos.

Based on fiber type, the Automotive Composites Market offers polymer matrix, glass fiber, natural fiber, carbon fiber, ceramic matrix and metal matrix. Glass fiber composites are expected to hold a substantial share in the market and dominate as they are very widely employed in the automotive industry due to their features such as high stiffness, flexibility, strength and chemical resistance.

Based on application, the Automotive Composites Market is segmented into the exterior, interior, structural, chassis and powertrain and Others. Exterior applications in automobiles for automotive composites include heat shielding components, headlamps, and many more and this segment is expected to grow at a significant CAGR during the analyzed period.

Based on geography segmentation, the Automotive Composites Market is segmented into North America, Europe, South America, the Middle East and Africa, and Asia Pacific regions. Geographically, the Asia Pacific region is likely to account for the dominant market share and to experience quick expansion due to the presence of the highest number of automobiles in the region, especially in countries like India, China, and Thailand. Further, India, China, Indonesia and Thailand are expected to have the greatest number of cars, as well as the largest markets for four-wheelers, which is projected to boost the expansion of the market.

As a part of the report, the major players operating in the Automotive Composites market have been covered. The key players in the Automotive Composites Market include Toray Industries, Solvay, Owens Corning, John Manville, BASF SE, Teijin Ltd, Mitsubishi Chemical Corporation, SGL Carbon (https://www.sglcarbon.com/en/), UFP Technologies Inc, and Sabic.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/automotive-composites-market