Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Global Automotive Polymer Composites Market (2024 Edition): Analysis By Resin Type (Polyester, Polypropylene, Epoxy, Vinyl Ester, and Other Resins), By Application, By Vehicle Type, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Polymer Composites market showcased growth at a CAGR of 4.74% during 2020-2023. The market was valued at USD 9.43 Billion in 2023 which is expected to reach USD 14.15 Billion in 2030.
This research report provides a complete analysis for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030. The report analyses the Automotive Polymer Composites Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, United Kingdom, France, Italy, China, Japan, India, and South Korea).
The Automotive Polymer Composites market is operating within a dynamic landscape characterized by technological advancements, evolving consumer preferences, stringent regulatory requirements, and shifting industry dynamics. Polymer composites, consisting of materials like polyester, polypropylene, epoxy, and vinyl ester resins, play a pivotal role in the automotive sector due to their lightweight nature, high strength-to-weight ratio, corrosion resistance, and design flexibility. These properties make polymer composites ideal for various automotive applications, including interior components, exterior panels, structural elements, and powertrain components.
One of the key drivers fueling the growth of the Automotive Polymer Composites market is the automotive industry's increasing focus on lightweighting to improve fuel efficiency, reduce emissions, and enhance vehicle performance. With stringent emissions regulations in place worldwide, automakers are turning to polymer composites as a viable solution to achieve weight reduction without compromising on safety or structural integrity. Additionally, the rise of electric and hybrid vehicles has further propelled the demand for lightweight materials like polymer composites to optimize battery range and efficiency.
Moreover, consumer preferences for stylish, technologically advanced vehicle interiors and aesthetically pleasing exterior designs have contributed to the growing adoption of polymer composites in the automotive sector. These materials offer design flexibility, allowing automakers to create innovative and customizable interiors while meeting durability and quality standards. Furthermore, advancements in manufacturing technologies have made polymer composites more cost-effective and scalable, driving their widespread adoption across the automotive value chain.
Furthermore, the Automotive Polymer Composites market is witnessing growth opportunities in emerging markets such as Asia Pacific, where rapid urbanization, infrastructure development, and increasing disposable incomes are driving automotive sales. Government initiatives promoting environmental sustainability and energy efficiency are also stimulating demand for lightweight materials like polymer composites in these regions.
Scope of the Report
- The report analyses the Automotive Polymer Composites Market by Value (USD Billion).
- The report analyses the Automotive Polymer Composites Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, United Kingdom, France, Italy, China, Japan, India, and South Korea).
- The report presents the analysis of Automotive Polymer Composites Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Automotive Polymer Composites Market By Resin Type (Polyester, Polypropylene, Epoxy, Vinyl Ester, and Other Resins)
- The report analyses the Automotive Polymer Composites Market By Application (Interior Components, Exterior Components, Structural Components, and Powertrain Components)
- The report analyses the Automotive Polymer Composites Market By Vehicle Type (Passenger, and Commercial)
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Resin Type, By Application & By Vehicle Type.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Focus on Electric and Autonomous Vehicles
- Enhanced Accessibility and Inclusivity
Competitive Positioning
- Companies' Service Positioning
- Market Position Matrix
Market Share Analysis of Automotive Polymer Composites Market
- Company Profiles
- Hexcel Corporation
- Toray Industries, Inc.
- SGL Carbon SE
- Owens Corning
- BASF SE
- Plasan
- GKN Ltd
- Teijin Limited
- Solvay NV/SA
- Gurit Holding AG
For more information about this report visit https://www.researchandmarkets.com/r/8tc0d8
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