Report Code: A00752 | Pages: NA | Jul 2023 | 4990 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
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Request Now !Composite materials are materials composed of two or more fibers and polymers. These materials enhance the efficiency of vehicle by reducing its overall weight. Composite materials reduce emission of greenhouse gases and fuel consumption. Vehicles manufactured using composite materials absorbs huge amount of energy in crash, which in turn, provide more safety to passengers. It plays significant role in providing better driving experience and greater power to engine. The government regulations to keep vehicle under emission limits has increased necessity of composite materials.
Favorable government regulations pertaining to fuel efficiency & emissions and reduced delta factor (process time, cost, & quality) fuels growth of the world composite materials market. However, high cost of composite materials is obstructing the growth of the market. Shifting focus toward electric vehicles and emerging markets in South-East Asia are creating tremendous opportunities for growth.
The world composite materials market is segmented based on material type, application & their sub-components, vehicle type, and geography. The material type segment is further classified based on PMC, MMC, and CMC. Application & their sub-components covered in the report are structural, powertrain, interior, exterior, and other applications. The market is further classified on the basis of vehicle type into PC, LCV, HCV, and rolling stock. The market is classified geographically into North America, Europe, Asia-Oceania, and Latin America, Middle East and Africa (LAMEA).
The prominent market players are Toray Industries Inc., Cytec Industries Inc., SGL Carbon SE, Teijin Ltd., Koninklijke Ten Cate NV, Johns Manville, Mitsubishi Rayon Co. Ltd., Owens Corning, Johnson Controls Inc., and Jushi Group Co. Ltd. Some of the strategies adopted by these market players to gain strong foothold in the market are partnerships, collaborations, mergers & acquisitions, expansions, joint ventures, and others.
Composite Materials Market Report Highlights
Aspects | Details |
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By Material |
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By Application & Their Sub-Components |
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By Region |
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Key Market Players | Toray Industries Inc., Johns Manville, Owens Corning, Mitsubishi Rayon Co. Ltd., Jushi Group Co. Ltd, Koninklijke Ten Cate NV, Cytec Industries Inc., Johnson Controls Inc., SGL Carbon SE, Teijin Ltd. |
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