Automotive Composite Materials Market: Insights and Forecast (2018-2024)

$3500$6860

Emphasis on Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic Matrix Composites and Hybrid Composites), Manufacturing Process (Hand Lay up, Compression Molding, Injection Molding, Resin Transfer Molding)- Insights and Forecast, 2018-2024

Published:

Sep-2018

Pages:

279

Table:

38

Figure:

233

Report ID:

UMAU18107

Geography:

Clear
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Report Description
Table of content
Research Methodology

Report Description

Composite materials are homogenous mixtures which are prepared by synthetically assembling two materials together. One of these is fiber, a reinforcing 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 use of composite materials among automobiles reduces the overall weight of the vehicle, improves the fuel efficiency, reduces GHG emissions, improves safety, increases crashworthiness and offers a smooth finish with exceptional aerodynamic design. Besides these advantages, composite materials offer other benefits as well, owing to which they have been widely adopted in the auto industry. Further, the growing concerns for GHG emissions by vehicles and the regulatory framework on it are also propelling the use of composites in the auto industry. Legislative bodies are not only issuing regulations, but also offering certain relaxation and subsidies to the green vehicle owners. In addition, there is a visible increase in the demand of composite materials for electric vehicles. Composite materials are used in EVs to offset the weight increased using batteries. Due to this, the inclination of the auto OEMs toward the use of composite materials in their models has also taken a jump. Subsequently, OEMs are entering into certain competitive strategies with the composite material manufacturers and distributors to strengthen their foothold in the industry. Owing to the above, the global automotive composite materials market is expected to reach $8.17 billion by 2024. However, the growing automotive composites market faces certain market challenges such as the high production cost of the composites and lack of advancement in manufacturing techniques in emerging countries. In spite of this, the growing popularity of the hybrid composite materials, increasing relationships between automotive OEMs and material suppliers and scope of growth in developing countries are considered to be the key opportunity areas in this market.

Insights Presented in the Report:

The global 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. Currently, PMCs are the most popular composite type among the automakers, as they have high flexibility, high insulation, lower density and lighter weight than other composite materials type.
Global automotive composites market is further segmented based on different manufacturing processes for the composite materials. This includes the following: Hand Lay Up, Compression Molding, Injection Molding, and Resin Transfer Molding (RTM). Injection Molding dominated the market in 2017 with a market value of $1.98 billion.
Based on several application areas, the global automotive composite materials market is segmented into Interior, Exterior, Chassis, and Powertrain & under the hood and Structural. Among different application areas, exterior segment dominated and the market, however because of stringent regulations on vehicle interior air quality, the demand of composites for vehicles interiors is expected to bolster during the forecast period.
The global automotive composite materials market is further segmented on the basis of different vehicle types, such as performance cars, passenger cars and other. Passenger cars segment dominated the automotive composites market in 2017, and is expected to dominate the market during the forecast period. The highest market value of passenger cars among the vehicle segment is attributed to the growing adoption of composites in light vehicles.
For better understanding of the market penetration of Global Automotive Composite Materials Market, the industry is analyzed based on geographies and countries including North America (the U.S., Canada, Mexico and rest of North America), Europe (Germany, France, the U.K., Russia, Italy, Spain and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Australia and rest of Asia-Pacific), Middle East and Africa (the UAE, Saudi Arabia, Algeria, Kuwait, Egypt, Qatar and rest of Middle East and Africa) and Latin America (Brazil, Argentina, Chile and Rest of Latin America). Due to the strong presence of several composite material manufacturers in countries such as China, Japan and India. Asia Pacific regions held the highest market share and was valued at $2.16 billion in 2017. Further, the stringent rules and regulations on GHG emissions in North America and Europe are anticipated to fuel the automotive composite market in both the regions.
Top Companies in the Composites Market

The major companies that are profiled in the study are 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. These industry players are entering into partnerships with auto OEMs to deploy cost efficient composite materials on the vehicles. 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.

Reasons to buy the Report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts
The report presents a quick review of overall industry performance at one glance
The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
Examination of industry attractiveness with the help of Porter’s Five Forces analysis
The study comprehensively covers the market across different segments
Deep dive regional level analysis of the industry
Customization Options:

The Global Automotive Composites Market can be customized to regional/country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.

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 1.1Market Definition        
 1.2Objective of the Study        
 1.3Limitation         
 1.4Stakeholders        
 1.5Currency used in the Report
 2.1Secondary Data        
  2.1.1Key Secondary Sources       
 2.2Primary Data        
  2.2.1Sampling Techniques & Data Collection Methods    
  2.2.2Primary Participants
 5.1Market Dynamics        
  5.1.1Market Trends & Drivers      
   5.1.1.1Stringent Government Regulations on GHG emission   
   5.1.1.2Increasing Demand of Composites among Hybrid and Electric Vehicles 
   5.1.1.3Superior Structural and Mechanical Properties   
  5.1.2Market Restraints       
   5.1.2.1High Cost of the Raw Materials     
   5.1.2.2Lack of Innovation and Advancements in Emerging Countries  
  5.1.3Opportunities       
   5.1.3.1Growing Scope of Hybrid Composite Materials   
   5.1.3.2Increase in partnerships Between OEMs and Composite Manufacturers 
   5.1.3.3Growing Scope in Developing Countries
 7.1General Overview        
 7.2Polymer Matrix Composite (PMC)       
  7.2.1Thermoset Matrix       
  7.2.2Thermoplastic Matrix       
 7.3Metal Matrix Composite (MMC)       
 7.4Ceramic Matrix Composite (CMC)       
 7.5Hybrid Composites
 8.1General Overview        
 8.2Hand Lay up        
 8.3Compression Molding        
 8.4Injection Molding        
 8.5Resin Transfer Molding
 9.1General Overview        
 9.2Interior         
 9.3Exterior         
 9.4Chassis, Powertrain and Under the Hood      
 9.5Structural
 10.1Overview         
 10.2Performance Cars        
 10.3Passenger Cars        
 10.4Others (Light Commercial Vehicles, Buses, Trucks and Others)
 11.1General Overview        
 11.2North America Automotive Composite Materials Market     
  11.1.1North America Automotive Composite Materials Market, by Material Type  
  11.1.2North America Automotive Composite Market, by Manufacturing Process  
  11.1.3North America Automotive Composite Materials market, by Application  
  11.1.4North America Automotive Composite Materials Market, by Vehicle Type  
  11.1.5North America Automotive Composite Materials Market, by Country  
   11.1.5.1United States Automotive Composite Materials Market  
    11.1.5.1.1United States Automotive Composite Market, by Material Type
    11.1.5.1.2United States Automotive Composite Market, by Manufacturing Process
    11.1.5.1.3United States Automotive Composite Market, by Application 
    11.1.5.1.4United States Automotive Composite Market, by Vehicle Type
   11.1.5.2Canada Automotive Composite Materials Market   
    11.1.5.2.1Canada Automotive Composite Market, by Material Type 
    11.1.5.2.2Canada Automotive Composite Market, by Manufacturing Process
    11.1.5.2.3Canada Automotive Composite Market, by Application 
    11.1.5.2.4Canada Automotive Composite Market, by Vehicle Type 
   11.1.5.3Mexico Automotive Composite Materials Market   
    11.1.5.3.1Mexico Automotive Composite Market, by Material Type 
    11.1.5.3.2Mexico Automotive Composite Market, by Manufacturing Process
    11.1.5.3.3Mexico Automotive Composite Market, by Application 
    11.1.5.3.4Mexico Automotive Composite Market, by Vehicle Type 
   11.1.5.4Rest of NA Automotive Composite Materials Market   
    11.1.5.4.1Rest of NA Automotive Composite Market, by Material Type 
    11.1.5.4.2Rest of NA Automotive Composite Market, by Manufacturing Process
    11.1.5.4.3Rest of NA Automotive Composite Market, by Application 
    11.1.5.4.4Rest of NA Automotive Composite Market, by Vehicle Type 
 11.3Europe Automotive Composite Materials Market     
  11.3.1Europe Automotive Composite Materials market, by Material Type  
  11.3.2Europe Automotive Composite Market, by Manufacturing Process   
  11.3.3Europe Automotive Composite Materials market, by Application   
  11.3.4Europe Automotive Composite Materials market, by Vehicle Type   
  11.3.5Europe Automotive Composite Materials Market, by Country   
   11.3.5.1Germany Automotive Composite Materials Market   
    11.3.5.1.1Germany Automotive Composite Market, by Material Type 
    11.3.5.1.2Germany Automotive Composite market, by Manufacturing Process
    11.3.5.1.3Germany Automotive Composite market, by Application 
    11.3.5.1.4Germany Automotive Composite market, by Vehicle Type 
   11.3.5.2France Automotive Composite Materials Market   
    11.3.5.2.1France Automotive Composite Market, by Material Type 
    11.3.5.2.2France Automotive Composite Market, by Manufacturing Process
    11.3.5.2.3France Automotive Composite Market, by Application 
    11.3.5.2.4France Automotive Composite Market, by Vehicle Type 
   11.3.5.3The U.K. Automotive Composite Materials Market   
    11.3.5.3.1The U.K. Automotive Composite Market, by Material Type 
    11.3.5.3.2The U.K. Automotive Composite Market, by Manufacturing Process
    11.3.5.3.3The U.K. Automotive Composite Market, by Application 
    11.3.5.3.4The U.K. Automotive Composite Market, by Vehicle Type 
   11.3.5.4Spain Automotive Composite Materials Market   
    11.3.5.4.1Spain Automotive Composite Market, by Material Type 
    11.3.5.4.2Spain Automotive Composite Market, by Manufacturing Process
    11.3.5.4.3Spain Automotive Composite Market, by Application 
    11.3.5.4.4Spain Automotive Composite Market, by Vehicle Type 
   11.3.5.5Russia Automotive Composite Materials Market   
    11.3.5.5.1Russia Automotive Composite Market, by Material Type 
    11.3.5.5.2Russia Automotive Composite Market, by Manufacturing Process
    11.3.5.5.3Russia Automotive Composite Market, by Application 
    11.3.5.5.4Russia Automotive Composite Market, by Vehicle Type 
   11.3.5.6Italy Automotive Composite Materials Market   
    11.3.5.6.1Italy Automotive Composite Market, by Material Type 
    11.3.5.6.2Italy Automotive Composite Market, by Manufacturing Process
    11.3.5.6.3Italy Automotive Composite market, by Application 
    11.3.5.6.4Italy Automotive Composite Market, by Vehicle Type 
   11.3.5.7Rest of Europe Automotive Composite Materials Market  
    11.3.5.7.1Rest of Europe Automotive Composite Market, by Material Type
    11.3.5.7.2Rest of Euro Automotive Composite Market, by Manufacturing Process
    11.3.5.7.3Rest of Euro Automotive Composite Market, by Application 
    11.3.5.7.4Rest of Europe Automotive Composite Market, by Vehicle Type
 11.4Asia-Pacific Automotive Composite Materials Market     
  11.4.1APAC Automotive Composite Materials Market, by Material Type   
  11.4.2APAC Automotive Composite Market, by Manufacturing Process   
  11.4.3APAC Automotive Composite Materials market, by Application   
  11.4.4APAC Automotive Composite Materials Market, by Vehicle Type   
  11.4.5APAC Automotive Composite Materials Market, by Country   
   11.4.5.1China Automotive Composite Materials Market   
    11.4.5.1.1China Automotive Composite Market, by Material Type 
    11.4.5.1.2China Automotive Composite Market, by Manufacturing Process
    11.4.5.1.3China Automotive Composite Market, by Application 
    11.4.5.1.4China Automotive Composite Market, by Vehicle Type 
   11.4.5.2Japan Automotive Composite Materials Market   
    11.4.5.2.1Japan Automotive Composite Market, by Material Type 
    11.4.5.2.2Japan Automotive Composite Market, by Manufacturing Process
    11.4.5.2.3Japan Automotive Composite Market, by Application 
    11.4.5.2.4Japan Automotive Composite Market, by Vehicle Type 
   11.4.5.3India Automotive Composite Materials Market   
    11.4.5.3.1India Automotive Composite Market, by Material Type 
    11.4.5.3.2India Automotive Composite Market, by Manufacturing Process
    11.4.5.3.3India Automotive Composite Market, by Application 
    11.4.5.3.4India Automotive Composite Market, by Vehicle Type 
   11.4.5.4Singapore Automotive Composite Materials Market   
    11.4.5.4.1Singapore Automotive Composite Market, by Material Type 
    11.4.5.4.2Singapore Automotive Composite Market, by Manufacturing Process
    11.4.5.4.3Singapore Automotive Composite Market, by Application 
    11.4.5.4.4Singapore Automotive Composite Market, by Vehicle Type 
   11.4.5.5South Korea Automotive Composite Materials Market  
    11.4.5.5.1South Korea Automotive Composite Market, by Material Type 
    11.4.5.5.2South Korea Automotive Composite Market, by Manufacturing Process
    11.4.5.5.3South Korea Automotive Composite Market, by Application 
    11.4.5.5.4South Korea Automotive Composite Market, by Vehicle Type 
   11.4.5.6Australia Automotive Composite Materials Market   
    11.4.5.6.1Australia Automotive Composite Market, by Material Type 
    11.4.5.6.2Australia Automotive Composite Market, by Manufacturing Process
    11.4.5.6.3Australia Automotive Composite Market, by Application 
    11.4.5.6.4Australia Automotive Composite Market, by Vehicle Type 
   11.4.5.7Rest of Asia-Pacific Automotive Composite Materials Market  
    11.4.5.7.1Rest of APAC Automotive Composite Market, by Material Type
    11.4.5.7.2Rest of APAC Automotive Composite Market, by Manufacturing Process
    11.4.5.7.3Rest of APAC Automotive Composite Market, by Application 
    11.4.5.7.4Rest of APAC Automotive Composite Market, by Vehicle Type 
 11.5Middle East & Africa Automotive Composite Materials Market    
  11.5.1MENA Automotive Composite Materials Market, by Material Type   
  11.5.2MENA Automotive Composite Market, by Manufacturing Process   
  11.5.3MENA Automotive Composite Materials Market, by Application   
  11.5.4MENA Automotive Composite Materials Market, by Vehicle Type   
  11.5.5MENA Automotive Composite Materials Market, by Country   
   11.5.5.1The United Arab Emirates Automotive Composite Materials Market 
    11.5.5.1.1The UAE Automotive Composite Market, by Material Type 
    11.5.5.1.2The UAE Automotive Composite Market, by Manufacturing Process
    11.5.5.1.3The UAE Automotive Composite Market, by Application 
    11.5.5.1.4The UAE Automotive Composite Market, by Vehicle Type 
   11.5.5.2Saudi Arabia Automotive Composite Materials Market  
    11.5.5.2.1KSA Automotive Composite Market, by Material Type 
    11.5.5.2.2KSA Automotive Composite Market, by Manufacturing Process
    11.5.5.2.3KSA Automotive Composite Market, by Application  
    11.5.5.2.4KSA Automotive Composite Market, by Vehicle Type 
   11.5.5.3Algeria Automotive Composite Materials Market   
    11.5.5.3.1Algeria Automotive Composite Market, by Material Type 
    11.5.5.3.2Algeria Automotive Composite Market, by Manufacturing Process
    11.5.5.3.3Algeria Automotive Composite Market, by Application 
    11.5.5.3.4Algeria Automotive Composite Market, by Vehicle Type 
   11.5.5.4Kuwait Automotive Composite Materials Market   
    11.5.5.4.1Kuwait Automotive Composite Market, by Material Type 
    11.5.5.4.2Kuwait Automotive Composite Market, by Manufacturing Process
    11.5.5.4.3Kuwait Automotive Composite Market, by Application 
    11.5.5.4.4Kuwait Automotive Composite Market, by Vehicle Type 
   11.5.5.5Egypt Automotive Composite Materials Market   
    11.5.5.5.1Egypt Automotive Composite Market, by Material Type 
    11.5.5.5.2Egypt Automotive Composite Market, by Manufacturing Process
    11.5.5.5.3Egypt Automotive Composite Market, by Application 
    11.5.5.5.4Egypt Automotive Composite Market, by Vehicle Type 
   11.5.5.6Qatar Automotive Composite Materials Market   
    11.5.5.6.1Qatar Automotive Composite Market, by Material Type 
    11.5.5.6.2Qatar Automotive Composite Market, by Manufacturing Process
    11.5.5.6.3Qatar Automotive Composite Market, by Application 
    11.5.5.6.4Qatar Automotive Composite Market, by Vehicle Type 
   11.5.5.7Rest of MENA Automotive Composite Materials Market, by Material Type 
    11.5.5.7.1Rest of MENA Automotive Composite Market, by Material Type
    11.5.5.7.2Rest of MENA Automotive Composite market, by Manufacturing Process
    11.5.5.7.3Rest of MENA Automotive Composite Market, by Application 
    11.5.5.7.4Rest of MENA Automotive Composite market, by Vehicle Type
 11.6Latin America Automotive Composite Materials Market     
  11.6.1Latin America Automotive Composite Materials Market, by Material Type  
  11.6.2Latin America Automotive Composite Market, by Manufacturing Process  
  11.6.3Latin America Automotive Composite Materials Market, by Application  
  11.6.4Latin America Automotive Composite Materials Market, by Vehicle Type  
  11.6.5Latin America Automotive Composite Materials Market, by Country  
   11.6.5.1Brazil Automotive Composite Materials Market   
    11.6.5.1.1Brazil Automotive Composite Market, by Material Type 
    11.6.5.1.2Brazil Automotive Composite Market, by Manufacturing Process
    11.6.5.1.3Brazil Automotive Composite Market, by Application 
    11.6.5.1.4Brazil Automotive Composite Market, by Vehicle Type 
   11.6.5.2Argentina Automotive Composite Materials Market   
    11.6.5.2.1Argentina Automotive Composite Market, by Material Type 
    11.6.5.2.2Argentina Automotive Composite Market, by Manufacturing Process
    11.6.5.2.3Argentina Automotive Composite Market, by Application 
    11.6.5.2.4Argentina Automotive Composite Market, by Vehicle Type 
   11.6.5.3Chile Automotive Composite Materials Market   
    11.6.5.3.1Chile Automotive Composite Market, by Material Type 
    11.6.5.3.2Chile Automotive Composite Market, by Manufacturing Process
    11.6.5.3.3Chile Automotive Composite Market, by Application 
    11.6.5.3.4Chile Automotive Composite Market, by Vehicle Type 
   11.6.5.4Rest of Latin America Automotive Composite Materials Market  
    11.6.5.4.1Rest of LATAM Automotive Composite Market, by Material Type
    11.6.5.4.2Rest of LATAM Automotive Composite Market, by Manufacturing Process
    11.6.5.4.3Rest of LATAM Automotive Composite Market, by Application 
    11.6.5.4.4Rest of LATAM Automotive Composite Market, by Vehicle Type
 12.1Porter’s Five forces analysis       
  12.1.1Bargaining Power of Suppliers      
  12.1.2Bargaining Power of Buyers      
  12.1.3Threat of New Entrants       
  12.1.4Threat of Substitutes       
  12.1.5Intensity of Rivalry       
 12.2Global Automotive Composite Materials Market Share of Major Players, 2017

 13.1BASF SE           13.1.1Key Facts          13.1.2Business Description         13.1.3Key Product/Services Offerings        13.1.4SWOT Analysis         13.1.5Key Financials          13.1.5.1Revenue Split, by Region        13.1.5.2Revenue Split, by Business Segment      13.1.6Recent Developments        13.2DowDuPont Inc.          13.2.1Key Facts          13.2.2Business Description         13.2.3Key Product/Services Offerings        13.2.4SWOT Analysis         13.2.5Key Financials          13.2.5.1Revenue Split, by Region        13.2.5.2Revenue Split, by Business Segment      13.2.6Recent developments        13.3Gurit Holding AG          13.3.1Key Facts          13.3.2Business Description         13.3.3Key Product/Services Offerings        13.3.4SWOT Analysis         13.3.5Key Financials          13.3.5.1Revenue Split, by Region        13.3.5.2Revenue Split, by Business Segment      13.3.6Recent developments        13.4Magna International Inc.         13.4.1Key Facts          13.4.2Business Description         13.4.3Key Product/Services Offerings        13.4.4SWOT Analysis         13.4.5Key Financials          13.4.5.1Revenue Split, by Region        13.4.5.2Revenue Split, by Business Segment      13.4.6Recent developments        13.5Mitsubishi Chemical Holdings Corporation        13.5.1Key Facts          13.5.2Business Description         13.5.3Key Product/Services Offerings        13.5.4SWOT Analysis         13.5.5Key Financials          13.5.5.1Revenue Split, by Region        13.5.5.2Revenue Split, by Business Segment      13.5.6Recent developments        13.6Owens Corning          13.6.1Key Facts          13.6.2Business Description         13.6.3Key Product/Services Offerings        13.6.4SWOT Analysis         13.6.5Key Financials          13.6.5.1Revenue Split, by Region        13.6.5.2Revenue Split, by Business Segment      13.6.6Recent developments        13.7SGL Group           13.7.1Key Facts          13.7.2Business Description         13.7.3SWOT Analysis         13.7.4Key Financials          13.7.4.1Revenue Split, by Region        13.7.4.2Revenue Split, by Business Segment       13.7.4.3Revenue of CFM, by Industry        13.7.4.4Revenue of GMS, by Industry       13.7.5Recent developments        13.8Solvay SA           13.8.1Key Facts          13.8.2Business Description         13.8.3Key Product/Services Offerings        13.8.4SWOT Analysis         13.8.5Key Financials          13.8.5.1Revenue Split, by Region        13.8.5.2Revenue Split, by Business Segment      13.8.6Recent developments        13.9Teijin Limited          13.9.1Key Facts          13.9.2Business Description         13.9.3Key Product/Services Offerings        13.9.4SWOT Analysis         13.9.5Key Financials          13.9.5.1Revenue Split, by Region        13.9.5.2Revenue Split, by Business Segment      13.9.6Recent developments        13.1Toray Industries Inc.          13.10.1Key Facts          13.10.2Business Description         13.10.3Key Product/Services Offerings        13.10.4SWOT Analysis         13.10.5Key Financials          13.10.5.1Revenue Split, by Region        13.10.5.2Revenue Split, by Business Segment      13.10.6Recent developments       

Research Methodology

Analysing historical market, estimation of the current market and forecasting the future market for Global automotive composite materials were the three major steps considered while creating and analysing the overall adoption rate of automotive composite materials in major region/country globally. Exhaustive secondary research was done to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the global automotive composite materials market. After all the assumption, market sizing and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of the global automotive composite materials market. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the global automotive composite materials market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures etc. and external sources including trade journals, news articles, government publications, International Organization of Motor Vehicle Manufacturers, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications.

Step 2: Market Segmentation:

After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market insights and share for different segments & sub-segments of the Global Automotive Composite Materials market. Major segments included in the report are material type, manufacturing process, application, and vehicle types.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the Global automotive composite materials market. Factor analysis was conducted using dependent and independent variable such as purchasing power, government initiatives, government regulations in major region/country globally. Historical trends of the automotive composite materials and their year-on-year impact on the market size and share in the recent past were analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in market, market share of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers, restraints, trends and opportunities available in the market. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2024 for different segment and sub-segments in major region/country globally. The research methodology adopted to estimate the market size encompasses:

The industry’s market size, in terms of value (US$) and rate of adoption of automotive composite materials in major region/country globally
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players across different technologies and markets as well as market share of each player. Also, the growth strategies adopted by these players to compete in the rapidly growing Global Automotive Composite Material market
Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the global automotive composite material market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material type, manufacturing process, application, and vehicle type.

Main objective of the Global Automotive Composite Materials Market Study

The current & future market trends of the Global automotive composite materials market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:

Analyse the current and forecast market size of Global automotive composite materials in terms of value (US$)
Analyse the current and forecast market size of different segments and sub-segments of Global automotive composite materials market. Segments in the study include material type, manufacturing process, application, and vehicle type
Define and describe the technologies and protocols used in automotive composite materials
Anticipate potential risk associated with the technology along with customer and competitor analysis, among others
Define and analysis of the government regulations for automotive composite materials in major region/country globally
Analyse the current and forecast market size of automotive composite materials in regions, in terms of value for regions including North America, Europe, Asia-Pacific, MENA and Latin America
Define and analyse the competitive landscape of the Global automotive composite materials and the growth strategies adopted by the market players to sustain in the ever-growing market