Automotive Composite Market By Type (Metal matrix composite, Polymer matrix composite And Ceramic matrix composite) By Application (Interior, Exterior, Chassis & power train components, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Description

Market Overview     

The global Automotive Composites market accounted for USD 5.9 Billion in 2020 and is expected to reach USD 11.3 Billion by 2028, growing at a CAGR of around 8.3% between 2021 and 2028.    

Automotive composites are majorly used for reducing the weight of components. These composites includes materials which are manufactured from combination of two or more materials. It offers various unique characteristics to the part such as high tensile strength, lightness, stiffness, material strength, therefore, considering this parameter the automotive composites market has wide scope in the near future in various applications including automotive, aerospace,, electronics, defense and marine amongst others.  

Increasing environmental concerns, with rising fuel prices among emerging nations is resorting manufacturers to incorporate lightweight materials in vehicles. This factors is likely to increase the demand for automotive composite market.  

COVID-19 Impact Analysis

The global automotive composites market has witnessed a slight decline in the sales for short term to the lockdown enforcement placed by governments in order to contain COVID spreading. Retail sales of vehicles across all the region is also likely suffer due to subdued consumer sentiment because of the rising infections and curbs. The automotive industry in the U.S remain fragile, vehicles sales decline by 5-10%, whereas China vehicles sales continue their fast recovery. Europe automotive shows decline of 8- 12% Y-o-Y.

The restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand of auto parts of the vehicles. The market would remain bullish in upcoming year.  The significant decrease in the global automotive composites market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Growth Factors

Increasing demand for automotive composite in automotive and aerospace industries is one of the major driving factors for the growth of the automotive composites market. Moreover, stringent norms and regulations specific to CO2 emission especially in the region such as North America and Europe are anticipated to spur the market size in the region during the forecast period. However, high cost of composites can lead to limit the growth of the market. In addition, growing demand for lightweight vehicles in Asia Pacific region due the growing prices of fuel is likely to set as new opportunities for the major players of automotive composites market over the coming years.   

Report Scope:  

Types Segment Analysis Preview  

Polymer matrix composite segment held the major share of more than 40% in the automotive composite market, and is likely to remain dominant throughout the forecast period. Increasing use of polymer matrix composite in an array of industries such as aerospace, automotive, and electronic is likely to spur the market size with a growing CAGR of 8.1% from 2021-2028.  Moreover, the metal matrix is also predicted to witness moderate growth in the coming years owing to growing usage in aerospace industry.

Applications Segment Analysis Preview  

Exterior applications segment dominated the global automotive composites market in 2020. It accounted for more than 30% share of the total market in 2020 and it is likely to witness the major growth in the coming years. Owing to high investment for R&D, the exterior application is likely to spur the growth of the automotive composite market.   

Key Market Players & Competitive Landscape

Some of the major players of global automotive composites market includes E.I. du Pont de Nemours and Company, SAERTEX GmbH & Co. KG, Owens Corning, Teijin Limited, SGL Group, Nippon Sheet Glass Co., Ltd., Cytec Industries Inc., Toray Industries Inc., Johns Manville and amongst others.

The global Automotive Composites Market is segmented as follows:

By Types

• Metal matrix composite
• Polymer matrix composite
• Ceramic matrix composite

By Applications

• Interior
• Exterior
• Chassis & power train components
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

Table Of Content

• Chapter No. 1 Introduction
  • 1.1. Report Description
    • 1.1.1. Purpose of the Report
    • 1.1.2. USP & Key Offerings
  • 1.2. Key Benefits for Stakehulders
  • 1.3. Target Audience
  • 1.4. Report Scope
• Chapter No. 2 Executive Summary
  • 2.1. Key Findings
    • 2.1.1. Top Investment Pockets
      • 2.1.1.1. Market Attractiveness Analysis, By Type
      • 2.1.1.2. Market Attractiveness Analysis, By Application
      • 2.1.1.3. Market Attractiveness Analysis, By Region
  • 2.2. Market Snapshot
  • 2.3. Global Automotive Composites Market, 2016 – 2028 (USD Billion)
  • 2.4. Insights from Primary Respondents
• Chapter No. 3 COVID 19 Impact Analysis
  • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
    • 3.1.1. North America
    • 3.1.2. Europe
    • 3.1.3. Asia Pacific
    • 3.1.4. Latin America
    • 3.1.5. The Middle-East and Africa
  • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
  • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
  • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
  • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
    • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
  • 3.6. Short Term Dynamics
  • 3.7. Long Term Dynamics
• Chapter No. 4 Automotive Composites Market – Type Segment Analysis
  • 4.1. Overview
    • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
  • 4.2. Metal matrix composite
    • 4.2.1. Market Size and Forecast, By Region (USD Billion)
    • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.3. Pulymer matrix composite
    • 4.3.1. Market Size and Forecast, By Region (USD Billion)
    • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 4.4. Ceramic matrix composite
    • 4.4.1. Market Size and Forecast, By Region (USD Billion)
    • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
• Chapter No. 5 Automotive Composites Market – Application Segment Analysis
  • 5.1. Overview
    • 5.1.1. Market Revenue Share, By Application, 2020 & 2028
  • 5.2. Interior
    • 5.2.1. Market Size and Forecast, By Region (USD Billion)
    • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.3. Exterior
    • 5.3.1. Market Size and Forecast, By Region (USD Billion)
    • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.4. Chassis & power train components
    • 5.4.1. Market Size and Forecast, By Region (USD Billion)
    • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
  • 5.5. Others
    • 5.5.1. Market Size and Forecast, By Region (USD Billion)
    • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
    • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
  • 6.1. Overview
    • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
    • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
  • 6.2. North America
    • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
    • 6.2.3. North America Market Revenue, By Application, 2016 – 2028
    • 6.2.5. U.S.
      • 6.2.5.1. U.S. Market Revenue, By Type, 2016 – 2028
      • 6.2.5.2. U.S. Market Revenue, By Application, 2016 – 2028
    • 6.2.6. Canada
      • 6.2.6.1. Canada Market Revenue, By Type, 2016 – 2028
      • 6.2.6.2. Canada Market Revenue, By Application, 2016 – 2028
    • 6.2.7. Mexico
      • 6.2.7.1. Mexico Market Revenue, By Type, 2016 – 2028
      • 6.2.7.2. Mexico Market Revenue, By Application, 2016 – 2028
  • 6.3. Europe
    • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
    • 6.3.3. Europe Market Revenue, By Application, 2016 – 2028
    • 6.3.5. Germany
      • 6.3.5.1. Germany Market Revenue, By Type, 2016 – 2028
      • 6.3.5.2. Germany Market Revenue, By Application, 2016 – 2028
    • 6.3.6. France
      • 6.3.6.1. France Market Revenue, By Type, 2016 – 2028
      • 6.3.6.2. France Market Revenue, By Application, 2016 – 2028
    • 6.3.7. U.K.
      • 6.3.7.1. U.K. Market Revenue, By Type, 2016 – 2028
      • 6.3.7.2. U.K. Market Revenue, By Application, 2016 – 2028
    • 6.3.8. Italy
      • 6.3.8.1. Italy Market Revenue, By Type, 2016 – 2028
      • 6.3.8.2. Italy Market Revenue, By Application, 2016 – 2028
    • 6.3.9. Spain
      • 6.3.9.1. Spain Market Revenue, By Type, 2016 – 2028
      • 6.3.9.2. Spain Market Revenue, By Application, 2016 – 2028
    • 6.3.10. Rest of Europe
      • 6.3.10.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.10.2. Rest of Europe Market Revenue, By Application, 2016 – 2028
  • 6.4. Asia Pacific
    • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
    • 6.4.3. Asia Pacific Market Revenue, By Application, 2016 – 2028
    • 6.4.5. China
      • 6.4.5.1. China Market Revenue, By Type, 2016 – 2028
      • 6.4.5.2. China Market Revenue, By Application, 2016 – 2028
    • 6.4.6. Japan
      • 6.4.6.1. Japan Market Revenue, By Type, 2016 – 2028
      • 6.4.6.2. Japan Market Revenue, By Application, 2016 – 2028
    • 6.4.7. India
      • 6.4.7.1. India Market Revenue, By Type, 2016 – 2028
      • 6.4.7.2. India Market Revenue, By Application, 2016 – 2028
    • 6.4.8. South Korea
      • 6.4.8.1. South Korea Market Revenue, By Type, 2016 – 2028
      • 6.4.8.2. South Korea Market Revenue, By Application, 2016 – 2028
    • 6.4.9. South-East Asia
      • 6.4.9.1. South-East Asia Market Revenue, By Type, 2016 – 2028
      • 6.4.9.2. South-East Asia Market Revenue, By Application, 2016 – 2028
    • 6.4.10. Rest of Asia Pacific
      • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.10.2. Rest of Asia Pacific Market Revenue, By Application, 2016 – 2028
  • 6.5. Latin America
    • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
    • 6.5.3. Latin America Market Revenue, By Application, 2016 – 2028
    • 6.5.5. Brazil
      • 6.5.5.1. Brazil Market Revenue, By Type, 2016 – 2028
      • 6.5.5.2. Brazil Market Revenue, By Application, 2016 – 2028
    • 6.5.6. Argentina
      • 6.5.6.1. Argentina Market Revenue, By Type, 2016 – 2028
      • 6.5.6.2. Argentina Market Revenue, By Application, 2016 – 2028
    • 6.5.7. Rest of Latin America
      • 6.5.7.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.7.2. Rest of Latin America Market Revenue, By Application, 2016 – 2028
  • 6.6. The Middle-East and Africa
    • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
    • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
    • 6.6.3. The Middle-East and Africa Market Revenue, By Application, 2016 – 2028
    • 6.6.5. GCC Countries
      • 6.6.5.1. GCC Countries Market Revenue, By Type, 2016 – 2028
      • 6.6.5.2. GCC Countries Market Revenue, By Application, 2016 – 2028
    • 6.6.6. South Africa
      • 6.6.6.1. South Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.6.2. South Africa Market Revenue, By Application, 2016 – 2028
    • 6.6.7. Rest of Middle-East Africa
      • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By Application, 2016 – 2028
• Chapter No. 7: Automotive Composites Market – Industry Analysis
  • 7.1. Introduction
  • 7.2. Market Drivers
    • 7.2.1. Driving Factor 1 Analysis
    • 7.2.2. Driving Factor 2 Analysis
  • 7.3. Market Restraints
    • 7.3.1. Restraining Factor Analysis
  • 7.4. Market Opportunities
    • 7.4.1. Market Opportunity Analysis
  • 7.5. Porter’s Five Forces Analysis
  • 7.6. PEST Analysis
  • 7.7. Regulatory Landscape
  • 7.8. Technulogy Landscape
  • 7.9. Regional Market Trends
    • 7.9.1. North America
    • 7.9.2. Europe
    • 7.9.3. Asia Pacific
    • 7.9.4. Latin America
    • 7.9.5. The Middle-East and Africa
  • 7.10. Pricing Analysis
  • 7.11. Value Chain Analysis
  • 7.12. Downstream Buyers
  • 7.13. Distributors/Traders List
• Chapter No. 8: Competitive Landscape
  • 8.1. Company Market Share Analysis – 2019
    • 8.1.1. Global Automotive Composites Market: Company Market Share, 2019
    • 8.1.2. Global Automotive Composites Market, Company Market Revenue, 2016 – 2019 (USD Billion)
    • 8.1.3. Global Automotive Composites Market, Company Y-o-Y Growth, 2017 – 2019 (%)
    • 8.1.4. Global Automotive Composites Market: Radar Determinant Chart, 2019
  • 8.2. Strategic Developments
    • 8.2.1. Acquisitions & Mergers
    • 8.2.2. New Product Launch
    • 8.2.3. Regional Expansion
  • 8.3. Company Strategic Developments – Heat Map Analysis
• Chapter No. 9: Company Profiles
  • 9.1. E.I. du Pont de Nemours and Company
    • 9.1.1. Company Overview
    • 9.1.2. Key Executives
    • 9.1.3. Product Portfulio
    • 9.1.4. Financial Overview
    • 9.1.5. Operating Business Segments
    • 9.1.6. Business Performance
    • 9.1.7. Recent Developments
  • 9.2. SAERTEX GmbH & Co. KG
  • 9.3. ZF TRW Toyodo Gosei
  • 9.4. Owens Corning
  • 9.5. Teijin Limited
  • 9.6. SGL Group
  • 9.7. Nippon Sheet Glass Co., Ltd
  • 9.8. Cytec Industries Inc.
  • 9.9. Toray Industries Inc.
  • 9.10. Johns Manville
• Chapter No. 10: Marketing Strategy Analysis
  • 10.1. Marketing Channel
  • 10.2. Direct Marketing
  • 10.3. Indirect Marketing
  • 10.4. Marketing Channel Development Trends
  • 10.5. Economic/Pulitical Environmental Change
• Chapter No. 11: Research Methodulogy
  • 11.1. Research Methodulogy
  • 11.2. Phase I - Secondary Research
  • 11.3. Phase II - Data Modeling
    • 11.3.1. Company Share Analysis Model
    • 11.3.2. Revenue Based Modeling
  • 11.4. Phase III - Primary Research
  • 11.5. Research Limitations
    • 11.5.1. Assumptions

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global automotive composites market. Zion Research has collected and analyzed key data belong to the global automotive composites market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of automotive composites across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the automotive composites industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

• Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
• Helps in validating and strengthening the secondary research findings
• Further, develops the analysis team’s expertise and market understanding
• Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

• Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
• Purchasing managers, technical personnel, distributors and resellers
• Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

• Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
• IDC and other relevant magazines
• Internal and external proprietary databases, and relevant patent and regulatory databases
• National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the automotive composites market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

• Demographic data: Population split by segments
• Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
• Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
• Data is then cross-checked by an expert panel.

Free Analysis

Composite is a mix of two different components revealing different chemical and physical properties together come with excellent outcomes. Different composites are used in the automotive industry to functions the vehicle with great fuel efficiency. The composites help in manufacturing lightweight vehicles which increase the fuel efficiency of the vehicles.  Thus, the growing trend of utilization of different composites in the automotive industry is likely to drive the composite market in the near future. The global automotive composites market is primarily driven by growing penetration of lightweight automobile across the globe. The stringent rules and regulations of CO2 emission imposed by the regulatory bodies across the globe are expected to influence positively for the automotive industry. This, in turn, is likely to propel the demand for automotive composite during the years to come. However, the high cost of composites and the growing concern about the recyclability may likely to hamper the growth of the automotive composite market. Nevertheless, growing preference for higher fuel efficiency in passenger cars, especially in Asia Pacific region, is likely to open new doors for the major players of automotive composites market in the next few years.

Based on the different types of composites, the global automotive composites market is bifurcated into metal matrix composite, polymer matrix composite, and ceramic matrix composite. Among these, polymer matrix composite was the largest product segment of the global automotive composites market in 2015. Moreover, it is also expected to be one of the fastest growing segments in the future. This growth is attributed to the shifting preference among consumer for carbon fiber composites which is bifurcated into the polymer matrix composite segment. Furthermore, ceramic matrix composite and metal matrix composite is projected to experience moderate growth over the next few years.

Interior, exterior, chassis & power train components and others are some major applications for automotive composites market. Exterior was the leading applications of the global automotive composites market in 2015. The surging inclination of consumers towards the lightweight vehicles due to the growing prices of fuel over the few decades is expected to fuel the demand for lightweight vehicles. This, in turn, is projected to have the positive influence on the global automotive composites market over the years to come. Furthermore, interior and chassis & power train components are important outlets for automotive composites market that are expected to witness significant growth in the coming years.

Asia Pacific held as the dominating market for automotive composites market and accounted for largest share of the overall market in 2015. Furthermore, this trend is likely to continue in the coming years due to the growing urban population in China and India because of rising industrialization. Additionally, stringent regulations for carbon emissions, especially in North America and Europe, is expected to boost the noteworthy growth in the lightweight automobile market. This, in turn, is expected to witness the mounting growth for automotive composites market in the near future.

Some of the major players of the global automotive composites market include E.I. du Pont de Nemours and Company, SAERTEX GmbH & Co. KG, Owens Corning, Teijin Limited, SGL Group, Nippon Sheet Glass Co., Ltd., Cytec Industries Inc., Toray Industries Inc., Johns Manville and amongst others.