Global Automotive Composites Market by 2021- Types, Applications, Drivers, Risks, Opportunities, Shares, Countries, Revenue, & Forecast

The latest trend gaining momentum in Automotive Composites Market is introduction of innovative composites. The global automotive composites market is experiencing an increase in the R&D of materials having superior properties, such as fuel efficiency, crashworthiness, and high strength. The investment in R&D has already led to the introduction of some innovative products by vendors.

Automotive Composites Market Vendors: Cytec Solvay, Mitsubishi Rayon, SGL Group, Teijin, and Toray Industries.

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According to Automotive Composites Market report, one of the major drivers for this market is increase in automotive regulatory requirements. The number of laws and regulations that emphasize on the reduction of carbon dioxide emissions from automobiles are on the rise. The Kyoto Protocol (was introduced in 1992 and had the first commitment period in 2012) is one such regulation that restricts the emission of carbon dioxide and other greenhouse gasses into the atmosphere.

Further, the Automotive Composites Market report states that one of the major factors hindering the growth of this market is high cost of composites. The costs of majority of the composites are higher than that of their substitutes such as plastics, metals and other polymers. Carbon fiber composites are the costliest among all composites. Carbon fiber composites account for around 34% of the polymer matrix composites market. The R&D and manufacturing costs of carbon fiber composites are high, almost eight times higher than that of steel.

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Automotive Composites Market  study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The Automotive Composites Market report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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