Dublin, Dec. 5, 2014 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/8s85xb/automotive) has announced the addition of the "Automotive Composite Market by Type and by Application- Global Trends & Forecast to 2019" report to their offering.
The automotive composite market is projected to witness a CAGR of 8.50% between 2014 and 2019, and is expected to generate a global market value of $7,142.37 by 2019.
The global automotive composite market is witnessing high growth because of its increasing use in different applications, such as interior and exterior components, chassis & powertrain and others. The growth in the chassis & powertrain application is one of the major drivers for this market. Decreasing cost of automotive composite processing and reduced cycle time are further anticipated to drive the automotive composites market globally in the projected period.
Polymer matrix composite is the most consumed automotive composite across the world. The market size in terms of value for the same is projected to reach $7,035.66 million by 2019. Most of the automotive composite materials offer superior properties than the conventional materials and have flexible nature, making them moldable in any shape. Use of composites in cars makes it lighter and renders greater resistance to heat, external impact and improves fuel efficiency. Also, automakers are working to meet passenger car emission standards, thereby focusing on vehicle weight reduction.
While exterior components currently form the largest application market for automotive composite, the chassis and powertrain application is witnessing the highest demand. Use of carbon fiber composite in automotive applications has a wide scope of expansion, which in turn would increase the overall use of composites in the automotive industry.
The major consumers of automotive composite in developing countries include China, India, and Brazil; whereas major consumers in developed countries include the U.S., Japan, Germany, the U.K., and South Korea.
The key participants in this market are Toray Industries Inc. (Japan), Owens Corning (U.S.), Johns Manville (U.S.), SGL Group (Germany), Cytec Industries Inc. (U.S.), Koninklijke Ten Cate nv (Netherlands), Nippon Sheet Glass Co., Ltd. (Japan), Jushi Group Co. Ltd. (China), and Teijin Limited (Japan).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Automotive Composite Market, By Type
8 Automotive Composite Market, By Application
9 Market Analysis, By Region
10 Competitive Landscape
11 Company Profiles
- Cytec Industries
- Ford Motor Company
- General Motor Company
- Johns Manville
- Jushi Group Co. Ltd.
- Nippon Sheet Glass Co. Ltd.
- Owens Corniing
- Sgl Group - The Carbon Company
- Teijin Limited
- Toray Industries
- Volkswagen Group
For more information visit http://www.researchandmarkets.com/research/8s85xb/automotive
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Source:Research and Markets