Automotive Composites Market 2026: Europe Region is Projected to Record CAGR of 6%
Selbyville, Delaware, United States, September 11 2020 (Wiredrelease) Global Market Insights, Inc –:Europe automotive composites market will grow at 7% CAGR up to 2026 on account of strict emission regulations, resulting in high product demand from countries including Germany, France, Spain and the UK. EU has laws binding emission targets for new van fleets and vehicles to help reduce the CO2 emissions of vehicles.
The commission mandated that as of 1 September 2017, all new car models are supposed to pass new, more reliable and rigorous emissions tests in real driving conditions as well as a high-level laboratory test before they are allowed to be driven on roads across Europe. Vehicle emission regulations in the region may contribute towards growth of automotive composites industry size.
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Growing consumer inclination towards fuel efficient hybrid and electric vehicles will drive global automotive composites market outlook. Automotive composites are light weight structures that are utilized in place of traditional manufacturing materials for several interior, exterior and other auxiliary parts in vehicle in order to reduce overall vehicle weight.
Favorable governmental initiatives to support light weighting of vehicles to reduce the environmental impact quality will fuel the adoption of automotive composites by vehicle manufacturers. It is estimated that every 10% reduction in vehicle weight results in 7% increase in fuel economy, and with add-on compounded weight savings, there can be 9.5% improvement in the fuel economy.
In 2019, glass fiber segment dominated the global automotive composites industry share and is estimated to showcase growth rate of 6% through 2026 on account of high stiffness, and relative tensile strength over other fibers. Moreover, cost effective nature, high heat resistance and low dielectric constant of these fibers will positively impact their sales over the coming years.
Compression injection process is deployed for producing high performance composite parts by injecting molten material into a mold. Injection molding process is widely used to produce composites as it a cost-effective solution for large-scale molding projects. In addition, lesser energy consumption and less floor spacing requirement are the key factors propelling the technology’s adoption.
Some Point from Table of Contents:
Chapter 4 Automotive Composites Market, By Fiber
4.1 Automotive composites market share by fiber, 2019 & 2026
4.2 Glass fiber composites
4.2.1 Market estimates and forecast, 2016 – 2026
4.2.2 Market estimates and forecast by region, 2016 – 2026
4.3 Carbon fiber composites
4.3.1 Market estimates and forecast, 2016 – 2026
4.3.2 Market estimates and forecast by region, 2016 – 2026
4.4 Natural fiber composites
4.4.1 Market estimates and forecast, 2016 – 2026
4.4.2 Market estimates and forecast by region, 2016 – 2026
Chapter 5 Automotive Composites Market, By Resin
5.1 Automotive composites market share by resin, 2019 & 2026
5.2.1 Market estimates and forecast, 2016 – 2026
5.2.2 Market estimates and forecast by region, 2016 – 2026
5.3.1 Market estimates and forecast, 2016 – 2026
5.3.2 Market estimates and forecast by region, 2016 – 2026
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