Driving Trends Shaping the Automotive Composites Market

By /

This section covers the major market trends shaping the Automotive Composites Market according to our research experts:

Shift Towards Lightweight Materials Meeting Demand in the Automotive Industry

  • The automotive industry’s emphasis on vehicle weight influences driving dynamics and fuel consumption.
  • Lightweight solutions are expensive, and consumers are unwilling to pay for weight reduction.
  • Lightweight materials are becoming increasingly important as governments throughout the world implement stricter emission laws.
  • Fibre contributes just 10% to the weight of a conventional car.
  • US laws require that fuel economy standards reach 54.5 miles per gallon by 2025.
  • India is an excellent market for composites due to the requirement for improved fuel economy.
  • Research and development expenses might limit market growth.
  • The carbon fibre composites market is expected to grow fast in developing economies.

Asia-Pacific leading the Automotive Composite Market

  • Asia-Pacific dominates the automotive composites market, followed by Europe and North America.
  • The need for lightweight materials steadily increases as the automotive industry expands and pollution rules tighten.
  • Rising consumer affluence in India is driving demand for lighter automobiles.
  • India is the fifth-largest manufacturer of light and commercial vehicles and the second-largest producer of two-wheelers.
  • The increasing expansion of manufacturing in India will likely stimulate demand for carbon fiber composites.

Emission Regulations and the Rise of Customized Car Demand

  • Emission law in the United States and Europe limits car exhaust emissions.
  • European automobiles comply with Euro 6 standards, impacting weight, combustion, and fuel efficiency.
  • There is a growing global market for bespoke automobiles, particularly sports and racing cars.
  • Thermoset composites are utilised in racing and premium sports cars. • The automotive composites business is expected to increase exponentially.

Overview of the Automotive Composites Industry

Automotive Composites Market NA, EU, APAC, LA, MEA Share 2023

Download a sample version of this report @ https://www.towardsautomotive.com/insight-sample/1004

  • In June 2021, Mitsubishi Chemical Co., Ltd. introduced a new carbon fiber prepreg for automobile engines.
  • In March 2021, Hexcel joined the ASCEND Project, a collaborative endeavour aimed at improving high-rate production and processing procedures. The project, with its ambitious goal to create lightweight innovative composite materials, holds significant potential for automotive and aerospace applications. Hexcel’s participation could [accelerate the development of these materials and contribute to more efficient, sustainable vehicle designs].
  • BMW and Audi combine carbon fibre reinforced plastic in a mixed-materials design for their A8 luxury sedan. The space frame’s rear wall, which accounts for 40% of the vehicle’s torsional rigidity, is 50% lighter than its metallic predecessor and well-suited to CFRP production.

Automotive Composites Market Leaders

  • Mitsubishi Chemical Carbon Fiber and Composites, Inc.
  • Hexcel Corporation
  • mouldCAM Pty Ltd.
  • SGL Carbon
  • Toho Tenex (Teijin Ltd)
  • Toray Industries Inc
  • Nippon Sheet Glass Company, Limited
  • Solvay
  • Nippon Carbon Co., Ltd.
  • Sigmatex

Latest Updates on Driving Innovation in the Automotive Composites Market

  • In April 2021, Solvay has launched Amodel Supreme PPA, a high-performance polyphthalamide chemical intended for e-mobility and metal replacement applications. This innovative material has excellent thermal, mechanical, and electrical qualities, making it ideal for high-temperature automotive components such as e-motors, power electronics, and electrical connections. It also fits the demands of electric and electrical devices, as well as telecommunications equipment, which require high heat resistance. Solvay’s launch highlights the company’s dedication to innovation and meeting the demands of developing sectors.
  • In February 2021, Hexcel Corporation partnered with NaCa Systems to develop a lightweight carbon fiber prepreg and wood fiber composite sports vehicle seat back. The collaboration aims to test a short-cycle manufacturing approach for Carbon Fiber Reinforced Polymer (CFRP) and wood fiber composite components using quick press molding techniques. This collaboration seeks to enhance productivity and reduce manufacturing times for automotive manufacturers. The joint effort aims to revolutionize the production of lightweight car interior parts by combining Hexcel’s innovative materials with NaCa Systems’ expertise in natural fiber composites.
  • Sigmatex announced the launch of a new recycled carbon fiber non-woven fabric in September 2020. Manufactured from high-quality carbon fiber waste, this fabric offers excellent mechanical and isotropic properties. Available in area weights ranging from 100gsm to 600gsm, it simplifies processing using pre-preg processes. This new non-woven fabric represents a significant advancement in carbon fiber sustainability, delivering improved performance and efficiency for various applications.
  • Mitsubishi Chemical Advanced Materials, Inc. and R3 Composites Corp. formed a strategic alliance in September 2020 to provide comprehensive solutions to North American clients. Specializing in the design, development, and manufacturing of innovative carbon-based composites, particularly for mobility applications, the collaboration aims to address evolving market demands and deliver cutting-edge solutions by leveraging combined resources and complementary skills.
  • In August 2020, SGL Carbon secured a multi-year contract with Koller Kunststofftechnik GmbH to produce novel carbon fiber profiles for windscreens for a high-volume BMW Group vehicle. These profiles, made from highly flexible fiber tows pre-impregnated with thermoplastic resin, are designed for serial manufacturing and will be used in various sizes, showcasing SGL Carbon’s expertise in novel materials for next-generation automotive applications.
  • In February 2020, SGL Carbon unveiled the new composite battery enclosure, driven by the need for flexible chassis platforms. Based on carbon fiber, the battery enclosure offers enhanced lightweight and structural rigidity. Additionally, the company introduced its leaf spring made of glass fiber composite, further expanding its portfolio of innovative automotive components.

     Dig into: https://automotivewebwire.com/insights/automotive-microcontroller-market-insight/

Explore the comprehensive statistics and insights on automotive industry data and its associated segmentation: https://www.towardsautomotive.com/get-an-annual-membership

To own our research study instantly, Click here @ https://www.towardsautomotive.com/price/1004

You can place an order or ask any questions, please feel free to contact us at sales@towardsautomotive.com

About Us

Towards Automotive is a premier research firm specializing in the automotive industry. Our experienced team provides comprehensive reports on market trends, technology, and consumer behaviour. We offer tailored research services for global corporations and start-ups, helping them navigate the complex automotive landscape. With a focus on accuracy and integrity, we empower clients with data-driven insights to make informed decisions and stay competitive. Join us on this revolutionary journey as we work together as a strategic partner to reinvent your success in this ever-changing automotive world.

For Latest Update Follow Us: https://www.linkedin.com/company/towards-automotive

 

Scroll to Top