U.S Automotive Composites Market

The U.S automotive composites market size is expected to expand at a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising use of eco friendly natural fibers, increasing environmental concern, and strict regulations on emission control.

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Composites are the combination of two materials with various chemical and physical properties. Composites are most commonly used for replacing the steel and other heavy materials owing to their higher strength to weight ratio. The large numbers of vehicles are uses conventional fuel technologies including petrol and diesel is anticipated to drive the market. They are combined to make a material that is specialized to do some job to become lighter, stronger, and resistant to electricity as well as helps to improve the stiffness and strength. It can be used or applied in various situations and improves the properties of their base materials.

Automotive composites have highly been impacted due to covid-19. Lockdown imposed in the country affected the manufacturers of automobiles that play a major role in the downturn of the automotive composites market. There are various activities that also affected the expansion of the automotive composites market such as halt in production, shutdown of manufacturing plants, and disturbance in the supply chain.  

Market Trends, Drivers, Restraints, and Opportunities

• Increasing demand for lightweight and fuel efficient vehicles is projected to propel the market expansion in the coming years.
• Rapid growth of the automotive industry is major factors fueling the market growth.
• Stringent rules and regulations by government acts as major challenge that can hamper the market expansion.
• High manufacturing and processing price of composites is estimated to impede the market growth during the forecast period.
• R&D investment and technological advancement in composites are projected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the U.S automotive composites market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment Insights:

Exterior segment is projected to account for a large market share

Based on application types, the U.S automotive composites market is divided into power train components, exterior, structural assembly, interior, and others. The exterior segment is expected to constitute a key share of the market during the forecast period owing to major components of car body including fender, door panels, bumper beam, front end module, and hood are made of composite materials. The use of composite materials ensures long lifecycle, durability, and lowers maintenance cost. However, the interior segment is anticipated to expand at a rapid pace during the forecast period due to rising need for lightweight interior components.

Injection molding segment is projected to hold a key market share

On the basis of production types, the market is segmented into compression molding, injection molding, hand layup, vacuum infusion processing, and resin transfer molding. The injection molding segment is expected to represent a key share of the market in the coming years due to increasing adoption in automotive industry and high operating temperatures. On the other hand, the compression molding segment is anticipated to expand at a rapid pace during the forecast period owing to simpler process and lower tooling costs.

Glass fiber segment is projected to constitute a major market share

In terms of materials, the U.S automotive composites market is segregated into thermoplastic polymer, glass fiber, thermoset polymer, and carbon fiber, and others. The glass fiber segment is expected to account for a key share of the market during the forecast period owing to its superior attributes including flexibility, lightweight, strength, stability, and durability. Glass fiber also helps in resistance of temperature, heat, and moisture. Glass fiber composites are composed of high number of tiny glass fibers that are combined together and held strongly in place of plastic polymer resin.
 

Segments

Segments Covered in the Report
The U.S automotive composites market has been segmented on the basis of
Application Types

• Power Train Components
• Exterior
• Structural Assembly
• Interior
• Others

Production Types

• Compression Molding
• Injection Molding
• Hand Layup
• Vacuum Infusion Processing
• Resin Transfer Molding

Materials

• Thermoplastic Polymer
• Glass Fiber
• Thermoset Polymer
• Carbon Fiber
• Others

Country

• United States

Key Players

• Delphi Technologies
• SGL Carbon SE
• 3B Fiberglass
• General Motors Company
• Nippon Sheet Glass Co Ltd.

Competitive Landscape

Key players competing in the U.S automotive composites market include Delphi Technologies; SGL Carbon SE; 3B Fiberglass; General Motors Company; and Nippon Sheet Glass Co Ltd. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.