Transparency Market Research
Automotive composite body panels are lightweight materials panels composed of high performance fibers such as carbon and glass and base matrix materials. These composites are widely utilized in exterior automotive systems such as exterior bumpers. They are also extensively employed in interiors such as dashboards and upholsteries.
Restrictive emission standards in Europe and increased Corporate Average Fuel Economy (CAFÉ) in the U.S. are compelling automakers to develop lightweight solutions to meet emission norms. Implementation of stringent emission norms is a prime factor driving the global automotive composite body panel market. Rise in consumer awareness about ill-effects of pollution is boosting the demand for lightweight solutions. This, in turn, is fueling the demand for automotive composite body panels. Increase in demand for durable parts is also boosting the demand for automotive composite body panels. Metal parts are prone to high wear and tear, while composite body parts exhibit longer durability and luster. Thus, the latter is favorable. Increase in demand for esthetics is fueling the demand for automotive composite body panel. Automotive composite body panels are made of resins and fiber. Thus, they possess high molding, as compared to metals. Automotive composites can be molded into intricate shapes. Moreover, they also help improve body esthetics. Therefore, the demand for automotive composites has been rising. Composites can be designed to achieve proper ratio of strength and flexibility in order to absorb and dissipate energy during a collision. The utilization of automotive composites in bumper fascia, fenders, bonnet, and tailgate helps absorb and deflate the collision energy more effectively. Consequently, automotive exteriors are witnessing an increase in the usage of automotive composite body panels.
Automotive composite body panels made of carbon fiber are expensive. Therefore, high price is a key factor restraining the automotive composite body panel market.
The global automotive composite body panel market can be segmented based on application, fiber type, resin type, manufacturing process type, vehicle type, and region. In terms of application, the global automotive composite body panel market can be classified into five segments. The exterior segment holds a large share of the market owing to the wide usage of composites in bumpers, fenders, and tailgates. The powertrain segment is estimated to witness expansion at a high growth rate during the forecast period.
Based on fiber type, the global automotive composite body panel market can be divided into three segments. Glass fiber and carbon fiber are two prominent fiber type segments.
In terms of resin type, the global automotive composite body panel market can be bifurcated into thermoplastics and thermosets. Thermoplastics is a leading segment due to their easy manufacturing process and high molding ability.
In terms of manufacturing process, the global automotive composite body panel market can be segregated into five segments. Injection molding, reaction injection molding, and blow molding are leading segments.
Based on vehicle type, the global automotive composite body panel market can be split into passenger vehicle and commercial vehicle. Passenger vehicle is the leading segment, owing to the increase in production of these vehicles across the globe.
In terms of region, the global automotive composite body panel market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the leading market for automotive composite body panel. Easy availability of raw materials and China’s leadership in the plastic industry have boosted the automotive composite body panel market in the region.
Key players operating in global automotive composite body panel market are Magna International, Plastic Omnium, Faurecia, and Plastic Omnium.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
The main aim of the report is to:
MRR.BIZ is a leading provider of strategic market research. Our vast repository consists research reports, data books, company profiles, and regional market data sheets. We regularly update the data and analysis of a wide-ranging products and services around the world. As readers, you will have access to the latest information on almost 300 industries and their sub-segments. Both large Fortune 500 companies and SMEs have found those useful. This is because we customize our offerings keeping in mind the specific requirements of our clients.