The global automotive composite market size was estimated at USD 3,577.4 million in 2016. The automotive composite market is influenced by high production and stringent regulations implemented in the automobile section. According to the International Organization of Motor Vehicle Manufacturers, 95 million cars and commercial vehicles were manufactured in 2016.
The polymer matrix composites segment dominated the market in 2016. These composites are extensively used in the manufacture of structural and exterior components which help improve the crashworthiness of vehicles. PMC also offers excellent corrosion resistance, formability, and reduces mechanical vibrations. Asia Pacific & Europe are projected to experience significant demand for composites in the automotive industry. Joint ventures and long term contracts would be the key to success and durability for market participants. The rising automotive production in countries such as China, the U.S., Japan, Germany, India, and South Korea is projected to augment demand over the coming years. Browse full research report by Grand View Research: www.grandviewresearch.com/industry-analysis/automotive-composites-market Further Study Report Suggest:
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