Global Automotive Composites Market: Overview
Composites have been used popularly in a range of internal and external automotive components to provide distinct structural and weight advantages. A number of original equipment manufacturers (OEMs) and auto makers’ world over are increasingly using engineering composites, with the primary objective to reduce vehicle weight and cut down on carbon emission.
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Startups and big automobile manufacturers are actively considering to incorporate carbon fiber composites in trucks and electric vehicles in the coming in the forthcoming years. Apart from this, the adoption of advanced automotive composites has upped the current safety level, reduce the consumption of fuels, and increase the comfort level. In addition, the adoption of automotive composites have helped automotive players to fill in more functional hardware, notably gadgets.
Over the next few years, the automotive composites market will witness a spate of innovations, with powertrain providing significant untapped area for growth. Advances in the composite market will offer OEMs better design freedom and function integration. The demand for design innovations in vehicles among customers in various parts of the world will further unlock interesting prospects in the automotive composites market during the assessment period of 2017–2025.
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The report offers insights into the current growth drivers and restraints, emerging trends and notable developments, recent technological advances, and the competitive landscape. The study offers a critical assessment of the existing regulatory framework in various regions shaping the growth trajectory and highlights lucrative avenues in the coming years.
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