Total Revenue from Automotive Composites Market to Amount to USD 8.85 Billion in 2013, Forecasts Visiongain30 Jan 2013 • by Natalie Aster
Composites are fibre-reinforced materials; they are more durable than traditional materials, are corrosion resistant, can withstand higher loads and are lighter. Due to these factors composites need to be replaced less often than components made from traditional materials, and in automotive applications they save energy as they are less dense than traditional materials. The total revenue from the automotive composites market in 2013 is expected to reach $8.85bn.
According to the report “Global Automotive Composites Market 2013-2023” by Visiongain, the reduced weight of composite compared to traditional, usually steel and aluminium, components is the biggest advantage in the automotive industry. However, more advanced in-vehicle technology and safety features have been making cars heavier for decades. Car makers have generally been able to improve engine efficiency at a faster rate than weight augmentation. Consequently cars have become more fuel efficient despite also becoming heavier.
The current rise of oil prices and the resulting high running costs of cars in addition to environmental concerns have, nevertheless, put a stronger focus on efficiency. Higher efficiency results in lower fuel consumption and lower carbon dioxide emissions for comparable performance. Stricter emission regulations are increasing the need for even more advanced and expensive technologies. Lightweighting through the use of advanced composites is one of the key methods automotive manufactures are using to reduce vehicle weight and improve fuel efficiency.
Global Automotive Composites Market 2013-2023
Published: January, 2013
Price: US$ 2,497.00
Visiongain consulted widely with industry experts and the report includes full transcripts of two exclusive interviews with leading composites specialists AGY and Gurit. As such, our reports have a unique blend of primary and secondary sources providing informed opinion. This approach allows insight into the key drivers and restraints behind macro-economic and industry developments, as well as identifying the leading automotive composite companies. The report also presents a unique blend of qualitative analysis combined with extensive quantitative data including global and national automotive composite markets forecasts from 2013-2023 - all highlighting strategic business opportunities.
More information can be found in the report “Global Automotive Composites Market 2013-2023” by Visiongain.
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