According to a market report by Lucintel, the future of the global North American automotive composites market looks promising with opportunities in the exterior, interior, power train system, chassis system, under body system, electrical and electronics, and chassis system. The North American automotive composites market is expected to reach an estimated $3 billion by 2031 with a CAGR of 3% from 2024 to 2031. The major growth drivers for this market are increase in production of passenger cars and light commercial vehicles are expected to boost composites material materials in the automotive industry in the next five years and increase usage of composites in chassis, insulating panels, casing, mufflers, and sound insulation parts of the vehicles.A more than 150-page report to understand trends, opportunity and forecast in North American automotive composites market by material type (SMC, BMC, LFT, SFT, GMT, and CFT), resin type (PP composites, PBT composites, PA composites, polyester composites, vinyl ester composites, epoxy composites, phenolic composites, and other resin types), application (interior, exterior, power train system, under body system, electrical and electronics, chassis system, and other applications), resin group (thermoset composites and thermoplastics composites), fiber type (glass fiber composites, carbon fiber composites, and natural fiber composites), and Countries (US, Canada, and Mexico).
Lucintel forecasts that short fiber thermoplastic (SFT) North American automotive composites is expected to remain the largest segment and continuous fiber thermoplastic (CFT) composites segment is expected to witness the highest growth in the forecast period.
Exterior will remain the largest application segment and is also expected to witness the highest growth over the forecast period due to its increasing usage in automotive industry.
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BASF, DuPont, SABIC, RTP Company, Celanese, Teijin, Lanxess, Core Molding Technologies, IDI Composites, LyondellBasell are among the major North American automotive composites providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at [email protected] To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1-972-636-5056
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