The global automotive composites market is expected to reach US 14.01 billion by 2029, growing at a CAGR of 12.45% during the forecast period, according to a new report by Maximize Market Research. This growth is attributed to several factors, including:
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Market Overview
Automotive composites are materials composed of fibers (reinforcement) embedded in a resin (matrix). They offer several advantages over traditional materials like steel and aluminum, including:
Questions Answered in the Report
Segmentation
The automotive composites market is segmented by fiber type, resin type, manufacturing process, and application:
Market Players
The report identifies prominent players in the global automotive composites market:
Regional Analysis
The report examines the growth potential of the automotive composites market across key regions:
Impact of COVID-19 on the Market
The COVID-19 pandemic caused disruptions to automotive production and supply chains, impacting the demand for automotive composites. However, the market is expected to recover as the automotive industry rebounds. The long-term outlook remains positive due to growing demand for lightweight and fuel-efficient vehicles.
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