According to a new analysis by Future Market Insights, transportation composites’ fit with broader automotive industry aims, particularly sustainability and weight reduction, will encourage continuous use (FMI).
According to the study, continual innovation and research into technologies that assist fulfil mandated emission objectives is becoming the elixir for transportation composites makers. Furthermore, as customers become more environmentally conscious, reuse and recycling are gaining traction, which bodes well for transportation composite manufacturers.
As these trends that are driving the current surge continue, transportation composite manufacturers are focusing on unique capabilities and exploring opportunities to better serve customers and make material progress.
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Transportation Composites Market Size Study
- Demand for lightweight components to drive market growth
- Glass fiber transportation composites remain preferable owing to their superior properties such as high strength and durability
- Thermosetting composites stay in-demand through 2030, given their umpteen strength that makes them ideal for high-temperature conditions
- Market players continue to reap substantial gains from Asia Pacific (APAC) over the following decade
COVID-19 Impact on Transportation Composites Market
The transportation composites market is heavily dependent on the automotive production and sales across the world. Sudden shutdowns of manufacturing units in China and its ripple effect, resulting in large-scale havoc among global automotive manufacturers, have been felt subsequently in the US, Europe, South America, and India. Moreover, majority of prominent global automakers import 30-60% of their components from China such as sub-assemblies, and modules.
As several automotive OEMs and distributors have offshored their production activities to low-cost regions, they are currently scrambling to set up shorter or localized regional supply chains.
Moving ahead, nationwide lockdowns in worst-affected countries have impacted the transportation composites market at multiple fronts including, financially drained SMEs, disturbed supply chains, and dampened sales in Q1 of 2020. Moreover, the effects have spilled over into Q2, with incomplete order deliveries due to ongoing production downturns.
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Transportation Composites Market – Competitive Intelligence
The global transportation composites market is moderately fragmented, with presence of leading players exhibiting expertise in advanced manufacturing techniques. In a bid to sustain their revenue pool in the global marketplace over long run, market players are focusing on conspicuous investments in innovation and diversification.
- Toray Industries develops carbon fiber transportation composites derived from polyacrylonitrile (PAN). These composites, in various forms, are used in automotive and several other use cases
- Solvay S.A. produces an entire range of thermoplastic transportation composites – Evolite™ – for demanding applications. These products contain polyphthalamide (PPA) and polyphenylene sulfide (PPS)
Key Segment
Material Type
- Glass Fiber
- Natural Fiber
- Carbon Fiber Composite
- Aramid Fiber
Resin
- Thermoset
- Thermoplastic
Application
- Interior
- Exterior
- Underbody
- Chassis
- Powertrain
- Engine Components
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Want To Know More About Transportation Composites Market?
A new market research report published by Future Market Insights (FMI) on the global transportation composites market report offers comprehensive insights into the market demand trends and analysis of opportunities over the forecast period, 2020-2030. The report examines the transportation composites market through five different segments – material type, resin, application, vehicle type, and region. The transportation composites market report also provides extensive assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of transportation composites and product adoption across several end-use industries.
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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