Composites, which fundamentally are
composition of two of more constituent materials, produce a considerable part
of an automobile and, if smartly utilized, can lead to effectively lighter
vehicles that are harmless and more fuel-effective. Unruffled of the
high-performance fiber which includes glass or carbon-composites are tipped to
even substitute steel from the automotive industry in the coming years, and the
market for the same is bourgeoning. However, on the back of exhausting fossil
fuel sources and increasing responsiveness related to the pollution caused by
it, a revolutionizing trend in the automotive market is energy effectiveness.
According to the report analysis, ‘Asia
Pacific Market Insights on Automotive Composite Materials, 2018-2024: Emphasis
on Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic
Matrix Composites and Hybrid Composites), Manufacturing Process (Hand Layup,
Compression Molding, Injection Molding, Resin Transfer Molding)’ states
that in the Asia Pacific market insights on automotive composite material there
are numerous key players which recently performing more positively for leading
the fastest market growth and registering the high value of market share during
the coming years more significantly while decreasing the cost of raw material,
analyzing the stringent government regulations on GHG emission, leading the
requirement of composites among the hybrid and electric vehicles and augmenting
the scope of hybrid composite material includes BASF SE, DowDuPont Inc., Gurit
Holding AG, Magna International Inc., Mitsubishi Chemical Holdings Corporation,
Owens Corning, SGL Group, Solvay SA, Teijin Limited, Toray Industries Inc. and
several others.
Sideways, on the basis of geography, the air
quality in Asia Pacific has been an apprehension for the governmental bodies
owing to the deteriorating the air quality, due
to the which limited emission standards have been become obligatory to
be followed in some regions and is under contemplation in few others. The
augmenting number of vehicles in the country has depreciated the air quality,
with enormous Greenhouse Gases (GHG) emissions. Some of the Asian regions such
as China, India and Japan are among the highest GHG emitters holding 30%, 7%
and 4% of the worldwide GHG emissions. Apart from this, the Asia Pacific region
is the foremost market for Electric Vehicles (EVS) and the increasing requirement
of composite materials in EVs to offset the weight augmented by the batteries
is also strengthening the market growth.
Not only has this, based on the material type,
in the present era, PMCs are the maximum prevalent composite category among the
automakers. PMCs controlled the most market share in 2017 due to the fact that
they have extraordinary flexibility, great insulation, lower density and
brighter weight than other composite materials. Further, these have been
estimated to overcome during the review period. Additionally, on the basis of
manufacturing process type, Injection molding process registered the Asia
Pacific automotive composite market in 2017 and is estimated to pursue its
dominance over the forecast period. Nonetheless, owing to the RTM's competence
of stumpy cost and great volume manufacturing, this manufacturing procedure is
predicted to be the fastest increasing sector during the forecast period of
2018-2024.
Sideways, according to the segmentation by
country, China accounted the market in 2017 and is estimated to overcome over
the others during the reviewed period. China is the world's principal
automobile manufacturer, and rigorous emission regulations and the existence of
the local composite materials merchants constitute to be the foremost aspects
checking China's automotive composite materials market. Therefore, in the
years, it is anticipated that the Asia Pacific market insights on automotive
composite materials will increase more positively over the coming years.
For more information, click on the
link below:
Contact Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91
9015378249
No comments:
Post a Comment