The report presents an in-depth assessment of the Australia Automotive Composites Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Australia Automotive Composites investments from 2021 till 2025. This research report also provides post COVID-19 impact analysis of the Australia Automotive Composites industry.
Australia Automotive Composites market is growing at a CAGR of 7% during the forecast period (2021-2025).
The Australia Automotive Composites market is highly competitive and consists of a number of major players. Top Companies like Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites, Inc., mouldCAM Pty Ltd., SGL Carbon, Toho Tenex (Teijin Ltd), Toray Industries Inc, Nippon Sheet Glass Company, Limited, Nippon Sheet Glass Company, Limited, Sigmatex, Nippon Carbon Co., Ltd
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Industry News And Developments:
SABIC announced a new, cutting-edge technology for producing lightweight, cost-effective, and recyclable vehicle panels, primarily by using its UDMAX tape, a unidirectional, fiber-reinforced thermoplastic composite, at JEC World 2019.
Scope of the Report
– Factors such as increasing demand for lightweight material from the automotive industry and growing focus on fuel economy are expected to be major drivers for the market. However, high costs associated with carbon fiber composites, and glass fiber composites is hindering the growth of the market, as their usage in low-cost vehicles could drastically increase the prices of such vehicles.
Key Market Trends
Growing Demand for Lightweight Materials
In a typical automobile, the use of fibers is 50% by volume, while adding just 10% to the weight. In the United States, regulations mandate that by 2025, the average fuel economy standard must meet 54.5 miles per gallon.As per the US Department of Energy (DOE), reducing the weight of vehicles by 10% yields an increase of 6-8% in fuel economy.As a result, companies have started using materials like carbon fiber and glass fiber composites to make vehicles lightweight and fuel-efficient.
Transportation Sector to Drive the Market:
The Corporate Average Fuel Economy (CAF) standard forced manufacturers in the automobile industry to develop vehicle designs that incorporated high-performance light-weight materials. The weight of an automobile has a direct impact on driving dynamics, fuel consumption, and agility. A 10% reduction in vehicle weights results in approximately 5-7% rise in fuel savings
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Australia Automotive Composites Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2015 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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