The transportation composites market’s compatibility with the broader objectives of the automotive industry, notably sustainability and weight reduction, will drive sustained adoption, according to a new report by Future Market Insights (FMI).
According to the study, consistent innovation and research into technologies that help meet legislated emission targets are becoming the elixir for manufacturers of transportation composites. Moreover, as customers become more environmentally conscious, reuse and recycling are gaining traction – a development that augurs well for transportation composite manufacturers.
In a bid to fulfill emissions targets and improve the sustainability of future automobiles, mass reduction of automobiles (lightweight) is increasingly emerging as a major challenge for automotive manufacturers. Lightweight vehicles help achieve improved fuel efficiency as well as offer better braking, acceleration, and handling.
As these trends propelling the current surge will sustain, transportation composite manufacturers are focusing on distinctive capabilities and continue to explore opportunities to better serve customers and make material progress.
“Over 100 models in the automotive industry currently leverage carbon fiber reinforced plastic (CRFP) for OEM components. The OEMs are banking on transportation composites to curb vehicle emissions, decrease vehicle weight, and thus, enhance fuel efficacy,” says an analyst at FMI.
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Transportation Composites Market – Competitive Intelligence
The global transportation composites market is moderately fragmented, with the presence of leading players exhibiting expertise in advanced manufacturing techniques. In a bid to sustain their revenue pool in the global marketplace over the long run, market players are focusing on conspicuous investments in innovation and diversification.
Key Segment
Material Type
- Glass Fiber
- Natural Fiber
- Carbon Fiber Composite
- Aramid Fiber
Resin
- Thermoset
- Thermoplastic
Application
- Interior
- Exterior
- Underbody
- Chassis
- Powertrain
- Engine Components
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 an 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.