BEIJING -
Jan. 7, 2020 -
PRLog --
The global automotive composite materials market is anticipated to gain the market worth of US$ 9,037.4 million by 2025, expanding at a CAGR of 9.97% during the forecast period 2019-2025. The major reasons fuelling to the adoption of composite materials in the automotive industry are stringent government regulations on GHG emissions, increased usage of composites, among hybrid and electric vehicles and better structural and mechanical properties of composites compared to other materials such as steel and aluminum among others. In terms of materials, Polymer Matrix (PMC), Metal Matrix (MMC), Ceramic Matrix (CMC) and others (Hybrid Composite), are the major types of composite materials used by the vehicle manufacturers. In 2018, PMC dominated the global automotive composite materials market and is anticipated to generate a market size of US$ 4.23 billion by 2020, followed by metal matrix composites and ceramic matrix composites. On the other hand, a visible inclination towards hybrid composites is seen during the past few years, owing to their lower cost than pure carbon fibers. The hybrid composite material is expected to be the fastest-growing material type during the forecast period.
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