Rapid Growth of Automotive Industry in Asia Pacific to Drive the Automotive Composite Body Panel Market

Transparency Market Research (TMR) provides key insights on the automotive composite body panel market in its latest report titled “Automotive Composite Body Panel Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026.” According to the report, robust growth of the automotive industry in Asia Pacific is predicted to propel the automotive composite body panel market during the forecast period. Countries in Asia Pacific have witnessed increased demand for automotive composites that offer growth opportunities to the automotive composite body panel market.

Automotive composite body panels are lightweight materials panels composed of high performance fibers such as carbon and glass and base matrix materials. These composites are widely utilized in exterior automotive systems such as exterior bumpers. They are also extensively employed in interiors such as dashboards and upholsteries. Automotive composite body panels are made of resins and fiber. Thus, they possess high molding, as compared to metals.

Automotive composites can be molded into intricate shapes. Moreover, they also help improve body esthetics. Therefore, the demand for automotive composites has been rising. Composites can be designed to achieve proper ratio of strength and flexibility in order to absorb and dissipate energy during a collision. The utilization of automotive composites in bumper fascia, fenders, bonnet, and tailgate helps absorb and deflate the collision energy more effectively. Consequently, automotive exteriors are witnessing an increase in the usage of automotive composite body panels.

The report has segmented the global automotive composite body panel market based on application, fiber type, resin type, manufacturing process type, vehicle type, and region. Based on application, the global automotive composite body panel market can be classified into five segments. The exterior segment holds a large share of the market owing to the wide usage of composites in bumpers, fenders, and tailgates. The powertrain segment is estimated to witness expansion at a high growth rate during the forecast period.

In terms of fiber type, the global automotive composite body panel market is split into three segments. Glass fiber and carbon fiber are two prominent fiber type segments. In terms of resin type, the global automotive composite body panel market can be bifurcated into thermoplastics and thermosets. Thermoplastics is a leading segment due to their easy manufacturing process and high molding ability.

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