The global automotive composites market will be worth $12.1bn in 2016, as opportunities for light-weighting, requirements for fuel efficiency and global regulations for emission reduction drive the incremental penetration of composites into passenger cars, as per asdreports.com The author of the report commented that: "In 2016 the market for automotive composites is progressing strongly, boosted by increasingly advanced production techniques which are facilitating higher volume production of composite materials. The success of composite-rich models such as the BMW i3 provides further positive stimuli to the market, and indicates the beginning of a trend towards mid-price models featuring higher quantities of composite materials. The automotive composites market is currently characterized by a higher level of concentration in the premium vehicle segment, due to the current high costs of manufacturing composite materials. Over the forecast period, we will see emerging more cost-efficient methods of production, observing a change in this trend as light-weighting and fuel efficiency are targeted more directly by OEMs.
The automotive composites market represents high potential and it is expected to record considerable growth in the forecast period. Significant partnerships between OEMs and composite manufacturers will help to boost investment and research, facilitating cost-efficient mass production. This is the biggest restraint the market faces. Additionally, the issues and difficulties associated with the recycling of composite materials are being targeted, and healthy progress is already being made in this regard, which will continue throughout 2016-2026."