June 25, 2019—Automotive original equipment manufacturers' (OEMs') urgency for weight reduction, improved aesthetics, and cost savings is creating dynamic new product and technology innovations within the automotive composites sector, according to a report.
Frost & Sullivan forecasts demand for lightweighting composites in the global automotive market to expand at a CAGR of 7.6 percent between 2018 and 2025.
Frost & Sullivan's recent analysis, Lightweighting Series—Supply- and Demand-side Analysis of Composites in the Automotive Industry, Forecast to 2025, analyzes the global auto composites market in respect to the lightweighting initiatives undertaken by OEMs.
The main segments covered by product type are glass fiber reinforced plastics (GFRP), carbon fiber reinforced plastics (CFRP) and natural fiber reinforced plastics (NFRP).
