|Lightweighting Series—Supply- and Demand-side Analysis of Composites in the Automotive Industry, Forecast to 2025|
|OEMs’ Focus on Reducing Vehicle Weight to Adhere to Emission Standards Presents Excellent Growth Opportunity for Composites|
Automotive original equipment manufacturers’ (OEMs’) urgency for weight reduction, improved aesthetics, superior mechanical properties, and cost savings is creating dynamic new product and technology innovations within the automotive composites sector. Frost & Sullivan forecasts demand for lightweighting composites in the global automotive market to expand at a CAGR of 7.6% between 2018 and 2025 to reach 5,794.8 KT, with significant growth across different composite types. Revenue for this market is expected to increase at a CAGR of 9.0% in the same period to reach $29,034.7 million.