Lucintel Forecasts Glass Fiber in the Global Automotive Composites Market to Reach $2.7 billion by 2026

According to the recent study the glass fiber in the global automotive composites market is projected to reach an estimated $2.7 billion by 2026, at a CAGR of 5.5% from 2021 to 2026. Growth in this market is primarily driven by increasing automotive production and growing demand for lightweight and durable materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions.

Browse 93 figures / charts and 76 tables in this 234 -page report to understand trends, opportunities and forecast in glass fiber in the global automotive composites market by application (interior, exterior, powertrain system/engine components, under the body, electrical and electronics, and others), intermediate material (SMC/BMC, LFT, SFT, CFT, phenolic molding compound, and others)and region (North America, Europe, Asia Pacific and Rest of the World).

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“SFT market is expected to remain the largest segment during the forecast period.”

Based on intermediate material, the glass fiber in the global automotive composites market is segmented into SMC/BMC, LFT, SFT, CFT, phenolic molding compound, and others. Lucintel forecasts that the SFT market is expected to remain the largest segment due to small complex shaped components in power train system/engine components applications.

“Within the glass fiber in the global automotive composites market, the powertrain system/ engine components segment is expected to remain the largest application”

Based on application the powertrain system/ engine components segment is expected to witness the highest growth over the forecast period due to growing demand for lightweight composite parts. Underbody system is expected to witness highest growth over the forecast period.

“Europe will dominate the glass fiber in the global automotive composites market in near future”

Europe is expected to remain the largest market due to higher penetration of composites in automotive than other region. APAC & ROW is also expected to witness the highest growth over the forecast period.

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Major players of glass fiber in the global automotive composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Owens Corning, Jushi Group, John’s Manville, CPIC, and Taishan Fiberglass are among the major glass fiber in the global automotive composites providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/glass-fiber-automotive-composites-market.aspx  or helpdesk@lucintel.com