Growth in automotive composites market

The automotive composites market could grow from US$3.80 billion to over US$6 billion, according to a new report.

Global Market Insights suggests that this is due to growth in the electric vehicle industry, where lightweight material such as carbon fiber material is particularly suitable for interior car parts.

The report also suggests that the market value of automotive interior composites could be more than US$850 million by 2027.

There also will be growth in demand for thermoplastic resins for automotive applications due to their high impact resistance, easier molding capabilities and recyclability.

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