According to market research firm Lucintel, although North American vehicle production fell from 2003 to 2008, there was greater demand for composites due to the necessity of improving fuel efficiency and vehicle durability while reducing the maintenance costs. Nevertheless, high cost and lack of cost-effective manufacturing process for high volume applications continue to be a limiting factor for composite materials in the automotive industry.
The report, Opportunities for Composites in the North American Automotive Market 2009-2014: Trends, Forecast and Opportunity Analysis, predicts that demand for reinforced thermoplastics in automotive applications will grow rapidly during the next five years.
