Annual Compound Growth Rate of Global Automobile Glass Fiber Composites to Reach 9.5% in 2015-2022

The existence of automobile provides many conveniences for people's life, and with the constant innovation and development of science and technology, automobile has various styles and its manufacturing materials also have a major breakthrough.

For ordinary passenger cars, the weight of nonmetal materials account for about a third, and some models may be more. And the non-metallic materials include glass fiber composites, fiber reinforced composites, rubber, fabric, leather, adhesive, safety glass, paper, wood and so on, more than 10 kinds of materials.

It is reported that the measures of European Commission to improve fuel efficiency are expected to bring positive influence for automobile glass fiber composites industry growth. At the same time, the growth of China, India and Japan's auto production and the sales in southeast Asia, both will become the important driving forces for improving the demand for automobile compound materials.

According to a report released lately, the automobile plastic market value is expected to reach $53 billion by 2022, thanks to drive train and the growth of application demand.

In 2014, the electrical components and automotive interior & exterior account for more than 70% in the regional sales. The other important figures released in this report include: The market output of global automobile glass fiber composite materials is 8.69 million tons in 2014, and in 2015-2022, the annual compound growth rate is expected to reach 9.5%. The usage amount of glass fiber composite materials in the electrical housing, sensors, lighting system, switch, socket and displayer is growing.

In short, glass fiber composites are increasingly used in automobile parts as metal and alloy substitutes, in order to reduce the overall vehicle weight and improve the performance and resistance to chemical corrosion parts. The automotive plastics market value will be further expanded. More glass fiber products will be needed. If you are interested in high quality glass fiber products, please click the following links to learn more: Zhengzhou Zhongyu Metallic Materials Co. Ltd. and Nantong Huixin Glass Fiber Co., Ltd.