• Blog
  • Automotive Under the Hood Composites Market Size, Share & Forecast (2018-2023)

    Automotive Under the Hood Composites Market Size, Share & Forecast (2018-2023)

    Automotive Under the Hood Composites Market Size, Share & Forecast (2018-2023)
    Report code - SRTI140 Published On : Jul,2018 No. of Pages: 240

    Automotive Under the Hood Composites Market Size, Share, Tre See more...

    Purchase Report
    notch

     

    Automotive Under the Hood Composites Market Insights

    Composites have been a game changer in the automotive industry for meeting the challenging requirements of the industry such as improving fuel economy and reducing carbon emissions. Stringent emission norms imposed by the governments of different countries are leading to a sharp increase in the demand for composite materials in the automotive industry. Today, composites are found in almost all major application areas including under the hood, exterior, and interior. Under the hood is the biggest application area, accounting for nearly 40% of the total automotive composites market.

    Between the two types of composites, thermoplastic and thermoset, thermoplastic composites are predominantly used in the automotive under the hood market. The continuously changing requirements of physical and mechanical properties of components located at different areas of a vehicle is leading to an improvement in the properties of existing materials as well as a shift towards high-performance materials. Components located at under the hood areas are prone to higher temperature and pressure as compared to the interior and exterior automotive components. This is leading to the entry of high-performance composites for under the hood components in the industry.

    One of the biggest trends in the automotive industry is engine downsizing. Engine downsizing elevates the temperature of under the hood as these engines run hotter. Furthermore, the space of the engine compartment is getting lessened as cars are getting more compact. In such high- temperature and -pressure environments, components made with conventional materials cannot reliably deliver performance as desired. Composite components have been proven not only in achieving greater fuel efficiency but also in delivering higher performance and long-term reliability.

    The automotive under the hood composites market is likely to grow at an impressive growth rate over the next five years to reach US$ 6,667.3 million in 2023. The auto industry has efficaciously been ushering in a new era of lightweight vehicles with a meticulous investment into composite components in under the hood areas that can address the changing business requirements in the most effective manner. All the major automakers have vigorously been incorporating composite components in their mass-selling vehicle models with the purpose to improve the overall fuel efficiency of vehicles in order to address stringent government regulations, such as CAFE Standards and EU Commission on Carbon Emissions Reduction Targets.

    Automotive Under the Hood Composites Market

     

    Automotive Under the Hood Composites Market Share Analysis

    Automotive Under the Hood Composites Market Share Analysis

    Automotive Under the Hood Composites Market Share by Vehicle Type

    The global automotive under the hood composites market is segmented based on the vehicle type as Passenger Car, LCV (Light Commercial Vehicle) and M&HCV (Medium- and Heavy-Duty Commercial Vehicle).  Passenger car is expected to remain the growth engine of the global automotive under the hood composites market during the forecast period of 2018 to 2023. Increasing production of passenger cars coupled with increasing penetration of composites in passenger cars is likely to elevate the demand for under the hood composites in the passenger car segment in the foreseeable future.

    Automotive Under the Hood Composites Market Share by Application Type

    Based on the application type, the automotive under the hood composites market is segmented as Air Intake Manifold, Radiator End Tank, Engine Cover, Engine Oil Pan, Ducts, Charge Air Cooler, and Others. Air intake manifold is likely to remain the largest application of composites in under the hood market during the forecast period. It is also the largest thermoplastic composite component in the automotive industry. Charge air cooler (includes end caps and end tanks) is likely to be the fastest-growing composite component in the automotive under the hood composites market during the same period.

    Automotive Under the Hood Composites Market Share by Resin Type

    Based on the resin type, the automotive under the hood composites market is segmented as Polyamide (PA) Composites, Polypropylene (PP) Composites, Polybutylene Terephthalate (PBT), Polyphenylene Sulphide (PPS), and Others. PA composite is expected to remain the largest resin type in the automotive under the hood composites market during the forecast period. Major under the hood composite components, such as air intake manifold, radiator end tank, and engine cover, are largely made with PA composites only, where PA6 and PA66 being the major resin grades.

    Regional Insights

    Based on region, Asia-Pacific is likely to remain the largest automotive under the hood composites market during the forecast period. Asia-Pacific is the largest automobile producer, accounting for more than 50% of vehicles produced worldwide. China and India are the growth engines of the regional demand for automobiles as well as composites for under the hood applications. North America and Europe are also likely to generate sizeable growth opportunities in the coming five years. 

    Key Players

    The supply chain of this market comprises raw material suppliers (fiber and resin), compounders, composite part manufacturers, automotive OEMs, dealers, and end-users. The key raw material suppliers for automotive under the hood composites market are Owens Corning, Johns Manville, BASF SE, DuPont, DSM, Lanxess AG, and Celanese Corporation, whereas the major under the hood composite component manufacturers are Aisin Seiki, Calsonic Kensai, Denso Corporation, MAHLE GmbH, Mann+Hummel, Magneti Marelli, and Röchling Group. Development of lightweight composite components and forming strategic alliances with the automakers are the key strategies adopted by the major players to gain a competitive edge in the market.

     

    Research Methodology

    For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

     

    Market Scope & Segmentation

    Research Scope

    Trend & Forecast Period

    2012-2023

    Size in 2023

    US$ 6,667.3 million

    Forecast

    4.5% CAGR during 2018-2023

    Regions Covered

    North America, Europe, Asia-Pacific, Rest of the World

    Countries/Subregions Covered

    The USA, Canada, Mexico, Germany, France, The UK, Russia, Italy, Russia, China, Japan, South Korea, India, Brazil, Argentina and Others

    Figures & Tables

    >150

    Customization

    Up to 10% customization available free of cost

     

    The market is segmented in the following ways:

    Automotive Under the Hood Composites Market Size, Share & Forecast by Vehicle Type:

    • Passenger Car
    • Light Commercial Vehicle
    • Medium- & Heavy-Duty Commercial Vehicle

    Automotive Under the Hood Composites Market Size, Share & Forecast by Application Type:

    • Air Intake Manifold
    • Radiator End Tank
    • Engine Cover
    • Engine Oil Pan
    • Ducts
    • Charge Air Cooler
    • Others

    Automotive Under the Hood Composites Market Size, Share & Forecast by Resin Type:

    • PA Composites
    • PP Composites
    • PBT Composites
    • PPS Composites
    • Others

    Automotive Under the Hood Composites Market Size, Share & Forecast by Manufacturing Process Type:

    • Injection-Molded Composites
    • Blow-Molded Composites
    • Others

    Automotive Under the Hood Composites Market Size, Share & Forecast by Region:

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Italy, Russia and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, South Korea, India, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

     

    Report Features

    This report, from Stratview Research, studies the global automotive under the hood composites market over the trend period 2012 to 2017 and forecast period 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

    The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.


    Frequently Asked Questions (FAQs)

    What is under the hood composite?

    Automotive under the hood composite refers to the composite material that is used to manufacture the automotive under the hood application area. Thermoplastic and thermoset are the two common types of automotive under the hood composite being used. Automotive under the hood composite is introduced with the strategy of improving the fuel efficiency of the vehicle and also controlling carbon emission. They cover a number of applications such as ducts, engine covers, radiator end tank, charge air coolers, and many others.

    What will be the size of the Under the Hood Composites Market in the foreseeable years?

    The automotive under the hood composites market is projected to reach an estimated value of US$ 6,667.3 million in 2023.

    Which country/region is expected to remain the largest Automotive Under the Hood Composites Market?

    In terms of region, Asia-Pacific expected to remain the largest automotive under the hood composites market during the forecast period of 2018-23.

    Who are the key players in the Automotive Under the Hood Composites Market?

    Aisin Seiki, Calsonic Kensai, Denso Corporation, MAHLE GmbH, Mann+Hummel, Magneti Marelli, and Rchling Group. are among the key players in the automotive under the hood composites market.

    •