404
Automotive Composites Market Report
Automotive Composites Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- and Heavy-Duty Commercial Vehicle), by Application Type (Interior, Exterior, Under the Hood, and Others), by Reinforcement Type (Glass Fiber Composites and Carbon Fiber Composites), by Matrix Type (Polyester Composites, Polyamide Composites, Polypropylene Composites, Epoxy Composites, and Others), by Process Type (Resin Infusion, Compression Molding, Injection Molding, Filament Winding, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World)
Automotive Composites Market is Segmented by Vehicle Type (Passenger Car, Light Commercial Vehicle, and Medium- and Heavy-Duty Commercial Vehicle), by Application Type (Interior, Exterior, Under the Hood, and Others), by Reinforcement Type...
Enquiry Form
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
See less...Covid-19 has impacted the market dynamics, competition, and global...
See more...Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues has gone down in 2020 and may resume an uptrend gradually form 2021. Companies optimizing their operation and statergy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
Automotive composites market size is projected to reach an estimated value of US$ 15.6 billion in 2024. In the coming five years, the growth rate of composites in automotive is likely to outpace the growth rate of the automotive industry, catching the significant attention of the industry stakeholders.
In recent years, the market for automotive composites has witnessed fair consolidation as the major players are acquiring other medium and small players with an aim to enhance their product portfolio and expand their geographical reach.
Some of the foremost mergers & acquisitions that took place in the market include
"High production of passenger car coupled with good composites penetration makes the segment dominant."
The automotive composites market is broadly segmented based on vehicle type as Passenger Car, LCV, and M&HCV. Passenger car is expected to remain the growth engine of the automotive composites market during the forecast period. The high production of cars coupled with good composites penetration is the prime factor behind the dominance of the passenger car segment in the automotive composites market.
"Composites are are increasingly being used in newer applications."
Composites are used in all major application areas in the automotive industry, such as interiors, exteriors, and under the hood. Composites have the highest level of penetration in under-the-hood application areas, such as air intake manifold, radiator end tanks, engine oil pan, engine cover, aero ducts, and charge-air-cooler end caps. Temperature and heat resistance are the major requirements of the materials used in under-the-hood applications. Amongst resins, polyamide resin is the perennial choice as it can withstand temperature about 260°C and is lightweight, resistant to road salt and engine fluids, and offers excellent mechanical properties.
Exterior applications of composites generally include large-sized components and are relying more on LFRT and SMC compounds, unlike the under-the-hood segment that predominantly uses SFRT compounds. Front-end module, fender, bumper, liftgate, door module, and hood are key applications of composites in exteriors. Apart from interior, exterior, and under the hood, composite materials are also gaining sheer interest in various other applications such as leaf springs, pressure vessels, underbody shield, and driveshaft.
"Glass fiber composites dominant owing to their impressive price-performance ratio"
Based on the reinforcement type, the automotive composites market is segmented as glass fiber composites and carbon fiber composites. Glass fiber composite is expected to remain the dominant segment of the market during the forecast period, whereas carbon fiber composite is likely to grow at a faster rate during the same period. Glass fiber offers unmatched price-performance ratio and competes well with steel and aluminum in most of the automotive applications. The reinforcement type offers many advantages, such as low cost, moderate mechanical performance, and good chemical and corrosion resistance.
"Polyamides for under-the-hood components & Polyesters for exterior applications are the materials of choice."
The report also deeply studies the different resin types in the market. Polyester, polyamide (PA), polypropylene (PP), and epoxy are the major resin types considered in the report. Different resin materials are preferred choices for different applications and are used in different product forms. For instance, polyamide is the material of choice in under-the-hood components, such as air intake manifolds, radiator end tanks, engine covers, charge-air-cooler end caps, and engine oil pans.
Polyamide composites are generally used in the form of SFTs and LFRTs, primarily through the injection molding process. On the other hand, polyester composites are predominantly used resin types for exterior composite applications such as fender, hood, bumper, and pick-up box. Polyester composites are primarily used in the form of SMCs and BMCs through either compression or injection molding process.
"Europe & North America Dominate the Market."
In terms of regions, Europe and North America capture a large chunk of the global automotive composites market. The average composite content per vehicle is higher in Europe and North America as compared to the Asia-Pacific region, which led to a low share of Asia-Pacific despite being the largest vehicle producer across the globe. The USA, Canada, Mexico, Germany, France, China, and Japan are some key countries across the globe, accounting for a significant share in the market.
The supply chain of this market is convoluted and comprises several nodes including raw material suppliers, composite material manufacturers, compounders, distributors, part fabricators, tier players, and OEMs.
The key automotive composite manufacturers are
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.
Automotive composites are made up of fibers, such as glass fiber and carbon fiber, which are impregnated with a resin system (thermoset or thermoplastic) using various manufacturing processes. Composites are preferably used in the form of the compounds in the automotive industry. Short fiber-reinforced thermoplastics (SFTs), long fiber-reinforced thermoplastics (LFRTs), glass mat thermoplastics (GMTs), sheet molding compounds (SMCs), and bulk molding compounds (BMCs) are the key compound types, used in the industry.
The automotive industry is undergoing the most potentially disruptive decade where stringent regulations imposed by regulatory authorities on automakers are compelling them to increasingly incorporate advanced materials to make the vehicle lighter in order to increase the fuel efficiency or to reduce the carbon emissions. Composites offer significant weight savings as compared to metals including steel and aluminum. Amongst composite materials, carbon fiber offers the maximum weight saving advantage along with exceptional mechanical performance.
Research Scope |
|
Trend & Forecast Period |
2013-2024 |
Size in 2024 |
US$ 15.6 billion |
Forecast |
6.3% CAGR during 2019-2024 |
Regions Covered |
North America, Europe, Asia-Pacific, Rest of the World |
Countries/Subregions Covered |
The USA, Canada, Mexico, Germany, France, The UK, Italy, Russia, China, Japan, South Korea, India, Brazil, Argentina and Others |
Figures & Tables |
>150 |
Customization |
Up to 10% customization available free of cost |
Want a free sample of the report? Click here
The market is segmented in the following ways:
Stratview Research continues its voyage in developing comprehensive market reports on the attractive subjects in the Composites Industry Domain. After conducting a deep-dive study on automotive under-the-hood composites market and automotive exterior composites market, this time, we have come up with a full-fledged comprehensive report on Automotive Composites Market. The report is designed in such a way that it offers the maximum benefits to market stakeholders including raw material suppliers, composite material manufacturers, compounders, and investors, with regard to the identification of low-hanging fruits and formulation of growth strategies.
The following are the key features of the report:
Automotive composite parts are made up of fibers, such as glass fiber and carbon fiber, which are impregnated with a resin system (thermoset or thermoplastic) using various manufacturing processes. Composites are preferably used in the form of the compounds in the automotive industry.
Driven by a number of factors like a shift towards all-composites parts; a significant reduction in number of parts, the automotive composites market is projected to reach an estimated value of US$ 15.6 billion in 2024.
Europe and North America capture a large chunk of the global automotive composites market. The average composite content per vehicle is higher in Europe and North America as compared to the Asia-Pacific region, which led to a low share of Asia-Pacific despite being the largest vehicle producer across the globe.
Ashland Global Holdings Inc., AOC, LLC , BASF SE, Continental Structural Plastics Inc. (CSP), Solvay S.A., Koninklijke DSM N.V., E. I. du Pont de Nemours and Company, Hexion Inc., Huntsman Corporation, Lanxess GmbH, SABIC (Saudi Basic Industries Corporation) , Toray Industries, Inc., and Owens Corning Corporation. are among the key players in the Automotive Composites Market.
Related Reports
Why are We Class Apart?
We Track Fast-Changing Market Dynamics for Clients
Our Intelligence is Powered by Industry Voice
>60% of the First Buyers Come Back to Us
>95% Client Satisfaction Ratio, the Industry's Highest
We Serve Companies Across the Value Chain
Know High Growth Opportunities
Billing Information
404
We are sorry, Page not found!
The page you are looking for might have been removed had its name changed or is temporarily unavailable.
Back To HomepageMarket Research Reports | Consulting | Insights | Blog | Conferences | Careers | Subscribe | Sitemap | XML
Disclaimer | T&C - Privacy Policy | Cookies | Unsubscribe
© Copyright 2019 Stratview Research. Trademark of Radiant Offshore Consultancy LLP. All Rights Reserved.
Don't want insights worth $20,000 for free?
Give it a Thought!
We are offering insights worth more than $20,000 for Free! Only for registered users.
You will get access to :
Decision Makers / CXO Level Professionals from leading organizations have already started registering!
You can cancel your registration anytime with a single click