Product ID: UCMIG15E2522
Report ID:
UCMIG15E2522 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Having attained a valuation of approximately USD 6.40 billion in 2016, the global automotive polymer composites market has established a robust foundation for growth. The market's trajectory is poised for a significant uptick, with projections indicating a climb to USD 11.62 billion by 2025. This expansion is expected to transpire at an estimated compound annual growth rate (CAGR) of 6.8% during the forecast period. The upsurge can be attributed to escalating demand for lightweight and high-strength materials in the automotive sector, driven by the pursuit of enhanced fuel efficiency and reduced emissions. As polymer composites continue to make substantial strides in meeting these industry requirements, their integration into various automotive applications is anticipated to underpin the market's steady ascent in the years ahead.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Specialty Chemicals by segment aggregation, the contribution of the Specialty Chemicals in Diversified Materials and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
The Automotive Polymer Composites Market is segmented by Resin, Composite Product (Volume, Tons; Revenue, USD Million, 2014 - 2025), Application (Volume, Tons; Revenue, USD Million, 2014 - 2025), End-use (Volume, Tons; Revenue, USD Million, 2014 - 2025), Regional (Volume, Tons; Revenue, USD Million, 2014 - 2025). We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Automotive Polymer Composites Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Automotive Polymer Composites Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Automotive Polymer Composites Market's supply chain, distribution, and total revenue growth.
To understand the competitive landscape, we are analyzing key Automotive Polymer Composites Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Automotive Polymer Composites Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
The Automotive Polymer Composites Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
Report Attribute | Details |
---|---|
The base year for estimation | 2021 |
Historical data | 2016 – 2022 |
Forecast period | 2022 – 2028 |
Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
Segments covered |
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Regional scope | North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) |
Country scope | U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa |
Key companies profiled |
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Customization scope | Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Reap the benefits of customized purchase options to fit your specific research requirements. |
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Automotive Polymer Composites Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Automotive Polymer Composites Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Automotive Polymer Composites Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Automotive Polymer Composites Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONThe global market for Automotive Polymer Composites was estimated to be valued at US$ XX Mn in 2021.
The global Automotive Polymer Composites Market is estimated to grow at a CAGR of XX% by 2028.
The global Automotive Polymer Composites Market is segmented on the basis of Resin, Composite Product (Volume, Tons; Revenue, USD Million, 2014 - 2025), Application (Volume, Tons; Revenue, USD Million, 2014 - 2025), End-use (Volume, Tons; Revenue, USD Million, 2014 - 2025), Regional (Volume, Tons; Revenue, USD Million, 2014 - 2025).
Based on region, the global Automotive Polymer Composites Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key players operating in the global Automotive Polymer Composites Market are rview , The global automotive polymer composites market size was valued at USD 6.40 billion in 2016 and is expected to reach USD 11.62 billion by 2025, expanding at an estimated CAGR of 6.8% over the forecast period. The market is characterized by the presence of large-scale automobile production and stringent regulations implemented in the automobile industry. , The auto industry is witnessing challenges in aligning their production or assembly processes with enhanced material properties and innovative product design, specifically for large-volume production facilities. Although aluminum and steel are more successful in reducing the weight of a vehicle, high-performance FRP composites can potentially outperform both aluminum and steel. The high cost of reinforcing materials, high processing costs, costly recycling processes, and the absence of mass production methods are some of the factors likely to restrain the market growth. , Enhancing the end-of-life value of composites through optimum recycling is likely to prove beneficial in improving the overall Life-cycle Assessment (LCA) score of composites. The EU End-of-Life Vehicle Directive for cars stipulates mandatory use and recycling 85% of vehicle components, although energy recovery of polymers is not considered as recycling. , Rising demand for fuel-efficient vehicles and increasing production of lightweight automobile components are some of the factors anticipated to prompt manufacturers to opt for backward integration in the value chain. Greater participation across the value chain is expected to result in the reduction of time required to transform raw materials into finished products, which, in turn, is likely to help in gaining cost advantage. Automotive composite manufacturers are expanding their production capacities and focusing on improving infrastructure to cater to growing market demand. , Resin Insights , Polyamide, also known as nylon 6, exhibits superior resistance to abrasion and chemicals, which makes it a suitable material for applications requiring dimensional stability. Therefore, this resin type is used in gear and bushes. Polystyrene, despite being popular and easy to manufacture, exhibits poor resistance to UV light. Polyethylene is further categorized into Low-Density Polyethylene (LDPE) and High-Density Polyethylene (HDPE). , Polyurethane composites exhibit superior physical and mechanical properties such as lightweight, durability, flexibility, stability, and resistance to temperature and moisture. These factors are prompting automotive manufacturers to increase the adoption of such materials. Polyurethane composites are used in Structural RIM (SRIM) automotive exterior and interior parts such as inner door panels, roof modules, flaps, and lids. , Polypropylene composites are widely used in automotive components owing to low cost, chemical resistance, and UV stability. These are less costly in comparison to Acrylonitrile-butadiene-styrene (ABS) and Polycarbonate (PC). Due to UV stabilization, polypropylene composite parts do not require painting, which, in turn, reduces the cost of components by eliminating the painting process and improving the recyclability of vehicle parts. , Composite Product Insights , The automotive polymer composites market has recently witnessed the penetration of hybrid designs of carbon and glass fiber reinforced products. For exterior employment, product laminates, which contain 50% carbon-fiber reinforcement, exhibit optimum flexural properties, whereas alternating glass/carbon lay-up assembly offers high compressive strength. , Fiberglass is mainly used to reduce the weight of a vehicle. Moreover, high tensile strength gives it an edge over other metals. Fiberglass is used in external body parts and dashboards. A shift in the trend toward the replacement of conventional heavy-weight metals with lightweight fiberglass for the manufacturing of automobiles is expected to drive the market over the forecast period. , Key players are establishing themselves across the value chain from raw material production, manufacturing, and distribution to maintaining the quality of raw material and gaining competitive advantage in terms of cost benefits with an increased profit margin. Technological advancements and research and development activities have become essential for companies to perform in the market owing to intense competition, rapid technological changes, and highly demanding customers. , Carbon fiber is expected to be the fastest-growing product owing to its strength and thickness. Carbon fibers are manufactured by aligning carbon atoms parallel to the long axis of the fiber. The process of aligning the fiber axis with carbon atom requires special-purpose material handling equipment and skilled labor. The inexpensive nature and unique strength of steel make it a suitable material. Crashworthiness is an important criterion in the selection of raw materials for use as an automotive lightweight material. , Application Insights , Epoxy resin has been in use as a structural glue for over 30 years in the automotive sector, one that replaces the necessity for welding. It is widely preferred by auto manufacturers owing to properties such as mechanical strength, heat resistance, and adhesion to metals. These properties help keep the car bodywork from corrosion and other damages. Epoxy resins are used as a coating for the car body, usually through Cathodic Electro Deposition (CED). , Polyurethanes are favored for achieving real-time benefits in terms of comfort, protection, and energy conservation. Durability, lightweight, and high strength make them an ideal material for use in interior cushioning as well as heat and noise insulation. Polyvinyl chloride has shown good resistance to chemical and solvent attacks. The vinyl content in polyvinyl chloride gives it good tensile strength, triggering its applications in automotive instrument panels, sheathing of electrical cables, pipes, and doors. , Advanced materials are yet to be widely recognized for their benefits such as lightweight and superior corrosion resistance. At present, the industry is making investments to upgrade the process for molding polymer composites using various forms of conventional E-glass in mid-level performance resins, namely thermosets and thermoplastics. , End-use Insights , Electric vehicles are a combination of modern automotive technologies and lightweight automotive components. Composites are major components used in the production of electrical vehicles. The electric vehicles segment has some special requirements such as lightweight crashworthiness along with the Internet of Things (IoT). , Hybrid vehicles include a combination of two or more power sources. Switching power between two engine types reduces pollution and helps in saving fuel. Hybrid cars are generally more aerodynamic and lighter. The combustion engine in such vehicles is smaller in comparison to conventional vehicles. Hybrid vehicle manufacturers use lightweight materials to reduce weight and increase fuel efficiency. They are used in many parts of hybrid vehicles such as hoods, fenders, decklids, battery modules, floor pans, trunk compartments, and bumper beams. , Massive investments by EU in projects such as Composite Structural Power Storage for Hybrid Vehicles (STORAGE) and the introduction of several novel technologies are likely to benefit the industry. These technologies include improvement in the composition of multifunctional resin for supercapacitors, carbon aerogel reinforcements, and a mixture of epoxy resins and liquid electrolytes for matrix development. These advancements are projected to drive the demand for automotive polymer composites in electric vehicles. , Manufacturing Process Insights , Compression molding is a high-volume and high-pressure process, which is usually suitable for molding complex and high-strength fiberglass reinforcements. The benefits of compression molding include the capability to mold large and complex parts. The technique produces lesser knit lines and reduces fiber-length degradation in comparison to the injection molding method. , Injection molding plastics is the fastest-growing manufacturing process segment in the automotive polymer composites market. The process involves the manufacturing of molded products by injecting molten plastic materials into a mold and then solidifying them. Polyethylene, polypropylene, polyurethane, and others are the basic raw materials used in the production of automotive lightweight material. , Sheet Molding Compounds (SMC) or Sheet Molding Composites are both a process and reinforced composite material. They are a mixture of polyester resin and chopped glass strands in the form of a sheet. Compression or injection molding methods are used for the development of these compounds, which are further used to produce bodywork or structural automotive parts in large industrial volumes. , Regional Insights , In 2016, Asia Pacific accounted for the largest market share in the automotive industry. The availability of low-cost raw materials, cheap labor, supportive government policies, and the presence of many untapped markets in emerging economies are factors driving the market growth. Steel is a major raw material used in the automotive lightweight materials industry. China, India, and Japan are the world’s top three steel producers. Automobile companies are establishing production facilities in this region to gain a competitive advantage in terms of low production cost and proximity to end-use markets. , In North America, composites are widely used in automotive applications. Chevrolet and Ford are major users of CFRP within the region. Chevrolet Corvette Stingray, Ford Viper SRT, and Mustang Shelby GT500KR are models that account for maximum usage of CFRP in North America. These are supplied by Plasan Carbon Composites to OEMs. Viper, Corvette, and Mustang use 26.7 kg, 15.5 kg, and 2.9 kg of composites, respectively. , High purchasing power, better infrastructure, and a high standard of living are some of the major advantages in the German economy. Population growth and rise in consumer income are anticipated to drive the overall demand for high-end products in Germany over the forecast period. The country accounted for approximately 28% of the total European automotive production in 2016. Increasing disposable income is boosting the purchasing power of consumers, thereby triggering demand for luxurious, comfortable, innovative, and environment-friendly products. , The growing population in the country has triggered the influx of new consumers, which helps the industry in expanding its operations and aids manufacturers in developing their consumer base by attracting new consumers with new offerings. Factors such as growth in the consumer segment and development in automotive production are likely to boost the automotive polymer composites market. , Market Share Insights , Governments in various countries including Japan, U.S., Canada, China, South Korea, Mexico, Brazil, and India have issued fuel economy or greenhouse gas emission standards for passenger vehicles and light commercial vehicles or light trucks. Established regulations in Europe and North America have propelled the demand for composites from automotive manufacturers in these regions. Proposed regulations in these countries are expected to further fuel demand over the next eight years. , In 2016, the automotive polymer composites industry witnessed the involvement of market participants in umpteen strategic development plans, such as the acquisition of TenCate by Tennessee Acquisition B.V., Owens Corning’s facility expansion initiative in India, acquisition of GETRAG Group by Magna International, and introduction of Toho Tenax’s new integrated production system for CFRP. , KEY MARKET SEGMENTS, By Resin, Epoxy , Polyurethane , Polyamide , Polypropylene , Polyethylene , Polyester , Vinyl Ester , Others , By Composite Product (Volume, Tons; Revenue, USD Million, 2014 - 2025) , Carbon Fiber , Glass Fiber , Natural Fiber , By Application (Volume, Tons; Revenue, USD Million, 2014 - 2025) , Interior Components , Exterior Components , Structural Components , Powertrain Components , By End-use (Volume, Tons; Revenue, USD Million, 2014 - 2025) , Conventional Vehicles , Electric Vehicles , Trucks & Buses , Manufacturing Process (Volume, Tons; Revenue, USD Million, 2014 - 2025) , Compression Molding , Injection Molding , Sheet Molding , Resin Transfer Molding , By Regional (Volume, Tons; Revenue, USD Million, 2014 - 2025) , North America , The U.S. , Canada , Mexico , Europe , Germany , U.K. , France , Spain , Asia Pacific , China , India , Japan , Taiwan , Central & South America , Middle East & Africa , KEY MARKET SEGMENTS, Dow Automotive Systems , Bayer Corporation , 3M , Hexcel , Toray , Teijin".
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Product ID: UCMIG15E2522