Report Id: SNS/C&M/2484 | July 2022 | Region: Global | 131 Pages
Report Scope & Overview:
Automotive Composites Market Size was valued at USD 7.7 billion in 2021, and expected to reach USD 16.4 billion by 2028, and grow at a CAGR of 11.3 % over the forecast period 2022-2028.
The automotive industry is in the process of responding to serious issues that have an impact on both users and the environment. Getting cars lighter to save on fuel is one of the main difficulties facing the automotive industry. Road transport vehicles are thought to be responsible for more than a quarter of all greenhouse gas emissions due to their high fuel consumption. The amount of fuel that cars use is significantly influenced by their weight. The worldwide automotive composites market is anticipated to be driven by rising consumer interest in energy security issues as well as rising consumer knowledge of alternative materials for automobiles.
An increase in demand for light, fuel-efficient automobiles.
Heightened environmental awareness and strict pollution prevention methods
High costs for production and processing.
Impact of Covid-19:
As a result of COVID-19, the market for automotive composites experienced a significant decline in 2020. Lockdowns enacted in various nations have had an effect on automakers, which has significantly contributed to the downfall of the automotive composites sector. The growth of the automotive composites market in 2020 has also been impacted by the closure of manufacturing facilities, a halt in production, and disruptions throughout the supply chain. However, it is anticipated that the industry will begin to rebound in 2021, notably in the Asia Pacific area, as demand for electric vehicles increases. In 2020, the lockdown-delayed projects that also had an impact on the growth of the automotive composites industry will resume, reviving the market's expansion.
Mitsubishi Chemical Holding Corporation (Japan), SGL Carbon (Germany), Hexion (US)Teijin Limited (Japan), UFP Technologies Ltd. (US), Hexcel Corporation (US), Toray Industries Inc. (Japan), Solvay SA (Belgium), Gurit (Switzerland) and Huntsman Corporation, and other players.
By Fiber Type:
By Resin Type:
By Manufacturing Process:
Resin Transfer Molding (RTM)
By Vehicle Type:
The increasing awareness of the negative environmental effects of burning fossil fuels and regional CO2 emissions limits are what are driving the North American automotive composites market. The growth of the North American automotive composites market has been facilitated by the expansion of technological advancements together with an increase in automobile production. The North American automotive composites industry is anticipated to be driven by strategic partnerships between automakers and carbon fibre and resin providers.
Europe: Due to the expansion of the automotive sector across the continent, the market for automotive composites in Europe is anticipated to have strong demand. Germany, the UK, France, and Russia are significant market growth drivers.
Asia-Pacific: Due to government initiatives in the region, Asia-Pacific is expected to lead the worldwide automotive composites market during the forecast period. However, it is projected that increasing manufacturing of electric vehicles would present profitable market expansion potential. Emerging economies like those in India, China, South Korea, and Australia have the greatest development potential. Due to the region's growing use of emission-free automobiles, Asia-Pacific has seen substantial growth in the automotive composites industry.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 7.7 Billion|
|Market Size by 2028||US$ 16.4 Billion|
|CAGR||CAGR of 11.3% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Fiber Type (Glass Fiber, Carbon Fiber, Others)
• By Resin Type (Thermoset, Thermoplastic)
• By Manufacturing Process (Compression Molding, Injection Molding, Resin Transfer Molding (RTM), Others)
• By Application (Exterior, Interior, Powertrain, Chassis)
• By Vehicle Type (Non-electric, Electric)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||Mitsubishi Chemical Holding Corporation (Japan), SGL Carbon (Germany), Hexion (US)Teijin Limited (Japan), UFP Technologies Ltd. (US), Hexcel Corporation (US), Toray Industries Inc. (Japan), Solvay SA (Belgium), Gurit (Switzerland) and Huntsman Corporation, and other players.|
|DRIVERS||• An increase in demand for light, fuel-efficient automobiles.
• Heightened environmental awareness and strict pollution prevention methods
|Restraints||• High costs for production and processing.|
Frequently Asked Questions (FAQ) :
Ans: Primary or secondary type of research done by this reports.
Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.
Ans: Mitsubishi Chemical Holding Corporation (Japan), SGL Carbon (Germany), Hexion (US)Teijin Limited (Japan), UFP Technologies Ltd. (US), Hexcel Corporation (US), Toray Industries Inc. (Japan), Solvay SA (Belgium), Gurit (Switzerland) and Huntsman Corporation are the major key players of Automotive Composites Market.
Ans: High costs for production and processing are the restraints for Automotive Composites Market.
Ans: Automotive Composites Market Size was valued at USD 7.7 billion in 2021, and expected to reach USD 16.4 billion by 2028, and grow at a CAGR of 11.3 % over the forecast period 2022-2028.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8.Automotive Composites Market Segment, By Fiber Type
8.1 Glass Fiber
8.2 Carbon Fiber
9.Automotive Composites Market Segment, By Resin Type
10.Automotive Composites Market Segment, By Manufacturing Process
10.1 Compression Molding
10.2 Injection Molding
10.3 Resin Transfer Molding (RTM)
11.Automotive Composites Market Segment, By Application
12.Automotive Composites Market Segment, By Vehicle Type:
13. Regional Analysis
13.2 North America
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4.2 South Korea
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.3 South Africa
13.6 Latin America
13.6.3 Rest of Latin America
14. Company Profile
14.1 Mitsubishi Chemical Holding Corporation (Japan)
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 SGL Carbon (Germany)
14.3 Hexion (US)
14.4 Teijin Limited (Japan)
14.5 UFP Technologies Ltd. (US)
14.6 Hexcel Corporation (US)
14.7 Toray Industries Inc. (Japan)
14.8 Solvay SA (Belgium)
14.9 Gurit (Switzerland)
14.10 Huntsman Corporation (US)
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments
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