Industry Convergence Powering the Global Automotive Composites Market

Industry Convergence Powering the Global Automotive Composites Market

Innovation Culture Driving Transformational Growth Through Efficacious Alternatives and Enhanced Collaborative Metal Replacement Initiatives

RELEASE DATE
26-Aug-2020
REGION
Global
Research Code: MF65-01-00-00-00
SKU: CM01805-GL-MT_24678

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Description

The global analysis of the automotive composites market quantifies the consumption of polymeric composites for automotive applications, and intends to gauge the level of impact that industry developments and trends?including tightening standards, evolving regulations, upsurge in electric vehicle (EV) sales, and increasing shift in consumer preferences?are expected to have on the uptake of composites and the demand for individual materials during the period 2019–2026. The study also presents historical volumes and revenues across segments for the period 2016–2019.

The study analyzes the automotive composites market focusing on 2 key material types, namely thermoplastic composites and thermoset composites. Furthermore, the study analyses the overall automotive composites market on the basis of reinforcing fiber types through 3 segments, namely glass fiber reinforced polymer (CFRP), carbon fiber reinforced polymer (CFRP), and natural fiber reinforced polymer (NFRP). On the basis of applications, the study comprises 3 key segments, namely interior, exterior, and under-the-hood (UTH). The study covers each of the 2 material type segments (thermoplastics and thermosets) on the basis of fiber types and applications. It also quantifies the consumption of each of these segment types on the basis of a robust methodology, comprising analysis of the regional automotive production, average vehicle weight, uptake of individual composites, and prospects for individual materials during the forecast period.

While the global automotive market continued to grapple with faltering sales in the past year and a half, the spread of COVID-19 across the world and the entailing supply- and demand-side disruptions are expected to result in a sharp plunge in the overall automotive production and, hence, the composites demand in the short term. Global automotive sales are expected to plummet by more than 20% in 2020 from that in 2019. Although the market is expected to recover from 2021, the sales volumes are slated to surpass 2019 volumes during the second half of the forecast period. However, the ever-stringent fuel efficiency- and emissions-related regulations are expected to continue driving the uptake of light-weight materials, including composites for a wide range of automotive applications. Moreover, rapid electrification is expected to have a significant impact on material-mix of composites, as well as application dynamics.

While the average weight of conventional metals such as steel and aluminum is on the decline, the use of advanced grades of these metals has been on an upward trend, especially in structural applications. Plastics and composites are unlikely to completely displace conventional materials in such critical applications. The use of hybrid composites and localized use of metals and composites are expected to create growth opportunities for composites during the forecast period.

Continuous fiber reinforced composites are increasingly emerging as an attractive alternative to conventional materials to effect light-weighting across a variety of automotive applications such as front-end modules, seat shells, cross beams, door structures, underbody panels, and A and B pillars. Similarly, long-fiber reinforced thermoplastics (LFTs) are finding increasing use as alternatives both to conventional metals and short fiber grades, owing to higher strength, impact resistance, and superior component durability.

While the much-talked about carbon fiber composites exhibit superior light-weighting potential and higher strength and load-bearing capabilities to comply with changing regulatory requirements, these advanced composites have penetrated only a small volume share, owing to their exorbitant prices, elaborate processing, and high tooling costs. However, reducing carbon fiber prices and the availability of recycled carbon fibers are slated to drive increased adoption, especially during the second half of the forecast period.

The global automotive composites market is composed of several large participants operating across key regions and numerous mid-sized companies operating at regional and domestic levels. The focus on strengthening supply capabilities and efficacious, cost-effective solutions that ensure weight reduction without impacting cost and cycle times continues to drive product and application development efforts. Moreover, incumbents have been actively engaging in vertical and horizontal integration activities to derive growth and avail cost synergies.

Frost & Sullivan analysis indicates that the global automotive composites market is slated to register a moderate single-digit growth of approximately 4.7% in terms of revenue during the period 2019–2026.

Author: Gautam Rashingkar

RESEARCH: INFOGRAPHIC

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Table of Contents

Key Findings

Strategic Factsheet

Market Engineering Measurements

CEO’s Perspective

Market Scope

Market Segmentation

Market Definitions

Market Definitions (continued)

Market Definitions (continued)

Market Definitions (continued)

Market Definitions (continued)

Geographic Scope

Key Questions this Study will Answer

Percent Revenue Forecast by Region

Automotive Market Trends

Automotive Market Trends (continued)

Automotive Market—Material Challenges

Automotive Composites—Material Trends

Automotive Composites—Material Requirements

Applications of Materials Used in Automobiles

Comparison of Characteristics of Materials Used

Comparative Outlook of Automotive Materials

Comparative Outlook of Automotive Materials (continued)

Thermoset Composites

Automotive Composites—Weight Reduction Potential per Application

Automotive Composites—Requirements and Materials

Automotive Composites—Weight Saving Potential

Market Drivers

Drivers Explained

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Drivers Explained (continued)

Market Restraints

Restraints Explained

Restraints Explained (continued)

Drivers and Restraints—Impact Assessment

Market Engineering Measurements

Forecast Assumptions

Revenue Forecast

Volume Shipment Forecast

Pricing Trends and Forecast

Volume Shipment and Revenue Forecast Discussion

Volume Shipment and Revenue Forecast—Thermoplastic Materials Segment

Volume Shipment and Revenue Forecast—Thermoset Materials Segment

Volume Shipment and Revenue Forecast Discussion by Material Type

Percent Revenue Forecast by Material Type

Percent Volume Shipment Forecast by Material Type

Volume Shipment and Revenue Forecast Discussion—Material Type Segments

Attractiveness Analysis by Material Type

Product Attributes

Percent Revenue Forecast by Fiber Type

Revenue Forecast by Fiber Type

Percent Volume Shipment Forecast by Fiber Type

Volume Shipment Forecast by Fiber Type

Forecast Discussion by Fiber Type—GFRP

Forecast Discussion by Fiber Type—CFRP

Forecast Discussion by Fiber Type—NFRP

Attractiveness Analysis by Fiber Type

Material Trends in the Automotive Market

Percent Revenue Forecast by Application

Revenue Forecast by Application

Percent Volume Shipment Forecast by Application

Volume Shipment Forecast by Application

Forecast Discussion by Application—Interior

Forecast Discussion by Application—Exterior

Forecast Discussion by Application—UTH and Structural

Attractiveness Analysis by Application

Percent Revenue Forecast by Region

Revenue Forecast by Region

Percent Volume Shipment Forecast by Region

Volume Shipment Forecast by Region

Revenue Forecast Discussion by Region—Americas

Revenue Forecast Discussion by Region—Europe

Revenue Forecast Discussion by Region—APAC

Revenue Forecast Discussion by Region—MEASA

Attractiveness Analysis by Region

Market Trends

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Market Trends (continued)

Value Chain

Value Chain Description

Value Chain—Competitive Structure

Value Chain—Key Participants

Company-Product Matrix

Growth Opportunity 1—Cost-effective yet Efficacious Means of Weight Reduction: Hybrid Composites

Growth Opportunity 2—Strengthening Portfolio Through M&As or New Investments

Growth Opportunity 3—Recycling and End-of-life Management

Growth Opportunity 4—Focus on Next-generation Manufacturing Technologies: 3D Printing

Strategic Imperatives for Success and Growth

Characteristics and Overview

Market Engineering Measurements

Revenue Forecast

Volume Shipment Forecast

Volume Shipment and Revenue Forecast Discussion

Pricing Trends and Forecast

Pricing Trends and Forecast Discussion

Percent Volume Shipment Forecast by Material Sub-type

Percent Volume Shipment Forecast by Application

Volume Shipment Forecast by Application

Volume Shipment and Revenue Forecast Discussion by Application

Percent Volume Shipment Forecast by Fiber Type

Volume Shipment Forecast by Fiber Type

Volume Shipment and Revenue Forecast Discussion by Fiber Type

Competitive Environment

Characteristics and Overview

Market Engineering Measurements

Revenue Forecast

Volume Shipment Forecast

Volume Shipment and Revenue Forecast Discussion

Pricing Trends and Forecast

Pricing Trends and Forecast Discussion

Percent Volume Shipment Forecast by Material Sub-type

Percent Volume Shipment Forecast by Application

Volume Shipment Forecast by Application

Volume Shipment and Revenue Forecast Discussion by Application

Percent Volume Shipment Forecast by Fiber Type

Volume Shipment Forecast by Fiber Type

Volume Shipment and Revenue Forecast Discussion by Fiber Type

Competitive Environment

The Last Word—3 Big Predictions

Global Carbon Fibers Market—Unit Shipment

Global Carbon Fiber Production Capacity Share by Companies in 2019

Global Carbon Fiber Production Process Flow and Cost Structure

Legal Disclaimer

Market Engineering Methodology

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

Related Research
The global analysis of the automotive composites market quantifies the consumption of polymeric composites for automotive applications, and intends to gauge the level of impact that industry developments and trendsincluding tightening standards, evolving regulations, upsurge in electric vehicle (EV) sales, and increasing shift in consumer preferencesare expected to have on the uptake of composites and the demand for individual materials during the period 2019–2026. The study also presents historical volumes and revenues across segments for the period 2016–2019. The study analyzes the automotive composites market focusing on 2 key material types, namely thermoplastic composites and thermoset composites. Furthermore, the study analyses the overall automotive composites market on the basis of reinforcing fiber types through 3 segments, namely glass fiber reinforced polymer (CFRP), carbon fiber reinforced polymer (CFRP), and natural fiber reinforced polymer (NFRP). On the basis of applications, the study comprises 3 key segments, namely interior, exterior, and under-the-hood (UTH). The study covers each of the 2 material type segments (thermoplastics and thermosets) on the basis of fiber types and applications. It also quantifies the consumption of each of these segment types on the basis of a robust methodology, comprising analysis of the regional automotive production, average vehicle weight, uptake of individual composites, and prospects for individual materials during the forecast period. While the global automotive market continued to grapple with faltering sales in the past year and a half, the spread of COVID-19 across the world and the entailing supply- and demand-side disruptions are expected to result in a sharp plunge in the overall automotive production and, hence, the composites demand in the short term. Global automotive sales are expected to plummet by more than 20% in 2020 from that in 2019. Although the market is expected to recover from 2021, the sales volumes are slated to surpass 2019 volumes during the second half of the forecast period. However, the ever-stringent fuel efficiency- and emissions-related regulations are expected to continue driving the uptake of light-weight materials, including composites for a wide range of automotive applications. Moreover, rapid electrification is expected to have a significant impact on material-mix of composites, as well as application dynamics. While the average weight of conventional metals such as steel and aluminum is on the decline, the use of advanced grades of these metals has been on an upward trend, especially in structural applications. Plastics and composites are unlikely to completely displace conventional materials in such critical applications. The use of hybrid composites and localized use of metals and composites are expected to create growth opportunities for composites during the forecast period. Continuous fiber reinforced composites are increasingly emerging as an attractive alternative to conventional materials to effect light-weighting across a variety of automotive applications such as front-end modules, seat shells, cross beams, door structures, underbody panels, and A and B pillars. Similarly, long-fiber reinforced thermoplastics (LFTs) are finding increasing use as alternatives both to conventional metals and short fiber grades, owing to higher strength, impact resistance, and superior component durability. While the much-talked about carbon fiber composites exhibit superior light-weighting potential and higher strength and load-bearing capabilities to comply with changing regulatory requirements, these advanced composites have penetrated only a small volume share, owing to their exorbitant prices, elaborate processing, and high tooling costs. However, reducing carbon fiber prices and the availability of recycled carbon fibers are slated to drive increased adoption, especially during the second half of the forecast period. The global automotive composites market is composed of several large participants operating across key regions and numerous mid-sized companies operating at regional and domestic levels. The focus on strengthening supply capabilities and efficacious, cost-effective solutions that ensure weight reduction without impacting cost and cycle times continues to drive product and application development efforts. Moreover, incumbents have been actively engaging in vertical and horizontal integration activities to derive growth and avail cost synergies. Frost & Sullivan analysis indicates that the global automotive composites market is slated to register a moderate single-digit growth of approximately 4.7% in terms of revenue during the period 2019–2026. Author: Gautam Rashingkar
More Information
No Index No
Podcast No
Author Gautam Rashingkar
Industries Chemicals and Materials
WIP Number MF65-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9869-A2,9595,9870