According to a new market report published by Lucintel, the future of thermoset resin in the global automotive composites market looks good with opportunities in various applications of interior, exterior and others. Thermoset resin in the global automotive composites market is forecast to grow at a CAGR of 6.6% from 2016 to 2021. The major growth drivers for this market are increasing automotive production and growing demand for lightweight and durable materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions.
In this market, interior, exterior and others are the applications. On the basis of its comprehensive research, Lucintel forecasts that the exterior is expected to be the largest market and witness the highest growth rate during the forecast period of 2016 to 2021.
Within the thermoset resin in the global automotive composites market, SMC/BMC, PMC, and others are the major intermediate materials to manufacture automotive parts. SMC/BMC is expected to remain the largest market by value and volume, mainly driven by lowering the weight of the vehicle as well as offering parts consolidation, corrosion resistance, and lower capital investment for shorter series production.
By resin type, unsaturated polyester resin composites are expected to remain the largest market by value and volume consumption. Ease of handling, low cost, chemical resistance, and dimensional stability, as well as good mechanical and electrical properties are the properties which drive unsaturated polyester resin composite demand in automotive.
North American is expected to remain the largest market due to growing demand for lightweight and environmentally sustainable composite materials from the automotive industry. Government regulations, such as CAFÉ Standards in the US are putting pressure on OEMs to incorporate light-weight materials to curb the overall vehicle weight, and this is the key driver for thermoset resin in the automotive industry.
For business expansion, Lucintel’s report suggests innovation and new product development to produce thermoset resin that have higher strength, lower environmental impact, fast curing, and ease of processing. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of rapid cure resin systems, emergence of bio based thermosets, and increasing use of Fire, Smoke, and Toxic (FST) resin. Strategic alliances between OEMs, thermoset resin suppliers and fiber suppliers in the automotive composites industry are also the emerging trends. Ashland, Polynt, Huntsman Corporation, Aliancys A.G., Hexion, and AOC LLC are among the major suppliers of thermoset resin in the global automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of thermoset resin in the global automotive composites market by application, material type, by resin type and by region and has come up with a comprehensive research report entitled “Growth Opportunities of Thermoset Resin in the Global Automotive Composites Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for thermoset resin in the global automotive composites market by application, intermediate material type, resin type, by country and region as follows:
By Application Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
By Material Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
• Sheet Molding Compound(SMC)
• Bulk Molding Compound(BMC)
• Short Fiber Thermoset (SFT)
• Phenolic Molding Compound (PMC)
By Resin Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
By Region Type (Value ($M) and Volume (M lbs) from 2010 to 2021)
• North American
By Country (Volume (M lbs) 2015)
This 165-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth segments in the market by application type (interior, exterior and others), resin type (polyester, vinylester, epoxy, phenolic and polyurethane resin), material (SMC/BMC, PMC, prepreg and others), by country(US, Canada, Mexico, Germany ,UK, France, Italy, Spain ,China ,India ,Brazil)and region (North America, Europe and APAC/ROW) ?
Q.2.Which segments will grow at a faster pace and why?
Q.3.Which region will grow at a faster pace and why?
Q.4.What are the key factors affecting market dynamics? What are the drivers, challenges and business risks in this market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are the emerging trends in this market and the reasons behind them?
Q.7.What are some of the changing demands of customers in the market?
Q.8.What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10.What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?