According to a new market report published by Lucintel, the future of the automotive composites market looks good with opportunities in the power train, exterior, interior, electrical and electronics, and under body system. The European automotive composites market is expected to reach an estimated $5.3 billion by 2025 with a CAGR of 3.7% from 2020 to 2025. The major drivers for this market are increasing automotive production and growing demand for lightweight materials to achieve higher fuel efficiency and reduce greenhouse gas emissions.
In this market, SFT, LFT, SMC, BMC, and GMT are the major intermediate materials used for manufacturing of various parts for automotive applications. On the basis of its comprehensive research, Lucintel forecasts that the short fiber thermoplastic (SFT) will remain the largest segment by value and volume due to ease of processing and better capability of making parts in complex geometry.
Within this market, PA, PP, PBT, vinyl ester, epoxy, polyester, and phenolic are the major resin used in manufacturing of composites parts for automotive applications. PA based composites will remain the largest market by value and volume due to increasing demand for high temperature thermoplastics in under the hood applications.
By fiber type, glass fiber, carbon fiber, and natural fiber based composites are the major segments. Carbon fiber based composite market is expected to witness highest growth over the forecast period due to increasing penetration of carbon composites in sports, luxury and electric vehicles.
Power train system, exterior, interior, electrical and electronic, and under body system are the major applications for the automotive composites. Power train system will remain the largest market by value and by volume due to increasing demand of composites in air intake manifold, engine cover/cam cover, radiator end cap, drive shaft, and suspension applications.
Emerging trends, which have a direct impact on the dynamics of the European automotive composites industry, include increasing penetration of carbon fiber based SMC, development of low density SMC, and formation of strategic alliances between OEMs and carbon fiber and resin suppliers. Plastic omnium, Polytec, BASF, DSM, Polynt, Lanxess and Hanwha are among the major suppliers of European automotive composite market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the European automotive composites market by application, material, fiber, resin, resin group, and country. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the European Automotive Composites Market 2020-2025: Trends, Forecast, and Opportunity Analysis”. The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the European automotive composites market by application, material, fiber, resin, and country as follows:
By Application (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
• Power Train Systems
• Electrical and Electronics
• Under Body Systems
By Material type (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
• Phenolic Composites
• PU Composites
• Natural Fiber Composites
• Carbon Thermoset Composites
By Fiber type (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
• Glass Fiber based Composites
• Carbon Fiber based Composites
• Natural Fiber based Composites
By Resin type (Value ($M) and Volume (M lbs) shipment analysis for 2014-2025):
• PA based Composites
• PP based Composites
• Polyester Composites
• Vinyl ester Composites
• Epoxy Composites
• PBT based Composites
• Phenolic Composites
By Resin group (Value ($M) and Volume (M lbs) shipment analysis for 2014 – 2025):
• Thermoplastic Composites
• Thermoset Composites
By Country (Value ($M) and Volume ( M lbs) shipment analysis for 2014-2025):
This 137-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, strategic growth consulting, market research due diligence and business strategy consulting.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth in the european automotive composites market by material type (SMC, BMC, GMT, SFT, LFT, CFT, Phenolic, PU, Natural Fiber, Carbon thermoset composites), by resin type(PP, PBT, Vinyl Ester, PA, Epoxy, Polyester, Phenolic and others), by fiber type (glass fiber, carbon fiber and natural fiber composites),by resin group (Thermoplastic and Thermoset Composites), and by application (interior, exterior, power train system, under body system, electrical and electronics and others)?
Q. 2.Which product 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 and challenges in the market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are emerging trends in this market and reasons behind them?
Q.7.What are some changing demands of customers in the market?
Q.8.What are the new developments in the market and which companies are leading these developments?
Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10.What is some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q. 11. What M & A activities has transpired in the last 5 years in this market and what is its impact on the industry?