Global Automotive Composites Market Report 2020

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Dec 02, 2020, 11:45 ET

DUBLIN, Dec. 2, 2020 /PRNewswire/ -- The "Global Automotive Composites Market 2020: Industry Convergence Powering the Sector" report has been added to ResearchAndMarkets.com's offering.

The 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.

The ever-tightening regulations and emission standards have propelled automotive electrification growth, driving a surge in electric vehicle (EV) sales in the recent past, amid continued weakness in conventional internal combustion engine OCE, vehicle sales. Rapid electrification is expected to have a significant impact on composites material-mix, as well as application dynamics.

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.

Key Questions Answered

Is the industry growing? How long will it continue to grow and at what rate?
What are the growth prospects considering COVID-19 and its impact on the automotive sector?
What are the key trends and opportunities across the value chain?
What are the prospects for composites based on the type of fiber reinforcement?
Who are the main participants in this industry?
What are the regional prospects for individual material types?

Key Topics Covered:

1. Executive Summary

Key Findings
Strategic Factsheet
Market Engineering Measurements
CEO's Perspective

2. Market Scope, Definitions, and Segmentation

Market Scope
Market Segmentation
Market Definitions
Geographic Scope
Key Questions This Study Will Answer
Percent Revenue Forecast by Region

3. Market Overview

Automotive Market Trends
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
Thermoset Composites
Automotive Composites - Weight Reduction Potential per Application
Automotive Composites - Requirements and Materials
Automotive Composites - Weight Saving Potential

4. Drivers and Restraints

Market Drivers
Drivers Explained
Market Restraints
Restraints Explained
Drivers and Restraints - Impact Assessment

5. Forecasts and Trends - Total Automotive Composites Market

Market Engineering Measurements
Forecast Assumptions
Revenue Forecast
Volume Shipment Forecast
Pricing Trends and Forecast
Volume Shipment and Revenue Forecast Discussion

6. Material Type Analysis - Total Automotive Composites Market

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

7. Fiber Type Analysis - Total Automotive Composites Market

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

8. Application Analysis - Total Automotive Composites Market

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

9. Region Analysis - Total Automotive Composites Market

Percent Revenue Forecast by Region
Revenue Forecast by Region
Percent Volume Shipment Forecast by Region
Volume Shipment Forecast by Region
Attractiveness Analysis by Region

10. Market Trends

11. Value Chain Overview

Value Chain
Value Chain Description
Value Chain - Competitive Structure
Value Chain - Key Participants
Company-Product Matrix

12. Growth Opportunities and Companies to Action

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

13. Vertical Market Analysis - Thermoplastic Composites for Automotive Applications

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
Vertical Market Analysis - Thermoset Composites for Automotive Applications
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

14. The Last Word

For more information about this report visit https://www.researchandmarkets.com/r/7xecda

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