Global Automotive Polymer Composites Market by Resin (Polyurethane, Polypropylene, Polyethylene, Epoxy, Polyamide) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

Global automotive polymer composites market was valued at USD 6.40 Billion in 2016. It is projected to grow at a CAGR of 6.8% by 2025. This market is characterised by large-scale automotive production and strict regulations in the automobile industry.

Auto industry faces challenges when it comes to aligning production and assembly processes with improved material properties and innovative product designs, especially for large-volume production plants. Aluminum and steel are better at reducing vehicle weight, but high-performance FRP composites may be more efficient than either. Market growth will be slowed by the high costs of reinforcing material, high processing costs and expensive recycling processes.

Composites can be improved by maximizing recycling to increase their end-of-life value. This will likely lead to a higher composites' Life-cycle Assessment score (LCA). EU End-of-Life Vehicle Directive (EU) for cars requires that 85% of vehicle components be recycled. However, energy recovery from polymers is not considered recycling.

Manufacturers will be more inclined to choose backward integration as a strategy to meet rising demand for fuel-efficient cars and the increasing production of lightweight components for automobiles. Participation across the value chain will result in shorter processing times, which in turn is likely to increase cost advantage. Automobile composite Manufacturers are increasing their production capacity and focusing on improving the infrastructure to meet growing market demand.

Resin Insights

The nylon6 polyamide is also known as . It has superior resistance to chemicals and abrasion, making it an ideal material for applications that require dimensional stability. This resin is used in gears and bushes. Although polystyrene is popular and easy-to-make, it has poor UV resistance. Polyethylene can be further classified into High-Density Polyethylene and Low-Density Polyethylene.

The superior properties of polyurethane composites include lightweight, durability, flexibility and stability as well as resistance to moisture and temperature. These properties are driving automotive manufacturers to adopt these materials more often. Structural RIM is used for automotive interior and exterior parts, such as inner doors panels, roof modules and flaps.

Because of their low cost, chemical resistance and UV stability, polypropylene composites are popular in automotive components. These are less costly in comparison to Acrylonitrile-butadiene-styrene (ABS) and Polycarbonate (PC). Polypropylene composite parts are not painted due to UV stabilization. This reduces costs and improves the recycling of parts.

Composite Product Insights

Recent developments in the automotive polymer composites market have seen hybrid designs that combine carbon and glass fiber reinforcement. Product laminates with 50% carbon-fiber reinforcement are ideal for exterior use, while alternating glass/carbon layup assembly has high compressive strength.

Fiberglass is used primarily to reduce vehicle weight. Fiberglass is also known for its high tensile strengths which give it an advantage over other metals. Fiberglass is used for dashboards and external body parts. The market will see a shift towards lightweight fiberglass in automobile manufacturing, replacing heavy-weight metals.

The value chain is a key area where key players have established themselves. This includes raw material production, manufacturing and distribution. Quality of raw materials are maintained and competitive advantages in cost savings and profit margin. Companies must be able to compete in this market because of intense competition, rapid technological developments, and high-demand customers.

The strongest and thickest product in the category is expected to grow quickly due to its strength. Aligning carbon atoms parallel with the long axis of carbon fibers is how you make carbon fibers. Special-purpose equipment is required to align the fiber axis and carbon atom. This requires skilled labor. Steel is a versatile material due to its low cost and exceptional strength. In order to select the right raw material for an automotive lightweight material, crashworthiness is an important consideration.

Application Insights

Epoxy glue is a structural glue that has been used in the automotive industry for more than 30 years. It replaces welding. Auto manufacturers love epoxy resin for its properties of mechanical strength, heat resistance and adhesion to metallics. These properties protect the car's bodywork against corrosion and other damage. Cathodic Electro Deposition (CED) is used to coat the car's body with epoxy resins.

For real-time comfort, protection, energy conservation, and comfort, polyurethanes are highly favored. They are lightweight and durable, making them ideal for interior cushioning and heat and noise insulation. The resistance to solvent and chemical attacks has been demonstrated by. Polyvinyl chloride's vinyl content gives it a high tensile strength. This makes it a good choice for automotive instrument panels, sheathing electrical cables, pipes and doors.

The benefits of advanced materials, such as their lightweight and superior resistance to corrosion, are still not widely known. The industry is currently investing in upgrading the molding process of polymer composites using different forms of E-glass in midlevel performance resins. These include thermosets or thermoplastics.

End-use Insights

Electric cars combine modern automotive technologies with lightweight automotive components. The main components of electric vehicles are composites. There are special requirements for electric vehicles, such as lightweight crashworthiness and the Internet of Things (IoT) connectivity.

Hybrid vehicles combine two or more power sources. The ability to switch between different engine types reduces emissions and saves fuel. Hybrid cars tend to be lighter and more aerodynamic. These hybrid cars have a smaller combustion engine than conventional cars. To reduce weight and improve fuel efficiency, hybrid vehicle manufacturers use lighter materials. These materials are used in many parts, including hoods and fenders, decklids as well as battery modules, floor pans, trunk pockets, bumper beams, and battery module cover.

The industry will benefit from large EU investments in projects like Composite Structural Energy Storage for Hybrid Vehicles (STORAGE), as well as the introduction of many new technologies. These technologies include improvements in the composition and use of supercapacitors and carbon aerogel reinforcements. These advances are expected to increase the demand for automotive polymer compounds in electric cars.

Manufacturing Process Insights

The high-volume, high-pressure compression molding process is suitable for mold complex and high strength fiberglass reinforcements. Compression molding is able to mold complex and large parts. This technique produces fewer knit lines than injection molding and has a lower rate of fiber-length degradation.

Injection molding plastics are the fastest-growing manufacturing segment in the automotive polymer compound market. This involves the injection of molten plastic material into a mold, and then solidifying it. The basic raw materials for automotive lightweight material are polyethylene, polypropylene and polyurethane.

SMC (Sheet Molding Compounds) and Sheet Molding Composites (SMC), are both a process as well as a reinforced composite material. These are made up of polyester resin and chopped glass. They come in the form a sheet. These compounds are developed using compression or injection molding techniques. They are then used in large-scale production of bodywork and structural automotive parts.

Regional Insights

Asia Pacific held the largest share of the global automotive market in 2016. Market growth is driven by the availability of low-cost raw material, cheap labor, supportive government policy, and the existence of many untapped markets within emerging economies. The automotive lightweight materials industry relies heavily on steel as a raw material. China, India and Japan are the top three global steel producers. Automobile companies have established production plants in the region in order to benefit from low production costs and close proximity to end-use market.

Composites are used extensively in North America's automotive applications. The region's major CFRP users are Ford and Chevrolet. The most common North American CFRP users are the Chevrolet Corvette Stingray and Ford Viper SRT. Plasan Carbon Composites supplies these to OEMs. The composites used by Mustang, Corvette and Viper are 26.7, 15.5 and 2.9 kilograms respectively.

The German economy has many advantages, including a higher purchasing power, better infrastructure and a high standard living. Over the forecast period, Germany is expected to see a rise in population growth and a higher level of consumer income that will drive overall demand for high-end goods. In 2016, Germany accounted for 28% of all European automobile production. The country accounted for approximately 28% of the total European automotive production in 2016. This is due to rising disposable income, which drives consumers' desire for luxury, comfortable, innovative and environmentally-friendly products.

The country's growing population has led to an influx of new customers. This helps the industry expand its operations and assists manufacturers in developing their customer base by attracting new buyers with new products. The automotive polymer composites market will be boosted by factors such as the growth of the consumer segment and the development in automotive production.

Market Share Insights & Key Companies

Dow Automotive Systems, Bayer Corporation and 3M are top suppliers who are working hard to expand their global reach. To meet the growing demand for Asia Pacific, companies are increasing their production in emerging economies like China and India.

Various countries, including Japan, Canada, China and South Korea, as well as Brazil and India, have set fuel economy standards or greenhouse gas emission standards. These standards apply to passenger vehicles, light commercial vehicles, and light trucks. The demand for composites has increased from North America and Europe due to existing regulations. These countries have proposed regulations that will fuel the demand for composites over the next eight year.

2016 saw the participation of many market players in a number of strategic development plans. These included the acquisition of TenCate in Tennessee by Tennessee Acquisition B.V., Owens Corning’s facility expansion in India initiative, Magna International's acquisition of GETRAG Group, and the introduction of Toho Tenax’s integrated production system for CFRP.

Automotive Polymer Composites Market Report Scope

The Report Covers Certain Segments

This report predicts revenue growth at the global, regional, or country-level. It also provides analysis of industry trends for each sub-segment from 2014 through 2025. Grand View Research segmented the global market for automotive polymer composites based on resin, product type, end-use, manufacturing method, and location.

• Resin Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)

  • Epoxy

  • Polyurethane

  • Polyamide

  • Polypropylene

  • Polyethylene

  • Polyester

  • Vinyl Ester

  • Other

• Composite Product Outlook (Volume and Tons; Revenue USD Million, 2014-2025)

  • Carbon Fiber

  • Glass Fiber

  • Natural Fiber

• Application Outlook (Volume and Tons; Revenue USD Million, 2014-2025)

  • Interior Components

  • Exterior Components

  • Structural Components

  • Powertrain Components

• End-use Outlook (Volume and Tons; Revenue USD Million, 2014-2025)

  • Conventional Vehicles

  • Electric Vehicles

  • Trucks & Buses

• Manufacturing Process Outlook (Volume and Tons; Revenue USD Million, 2014-2025)

  • Compression Molding

  • Injection Molding

  • Sheet Molding

  • Resin Transfer Molding

• Regional Outlook (Volume and Tons; Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

    • Spain

  • Asia Pacific

    • China

    • India

    • Japan

    • Taiwan

  • Central & South America

  • Middle East & Africa

These are the most frequently asked questions about this report

b. Global automotive polymer composites market was valued at USD 7.83 billion in 2019, and is forecast to grow to USD 8.37 billion by 2020.

b. The global automotive polymer composites market will grow at 6.8% compound annual growth rate from 2017 to 2025, to reach USD 11.62 Billion by 2025.

b. With a 37.0% share in 2019, Europe was the dominant market for automotive polymer composites. This can be attributed to Europe's high purchasing power, improved infrastructure, and high standards of living.

b. Dow Automotive Systems, Bayer Corporation and Teijin are some of the key players in the automotive polymer composites industry.

b. The key factors driving growth in the automotive polymer composite market include large-scale Asian automotive production, increased demand for lightweight and durable materials, as well as strict regulations in the automotive industry.

Up Market Research published a new report titled “Automotive Polymer Composites Market research report which is segmented by Resin (Polyurethane, Polypropylene, Polyethylene, Epoxy, Polyamide), By Players/Companies Teijin, Dow Automotive Systems, Hexcel, Bayer Corporation, 3M, Toray”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Automotive Polymer Composites Market Report Segments:

The market is segmented by Resin (Polyurethane, Polypropylene, Polyethylene, Epoxy, Polyamide).

Automotive Polymer Composites Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Automotive Polymer Composites Market

Overview of the regional outlook of the Automotive Polymer Composites Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Automotive Polymer Composites Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Automotive Polymer Composites Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Polyurethane

                2. Polypropylene

                3. Polyethylene

                4. Epoxy

                5. Polyamide

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Automotive Polymer Composites Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Automotive Polymer Composites Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.