According to a new market report published by
Lucintel, the future of glass fiber in the global automotive composites market
looks good with opportunities in various applications such as exterior,
interior, power train system/engine components, chassis system, electrical and
electronics, under body system, and others. Glass fiber in the global
automotive composites market is expected to reach an estimated $2.7
billion by 2022 and it is forecast to grow at a CAGR
of 5.7% from 2017 to 2022. 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, exterior, interior, power train system,
under body system, electrical and electronics, chassis system, and others are
the major applications. On the basis of its comprehensive research, Lucintel
forecasts that the power train system/ engine component is expected to be the largest
market and the under the body is
expected to show the highest growth rate during the forecast period of 2017 to
2022.
Within glass fiber market for automotive,
sheet molding compound (SMC) and bulk molding compound (BMC), glass mat
thermoplastic (GMT), short fiber thermoplastic (SFT), long fiber thermoplastic
(LFT), continuous fiber thermoplastic (CFT), phenolic molding compound (PMC)
and others are the intermediate
materials to manufacture automotive components. SFT is expected to remain the largest market
by value and volume, mainly driven by applications such as small complex shaped
components in power train system/engine components applications.
By product form, chopped fiber and roving
fiber are the major products form to manufacture automotive composites
parts. Growing demand for short fiber
thermoplastic in automotive market is the major driver.
Europe is expected to remain the largest
market due to higher penetration
of composites in automotive than other region. Government regulations, such as
CAFÉ Standards in the US and carbon emission targets in Europe, are putting
pressure on OEMs to incorporate light-weight materials to curb the overall
vehicle weight, and this is the key driver for glass fiber in the automotive
industry.
For business
expansion, this report suggests innovation and new product development to
produce hybrid and higher performance glass fiber. 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 strategic alliances between OEMs, glass fiber,
and resin suppliers in the automotive composites industry. Owens Corning, Jushi
Group Co, CPIC, Johns Manville, and Lanxess are among the major suppliers of
glass fiber in the global automotive composites market.
Lucintel,
a leading global strategic consulting and market research firm, has analyzed
growth opportunities of glass fiber in the global automotive composites market
by application, intermediate material type, by country and by region and has
come up with a comprehensive research report entitled “Growth
Opportunities of Glass Fiber in the Global Automotive Composites Market
2017-2022: 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 glass
fiber in the global automotive composites market by application, intermediate
material, by products, by country and by region as follows:
By Application Type
(Value ($M) and Volume (M lbs) from 2011 to 2022):
·
Interior
·
Exterior
·
Under the body systems
·
Chassis System
·
Power train system/Engine Components
·
Electrical and Electronics
·
Others
By Intermediates Type (Value ($M) and Volume
(M lbs) from 2011 to 2022):
·
Sheet Molding
Compound (SMC)
·
Bulk Molding
Compound (BMC)
·
Glass Mat
Thermoplastic (GMT)
·
Short Fiber
Thermoplastic (SFT)
·
Long Fiber
Thermoplastic (LFT)
·
Continuous
Fiber Thermoplastic (CFT)
·
Phenolic
Molding Compound (PMC)
·
Others
By Product Type (Value
($M) and Volume (M lbs) from 2011 to 2022):
·
Chopped
·
Roving
By Region Type (Value
($M) and Volume (M lbs) from 2011 to 2022):
·
North American
·
Europe
·
Asia Pacific (APAC)
·
Rest of the World (ROW)
By Country (Volume (M lbs) 2016)
·
US
·
Canada
·
Mexico
·
Germany
·
UK
·
France
·
Italy
·
Spain
·
China
·
India
·
Brazil
This
227-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 helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
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, power train system/engine components,
chassis system, under the body systems, electrical and electronics and
others), intermediate material (SMC and
BMC, LFT, SFT, CFT,GMT, PMC, Others (PU resin), product (Chopped and Roving),
by country ( US, Canada, Mexico, Germany ,UK, France, Italy, Spain
,China ,India ,Brazil) regional (North America, Europe APAC and 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?
Q.
11.What M & A activity has occurred in the last 5 years and what is its
impact on the industry?
