According to
a new market report published by Lucintel, the future of the European automotive composites market looks
good with growth opportunities in various applications exterior, interior,
power train system, chassis system, under body system, and others. The European
automotive composites market is expected to reach an estimated $4.1 billion by
2021 and it is forecast to grow at a CAGR of 5.8% from 2016 to 2021. The major
drivers of growth for this market are increasing automotive production and
increasing demand for lightweight materials to achieve higher fuel efficiency
and reduce greenhouse gas emissions. European Union has set new standards requiring
passenger cars need to meet a CO2 emissions
target of 95 g/km (equivalent to 57.9 mpg) by 2021, and for light commercial
vehicles it is 147 g/km (equivalent to 43.3 mpg) by 2020. The
European commission proposal to improve European fuel economy standards serves
as a major stimulus to incorporate lightweight materials including composites.
In this
market, 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 composites, polyurethane (PU)
composites, natural fiber composites, and other composites are the major material segments. On
the basis of its comprehensive research, Lucintel forecasts that natural
fiber composites are expected to show highest growth; however, SFT composites
are expected to remain the largest market during the forecast period of 2016 to
2021.
Within the European automotive composites market, polypropylene
(PP) composites, polybutylene terephthalate (PBT) composites, polyamide (PA)
composites, vinyl ester composites, polyester composites, phenolic composites,
and others are the major resin
type segments. PP composites are expected to remain the largest market by value
and volume consumption. High resistance to abrasion, low friction
characteristics, electrical resistance, heat resistance, and good chemical
resistance are the properties which drive the demand for PA composites in
automotive.
By fiber composites, glass fiber composites
market is expected to remain the largest fiber segment; the carbon fiber
composites market is expected to witness highest growth over the forecast
period. Increasing penetration of carbon composites in sports, luxury and
electrical vehicles are the major drivers for usage in automotive market.
By
application type, the power train system market is expected to remain the
largest market by value and volume consumption. Pressure for fuel economy and
reduction in emissions are the major drivers for usage of composites in power
train systems.
By country,
German automotive composites were the major market for Europe due to the
highest rate of automotive production.
For business
expansion, Lucintel’s report suggests innovation and new product development to produce hybrid and higher performance thermoplastic
composites. 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 increasing penetration of thermoplastic and
carbon composites. Another emerging trend is the formation of strategic
alliances between OEMs and carbon fiber and resin suppliers in the automotive industry.
Plastic omnium, Polytec, BASF, DSM, Polynt, Lanxess and Hanwha are among the
major suppliers of composites in the European
automotive market.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed
growth opportunities in the European automotive composites market by material
type, by resin composites type, by fiber composites type, by resin group, by
application, and by country and has come up with a comprehensive research
report entitled “Growth
Opportunities in the European Automotive Composites Market 2016-2021: Trends,
Forecast, and Opportunity Analysis.” The Lucintel report serves as a
springboard for growth strategy, as it provides comprehensive data and analysis
on trends, key drivers, and directions.
The study
includes a forecast for the European automotive composites market by material
type, by resin composites type, by fiber composites type, by resin group, by
application, and by country are as follows :
By Material Type (Value
($M) and Volume (M lbs) from 2010 to 2021):
·
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
Composites
·
Polyurethane
(PU) Composites
·
Natural Fiber
Composites
·
Other
composites
By Resin Composites Type
(Value ($M) and Volume (M lbs) from 2010 to 2021):
·
Polypropylene
(PP) Composites
·
Polybutylene
terephthalate (PBT) Composites
·
Polyamide
(PA) Composites
·
Vinyl ester
Composites
·
Polyester
Composites
·
Phenolic
Composites
·
Other Composites
By Fiber Composites Type (Value ($M) and Volume (M lbs) from 2010 to
2021):
·
Glass Fiber Composites
·
Carbon Fiber Composites
·
Natural Fiber Composites
By Resin Group (Value ($M) and Volume (M lbs) from 2010 to
2021):
·
Thermoplastic Composites
·
Thermoset Composites
By Application Type (Value ($M) and Volume (M lbs) from 2010 to
2021):
·
Exterior
·
Interior
·
Power Train Systems
·
Under Body Systems
·
Electrical and Electronics
·
Others
By
Country (Volume (M lbs) 2015):
·
Germany
·
France
·
UK
·
Spain
·
Italy
·
Others
This
141-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 10 key
questions:
Q.
1. What are some of the most promising, high-growth trends in the European
automotive composites market by material type (SMC, BMC, GMT, SFT, LFT, CFT,
Phenolic, PU, Natural Fiber, and other composites), by resin composites 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), by application (interior, exterior,
power train system, under body system, electrical and electronics, and others)
and by country ( Germany, France, UK, Spain, Italy, and Others?
Q.
2.Which product segments will grow at a faster pace and why?
Q.3.What
are the key factors affecting market dynamics? What are the drivers and
challenges in the market?
Q.4.What
are the business risks and competitive threats in this market?
Q.5.
What are the emerging trends in this market and reasons behind them?
Q.6.
What are the changing demands of customers in the market?
Q.7.What
are the new developments in the market and which companies are leading these developments?
Q.8.Who
are the major players in this market? What strategic initiatives are being
implemented by key players for business growth?
Q.9.What
are 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.
10. What M & A activities have transpired in the last 5 years in this
market?
