The global automotivepolymer composites market size
is expected to reach USD 11.6 billion by 2025, according to a new report by
Grand View Research, Inc., exhibiting a CAGR of 6.8% during the forecast
period. Polymer, metal, and ceramic matrix composites are key composites used
in the automotive industry.
The use of polymer matrix composites on a
large scale in the manufacturing of exterior components such as rear windshield
glazing, fender, panoramic roof modules, wheel covers, headlight lenses,
headlight housings, bumper, and front grille is expected to drive the market
over the forecast period. The automotive industry is witnessing challenges in
aligning production or assembly processes with enhanced material properties and
innovative product design, especially for large-volume production facilities.
Although aluminum and steel are mostly used in lightweight vehicles,
high-performance FRP composites can potentially outperform both aluminum and
steel.
Private collaborations between companies in
automotive and chemical industries, such as Toray and Daimler, SGL and BMW, SGL
and Volkswagen, and Toho Tenax and General Motors, have substantially helped in
the allocation of resources in the automotive polymer composites industry. For
instance, in 2014, BMW-SGL announced an investment of approximately USD 200
million to triple the production capacity of its CFRP plant located in Moses
Lake, Washington, U.S.
Product innovation is one of the key
challenges faced by companies operating in the market. Manufacturers are aiming
at reducing costs and increasing efficiency of products. Implementation of
passenger safety laws such as the Federal Motor Vehicle Safety Standards
(FMVSS) is anticipated to drive the automotive polymer composites market over
the forecast period.
Full research report on Automotive Polymer
Composites Market analysis: https://www.grandviewresearch.com/industry-analysis/automotive-polymer-composites-market
Further key findings from the study suggest:
·
Demand for automotive polymer composites
from electric vehicles is expected to rise at an estimated CAGR of 7.0% from
2017 to 2025 due to increasing focus on using lightweight materials
·
Vinyl ester-based polymer composites are
expected to witness the highest growth over the forecast period. These
composites are used in mainstream automotive applications such as sunroof,
radiator assembly, and heat shields
·
In recent years, various initiatives have
been undertaken to commercialize CFRP for use in mass production of vehicles.
In order to sustain increasing competition, composite suppliers are forced to
upgrade their capabilities to cater to higher volume segments
·
In April 2017, Solvay entered into a
consortium with Bentley and Penso to develop high-volume composite technologies
·
Countries such as Japan, China, Vietnam,
and Indonesia have laid down several policies pertaining to emission control,
in keeping with EU’s emission standards
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/automotive-and-transportation
Grand View Research has segmented
automotive polymer composites market on the basis of resin, product,
application, end use, manufacturing process, and region:
Automotive Polymer Composites Resin Outlook (Volume,
Tons; Revenue, USD Million, 2014 - 2025)
·
Epoxy
·
Polyurethane
·
Polyamide
·
Polypropylene
·
Polyethylene
·
Polyester
·
Vinyl Ester
·
Other Resins
Automotive Polymer Composites Product Outlook (Volume,
Tons; Revenue, USD Million, 2014 - 2025)
·
Carbon Fiber
·
Glass Fiber
·
Natural Fiber
Automotive Polymer Composites Application Outlook
(Volume, Tons; Revenue, USD Million, 2014 - 2025)
·
Polyethylene
·
Detergent Alcohol
·
Synthetic Lubricants
·
Others
Automotive Polymer Composites End-use Outlook (Volume, Tons;
Revenue, USD Million, 2014 - 2025)
·
Conventional Vehicles
·
Electric Vehicles
·
Trucks & Buses
Automotive Polymer Composites Manufacturing Process
Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
·
Compression Molding
·
Injection Molding
·
Sheet Molding
·
Resin Transfer Molding
Automotive Polymer Composites Regional Outlook (Volume,
Tons; Revenue, USD Million, 2014 - 2025)
·
North America
o U.S.
o Canada
o Mexico
·
Europe
o Germany
o U.K.
o France
o Spain
·
Asia Pacific
o China
o Japan
o India
o Taiwan
·
Middle East and Africa
·
Central & South America
View press
release of this research report by Grand View Research: https://www.grandviewresearch.com/press-release/global-automotive-polymer-composites-market
About Grand
View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
