The global automotive polymer 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.
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https://www.grandviewresearch.com/industry-analysis/automotive-polymer-composites-market
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
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
·
Europe
·
Asia Pacific
·
Middle East and Africa
·
Central & South America
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.
For More Information: www.grandviewresearch.com