Lucintel anticipates that Asia Pacific will be the fastest growing region for thermoplastic resin in the global automotive composites market
According to a new market report published by Lucintel, the future of thermoplastic resin in the global automotive composites market looks good with opportunities in various applications such as powertrain system, electrical and electronics, chassis system, interior, exterior, under body system, and others. Thermoplastic resin in the global automotive composites market is expected to reach an estimated $4.7 billion by 2022 and it is forecast to grow at a CAGR of 5.1% 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. The other major drivers of thermoplastic resin for automotive are higher impact strength, better surface finish to the composite materials, and higher production rates than thermoset resin.
Browse 40 market data tables and 198 figures spread through 258 pages and in-depth TOC on “Thermoplastic Resin in the Global Automotive Composites Market"
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 under body system is expected to show the highest growth rate during the forecast period of 2017 to 2022.
Within thermoplastic resin in the global automotive composites market, glass mat thermoplastic (GMT), short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), continuous fiber thermoplastic (CFT), and others are the major intermediate materials for manufacturing automotive parts.
By resin type, polyamide (PA) 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 PA composite demand in automotive.
Europe is expected to remain the largest market due to growing demand for lightweight and environmentally sustainable composite materials from the automotive industry. 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 thermoplastic resin in the automotive industry.
For business expansion, Lucintel’s report suggests innovation and new product development to achieve higher thermal and hydrolysis resistance with improved mechanical properties for thermoplastic resin. 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 inter-material competition and increasing focus on continuous fiber reinforced thermoplastic composites. Celanese’s Advanced Engineered Materials (Ticona), SABIC, Tencate, Cytec, BASF, DSM, Dupont and Quadrant are among the major suppliers of thermoplastic resin in the global automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of thermoplastic resin in the global automotive composites market by application, material type, by resin type and by region and has come up with a comprehensive research report entitled “Growth Opportunities of Thermoplastic Resin 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 thermoplastic resin in the global automotive composites market through 2022 segmented by application, intermediate material type, resin type, by country and by region as follows:
Automotive thermoplastic resin composites market by Application Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
- Under body systems
- Chassis System
- Power train system/ engine components
- Electrical and Electronics
Automotive thermoplastic resin composites market by Material Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
- Glass Mat Thermoplastic (GMT)
- Short Fiber Thermoplastic (SFT)
- Long Fiber Thermoplastic (LFT)
- Continuous Fiber Thermoplastic (CFT)
Automotive thermoplastic resin composites market by Resin Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
- Polypropylene (PP) Composites
- Polybutylene terephthalate (PBT) Composites
- Polyamide (PA) Composites
Automotive thermoplastic resin composites market by Region (Value ($M) and Volume (M lbs) from 2011 to 2022)
- North American
- Asia Pacific (APAC)
- Rest of the World
Automotive thermoplastic resin composites market by Country (Value ($M) and Volume (M lbs) 2016)
For further information, visit www.lucintel.com.
This report answers following 11 key questions:
- 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), resin type (PA,PP, PBT and others), material (LFT, SFT, CFT,GMT and others), by country ( US, Canada, Mexico, Germany ,UK, France, Italy, Spain ,China ,India ,Brazil) and 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?
- 11.What M & A activity has occurred in the last 5 years and what is its impact on the industry?
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