The market research report identifies and prioritizes opportunities in the ASEAN (Association of Southeast Asian Nations) automotive composites market by product type, manufacturing process, application, and region. The market is expected to grow at a CAGR of 6.5% from 2017 to 2022.
According to a new market report published by Lucintel, the future of the ASEAN (Association of Southeast Asian Nations) automotive composites market looks promising with opportunities in the passenger car and light weight truck. The ASEAN automotive composites market is forecast to grow at a CAGR of 6.5% from 2017 to 2022.
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.
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In this market, exterior, interior, and power train systems are the major applications.
On the basis of its comprehensive research, Lucintel forecasts that the power train system is expected to be the largest market and under body system is expected to show the highest growth during the forecast period from 2017 to 2021.
Within the ASEAN automotive composites market, short fiber thermoplastic (SFT), and long fiber thermoplastic (LFT) are the major materials utilized to manufacture automotive parts.
By fiber type, glass, carbon, and natural fiber are the major fibers used to manufacture composites parts. The glass fiber market is expected to remain the largest fiber segment, and the carbon fiber market is expected to witness the highest growth over the forecast period.
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By resin type, polyamide (PA) resin is 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 PA demand in automotive.
By resin group, thermoplastics and thermoset resin are the two segments in which thermoplastic are the largest segment. The advantages of using thermoplastic is recyclability, ease of processing, and better capability of making parts with complex geometry.
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Vietnam, Thailand, Myanmar, Malaysia, Brunei Darussalam, Indonesia, Cambodia, and Singapore and Lao PDR are the countries included in ASEAN automotive composites market. Among this, Thailand was the major market for the ASEAN automotive composites because of high volume of automotive production.
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The study includes a forecast for the ASEAN automotive composites market by product type, manufacturing process, application, and region as follows:
By application type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Power Train Systems
- Under Body Systems
- Electrical & Electronics
By material type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Short Fiber Thermoplastic
- Long Fiber Thermoplastic
- Sheet Molding Compound
- Bulk Molding Compound
- Glass Mat Thermoplastic
- Other Composites
By fiber composite type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Glass Fiber Composites
- Carbon Fiber Composites
- Natural Fiber Composites
By resin type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Polypropylene Composites
- Polyamide Composites
- Polybutylene Terephthalate Composites
- Polyester Composites
- Vinyl ester Composites
- Others Composites
By resin group (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Thermoplastic Composites
- Thermoset Composites
By country (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
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