Asia Pacific Market Insights on Automotive Composite Materials, 2018-2024: Emphasis on Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic Matrix Composites and Hybrid Composites), Manufacturing Process (Hand Lay up, Compression Molding, Injection Molding, Resin Transfer Molding)
- UNI2866326
- 140 Pages
- September 2018
- Automotive and Transportation
Some of the Asian countries such as China, India and Japan are among the top GHG emitters holding 30%, 7% and 4% of the Asia Pacific GHG emissions. To comply with the targeted emission values in several countries in the region, the automakers are reducing the vehicular weight to increase their fuel efficiency and reduce the GHG emissions. At present, composite materials are considered to be one of the most preferred ways in the automobile industry when it comes to emission reduction.
Composite materials are prepared by combining two or more materials of different physical and chemical properties that results in the formation of a new product with properties completely different from the used materials. The final product exhibits superior physical, mechanical and chemical properties; owing to which they are rapidly replacing steel and aluminum in a range of automotive parts and products. These composite materials have high strength to weight ratio that improves the fuel efficiency by reducing the overall weight of the vehicle. The reduction in weight also reduces the exhaust gas emissions, which majorly constitutes of harmful Greenhouse Gases (GHG) gases such as Carbon Dioxide (CO2). Besides this the use of composite materials in Electric Vehicles (EV) in Asia Pacific is also blooming. These materials are widely adopted by the EV manufacturers to compensate the weight increased by the batteries.
In addition to this, composite materials also tend to increase the vehicle speed by reducing the overall vehicular weight. Hence the above mentioned factors such as increasing per capita income of the consumers, stringent emission standards, increasing demand of composites in EV segment and also the presence of some of the prominent automotive OEMS and material suppliers are attributed to be the factors propelling Asia Pacific automotive composite materials market. Owing to such factors Asia Pacific automotive composite materials market was estimated to dominate the market in the past years and is expected to prevail over the forecast period (2018-2024).
However, the region is still recovering with respect to economic conditions, hence the high cost of the raw material and manufacturing process are hampering the market growth. In spite of this, the growing advancements in the hybrid composites, increasing partnerships, merger and acquisitions and potential in the emerging markets in the region are considered to be the key opportunity areas. Asia Pacific automotive composites material market is segmented based on different materials such as Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite. Due to high flexibility, high insulation, lower density and lighter weight than other composite materials, PMCs held the maximum market share in 2017 and their dominance is expected to prevail during the forecast period. PMC was valued at US $1,641.0 million in 2017 and are anticipated to reach to US $3,029.9 million by 2024 at a CAGR of 9.6% during the forecast period (2018-2024). To get a better understanding of the market, PMCs are further segmented by matrix types, which include thermosets and thermoplastics. In this segment, thermosets are anticipated to be the largest market on the other side thermoplastics will be the fastest growing matrix type during the forecast period. Further, due to low cost and high flexural and tensile strength of hybrid composites as compared to single fiber composites, the hybrid composites are anticipated to be the fastest growing composite type during the forecast period.
The market is further fragmented across different manufacturing processes. This includes hand lay-up, compression Moulding, injection Moulding, and resin transfer Moulding (RTM). Injection Moulding process dominated the market in 2017 and is expected to continue its dominance over the forecast period. The injection Moulding process was valued at US $955.5 million in 2017 and is anticipated to reach US $1,889.5 million by 2024 at a CAGR of 9.7% during the forecast period (2018-2024). On the other hand, due to RTM’s capability of low cost and high volume manufacturing, this segmented is anticipated to be the fastest growing segment during the forecast period. RTM is poised to grow at a CAGR of 10.9% during the forecast period. Based on several application areas in automobiles, Asia Pacific automotive composite materials market is segmented into interior, exterior, chassis, powertrain & under the hood and structural.
Among different application areas, exterior application held the highest market share and was valued at US $1,469.7 million in 2017 and is anticipated to grow to US $2,759.7 million by 2024 at a CAGR of 9.5% during the forecast period (2018-2024), followed by the structural application segment. Based on different vehicle types, Asian automotive composite materials market is segmented into Super Cars, passenger cars and others (commercial vehicles and others). Asian passenger car market is the world largest auto market; in addition the growing demand of composites in EVs and other passenger cars gives it a definitive edge over other markets. Asia Pacific automotive composite materials market in passenger cars segment was valued at US $136.4 million in 2017 and is anticipated to reach US $3,948.9 million by 2024 at a CAGR of 9.4%. Asian automotive composite materials market is further segmented across different countries, which includes, China, Japan, India, South Korea, Singapore, Australia and rest of APAC. China dominated the market in 2017 and is expected to prevail over the others during the forecasted period. China is the world’s largest automobile producer, and stringent emission regulations and the presence of local composite materials suppliers are attributed to be the major factors monitoring China’s automotive composite materials market. China’s automotive composite materials market was valued at US $1,065.0 million in 2017 and is expected to reach US $2,044.7 million by 2024 at CAGR of 9.9% during the forecast period. Some of the major local and foreign key players active in Asia Pacific automotive composite materials market include BASF CORPORATION, DowDupont, Gurit Holding AG, Magna International Inc., Mitsubishi Chemicals Holding Corporation, Owens corning, SGL Group, Solvay S.A., Teijin Limited and Toray Industries Inc. These players are entering into several competitive strategies (partnerships, merger-acquisitions, joint venture, new product launch, business expansion and others) with each other or other supplier or automotive OEMs to strengthen their position in the Asia Pacific automotive composite materials market.
1.1 Market Definition
1.2 Objective of the Study
1.3 Limitation
1.4 Stakeholders
1.5 Currency used in the Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Secondary Data
2.1.1 Key Secondary Sources
2.2 Primary Data
2.2.1 Sampling Techniques & Data Collection Methods
2.2.2 Primary Participants
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 MARKET OVERVIEW
5.1 Market Dynamics
5.1.1 Market Trends & Drivers
5.1.1.1 Stringent Government Regulations on GHG emission
5.1.1.2 Increasing Demand of Composites among Hybrid and Electric Vehicles
5.1.1.3 Crashworthiness Capability
5.1.2 Market Restraints
5.1.2.1 High Cost of the Raw Materials
5.1.3 Opportunities
5.1.3.1 Growing Scope of Hybrid Composite Materials
5.1.3.2 Increase in partnerships Between OEMs and Composite Manufacturers
5.1.3.3 Growing Scope in Developing Countries
6 BENEFITS OF COMPOSITE MATERIALS
7 MARKET INSIGHTS BY MATERIAL TYPE
7.1 General Overview
7.2 Polymer Matrix Composite (PMC)
7.2.1 Thermoset Matrix
7.2.2 Thermoplastic Matrix
7.3 Metal Matrix Composite (MMC)
7.4 Ceramic Matrix Composite (CMC)
7.5 Hybrid Composites
8 MARKET INSIGHTS BY MANUFACTURING PROCESS
8.1 General Overview
8.2 Hand Lay up
8.3 Compression Molding
8.4 Injection Molding
8.5 Resin Transfer Molding
9 MARKET INSIGHTS BY APPLICATION
9.1 General Overview
9.2 Interior
9.3 Exterior
9.4 Chassis, Powertrain and Under the Hood
9.5 Structural
10 MARKET INSIGHTS BY VEHICLE TYPES
10.1 Overview
10.2 Performance Cars
10.3 Passenger Cars
10.4 Others (Light Commercial Vehicles, Buses, Trucks and Others)
11 MARKET INSIGHTS BY COUNTRY
11.1 General Overview
11.1.1 APAC Automotive Composite Materials Market, by Material Type
11.1.2 APAC Automotive Composite Market, by Manufacturing Process
11.1.3 APAC Automotive Composite Materials market, by Application
11.1.4 APAC Automotive Composite Materials Market, by Vehicle Type
11.1.5 APAC Automotive Composite Materials Market, by Country
11.1.5.1 China Automotive Composite Materials Market
11.1.5.1.1 China Automotive Composite Market, by Material Type
11.1.5.1.2 China Automotive Composite Market, by Manufacturing Process
11.1.5.1.3 China Automotive Composite Market, by Application
11.1.5.1.4 China Automotive Composite Market, by Vehicle Type
11.1.5.2 Japan Automotive Composite Materials Market
11.1.5.2.1 Japan Automotive Composite Market, by Material Type
11.1.5.2.2 Japan Automotive Composite Market, by Manufacturing Process
11.1.5.2.3 Japan Automotive Composite Market, by Application
11.1.5.2.4 Japan Automotive Composite Market, by Vehicle Type
11.1.5.3 India Automotive Composite Materials Market
11.1.5.3.1 India Automotive Composite Market, by Material Type
11.1.5.3.2 India Automotive Composite Market, by Manufacturing Process
11.1.5.3.3 India Automotive Composite Market, by Application
11.1.5.3.4 India Automotive Composite Market, by Vehicle Type
11.1.5.4 Singapore Automotive Composite Materials Market
11.1.5.4.1 Singapore Automotive Composite Market, by Material Type
11.1.5.4.2 Singapore Automotive Composite Market, by Manufacturing Process
11.1.5.4.3 Singapore Automotive Composite Market, by Application
11.1.5.4.4 Singapore Automotive Composite Market, by Vehicle Type
11.1.5.5 South Korea Automotive Composite Materials Market
11.1.5.5.1 South Korea Automotive Composite Market, by Material Type
11.1.5.5.2 South Korea Automotive Composite Market, by Manufacturing Process
11.1.5.5.3 South Korea Automotive Composite Market, by Application
11.1.5.5.4 South Korea Automotive Composite Market, by Vehicle Type
11.1.5.6 Australia Automotive Composite Materials Market
11.1.5.6.1 Australia Automotive Composite Market, by Material Type
11.1.5.6.2 Australia Automotive Composite Market, by Manufacturing Process
11.1.5.6.3 Australia Automotive Composite Market, by Application
11.1.5.6.4 Australia Automotive Composite Market, by Vehicle Type
11.1.5.7 Rest of Asia-Pacific Automotive Composite Materials Market
11.1.5.7.1 Rest of APAC Automotive Composite Market, by Material Type
11.1.5.7.2 Rest of APAC Automotive Composite Market, by Manufacturing Process
11.1.5.7.3 Rest of APAC Automotive Composite Market, by Application
11.1.5.7.4 Rest of APAC Automotive Composite Market, by Vehicle Type
12 COMPETITIVE SCENARIO
12.1 Asia Pacific Automotive Composite Materials Market Share of Major Players, 2017
13 COMPANY PROFILES
13.1 BASF SE
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Key Product/Services Offerings
13.1.4 SWOT Analysis
13.1.5 Key Financials
13.1.5.1 Revenue Split, by Region
13.1.5.2 Revenue Split, by Business Segment
13.1.6 Recent Developments
13.2 DowDuPont Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Key Product/Services Offerings
13.2.4 SWOT Analysis
13.2.5 Key Financials
13.2.5.1 Revenue Split, by Region
13.2.5.2 Revenue Split, by Business Segment
13.2.6 Recent developments
13.3 Gurit Holding AG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Key Product/Services Offerings
13.3.4 SWOT Analysis
13.3.5 Key Financials
13.3.5.1 Revenue Split, by Region
13.3.5.2 Revenue Split, by Business Segment
13.3.6 Recent developments
13.4 Magna International Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Key Product/Services Offerings
13.4.4 SWOT Analysis
13.4.5 Key Financials
13.4.5.1 Revenue Split, by Region
13.4.5.2 Revenue Split, by Business Segment
13.4.6 Recent developments
13.5 Mitsubishi Chemical Holdings Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Key Product/Services Offerings
13.5.4 SWOT Analysis
13.5.5 Key Financials
13.5.5.1 Revenue Split, by Region
13.5.5.2 Revenue Split, by Business Segment
13.5.6 Recent developments
13.6 Owens Corning
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Key Product/Services Offerings
13.6.4 SWOT Analysis
13.6.5 Key Financials
13.6.5.1 Revenue Split, by Region
13.6.5.2 Revenue Split, by Business Segment
13.6.6 Recent developments
13.7 SGL Group
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 SWOT Analysis
13.7.4 Key Financials
13.7.4.1 Revenue Split, by Region
13.7.4.2 Revenue Split, by Business Segment
13.7.4.3 Revenue of CFM, by Industry
13.7.4.4 Revenue of GMS, by Industry
13.7.5 Recent developments
13.8 Solvay SA
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Key Product/Services Offerings
13.8.4 SWOT Analysis
13.8.5 Key Financials
13.8.5.1 Revenue Split, by Region
13.8.5.2 Revenue Split, by Business Segment
13.8.1 Recent developments
13.9 Teijin Limited
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Key Product/Services Offerings
13.9.4 SWOT Analysis
13.9.5 Key Financials
13.9.5.1 Revenue Split, by Region
13.9.5.2 Revenue Split, by Business Segment
13.9.6 Recent developments
13.1 Toray Industries Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Key Product/Services Offerings
13.10.4 SWOT Analysis
13.10.5 Key Financials
13.10.5.1 Revenue Split, by Region
13.10.5.2 Revenue Split, by Business Segment
13.10.6 Recent developments
TABLE 1 BASF SE Key Facts
TABLE 2 Products segmentation of BASF SE
TABLE 3 BASF SE Growth Strategy
TABLE 4 BASF SE financials, US$ Mn
TABLE 5 DowDuPont Inc. key facts
TABLE 6 Products segmentation of DowDuPont Inc.
TABLE 7 DowDuPont Inc. Growth Strategy
TABLE 8 DowDuPont Inc. Financials, US$ Mn
TABLE 9 Gurit Holding AG Key Facts
TABLE 10 Products segmentation of Gurit Holding AG
TABLE 11 Gurit Holding AG Growth Strategy
TABLE 12 Gurit Holding AG financials, US$ Mn
TABLE 13 Magna International Inc. Key Facts
TABLE 14 Products segmentation of Magna International Inc.
TABLE 15 Magna International Inc. Financials, US$ Mn
TABLE 16 Mitsubishi Chemical Holdings Corporation Key Facts
TABLE 17 Products segmentation of Mitsubishi Chemical Holdings Corporation
TABLE 18 Mitsubishi Chemical Holdings Corporation Financials, US$ Mn
TABLE 19 Owens Corning Key Facts
TABLE 20 Products segmentation of Owens Corning
TABLE 21 Owens Corning Growth Strategy
TABLE 22 Owens Corning Financials, US$ Mn
TABLE 23 SGL Group key facts
TABLE 24 Products segmentation of Cisco Systems
TABLE 25 SGL Group, Growth Strategy
TABLE 26 SGL Group financials, US$ Mn
TABLE 27 Solvay SA key facts
TABLE 28 Products segmentation of Solvay SA
TABLE 29 Solvay SA Growth Strategy
TABLE 30 Solvay SA financials, US$ Mn
TABLE 31 Teijin Limited name key facts
TABLE 32 Products segmentation of Teijin Limited
TABLE 33 Teijin Limited Growth Strategy
TABLE 34 Teijin Limited name financials, US$ Mn
TABLE 35 Toray Industries Inc. name key facts
TABLE 36 Products segmentation of Toray Industries Inc.
TABLE 37 Toray Industries Inc. Growth Strategy
TABLE 38 Toray Industries Inc. name financials, US$ Mn
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