Europe Market Insights on Automotive Composite Materials: Insights and Forecast, 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)
- UNI2844759
- 142 Pages
- September 2018
- Automotive and Transportation
Besides this, Europe is home to several prominent automotive OEMS and composite material suppliers such as BMW AG, Volkswagen AG, Audi, BASF, DowAksa, Gurit Holding AG, Mubea Carbo Tech GmbH, SGL Group and Solvay S.A. among others. These players are coming up with cost effective and innovative products in the market. They are also collaborating among themselves to strengthen their foothold in the automotive composite materials market. For instance, in December 2016, Gurit Holding launched Gurit Smartcure epoxy prepreg press molding system and Gurit Prime 180 for automotive industry. Further, as of April 2018, SGL group extended its partnership with Hyundai to provide SIGRACET (wet-laid nonwoven CFRP gas diffusion layers (GDLs)) for Hyundai’s fuel cell Nexo. Such growing OEM-material supplier relationships in the region are expected to propel the growth of European automotive composite materials market.
In addition to this, the growing number of research and development activities on composites materials for automotive industry is also acting as a catalyst in the region. In January 2016, the European Union launched a project named “CARIM” to manufacture and commercialize lightweight automotive wheels made up of carbon fiber. The consortium formed for this project aims for a short cycle and lower cost production line. The government has also proposed the formation of European Automotive Composites Competence Network and has several other events in line to ensure an adequate support for research and innovation activities in European automotive composite materials market. Hence, the stringent emission standards, increasing automotive OEMs and supplier partnerships and growing R&D activities on automotive composites are some of the prominent factors propelling the market growth of automotive composite materials market. Europe’s automotive composite materials market was valued at US $943.5 million in 2017 and is anticipated to reach US $1,615.1 million by 2024 at a CAGR 8.1% of during the forecast period (2018-2024).
Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite are different types of the composite materials widely used across the automotive industry. In Europe, PMCs are most popular composite type among the automakers, as they have high flexibility, high insulation, lower density and lighter weight than other composite materials type. Owing to such factors, the polymer matrix composites held the highest market value of US $715.8 million in 2017 and are anticipated to reach to US $1,217.3 million by 2024 at a CAGR of 8.0% during the forecast period (2018-2024). Moreover, to get a deep dive analysis of PMC, the segment is further segmented by matrix type this includes, thermosets and thermoplastics. Further, low cost and exceptionally good structural and mechanical properties of hybrid composites are making them ideal alternatives to single fiber composites. Hence hybrid composites are anticipated to be the fastest growing segment during the forecast period.
The properties of the composite materials change with the manufacturing techniques. Some of the popular manufacturing processes include Hand Lay Up, Compression Molding, Injection Molding, and Resin Transfer Molding (RTM). Among these manufacturing processes, Injection molding process dominated the market in 2017 and is expected to continue its dominance over the forecast period. The injection molding process was valued at US $18.3 million in 2017 and is anticipated to reach US $743.7 million by 2024 at a CAGR of 8.1% during the forecast period (2018-2024). On the other hand, RTM will be the fastest growing manufacturing process because of its growing adoption in auto industry. RTM process is expected to grow at a CAGR of 9.3% during the forecast period (2018-2024).
Composite materials are replacing steel, aluminum and other components in vehicle interiors, exteriors, structures, chassis and powertrain, among others. Among different application areas, exterior application held the highest market share and was valued at US $641.0 million in 2017 and is anticipated to grow to US $1,086.1 million by 2024 at a CAGR of 7.9% during the forecast period (2018-2024). However, because of increase in demand of composite materials for interior body parts and stringent regulations on in cabin air quality, this segment will grow the fastest and is anticipated to reach US $123.9 million by 2024 from US $67.8 million in 2017 at a CAGR of 9.1% during the forecast period (2018-2024).
The usage of composite materials in Super Cars is immense, they used in almost all the parts of Super Cars. However, market penetration of composites is rapidly increasing in passenger cars segment, in addition passenger cars is the largest automotive segment of European automotive industry. Owing to such factors, passenger cars segment held the highest market share in European automotive composite materials market with market value of US $926.9 million in 2017 and is anticipated to reach US $1,554.1 million by 2024 at a CAGR of 7.8%.
Some of the prominent countries pertaining to automotive composite materials market include Germany, France, the U.K, Spain, Russia, Italy and Rest of Europepe. In Europe, Germany is expected to lead the market because of the presence of several prominent automotive OEMs and composite material suppliers; in addition Germany has the largest automotive industry in Europe. The market value of Germany was estimated at US $173.1 million in 2017 and is anticipated to reach US $306.9 million by 2024 at a CAGR of 8.6% during the forecast period (2018-2024).
Some of the major key players in the automotive composite materials market include BASF, 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 global 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
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 Europe Automotive Composite Materials Market, by Material Type
11.1.2 Europe Automotive Composite Market, by Manufacturing Process
11.1.3 Europe Automotive Composite Materials market, by Application
11.1.4 Europe Automotive Composite Materials Market, by Vehicle Type
11.1.5 Europe Automotive Composite Materials Market, by Country
11.1.5.1 Germany Automotive Composite Materials Market
11.1.5.1.1 Germany Automotive Composite Market, by Material Type
11.1.5.1.2 Germany Automotive Composite Market, by Manufacturing Process
11.1.5.1.3 Germany Automotive Composite Market, by Application
11.1.5.1.4 Germany Automotive Composite Market, by Vehicle Type
11.1.5.2 France Automotive Composite Materials Market
11.1.5.2.1 France Automotive Composite Market, by Material Type
11.1.5.2.2 France Automotive Composite Market, by Manufacturing Process
11.1.5.2.3 France Automotive Composite Market, by Application
11.1.5.2.4 France Automotive Composite Market, by Vehicle Type
11.1.5.3 UK Automotive Composite Materials Market
11.1.5.3.1 UK Automotive Composite Market, by Material Type
11.1.5.3.2 UK Automotive Composite Market, by Manufacturing Process
11.1.5.3.3 UK Automotive Composite Market, by Application
11.1.5.3.4 UK Automotive Composite Market, by Vehicle Type
11.1.5.4 Spain Automotive Composite Materials Market
11.1.5.4.1 Spain Automotive Composite Market, by Material Type
11.1.5.4.2 Spain Automotive Composite Market, by Manufacturing Process
11.1.5.4.3 Spain Automotive Composite Market, by Application
11.1.5.4.4 Spain Automotive Composite Market, by Vehicle Type
11.1.5.5 Russia Automotive Composite Materials Market
11.1.5.5.1 Russia Automotive Composite Market, by Material Type
11.1.5.5.2 Russia Automotive Composite Market, by Manufacturing Process
11.1.5.5.3 Russia Automotive Composite Market, by Application
11.1.5.5.4 Russia Automotive Composite Market, by Vehicle Type
11.1.5.6 Italy Automotive Composite Materials Market
11.1.5.6.1 Italy Automotive Composite Market, by Material Type
11.1.5.6.2 Italy Automotive Composite Market, by Manufacturing Process
11.1.5.6.3 Italy Automotive Composite Market, by Application
11.1.5.6.4 Italy Automotive Composite Market, by Vehicle Type
11.1.5.7 Rest of Europe Automotive Composite Materials Market
11.1.5.7.1 Rest of Europe Automotive Composite Market, by Material Type
11.1.5.7.2 Rest of Europe Automotive Composite Market, by Manufacturing Process
11.1.5.7.3 Rest of Europe Automotive Composite Market, by Application
11.1.5.7.4 Rest of Europe Automotive Composite Market, by Vehicle Type
12 COMPETITIVE SCENARIO
12.1 Europe 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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