North America 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)
- UNI2844758
- 137 Pages
- September 2018
- Automotive and Transportation
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. Currently, PMCs are the most popular composite type among the automakers, as they have high flexibility, high insulation, lower density and lighter weight than other composite materials. Owing to such factors, North America polymer matrix composite segment held the highest market value of US $525.5 million in 2017 and is anticipated to reach to US $1,096.5 million by 2024 at a CAGR of 11.2% during the forecast period (2018-2024). However, because of lower cost, lesser cycle time and better structural and mechanical properties of hybrid composites, they have high growth opportunities and are expected to growth at a CAGR of 13.9% during the forecast period (2018-2024).
The properties of the composite materials change with the manufacturing techniques, hence these techniques are considered as an important aspect of the composites. Some of the popular manufacturing processes include Hand Lay Up, Compression Moulding, Injection Moulding, and Resin Transfer Moulding (RTM). Injection Moulding dominated North American market in 2017 with a market value of US $318.8 million and is anticipated to reach US $669.90 million by 2024 at a CAGR of 11.3% during the forecast period (2018-2024). On the other side RTM will be the fastest growing manufacturing process, because of their growing adoption in auto industry. RTM is widely used for mass production of large and complex surfaces, they completely satisfy the low cost- high volume requirement of the automotive industry. RTM held US $57.3 million market value in 2017 and is expected to reach US $130.4 million by 2024 at a CAGR of 12.6% during the forecast period.
Moreover, a visible surge in the usage of composite materials is witnessed across all the vehicle segments. These are replacing steel, aluminum and other materials in vehicle interiors, exteriors, structures, chassis, powertrain and others. Among different application areas, exterior application held the highest market value with a market value of US $470.6 million in 2017 and is anticipated to grow at a CAGR of 11.1% to reach US $978.40 million by the end of forecast period. However the stringent regulations on vehicle interior air quality within the region are expected to fuel the demand of composite demand for vehicle interiors. Owing to which, North America interior application market is poised to grow at a CAGR of 12.3% during the forecast period (2018-2024).
Among several vehicle types, which include passenger cars, Super Cars and others, passenger cars segment is the largest vehicle market in the region. Hence passenger cars held the highest market share with market value of US $680.4 million in 2017 and are anticipated to reach US $1,400.0 million by 2024 at a CAGR of 11.0%. In addition to this, the largest market share of passenger cars among the vehicle segment is attributed to the growing adoption of composites in this segment.
In North America automotive composite materials market, the U.S dominated the market. It is evident from the fact that the U.S has the largest automotive industry in the region, further the presence of several material suppliers, automotive OEMs, stringent emission regulations and increasing adoption of composites in electric vehicles are attributed to be the major factors for the dominance of the U.S in the region. The U.S automotive composite materials market was valued at US $531.1 million in 2017 and is anticipated to reach US $1,028.0 million by 2024 at a CAGR of 10.0% during the forecast period. Some of the major local and foreign key players active in North America 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 North America 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 Superior Structural and Mechanical Properties
5.1.2 Market Restraints
5.1.2.1 High Cost of the Raw Materials
5.1.2.2 Lack of Innovation and Advancements in Emerging Countries
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 North America Automotive Composite Materials Market, by Material Type
11.1.2 North America Automotive Composite Market, by Manufacturing Process
11.1.3 North America Automotive Composite Materials market, by Application
11.1.4 North America Automotive Composite Materials Market, by Vehicle Type
11.1.5 North America Automotive Composite Materials Market, by Country
11.1.5.1 United States Automotive Composite Materials Market
11.1.5.1.1 United States Automotive Composite Market, by Material Type
11.1.5.1.2 United States Automotive Composite Market, by Manufacturing Process
11.1.5.1.3 United States Automotive Composite Market, by Application
11.1.5.1.4 United States Automotive Composite Market, by Vehicle Type
11.1.5.2 Canada Automotive Composite Materials Market
11.1.5.2.1 Canada Automotive Composite Market, by Material Type
11.1.5.2.2 Canada Automotive Composite Market, by Manufacturing Process
11.1.5.2.3 Canada Automotive Composite Market, by Application
11.1.5.2.4 Canada Automotive Composite Market, by Vehicle Type
11.1.5.3 Mexico Automotive Composite Materials Market
11.1.5.3.1 Mexico Automotive Composite Market, by Material Type
11.1.5.3.2 Mexico Automotive Composite Market, by Manufacturing Process
11.1.5.3.3 Mexico Automotive Composite Market, by Application
11.1.5.3.4 Mexico Automotive Composite Market, by Vehicle Type
11.1.5.4 Rest of NA Automotive Composite Materials Market
11.1.5.4.1 Rest of NA Automotive Composite Market, by Material Type
11.1.5.4.2 Rest of NA Automotive Composite Market, by Manufacturing Process
11.1.5.4.3 Rest of NA Automotive Composite Market, by Application
11.1.5.4.4 Rest of NA Automotive Composite Market, by Vehicle Type
12 COMPETITIVE SCENARIO
12.1 North America 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 2 BASF SE Key Facts
TABLE 3 Products segmentation of BASF SE
TABLE 4 BASF SE Growth Strategy
TABLE 5 BASF SE financials, US$ Mn
TABLE 6 DowDuPont Inc. key facts
TABLE 7 Products segmentation of DowDuPont Inc.
TABLE 8 DowDuPont Inc. Growth Strategy
TABLE 9 DowDuPont Inc. Financials, US$ Mn
TABLE 10 Gurit Holding AG Key Facts
TABLE 11 Products segmentation of Gurit Holding AG
TABLE 12 Gurit Holding AG Growth Strategy
TABLE 13 Gurit Holding AG financials, US$ Mn
TABLE 14 Magna International Inc. Key Facts
TABLE 15 Products segmentation of Magna International Inc.
TABLE 16 Magna International Inc. Financials, US$ Mn
TABLE 17 Mitsubishi Chemical Holdings Corporation Key Facts
TABLE 18 Products segmentation of Mitsubishi Chemical Holdings Corporation
TABLE 19 Mitsubishi Chemical Holdings Corporation Financials, US$ Mn
TABLE 20 Owens Corning Key Facts
TABLE 21 Products segmentation of Owens Corning
TABLE 22 Owens Corning Growth Strategy
TABLE 23 Owens Corning Financials, US$ Mn
TABLE 24 SGL Group key facts
TABLE 25 Products segmentation of Cisco Systems
TABLE 26 SGL Group, Growth Strategy
TABLE 27 SGL Group financials, US$ Mn
TABLE 28 Solvay SA key facts
TABLE 29 Products segmentation of Solvay SA
TABLE 30 Solvay SA Growth Strategy
TABLE 31 Solvay SA financials, US$ Mn
TABLE 32 Teijin Limited name key facts
TABLE 33 Products segmentation of Teijin Limited
TABLE 34 Teijin Limited Growth Strategy
TABLE 35 Teijin Limited name financials, US$ Mn
TABLE 36 Toray Industries Inc. name key facts
TABLE 37 Products segmentation of Toray Industries Inc.
TABLE 38 Toray Industries Inc. Growth Strategy
TABLE 39 Toray Industries Inc. name financials, US$ Mn
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