Automotive Composites Market 2018 Future Trends with Companies – Hexcel, Johns Manville, Owens Corning, Toray Industries, Teijin

Global Automotive Composites Market demand is expected to cross 4000 kilo tons till 2024. Continuously rising efforts by vehicle manufacturers across the globe for reduction in overall vehicles weight will primarily drive the automotive composites market growth over the forecast timespan. Usage of these composites results in considerable reduction in carbon emissions, that leads to their high preference, positively impacting the industry. However, their excessive costs may hamper the industry growth.

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Automotive composites market from compression is expected to dominate the revenue share surpassing USD 9 billion over the next eight years owing to high usage of this process in glass fiber composites. Moreover, this process is used for mass production of composites, further supporting the industry dominance. RTM is likely to exhibit around 7% CAGR till 2024 owing to regular innovations in this process over the past years. Moreover, it is increasingly being used by the manufacturers to create low cost products, further propelling the industry growth.

Automotive Composites Market, By Fiber

• Glass
• Carbon
• Natural

Automotive Composites Market, By Resin

• Thermoset
• Thermoplastic

Automotive Composites Market, By Manufacturing Process

• Compression
• Injection
• Resin Transfer Moulding (RTM)

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. ACP Composites
2. Clear Water Composites
3. Cytec Solvay Group
4. DowAksa
5. Hexcel Corporation
6. HITCO Carbon Composites
7. Johns Manville Corporation
8. Jushi Group Co., Ltd.
9. Koninklijke Ten Cate bv
10. Mitsubishi Rayon Co., Ltd.
11. Owens Corning Corp.
12. Polar Manufacturing
13. Protech Composites
14. Revchem Composites
15. Rock West Composites
16. Scott Bader
17. SGL Group
18. Teijin Limited
19. Toho Tenax America
20. Toray Industries
21. Wolf Composites
22. Zoltek Carbon Fiber

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Thermoset resins are expected to generate a demand of over 2,500 kilo tons and capture over 55% of the automotive composites market revenue share till 2024. Ease of manufacturing and convenient impregnation of reinforced fibers will primarily drive the industry growth. Benefits such as resistance to high temperatures and corrosives & solvents, enhanced adhesion and finishing, and tailored elasticity will further support the revenue generation. Thermoplastic resins are likely to witness over 6.5% CAGR owing to their rising adoption due to reforming abilities and higher impact resistance as compared to its counterpart.

Exterior applications will account for around USD 9 billion by 2024 owing to extensive usage of these composites in exterior vehicle applications. usage of these composites results in 20% weight reduction coupled with higher damage tolerance and less production time. Automotive composites market from structural and powertrain application will exhibit around 7% CAGR owing to high usage of glass and carbon fibers in vehicle’s structural components. Enhanced fuel efficiency is another factor supporting the industry growth over the coming years.

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Asia Pacific automotive composites market is expected to capture over 45% revenue share till 2024. Presence of numerous vehicle manufacturers across the regions coupled with continuously rising vehicle production, especially in emerging countries including India and China will primarily support the revenue generation. Europe will pose around 6% CAGR owing to extensive usage of composites due to stringent regulations regarding carbon emissions from vehicles. Rising R&D investments along with established automobile industry will further propel the regional growth over the forecast timeframe.

ACP Composites, Hexcel Corporation, Johns Manville Corporation, DowAksa, Owens Corning Corp., Revchem Composites, and SGL Group are among the noticeable players in the automotive composites market. Other prominent participants include Clear Water Composties, Jushi Group Co. Ltd., Protech Composites, and Toray Industries.

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