Automotive Composites Market 2018 Industry Leading Players - Hexcel Corporation, Johns Manville, Owens Corning, Toray Industries, Teijin

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.

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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.

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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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 ver the forecast timeframe.

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.

Natural fibers will exhibit over 7.5% CAGR from 2017 to 2024 owing to their high usage in exterior vehicle applications as a replacement of glass fibers. This shifting preference is attributable to its light weighing capabilities as compared to the counterparts. Automotive composites market from glass fiber accounted for over USD 9 billion in 2016 and is anticipated to continue its dominance over the forecast timeframe. The substantial revenue generation is attributed to its advantages over the counterparts such as higher strength, and resistance to heat & chemical attacks. Better thermal insulation is another factor supporting the industry dominance.

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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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