‘Automotive Composite Liftgate Market to become US$ 1,183.3 million opportunity over the next five years’ – Stratview Research Market Report

As per the latest market intelligence report published by Stratview Research, the Automotive Composite Liftgate Market is anticipated to reach at US$ 1,183.3 million by 2024.

The research studies Automotive Composite Liftgate Market in the trend period of 2013 to 2018 and forecasted period of 2019 to 2024 under three segments by Vehicle Type (Hatchback, SUV, and Others), by Manufacturing Process Type (Compression Molding, and Injection Molding), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2019-2024

The study finds –
 Europe to remain the largest market for composite liftgates, European OEMs such as Group PSA, Groupe Renault, and BMW AG have been the early movers in adopting composite liftgate, which has led to the dominance of the region in the global market.
 Hatchback is likely to remain the most dominant vehicle type, Renault Clio and Megane, Peugeot 308 and 508, and BMW i3 are some key hatchback models that contain composite liftgate.
 Injection molding is expected to remain the most dominant process over the next five years, whereas compression molding is likely to experience a higher growth during the same period.

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Automotive Composite Liftgate Market: Highlights
Liftgate is generally made of steel by auto OEMs themselves; however, with the advent of lightweight components, composites have been in limelight and have already become successful in making a remarkable presence in liftgate of vehicles. Composites play a vital role in contributing to weight reduction without compromising the strength and performance of the overall system. This is attracting tier players as well as raw material suppliers including resin, fiber, and coating suppliers, to tap the growing opportunity of composites in the automotive liftgate market.

Composite liftgate is among the few automotive components that are experiencing staggering growth. Composite liftgate account for less than one-fifth of the overall liftgate market at present but offers huge growth potential in the coming years. Stringent regulations imposed by governments of many countries are putting pressure on the automakers to curb the overall vehicle weight to increase fuel efficiency or reduce carbon emissions. As a result, liftgates experienced a significant change in the selection of materials over the period.

The global composite liftgate market is likely to experience excellent growth over the next five years to reach an estimated value of US$ 1,183.3 million in 2024. Increasing automotive production, increasing share of SUVs in the overall vehicle production, and increasing demand for lightweight liftgate over bulky metallic liftgate are some of the key factors driving the growth of the automotive composite liftgate market. Ford Motor Company, Nissan Motor Co. Ltd., BMW AG, Groupe Renault, Group PSA, and The Volvo Group are some of the major OEMs that have switched towards composite liftgate in some of their mass-selling models.

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The market is segmented based on the vehicle type as Hatchback, SUV, and Others. Hatchback is likely to remain the most dominant segment over the next five years; however, SUV is likely to be the fastest-growing segment during the same period. Renault Clio and Megane, Peugeot 308 and 508, and BMW i3 are some key hatchback models that contain composite liftgate.

The market is segmented based on the manufacturing process type as Injection Molding and Compression Molding. Injection molding is expected to remain the most dominant process over the next five years, whereas compression molding is likely to experience a higher growth during the same period. Sheet molding compound (SMC) and long-fiber-reinforced thermoplastic (LFRT) compounds are the major types of composites being processed for fabricating composite liftgate.

Based on regions, Europe is expected to remain the largest market for composite liftgates during the forecast period. European OEMs such as Group PSA, Groupe Renault, and BMW AG have been the early movers in adopting composite liftgate, which has led to the dominance of the region in the global market.

Asia-Pacific is likely to be the fastest-growing region in the composite liftgate market, driven by China. Despite weakening economic growth of China, the country is still able to attract investments from automakers. All the major global automakers are rolling out their assembly plants in the country in order to serve the growing local demands as well as the export market. This is also casting a huge impact on the overall market dynamics of liftgates as the country is gradually becoming the major market for composite liftgates.
Major automotive composite liftgate manufacturers are Plastic Omnium Group, Magna International Inc. and Trinseo S.A.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum input to the entire value chain of BMI Prepreg. The key features of the report are -
 Market structure: Overview, industry life cycle analysis, supply chain analysis
 Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
 Market trend and forecast analysis
 Market segment trend and forecast
 Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
 Attractive market segments and associated growth opportunities
 Emerging trends
 Strategic growth opportunities for the existing and new players
 Key success factors.

Stratview follows a rigorous process for conducting business research from primary and secondary sources to understand the entire market ecosystem. It has several high value market reports in the chemicals and materials industry. Please refer to the following link to browse through the reports:
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