According to a new market report published by Lucintel, the future of the European automotive composites market looks good with growth opportunities in various applications exterior, interior, power train system, chassis system, under body system, and others. The European automotive composites market is expected to reach an estimated $4.1 billion by 2021 and it is forecast to grow at a CAGR of 5.8% from 2016 to 2021. The major drivers of growth for this market are increasing automotive production and increasing demand for lightweight materials to achieve higher fuel efficiency and reduce greenhouse gas emissions. European Union has set new standards requiring passenger cars need to meet a CO2 emissions target of 95 g/km (equivalent to 57.9 mpg) by 2021, and for light commercial vehicles it is 147 g/km (equivalent to 43.3 mpg) by 2020. The European commission proposal to improve European fuel economy standards serves as a major stimulus to incorporate lightweight materials including composites.
Browse 30 market data tables and 83 figures spread through 141 pages and in-depth TOC on “European Automotive Composites Market”
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In this market, sheet molding compound (SMC), bulk molding compound (BMC), glass mat thermoplastic (GMT), short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), continuous fiber thermoplastic (CFT), phenolic composites, polyurethane (PU) composites, natural fiber composites, and other composites are the major material segments. On the basis of its comprehensive research, Lucintel forecasts that natural fiber composites are expected to show highest growth; however, SFT composites are expected to remain the largest market during the forecast period of 2016 to 2021.
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Within the European automotive composites market, polypropylene (PP) composites, polybutylene terephthalate (PBT) composites, polyamide (PA) composites, vinyl ester composites, polyester composites, phenolic composites, and others are the major resin type segments. PP composites are expected to remain the largest market by value and volume consumption. High resistance to abrasion, low friction characteristics, electrical resistance, heat resistance, and good chemical resistance are the properties which drive the demand for PA composites in automotive.
By fiber composites, glass fiber composites market is expected to remain the largest fiber segment; the carbon fiber composites market is expected to witness highest growth over the forecast period. Increasing penetration of carbon composites in sports, luxury and electrical vehicles are the major drivers for usage in automotive market.
By application type, the power train system market is expected to remain the largest market by value and volume consumption. Pressure for fuel economy and reduction in emissions are the major drivers for usage of composites in power train systems.
By country, German automotive composites were the major market for Europe due to the highest rate of automotive production.
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Emerging trends, which have a direct impact on the dynamics of the industry, include increasing penetration of thermoplastic and carbon composites. Another emerging trend is the formation of strategic alliances between OEMs and carbon fiber and resin suppliers in the automotive industry. Plastic omnium, Polytec, BASF, DSM, Polynt, Lanxess and Hanwha are among the major suppliers of composites in the European automotive market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the European automotive composites market by material type, by resin composites type, by fiber composites type, by resin group, by application, and by country and has come up with a comprehensive research report entitled “Growth Opportunities in the European Automotive Composites Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the European automotive composites market by material type, by resin composites type, by fiber composites type, by resin group, by application, and by country are as follows :
By Material Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Sheet Molding Compound (SMC)
- Bulk Molding Compound (BMC)
- Glass Mat Thermoplastic (GMT)
- Short Fiber Thermoplastic (SFT)
- Long Fiber Thermoplastic (LFT)
- Continuous Fiber Thermoplastic (CFT)
- Phenolic Composites
- Polyurethane (PU) Composites
- Natural Fiber Composites
- Other composites
By Resin Composites Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Polypropylene (PP) Composites
- Polybutylene terephthalate (PBT) Composites
- Polyamide (PA) Composites
- Vinyl ester Composites
- Polyester Composites
- Phenolic Composites
- Other Composites
By Fiber Composites Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Glass Fiber Composites
- Carbon Fiber Composites
- Natural Fiber Composites
By Resin Group (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Thermoplastic Composites
- Thermoset Composites
By Application Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Power Train Systems
- Under Body Systems
- Electrical and Electronics
By Country (Volume (M lbs) 2015)
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This 141-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/european-automotive-composites-market-16.aspx or firstname.lastname@example.org.
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 10 key questions:
Q. 1. What are some of the most promising, high-growth trends in the European automotive composites market by material type (SMC, BMC, GMT, SFT, LFT, CFT, Phenolic, PU, Natural Fiber, and other composites), by resin composites type (PP, PBT, Vinyl Ester, PA, Epoxy, Polyester, Phenolic and others), by fiber type (glass fiber, carbon fiber and natural fiber composites), by resin group (thermoplastic and thermoset Composites), by application (interior, exterior, power train system, under body system, electrical and electronics, and others) and by country ( Germany, France, UK, Spain, Italy, and Others?
Q. 2.Which product segments will grow at a faster pace and why?
Q.3.What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.4.What are the business risks and competitive threats in this market?
Q.5. What are the emerging trends in this market and reasons behind them?
Q.6. What are the changing demands of customers in the market?
Q.7.What are the new developments in the market and which companies are leading these developments?
Q.8.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9.What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q. 10. What M & A activities have transpired in the last 5 years in this market?
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