According to a new market report published by Lucintel, the future of thermoplastic resin in the global automotive composites market looks good with opportunities in various applications such as powertrain system, electrical and electronics, chassis system, interior, exterior, under body system, and others. Thermoplastic resin in the global automotive composites market is expected to reach an estimated $4.7 billion by 2022 and it is forecast to grow at a CAGR of 5.1% from 2017 to 2022. The major growth drivers for this market are increasing automotive production and growing demand for lightweight and durable materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions. The other major drivers of thermoplastic resin for automotive are higher impact strength, better surface finish to the composite materials, and higher production rates than thermoset resin.
Browse 40 market data tables and 198 figures spread through 258 pages and in-depth TOC on “Thermoplastic Resin in the Global Automotive Composites Market"
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In this market, exterior, interior, power train system, under body system, electrical and electronics, chassis system, and others are the major applications. On the basis of its comprehensive research, Lucintel forecasts that the power train system/ engine component is expected to be the largest market and under body system is expected to show the highest growth rate during the forecast period of 2017 to 2022.
Within thermoplastic resin in the global automotive composites market, glass mat thermoplastic (GMT), short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), continuous fiber thermoplastic (CFT), and others are the major intermediate materials for manufacturing automotive parts. SFT is expected to remain the largest market by value and volume, mainly driven by small complex shaped components in powertrain system applications.
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By resin type, polyamide (PA) 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 PA composite demand in automotive.
Europe is expected to remain the largest market due to growing demand for lightweight and environmentally sustainable composite materials from the automotive industry. Government regulations, such as CAFÉ Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate light-weight materials to curb the overall vehicle weight, and this is the key driver for thermoplastic resin in the automotive industry.
For business expansion, Lucintel’s report suggests innovation and new product development to achieve higher thermal and hydrolysis resistance with improved mechanical properties for thermoplastic resin. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
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Emerging trends, which have a direct impact on the dynamics of the industry, include increasing inter-material competition and increasing focus on continuous fiber reinforced thermoplastic composites. Celanese’s Advanced Engineered Materials (Ticona), SABIC, Tencate, Cytec, BASF, DSM, Dupont and Quadrant are among the major suppliers of thermoplastic resin in the global automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of thermoplastic resin in the global automotive composites market by application, material type, by resin type and by region and has come up with a comprehensive research report entitled “Growth Opportunities of Thermoplastic Resin in the Global Automotive Composites Market 2017-2022: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for thermoplastic resin in the global automotive composites market through 2022 segmented by application, intermediate material type, resin type, by country and by region as follows:
Automotive thermoplastic resin composites market by Application Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
Interior
Exterior
Under body systems
Chassis System
Power train system/ engine components
Electrical and Electronics
Others
Automotive thermoplastic resin composites market by Material Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
Glass Mat Thermoplastic (GMT)
Short Fiber Thermoplastic (SFT)
Long Fiber Thermoplastic (LFT)
Continuous Fiber Thermoplastic (CFT)
Others
Automotive thermoplastic resin composites market by Resin Type (Value ($M) and Volume (M lbs) from 2011 to 2022):
Polypropylene (PP) Composites
Polybutylene terephthalate (PBT) Composites
Polyamide (PA) Composites
Others
Automotive thermoplastic resin composites market by Region (Value ($M) and Volume (M lbs) from 2011 to 2022)
North American
Europe
Asia Pacific (APAC)
Rest of the World
Automotive thermoplastic resin composites market by Country (Value ($M) and Volume (M lbs) 2016)
US
Canada
Mexico
Germany
UK
France
Italy
Spain
China
India
Brazil
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This 258-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 http://www.lucintel.com/toc/thermoplastic_resin_in_automotive_composites.aspx or helpdesk@lucintel.com.
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