Growth Opportunities in the ASEAN Automotive Composites Market

According to a new market report published by Lucintel, the future of the ASEAN automotive composites market is attractive with opportunities in exterior, interior, power train systems, under body systems, and electrical & electronics applications. The ASEAN automotive composites market is expected to grow with a CAGR of 6.9% from 2021 to 2027.
The major drivers for growth in this market are increasing demand for lightweight parts with high performance benefits in the automotive industry.
In this market, SFT (short fiber thermoplastic), LFT (long fiber thermoplastic), SMC (sheet molding compound), BMC (bulk molding compound), and GMT (glass mat thermoplastic) are the major material types used in different end uses . Lucintel forecast that SFT will remain the largest segment by value and volume and it is also expected to witness highest growth over the forecast period because it offers corrosion resistance, insulation properties, low susceptibility to moisture and high mechanical properties.
Within the ASEAN automotive composites market, power train system industry will remain the largest application and under body system is expected to witness the highest growth over the forecast period due to increasing demand for composite components in automotive industry.
Thailand is expected to remain the largest country by value and volume and it is also expected to experience the highest growth over the forecast period due to growth in end use industries.
Emerging trend, which have a direct impact on the dynamics of the industry, include growing focus on bio-based composites materials. Hanwha, Quadrant Plastic Composites, Polynt-Reichhold, SABIC, Avient, and Cytec Solvay are among the major suppliers of the ASEAN automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the ASEAN automotive composites market by application, material, fiber composites type, resin type, resin group, and country. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the ASEAN Automotive Composites Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the ASEAN automotive composites market by application, material, fiber composites type, resin type, resin group, and country as follows:
This 205-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/asean-automotive-composites-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
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 potential, high-growth opportunities for the ASEAN automotive composites market by application (exterior, interior, power train systems, under body systems, electrical and electronics, and others), material type (SFT (short fiber thermoplastic), LFT (long fiber thermoplastic), SMC (sheet molding compound), BMC (bulk molding compound), and GMT (glass mat thermoplastic), and other), fiber composites type (glass fiber, carbon fiber and natural fiber), resin type (PP (polypropylene), PA (polyamide), PBT (polybutylene terephthalate), polyester, vinyl ester and others), resin group (thermoplastic, thermoset), and country (Malaysia, Thailand, Vietnam, Indonesia, and others)?
Q.2 Which 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 of the market?
Q.4 What are the business risks and threats to the market?
Q.5 What are the emerging trends in this market and the 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? 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 and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.10 What M & A activities have taken place in the last 5 years in this market?