North America Market Insights on Automotive Composite Materials, 2018-2024: Emphasis on Material Type (Polymer Matrix Composites, Metal Matrix Composites, Ceramic Matrix Composites and Hybrid Composites), Manufacturing Process (Hand Lay up, Compression Molding, Injection Molding, Resin Transfer Molding)
September 2018
137
About the Report
About the Report
The firmness from the government side made the auto players find ways to reduce GHG emissions by their vehicles. In this respect, using composite materials is one the most preferred was of reducing GHG emissions. The usage of composite materials not only reduces the emission but also imparts superior properties than the traditional materials. Besides this, there is a growing adoption of composite materials in fuel-efficient vehicles, as they compensate the weight increased by the batteries. Further, the presence of some of the leading automotive OEMs and composite material suppliers strengthens the North America automotive composite materials market. Some of the composite materials players in North America include Hexel Corporation, Continental Structural Plastics, Cytec Industries, Dow Automotive Systems, DuPont and Magna International Inc., among others. In addition to this, with the growing demand for composite materials in North America, there is a visible increase in the number of material supplier startups. Owing to this, the North America automotive composite materials market is expected to reach US USD 1,454.87 million in 2024 from US USD 692.67 million in 2017 at a CAGR of 11.3% during the forecast period (2018-2024).On the other hand, the major factors that are hampering the market growth are the high cost of the raw materials and recyclability issues. In spite of this, the increasing demand for hybrid composites and increasing OEM and supplier relationships within the region are considered to be the key opportunity areas for the players in the supply chain.
Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite are different types of composite materials widely used across the automotive industry. Currently, PMCs are the most popular composite type among the automakers, as they have high flexibility, high insulation, lower density and lighter weight than other composite materials. Owing to such factors, North America polymer matrix composite segment held the highest market value of US USD 525.5 million in 2017 and is anticipated to reach US USD 1,096.5 million by 2024 at a CAGR of 11.2% during the forecast period (2018-2024). However, because of lower cost, lesser cycle time and better structural and mechanical properties of hybrid composites, they have high growth opportunities and are expected to growth at a CAGR of 13.9% during the forecast period (2018-2024).
The properties of the composite materials change with the manufacturing techniques, hence these techniques are considered as an important aspect of the composites. Some of the popular manufacturing processes include Hand Lay Up, Compression Moulding, Injection Moulding, and Resin Transfer Moulding (RTM). Injection Moulding dominated the North American market in 2017 with a market value of US USD 318.8 million and is anticipated to reach US USD 669.90 million by 2024 at a CAGR of 11.3% during the forecast period (2018-2024). On the other side, RTM will be the fastest-growing manufacturing process, because of its growing adoption in the auto industry. RTM is widely used for mass production of large and complex surfaces, they completely satisfy the low cost- high volume requirement of the automotive industry. RTM held US USD 57.3 million market value in 2017 and is expected to reach US USD 130.4 million by 2024 at a CAGR of 12.6% during the forecast period.
Moreover, a visible surge in the usage of composite materials is witnessed across all the vehicle segments. These are replacing steel, aluminum and other materials in vehicle interiors, exteriors, structures, chassis, powertrain, and others. Among different application areas, the exterior application held the highest market value with a market value of US USD 470.6 million in 2017 and is anticipated to grow at a CAGR of 11.1% to reach US USD 978.40 million by the end of the forecast period. However, the stringent regulations on vehicle interior air quality within the region are expected to fuel the demand for composite demand for vehicle interiors. Owing to this, North America's interior application market is poised to grow at a CAGR of 12.3% during the forecast period (2018-2024).
Among several vehicle types, which include passenger cars, Super Cars, and others, the passenger car segment is the largest vehicle market in the region. Hence passenger cars held the highest market share with the market value of US USD 680.4 million in 2017 and are anticipated to reach US USD 1,400.0 million by 2024 at a CAGR of 11.0%. In addition to this, the largest market share of passenger cars among the vehicle segment is attributed to the growing adoption of composites in this segment.
In the North America automotive composite materials market, the U.S dominated the market. It is evident from the fact that the U.S has the largest automotive industry in the region, further the presence of several material suppliers, automotive OEMs, stringent emission regulations and increasing adoption of composites in electric vehicles are attributed to be the major factors for the dominance of the U.S in the region. The U.S automotive composite materials market was valued at US USD 531.1 million in 2017 and is anticipated to reach US USD 1,028.0 million by 2024 at a CAGR of 10.0% during the forecast period. Some of the major local and foreign key players active in the North America automotive composite materials market include BASF, DowDupont, Gurit Holding AG, Magna International Inc., Mitsubishi Chemicals Holding Corporation, Owens Corning, SGL Group, Solvay S.A., Teijin Limited and Toray Industries Inc. These players are entering into several competitive strategies (partnerships, merger-acquisitions, joint venture, new product launch, business expansion, and others) with each other or other supplier or automotive OEMs to strengthen their position in the North America automotive composite materials market.
Products
Companies
BASF SE, DowDuPont Inc., Gurit Holding AG, Magna International Inc., Mitsubishi Chemical Holdings Corporation, Owens Corning, SGL Group, Solvay SA, Teijin Limited, Toray Industries Inc.
Table of Contents
Table of Contents
1 MARKET INTRODUCTION
1.1 Market Definition
1.2 Objective of the Study
1.3 Limitation
1.4 Stakeholders
1.5 Currency used in the Report
2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1 Secondary Data
2.1.1 Key Secondary Sources
2.2 Primary Data
2.2.1 Sampling Techniques & Data Collection Methods
2.2.2 Primary Participants
3 INDUSTRY PERFORMANCE
4 EXECUTIVE SUMMARY
5 MARKET OVERVIEW
5.1 Market Dynamics
5.1.1 Market Trends & Drivers
5.1.1.1 Stringent Government Regulations on GHG emission
5.1.1.2 Increasing Demand of Composites among Hybrid and Electric Vehicles
5.1.1.3 Superior Structural and Mechanical Properties
5.1.2 Market Restraints
5.1.2.1 High Cost of the Raw Materials
5.1.2.2 Lack of Innovation and Advancements in Emerging Countries
5.1.3 Opportunities
5.1.3.1 Growing Scope of Hybrid Composite Materials
5.1.3.2 Increase in partnerships Between OEMs and Composite Manufacturers
6 BENEFITS OF COMPOSITE MATERIALS
7 MARKET INSIGHTS BY MATERIAL TYPE
7.1 General Overview
7.2 Polymer Matrix Composite (PMC)
7.2.1 Thermoset Matrix
7.2.2 Thermoplastic Matrix
7.3 Metal Matrix Composite (MMC)
7.4 Ceramic Matrix Composite (CMC)
7.5 Hybrid Composites
8 MARKET INSIGHTS BY MANUFACTURING PROCESS
8.1 General Overview
8.2 Hand Lay up
8.3 Compression Molding
8.4 Injection Molding
8.5 Resin Transfer Molding
9 MARKET INSIGHTS BY APPLICATION
9.1 General Overview
9.2 Interior
9.3 Exterior
9.4 Chassis, Powertrain and Under the Hood
9.5 Structural
10 MARKET INSIGHTS BY VEHICLE TYPES
10.1 Overview
10.2 Performance Cars
10.3 Passenger Cars
10.4 Others (Light Commercial Vehicles, Buses, Trucks and Others)
11 MARKET INSIGHTS BY COUNTRY
11.1 General Overview
11.1.1 North America Automotive Composite Materials Market, by Material Type
11.1.2 North America Automotive Composite Market, by Manufacturing Process
11.1.3 North America Automotive Composite Materials market, by Application
11.1.4 North America Automotive Composite Materials Market, by Vehicle Type
11.1.5 North America Automotive Composite Materials Market, by Country
11.1.5.1 United States Automotive Composite Materials Market
11.1.5.1.1 United States Automotive Composite Market, by Material Type
11.1.5.1.2 United States Automotive Composite Market, by Manufacturing Process
11.1.5.1.3 United States Automotive Composite Market, by Application
11.1.5.1.4 United States Automotive Composite Market, by Vehicle Type
11.1.5.2 Canada Automotive Composite Materials Market
11.1.5.2.1 Canada Automotive Composite Market, by Material Type
11.1.5.2.2 Canada Automotive Composite Market, by Manufacturing Process
11.1.5.2.3 Canada Automotive Composite Market, by Application
11.1.5.2.4 Canada Automotive Composite Market, by Vehicle Type
11.1.5.3 Mexico Automotive Composite Materials Market
11.1.5.3.1 Mexico Automotive Composite Market, by Material Type
11.1.5.3.2 Mexico Automotive Composite Market, by Manufacturing Process
11.1.5.3.3 Mexico Automotive Composite Market, by Application
11.1.5.3.4 Mexico Automotive Composite Market, by Vehicle Type
11.1.5.4 Rest of NA Automotive Composite Materials Market
11.1.5.4.1 Rest of NA Automotive Composite Market, by Material Type
11.1.5.4.2 Rest of NA Automotive Composite Market, by Manufacturing Process
11.1.5.4.3 Rest of NA Automotive Composite Market, by Application
11.1.5.4.4 Rest of NA Automotive Composite Market, by Vehicle Type
12 COMPETITIVE SCENARIO
12.1 North America Automotive Composite Materials Market Share of Major Players, 2017
13 COMPANY PROFILES
13.1 BASF SE
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Key Product/Services Offerings
13.1.4 SWOT Analysis
13.1.5 Key Financials
13.1.5.1 Revenue Split, by Region
13.1.5.2 Revenue Split, by Business Segment
13.1.6 Recent Developments
13.2 DowDuPont Inc.
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Key Product/Services Offerings
13.2.4 SWOT Analysis
13.2.5 Key Financials
13.2.5.1 Revenue Split, by Region
13.2.5.2 Revenue Split, by Business Segment
13.2.6 Recent developments
13.3 Gurit Holding AG
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Key Product/Services Offerings
13.3.4 SWOT Analysis
13.3.5 Key Financials
13.3.5.1 Revenue Split, by Region
13.3.5.2 Revenue Split, by Business Segment
13.3.6 Recent developments
13.4 Magna International Inc.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Key Product/Services Offerings
13.4.4 SWOT Analysis
13.4.5 Key Financials
13.4.5.1 Revenue Split, by Region
13.4.5.2 Revenue Split, by Business Segment
13.4.6 Recent developments
13.5 Mitsubishi Chemical Holdings Corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Key Product/Services Offerings
13.5.4 SWOT Analysis
13.5.5 Key Financials
13.5.5.1 Revenue Split, by Region
13.5.5.2 Revenue Split, by Business Segment
13.5.6 Recent developments
13.6 Owens Corning
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Key Product/Services Offerings
13.6.4 SWOT Analysis
13.6.5 Key Financials
13.6.5.1 Revenue Split, by Region
13.6.5.2 Revenue Split, by Business Segment
13.6.6 Recent developments
13.7 SGL Group
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 SWOT Analysis
13.7.4 Key Financials
13.7.4.1 Revenue Split, by Region
13.7.4.2 Revenue Split, by Business Segment
13.7.4.3 Revenue of CFM, by Industry
13.7.4.4 Revenue of GMS, by Industry
13.7.5 Recent developments
13.8 Solvay SA
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Key Product/Services Offerings
13.8.4 SWOT Analysis
13.8.5 Key Financials
13.8.5.1 Revenue Split, by Region
13.8.5.2 Revenue Split, by Business Segment
13.8.1 Recent developments
13.9 Teijin Limited
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Key Product/Services Offerings
13.9.4 SWOT Analysis
13.9.5 Key Financials
13.9.5.1 Revenue Split, by Region
13.9.5.2 Revenue Split, by Business Segment
13.9.6 Recent developments
13.1 Toray Industries Inc.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Key Product/Services Offerings
13.10.4 SWOT Analysis
13.10.5 Key Financials
13.10.5.1 Revenue Split, by Region
13.10.5.2 Revenue Split, by Business Segment
13.10.6 Recent developments
List of Figure
FIG. 1 North America Automotive Composites Market Size, 2014-24 (USD Mn)
FIG. 2 Electric Vehicles Sales by Country (Thousands), 2015 & 2016
FIG. 3 Distribution of Crash Positions in a Vehicle
FIG. 4 Cost Comparison of Automotive Materials
FIG. 5 Supply Chain of Automotive Composite Materials Market
FIG. 6 Different Stages in Value Chain of Automotive Composite Materials Industry
FIG. 7 Benefits of Composite Material
FIG. 8 North America Automotive Composite Materials Market Share, by Material type, 2017 & 2024 (%)
FIG. 9 North America Automotive Composite Materials Market Size, by Material type 2017-2024 (USD Mn)
FIG. 10 North America PMC Market Size, by Country, 2017-24 (USD Mn)
FIG. 11 North America PMC market, by Matrix Type, 2017-24 (USD Mn)
FIG. 12 North America Thermoset Matrix Market Size, by Country, 2017-24 (USD Mn)
FIG. 13 North America Thermoplastic Matrix Market Size, by Country, 2017-24 (USD Mn)
FIG. 14 North America Metal Matrix Composite Market Size, by Country, 2017-24 (USD Mn)
FIG. 15 North America Ceramic Matrix Composite Market Size, by Country, 2017-24 (USD Mn)
FIG. 16 North America Ceramic Matrix Composite Market Size, by Country, 2017-24 (USD Mn)
FIG. 17 North America Automotive Composites Market Share, by Manufacturing Process, 2017 & 2024 (%)
FIG. 18 North America Automotive Composites Market Size, by Manufacturing Process, 2017-24 (USD Mn)
FIG. 19 North America Hand lay Up Market Size, by Country, 2017-24 (USD Mn)
FIG. 20 North America Compression Moulding Market Size, by Country, 2017-24 (USD Mn)
FIG. 21 North America Injection Moulding Market Size, by Country, 2017-24 (USD Mn)
FIG. 22 North America Resin Transfer Moulding Market Size, by Country, 2017-24 (USD Mn)
FIG. 23 North America Automotive Composites Market Size, by Application Type, 2017 & 2024 (%)
FIG. 24 North America Automotive Composites Market Size, by Application Type, 2017-24 (USD Mn)
FIG. 25 North America Interior Application Market Size, by Country, 2017-24 (USD Mn)
FIG. 26 North America Interior Application Market Size, by Country, 2017-24 (USD Mn)
FIG. 27 North America Chassis, Powertrain and Under the Hood Application Market Size, by Country, 2017-24 (USD Mn)
FIG. 28 North America Structural Application Market Size, by Country, 2017-24 (USD Mn)
FIG. 29 North America Automotive Composites Market Share, by Vehicle Type, 2017 & 2024 (%)
FIG. 30 North America Automotive Composites Market Size, by Vehicle Type, 2017-24 (USD Mn)
FIG. 31 North America Super Cars Market Size, by Country, 2017-24 (USD Mn)
FIG. 32 North America Passenger Cars Market Size, by Country, 2017-24 (USD Mn)
FIG. 33 North America Other Cars Market Size, by Country, 2017-24 (USD Mn)
FIG. 34 North America Automotive Composite Materials Market Share, by Country, 2017 & 2024 (%)
FIG. 35 North America Automotive Composite Materials Market Size, by Country, 2017-24 (USD Mn)
FIG. 36 The US Automotive Composite Materials Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 37 The US Polymer Matrix Composites Market Size, by Matrix Type, 2017-24 (USD Mn)
FIG. 38 The US Automotive Composite Market Size, by Manufacturing Process, 2017-24 (USD Mn)
FIG. 39 The US Automotive Composite Materials Market Size, by Application, 2017-24 (USD Mn)
FIG. 40 The US Automotive Composite Materials Market Size, by Vehicle Type, 2017-24 (USD Mn)
FIG. 41 Canada Automotive Composite Materials Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 42 Canada Polymer Matrix Composites Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 43 Canada Automotive Composite Market Size, by Manufacturing Process, 2017-24 (USD Mn)
FIG. 44 Canada Automotive Composite Materials Market Size, by Application, 2017-24 (USD Mn)
FIG. 45 Canada Automotive Composite Materials Market Size, by Vehicle Type, 2017-24 (USD Mn)
FIG. 46 Mexico Automotive Composite Materials Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 47 Mexico Polymer Matrix Composites Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 48 Mexico Automotive Composite Market Size, by Manufacturing Process, 2017-24 (USD Mn)
FIG. 49 Mexico Automotive Composite Materials Market Size, by Application, 2017-24 (USD Mn)
FIG. 50 Mexico Automotive Composite Materials Market Size, by Vehicle Type, 2017-24 (USD Mn)
FIG. 51 Rest of NA Automotive Composite Materials Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 52 Rest of NA Polymer Matrix Composites Market Size, by Material Type, 2017-24 (USD Mn)
FIG. 53 Rest of NA Automotive Composite Market Size, by Manufacturing Process, 2017-24 (USD Mn)
FIG. 54 Rest of NA Automotive Composite Materials Market Size, by Application, 2017-24 (USD Mn)
FIG. 55 Rest of NA Automotive Composite Materials Market Size, by Vehicle Type, 2017-24 (USD Mn)
FIG. 56 NA Automotive Composite Materials Market Share by Key Players, 2017
FIG. 57 BASF, SWOT Analysis
FIG. 58 BASF SE, Revenue Split, 2017
FIG. 59 Cisco Systems, SWOT Analysis
FIG. 60 DowDuPont Inc., Revenue Split, 2017
FIG. 61 Gurit Holding, SWOT Analysis
FIG. 62 Gurit Holding, Revenue Split, 2017
FIG. 63 Cisco Systems, SWOT Analysis
FIG. 64 Magna International, Revenue Split, 2017
FIG. 65 Mitsubishi Chemical, SWOT Analysis
FIG. 66 Cisco Systems, Revenue Split, 2017
FIG. 67 Owens Corning, SWOT Analysis
FIG. 68 Owens Corning, Revenue Split, 2017
FIG. 69 SGL Group, SWOT Analysis
FIG. 70 SGL Group, Revenue Split, 2017
FIG. 71 Solvay, SWOT Analysis
FIG. 72 Cisco Systems, Revenue Split, 2017
FIG. 73 Teijin Limited, SWOT Analysis
FIG. 74 Teijin Limited, Revenue Split, 2017
FIG. 75 Toray Industries, SWOT Analysis
FIG. 76 Toray Industries, Revenue Split, 2017
List of Table
TABLE 1 Regulations on GHG Emission
TABLE 2 BASF SE Key Facts
TABLE 3 Products segmentation of BASF SE
TABLE 4 BASF SE Growth Strategy
TABLE 5 BASF SE financials, USD Mn
TABLE 6 DowDuPont Inc. key facts
TABLE 7 Products segmentation of DowDuPont Inc.
TABLE 8 DowDuPont Inc. Growth Strategy
TABLE 9 DowDuPont Inc. Financials, USD Mn
TABLE 10 Gurit Holding AG Key Facts
TABLE 11 Products segmentation of Gurit Holding AG
TABLE 12 Gurit Holding AG Growth Strategy
TABLE 13 Gurit Holding AG financials, USD Mn
TABLE 14 Magna International Inc. Key Facts
TABLE 15 Products segmentation of Magna International Inc.
TABLE 16 Magna International Inc. Financials, USD Mn
TABLE 17 Mitsubishi Chemical Holdings Corporation Key Facts
TABLE 18 Products segmentation of Mitsubishi Chemical Holdings Corporation
TABLE 19 Mitsubishi Chemical Holdings Corporation Financials, USD Mn
TABLE 20 Owens Corning Key Facts
TABLE 21 Products segmentation of Owens Corning
TABLE 22 Owens Corning Growth Strategy
TABLE 23 Owens Corning Financials, USD Mn
TABLE 24 SGL Group key facts
TABLE 25 Products segmentation of Cisco Systems
TABLE 26 SGL Group, Growth Strategy
TABLE 27 SGL Group financials, USD Mn
TABLE 28 Solvay SA key facts
TABLE 29 Products segmentation of Solvay SA
TABLE 30 Solvay SA Growth Strategy
TABLE 31 Solvay SA financials, USD Mn
TABLE 32 Teijin Limited name key facts
TABLE 33 Products segmentation of Teijin Limited
TABLE 34 Teijin Limited Growth Strategy
TABLE 35 Teijin Limited name financials, USD Mn
TABLE 36 Toray Industries Inc. name key facts
TABLE 37 Products segmentation of Toray Industries Inc.
TABLE 38 Toray Industries Inc. Growth Strategy
TABLE 39 Toray Industries Inc. name financials, USD Mn
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