Automotive Polymer Composites Market Introduction and Overview
According to SPER Market Research, the Global Automotive Polymer Composites Market is estimated to reach USD 17.03 billion by 2033 with a CAGR of 5.26%.
The report includes an in-depth analysis of the Global Automotive Polymer Composites Market, including market size and trends, product mix, applications, and supplier analysis. Advanced materials known as automotive polymer composites are created by mixing polymers with reinforcing fibers, such as glass or carbon, to increase their strength, durability, and capacity to reduce weight. These composites are utilized to increase performance, safety, and fuel efficiency in a variety of automotive components, including dashboards, body panels, and bumpers. They aid in reducing vehicle weight because of its high strength-to-weight ratio, which lowers pollutants and improves fuel efficiency. In addition, compared to more conventional materials like metal, polymer composites provide enhanced crashworthiness, corrosion resistance, and design flexibility. As the car industry works to satisfy stricter environmental requirements and the desire for lighter, more efficient vehicles, their use is expanding.
- February 2023; One of the top manufacturers of thermoplastics and resins for battery and construction safety applications, Pyrophobic Systems Ltd., revealed that General Motors, a major OEM, has chosen to use their LithiumPrevent 200 material in batteries.
- April 2022; A 60% stake in Fiberline Composites AS, a producer of glass fiber and pultruded carbon materials used in the creation of wind blades, was revealed by Gurit Holdings AG.
Market Opportunities and Challenges
Opportunities- The growing need for lightweight automobiles to increase fuel efficiency and comply with strict pollution standards is driving the market for automotive polymer composites. The requirement for lightweight materials to increase battery range has also increased as more people switch to electric cars (EVs). Additionally, the usage of polymer composites is being encouraged by the increased emphasis on sustainability and recyclable materials. These composites are perfect for replacing conventional metals in the production of vehicles because they provide increased strength, durability, and design flexibility. This industry is growing as a result of improvements in manufacturing technology and growing customer demand for safer, high-performance automobiles.
Challenges- One of the many obstacles facing the automotive polymer composites industry is the high cost of manufacture in comparison to more conventional materials like steel and aluminum, which prevents their widespread use. Longer production periods and intricate manufacturing procedures may also prevent widespread adoption in the automobile sector. Furthermore, because many composite materials are difficult to recycle, their disposal and recycling present environmental challenges. It is challenging to guarantee constant quality and performance across applications due to the absence of standardized testing and design procedures for polymer composites. The market's expansion in cost-sensitive areas is further slowed by the requirement for specialist knowledge and equipment for composite production, which increases operational complexity.
Market Competitive Landscape
The Automotive Polymer Composites market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies are concentrating on several crucial business tactics, including joint ventures, partnerships, and acquisitions to raise their individual market shares. Leading companies in the industry are BASF SE, Covestro AG, DuPont, Gurit Services AG, Hexcel Corporation, Johns Manville, Kolon Industries, Mitsubishi Chemical Corporation, Owens Corning, Plasan Sasa Ltd, Pyrophobic Systems Ltd.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Resin Type, By Vehicle Type |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa, and Europe. |
| Companies Covered | BASF SE, Covestro AG, DuPont, Gurit Services AG, Hexcel Corporation, Johns Manville, Kolon Industries, Mitsubishi Chemical Corporation, Owens Corning, Plasan Sasa Ltd, Pyrophobic Systems Ltd. |
COVID-19 Impact on Global Automotive Polymer Composites Market
The market for automotive polymer composites was greatly damaged by the COVID-19 pandemic because of supply chain interruptions, a fall in vehicle manufacturing, and a decline in customer demand for cars. Manufacturing and distribution of composites were delayed as a result of industrial shutdowns brought on by lockdowns and limitations. Additionally, less money was invested in innovative technology, such as lightweight materials, as a result of the economic downturn. The market did, however, gradually rebound as the industry adjusted to new safety regulations, and the post-pandemic trend toward fuel economy and electric cars rekindled interest in lightweight composites. The automobile industry's emphasis on sustainability and cutting carbon emissions is another factor bolstering this comeback.
Key Target Audience:
- Automotive manufacturers
- Polymer composite producers
- Suppliers of raw materials (resins, fibers)
- Electric vehicle (EV) manufacturers
- Automotive component suppliers
- Research and development institutions
- Government regulatory bodies
- Environmental and sustainability organizations
- Automotive design and engineering firms
- Transportation and logistics companies
Our in-depth analysis of the Automotive Polymer Composites Market includes the following segments:
| By Resin Type: | PolypropylenePolyurethanesNylonPolyvinyl ChlorideAbsPolyethylenesPolycarbonate |
| By Vehicle Type: | Passenger CarsLight Commercial VehiclesTrucksBuses |
Key Topics Covered in the Report:
- Global Automotive Polymer Composites Market Size (FY’2024-FY’2033)
- Overview of Global Automotive Polymer Composites Market
- Segmentation of Global Automotive Polymer Composites Market By Resin Type (Polypropylene, Polyurethanes, Nylon, Polyvinyl Chloride, Abs, Polyethylenes, Polycarbonate, and Other Resins)
- Segmentation of Global Automotive Polymer Composites Market By Vehicle Type (Passenger Cars, Light Commercial Vehicles, and Trucks and Buses)
- Statistical Snap of Global Automotive Polymer Composites Market
- Expansion Analysis of Global Automotive Polymer Composites Market
- Problems and Obstacles in Global Automotive Polymer Composites Market
- Competitive Landscape in the Global Automotive Polymer Composites Market
- Impact of COVID-19 and Demonetization on Global Automotive Polymer Composites Market
- Details on Current Investment in Global Automotive Polymer Composites Market
- Competitive Analysis of Global Automotive Polymer Composites Market
- Prominent Players in the Global Automotive Polymer Composites Market
- SWOT Analysis of Global Automotive Polymer Composites Market
- Global Automotive Polymer Composites Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Automotive Polymer Composites Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Automotive Polymer Composites Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Automotive Polymer Composites Market
7. Global Automotive Polymer Composites Market, By Resin Type (USD Million) 2020-2033
7.1. Global Automotive Polymer Composites Market Size, Share and Forecast, By Resin Type, 2020-2026
7.2. Global Automotive Polymer Composites Market Size, Share and Forecast, By Resin Type, 2027-2033
7.3. Polypropylene
7.4. Polyurethanes
7.5. Nylon
7.6. Polyvinyl Chloride
7.7. Abs
7.8. Polyethylenes
7.9. Polycarbonate
8. Global Automotive Polymer Composites Market, By Vehicle Type (USD Million) 2020-2033
8.1. Global Automotive Polymer Composites Market Size, Share and Forecast, By Vehicle Type, 2020-2026
8.2. Global Automotive Polymer Composites Market Size, Share and Forecast, By Vehicle Type, 2027-2033
8.3. Passenger Cars
8.4. Light Commercial Vehicles
8.5. Trucks
8.6. Buses
9. Global Automotive Polymer Composites Market Forecast, 2020-2033 (USD Million)
9.1. Global Automotive Polymer Composites Market Size and Market Share
10. Global Automotive Polymer Composites Market, By Region, 2020-2033 (USD Million)
10.1. Global Automotive Polymer Composites Market Size and Market Share By Region (2020-2026)
10.2. Global Automotive Polymer Composites Market Size and Market Share By Region (2027-2033)
10.3. Asia-Pacific
10.3.1. Australia
10.3.2. China
10.3.3. India
10.3.4. Japan
10.3.5. South Korea
10.3.6. Rest of Asia-Pacific
10.4. Europe
10.4.1. France
10.4.2. Germany
10.4.3. Italy
10.4.4. Spain
10.4.5. United Kingdom
10.4.6. Rest of Europe
10.5. Middle East and Africa
10.5.1. Kingdom of Saudi Arabia
10.5.2. United Arab Emirates
10.5.3. Qatar
10.5.4. South Africa
10.5.5. Egypt
10.5.6. Morocco
10.5.7. Nigeria
10.5.8. Rest of Middle-East and Africa
10.6. North America
10.6.1. Canada
10.6.2. Mexico
10.6.3. United States
10.7. Latin America
10.7.1. Argentina
10.7.2. Brazil
10.7.3. Rest of Latin America
11. Company Profile
11.1. BASF SE
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. Covestro AG
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. DuPont
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. Gurit Services AG
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. Hexcel Corporation
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Johns Manville
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Johns Manville
11.7.1. Company details
11.7.2. Financial outlook
11.7.3. Product summary
11.7.4. Recent developments
11.8. Kolon Industries
11.8.1. Company details
11.8.2. Financial outlook
11.8.3. Product summary
11.8.4. Recent developments
11.9. Mitsubishi Chemical Corporation
11.9.1. Company details
11.9.2. Financial outlook
11.9.3. Product summary
11.9.4. Recent developments
11.10. Owens Corning
11.10.1. Company details
11.10.2. Financial outlook
11.10.3. Product summary
11.10.4. Recent developments
11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links