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) – Insights and Forecast, 2018-2024
Asia Pacific is the largest car manufacturing hub across the globe. In the past few years, the GDP of Asian countries has increased substantially, resulting in the rise of per capita income and buying potential of the consumers. In other words, the improved economy of Asian countries is one of the major reasons for the increase in demand of vehicles in region, which has resulted in high demand for automotive composite materials as well. The worsening air quality in Asia Pacific has concerned the governmental bodies, owing to which stringent emission standards have been passed in some countries and is under consideration in a few others. The growing number of vehicles in the region has deteriorated the air quality, with immense Greenhouse Gases (GHG) emissions. Some of the Asian countries such as China, India and Japan are among the top GHG emitters holding 30%, 7% and 4% of the global GHG emissions. Moreover, Asia Pacific is the largest market for Electric Vehicles (EVS) and the growing demand of composite materials in EVs to offset the weight increased by the batteries is also bolstering the market growth. In addition to this, the region is home to some of the leading composite material suppliers such as include Toray Industries, Teijin Limited, Mitsubishi Rayon Co ltd and Cotech Inc., among others. The presence of such players also propels the automotive composite materials market growth. However, the high cost of the composite materials, longer manufacturing time and high installation cost of the machines are some of the major challenges in the region.
Insights Presented in the Report:
Top Companies in the Composites Market
The major companies that are profiled in the study are BASF SE, DowDupont Inc., Gurit Holding AG, Magna International Inc., Mitsubishi Chemical Holdings Corporation, Owens Corning, SGL Group, Solvay SA, Teijin Limited and Toray Industries Inc.
Reasons to buy the Report:
Customization Options:
The Asia Pacific Automotive Composite Market can be customized to country level or any other market segment. Besides this, UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients.
1. Market Introduction
2. Research Methodology Or Assumption
3. Industry Performance
4. Executive Summary
5. Market Overview
6. Benefits Of Composite Materials
7. Market Insights By Material Type
8. Market Insights By Technology
9. Market Insights By Application
10. Market Insights By Vehicle Types
11. Market Insights By Country
12. Competitive Scenario
13. Company Profiles
Analysing historical market, estimation of the current market and forecasting the future market for Asia-Pacific automotive composite materials were the three major steps considered while creating and analysing the overall adoption rate of automotive composite materials in major Asian countries. Exhaustive secondary research was done to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the Asia-Pacific automotive composite materials market. After all the assumption, market sizing and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of the Asia-Pacific automotive composite materials market. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the technology. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the Asia-Pacific automotive composite materials market through company internal sources such as annual report & financial statements, performance presentations, press releases, inventory records, sales figures etc. and external sources including trade journals, news articles, government publications, International Organization of Motor Vehicle Manufacturers, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications.
Step 2: Market Segmentation:
After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market insights and share for different segments & sub-segments of the Asia-Pacific Automotive Composite Materials market. Major segments included in the report are material type, manufacturing process, application, and vehicle types.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the Asia-Pacific automotive composite materials market. Factor analysis was conducted using dependent and independent variable such as purchasing power, government initiatives, government regulations in major Asian countries. Historical trends of the automotive composite materials and their year-on-year impact on the market size and share in the recent past were analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in market, market share of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers, restraints, trends and opportunities available in the market. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2024 for different segment and sub-segments in major Asian countries. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants
Market Engineering
Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the Asia-Pacific automotive composite materials market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of material type, manufacturing process, application, and vehicle type.
Main objective of the Asia-Pacific Automotive Composite Materials Market Study
The current & future market trends of the Asia-Pacific automotive composite materials market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:
Define and analyse the competitive landscape of the Asia-Pacific automotive composite materials market and the growth strategies adopted by the market players to sustain in the ever-growing market
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November 5, 2024
