Europe Automotive Composite Materials Market: Current Analysis and Forecast (2018-2024)

Europe Automotive Composite Materials Market: Current Analysis and Forecast (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) - Insights and Forecast, 2018-2024

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Published: Sep-2018

Pages:142

Table:38

Figure:91

Report ID:UMAU18109

Europe’s automotive industry holds 4% of its Gross Domestic Product (GDP). In addition to this, the number of new vehicle registrations increased by 3.8% in 2017 as compared to 2016. The increasing number of vehicles has contaminated Europe’s atmosphere with Green House Gases (GHG), owing to which European Commission laid regulation that mandates a target value of 95g/km of CO2 emission for passenger cars and 147g/km for commercial vehicles to achieve by 2020. To comply with such regulations, automakers in Europe are using composite materials to reduce the overall weight of the vehicle which results in improved the fuel efficiency. Using composite materials in the place of steel or aluminium reduces vehicular weight considerably (35-50%). Besides reduction in weight, features such as excellent aerodynamic design, crashworthiness and toughness of the composite materials are also attracting the European automotive industry. Further, the presence of some of the prominent material suppliers such as BASF, DowAksa, Gurit Holding AG, Mubea Carbo Tech GmbH, SGL Group and Solvay S.A. among others in Europe is also propelling the market growth. However, high cost of the materials, discrepancies in the manufacturing processes and high R&D investment in this industry are acting as the major challenges hampering the market growth.

Insights Presented in the Report:

  • The Europe automotive composites material market is segmented based on different materials such as Polymer Matrix Composite (PMC), Metal Matrix Composite (MMC), Ceramic Matrix Composite (CMC) and Hybrid Composite. Currently, PMCs are most popular composite type among the automakers, as they have high flexibility, high insulation, lower density and lighter weight than other composite materials type. In addition, to get a deep dive analysis of PMC, the segment is further segmented by matrix type this includes, thermosets and thermoplastics. Further, low cost and exceptionally good structural and mechanical properties of hybrid composites are making them ideal alternatives to single fiber composites. Hence hybrid composites are anticipated to be the fastest growing segment during the forecast period.
  • The market is further fragmented across different manufacturing processes. This includes hand lay-up, compression molding, injection molding, and resin transfer molding (RTM). Injection molding process dominated the market in 2017 and is expected to continue its dominance over the forecast period. The injection molding process and is anticipated to reach $743.7 million by 2024. On the other hand, RTM will be the fastest growing manufacturing process because of its growing adoption in auto industry.
  • Based on several application areas in automobiles, Europe automotive composite materials market is segmented into interior, exterior, chassis, powertrain & under the hood and structural. Among different application areas, exterior application held the highest market share and was valued at $641.0 million in 2017. However, because of increase in demand of composite materials for interior body parts, this segment will grow at the fastest rate.
  • Europe automotive composite materials market is further segmented on the basis of different vehicle types, which includes performance cars, passenger cars and other (commercial vehicles and others). Europe’s passenger car market is the biggest segment in the automotive industry of the region, because of largest share in auto industry and increasing penetration of composite materials in passenger car segment.
  • A deep dive analysis of automotive composite materials market across different countries in the regions is also done. Some of the prominent countries pertaining to automotive composite materials market include Germany, France, the U.K, Spain, Russia, Italy and rest of Europe. In Europe, Germany is expected to lead the market because of the presence of several prominent automotive OEMs and composite material suppliers.  

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. These industry players are entering into partnerships with auto OEMs to deploy cost efficient composite materials on the vehicles. Some of the key players are also expanding their businesses by setting up new plants or increasing their expenditure on R&D to develop cheaper manufacturing methods.

Reasons to buy the Report:

  • The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  • The report covers in depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies and recent developments
  • Detailed examination on drivers, restraints, key trends and opportunities prevailing in the industry.
  • Examination of industry attractiveness  with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments
  • Deep dive regional level analysis of the industry

Customization Options:

The Europe Automotive Composites 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                
  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 Crashworthiness Capability          
    5.1.2 Market Restraints              
      5.1.2.1 High Cost of the Raw Materials          
    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 Europe Automotive Composite Materials Market, by Material Type    
    11.1.2 Europe Automotive Composite Market, by Manufacturing Process      
    11.1.3 Europe Automotive Composite Materials market, by Application      
    11.1.4 Europe Automotive Composite Materials Market, by Vehicle Type      
    11.1.5 Europe Automotive Composite Materials Market, by Country      
      11.1.5.1 Germany Automotive Composite Materials Market      
        11.1.5.1.1 Germany Automotive Composite Market, by Material Type  
        11.1.5.1.2 Germany Automotive Composite Market, by Manufacturing Process
        11.1.5.1.3 Germany Automotive Composite Market, by Application  
        11.1.5.1.4 Germany Automotive Composite Market, by Vehicle Type  
      11.1.5.2 France Automotive Composite Materials Market      
        11.1.5.2.1 France Automotive Composite Market, by Material Type  
        11.1.5.2.2 France Automotive Composite Market, by Manufacturing Process
        11.1.5.2.3 France Automotive Composite Market, by Application  
        11.1.5.2.4 France Automotive Composite Market, by Vehicle Type  
      11.1.5.3 UK Automotive Composite Materials Market      
        11.1.5.3.1 UK Automotive Composite Market, by Material Type  
        11.1.5.3.2 UK Automotive Composite Market, by Manufacturing Process  
        11.1.5.3.3 UK Automotive Composite Market, by Application    
        11.1.5.3.4 UK Automotive Composite Market, by Vehicle Type  
      11.1.5.4 Spain Automotive Composite Materials Market      
        11.1.5.4.1 Spain Automotive Composite Market, by Material Type  
        11.1.5.4.2 Spain Automotive Composite Market, by Manufacturing Process
        11.1.5.4.3 Spain Automotive Composite Market, by Application  
        11.1.5.4.4 Spain Automotive Composite Market, by Vehicle Type  
      11.1.5.5 Russia Automotive Composite Materials Market      
        11.1.5.5.1 Russia Automotive Composite Market, by Material Type  
        11.1.5.5.2 Russia Automotive Composite Market, by Manufacturing Process
        11.1.5.5.3 Russia Automotive Composite Market, by Application  
        11.1.5.5.4 Russia Automotive Composite Market, by Vehicle Type  
      11.1.5.6 Italy Automotive Composite Materials Market      
        11.1.5.6.1 Italy Automotive Composite Market, by Material Type  
        11.1.5.6.2 Italy Automotive Composite Market, by Manufacturing Process
        11.1.5.6.3 Italy Automotive Composite Market, by Application  
        11.1.5.6.4 Italy Automotive Composite Market, by Vehicle Type  
      11.1.5.7 Rest of Europe Automotive Composite Materials Market    
        11.1.5.7.1 Rest of Europe Automotive Composite Market, by Material Type
        11.1.5.7.2 Rest of Europe Automotive Composite Market, by Manufacturing Process
        11.1.5.7.3 Rest of Europe Automotive Composite Market, by Application
        11.1.5.7.4 Rest of Europe Automotive Composite Market, by Vehicle Type
12 COMPETITIVE SCENARIO                
  12.1 Europe 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              
                       

Analysing historical market, estimation of the current market and forecasting the future market for European automotive composite materials were the three major steps considered while creating and analysing the overall adoption rate of automotive composite materials in major European 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 European 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 European 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 European 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 European 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 European automotive composite materials market. Factor analysis was conducted using dependent and independent variable such as purchasing power, government initiatives, government regulations in major European 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 European countries. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and rate of adoption of automotive composite materials in major European countries
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players across different technologies and markets as well as market share of each player. Also, the growth strategies adopted by these players to compete in the rapidly growing European Automotive Composite Materials market

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 European 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 European Automotive Composite Materials Market Study

The current & future market trends of the European 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:

  • Analyse the current and forecast market size of European automotive composite materials in terms of value (US$)
  • Analyse the current and forecast market size of different segments and sub-segments of European automotive composite materials market. Segments in the study include material type, manufacturing process, application, and vehicle type
  • Define and describe the technologies and protocols used in automotive composite materials
  • Anticipate potential risk associated with the technology along with customer and competitor analysis, among others
  • Define and analysis of the government regulations for automotive composite materials in major European countries
  • Analyse the current and forecast market size of automotive composite materials in the European regions, in terms of value for countries including Germany, France, UK, Spain, Russia, Italy and Rest of Europe

Define and analyse the competitive landscape of the European automotive composite materials and the growth strategies adopted by the market players to sustain in the ever-growing market

Analysing historical market, estimation of the current market and forecasting the future market for European automotive composite materials were the three major steps considered while creating and analysing the overall adoption rate of automotive composite materials in major European 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 European 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 European 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 European 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 European 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 European automotive composite materials market. Factor analysis was conducted using dependent and independent variable such as purchasing power, government initiatives, government regulations in major European 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 European countries. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value (US$) and rate of adoption of automotive composite materials in major European countries
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players across different technologies and markets as well as market share of each player. Also, the growth strategies adopted by these players to compete in the rapidly growing European Automotive Composite Materials market

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 European 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 European Automotive Composite Materials Market Study

The current & future market trends of the European 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:

  • Analyse the current and forecast market size of European automotive composite materials in terms of value (US$)
  • Analyse the current and forecast market size of different segments and sub-segments of European automotive composite materials market. Segments in the study include material type, manufacturing process, application, and vehicle type
  • Define and describe the technologies and protocols used in automotive composite materials
  • Anticipate potential risk associated with the technology along with customer and competitor analysis, among others
  • Define and analysis of the government regulations for automotive composite materials in major European countries
  • Analyse the current and forecast market size of automotive composite materials in the European regions, in terms of value for countries including Germany, France, UK, Spain, Russia, Italy and Rest of Europe

Define and analyse the competitive landscape of the European automotive composite materials and the growth strategies adopted by the market players to sustain in the ever-growing market


Europe Automotive Composite Materials Market: Current Analysis and Forecast (2018-2024)