Persistence Market Research

Automotive Composites Market - Global Study on Automotive Composites
- Polymer Matrix Composites to be the Largest Segment by 2022
Persistence Market Research
Global Automotive Composites Market Will

Reach 7,019.7 Mn by 2022: Persistence
Market Research

Persistence Market Research Released New Market Report Global Market Study on
Automotive Composites: Polymer Matrix Composites to be the Largest Segment
by 2022, the global automotive composites market was valued at US$ 3,062.7 Mn in 2014,
which is expected to increase to US$ 7,019.7 Mn by 2022 at a CAGR of 8.8%.
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Increasing urban population due to rising industrialization, particularly in developing

countries such as India and China, is encouraging the establishment of automotive
manufacturing facilities in these regions. Increasing automobile production is expected to
fuel the overall demand for carbon composites in the near future. In 2014, 16.5 million
vehicles were manufactured in the U.S., compared to 15.6 million in 2013. This number is
expected to increase to 17.0 million by the end of 2015. In addition, increasing carbon
emissions due to rising number of vehicles over the last few decades is prompting
governments worldwide to revamp various aspects in order to adhere to environmental
norms and regulations, particularly with emphasis on reduction of carbon emissions from
vehicles. Automakers are focused towards using lightweight materials to manufacture
external and internal parts of vehicles in order to reduce vehicle weight, and in turn improve
fuel efficiency. This is a major factor driving growth of the automotive composites market.
Additionally, consumers are more inclined towards purchasing lightweight and fuel-efficient
vehicles due to increasing fuel prices over the last decade. This is influencing automakers to
invest in R&D initiatives with regard to lightweight materials to manufacture exterior as well
as interior parts of vehicles. Composites with properties such as easy to process, high tensile
strength, lightweight, good corrosion resistance and surface tension are ideal for
manufacturing lightweight and fuel-efficient vehicles.
Region-wise, the report covers North America, Europe, Asia-Pacific, and Rest of the World.
Asia-Pacific is the largest market for automotive composites. Increasing domestic production
of vehicles along with increasing disposable income is driving growth of the automotive
composites market in Asia Pacific. However, one of the major factors contributing to growth

of the automotive composites markets in North America and Europe is stringent CO2
emission norms in these regions.
In this report, the automotive composites market has been segmented on the basis of
composite material (polymer matrix composites, metal composites, and ceramic matrix
composites), manufacturing process (manual, compression, injection and continuous, and
other), composite component (interior components, exterior components, engine and
drivetrain components, and others) by value (US$ Mn), and region (North America, Europe,
Asia-Pacific, and Rest of the World).
The global automotive composites market revenue increased from US$ 3,062.7 Mn in 2012
to US$ 3,593.6 Mn in 2014 at a CAGR of 8.3%. Under regional segment, the Asia Pacific
automotive composites market (the largest market in 2014) revenue increased from US$
1,543.6 Mn in 2012 to US$ 1,825.5 Mn in 2014 at a CAGR of 8.7%.
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The global automotive composites market is highly consolidated, with the top four players
Toray Industries, Toho Co. Ltd., Mitsubishi, and SGL accounting for between 70 and 75%
market share. Other players operating in the global automotive composites market include
Cytec Industries Inc., SAERTEX GmbH & Co. KG, Koninklijke Ten Cate N.V., Johns Manville,
Johnson Controls, Inc., Scott Bader Company Ltd., Teijin Limited, E.I. du Pont de Nemours and
Company, and UFP Technologies, Inc. The automotive composites market has been
segmented on the basis of the following:
By Composite Material
Polymer Matrix Composites
Metal Composites
Ceramic Matrix Composites

By Manufacturing Process
Manual
Compression
Injection and Continuous
Others
By Composite Component
Interior Components
Exterior Components
Engine and Drivetrain Components
Others
By Region
North America
Europe
Asia Pacific
Rest of the World (RoW)
Market History:
Concerns over increasing carbon emissions have led various industries to undertake various initiatives for
environmental conservation. The automotive sector is one among the prominent sources of greenhouse
gas emissions globally. Owing to environment deterioration various governments have formulated
regulations or emission reduction targets. In order to achieve these targets, various automotive
companies are focusing towards improving the fuel efficiency of vehicles. Use of lightweight materials for
vehicle design or automotive weight reduction is the preferred strategy to improve the fuel economy of the
vehicle.
Advanced plastics, alloys,, and composites are some of the lightweight materials extensively utilized for
automotive designs in order to reduce the weight of the vehicle. Composites being durable, light weight,

corrosion resistant, easy to mold and high strength to weight ratio are becoming preferred lightweight
materials for automotive designs.
Some of the major drivers identified in the market are growing preference for fuel-efficient passenger
cars, improving vehicle aesthetics in order to achieve product differentiation, increasing vehicles
production especially in Asia Pacific region, and stringent vehicle emission norms. Minor restraints
identified in the market is relatively high cost of composites.
This is influencing automakers towards investing in the R&D of lightweight materials to manufacture the
exterior and interior parts/components of the vehicle. This reduces the overall weight of the vehicle, in
turn, improving its fuel efficiency. According to SuperLight-Car, Germany, around one-third of total fuel
consumption by passenger cars depends on weight. For instance, weight reduction of the vehicle by 100
kg is expected to save 0.3 to 0.5 liters of fuel for every 100 km drive.
Owing to increasing automotive production, especially in developing Asia-Pacific countries such as India
and China, consumption of automotive composites has witnessed steady growth in the recent past. In
2013, there were 800 vehicles per 1,000 people in the U.S. compared to 600 vehicles per 1,000 people in
Japan, 80 cars per 1,000 people in China, and 25 vehicles per 1,000 people in India.
Asia-Pacific was the largest market for automotive composites in 2014, accounting for 50.8% market
share, followed by Europe and North America, with 22.7% and 15.5% market shares respectively. The
Asia-Pacific market is expected to account for 52.4% by 2022. Rising domestic automotive production,
especially in developing countries such as India and China, is expected to boost the Asia Pacific
automotive composite market. The Europe market is expected to lose market share to reach 21.9% by
2022. However, the automotive composite market in North America is expected to marginally gain market
share to reach 15.9% by 2022.
The automotive composites market is divided on the basis of composite material (polymer matrix
composites, metal composites and ceramic matrix composites), manufacturing process (manual,
compression, injection and continuous and other), composite component (interior components, exterior
components, engine and drivetrain components and others) in major region. The polymer matrix
composites segment held the largest share in 2014 and was valued at US$ 2,728.6 Mn. The segment is
expected to reach US$ 5,290.8 Mn by 2022, at a CAGR of 8.7% for the period 20152022. However, the
metal composites segment is expected to exhibit the highest CAGR of 9.9% during the forecast period to
reach US$ 1,203.4 Mn by 2022.

Table of Content
Chapter 1 Preface 9
1.1 Report Description 9
1.2 Scope and Definition 9
1.2.1 Segments covered in the report 9
1.3 Research Methodology 10
Chapter 2 Market Synopsis 11
Chapter 3 Porters Five Forces Analysis 14
3.1 Bargaining Power of Suppliers 14
3.2 Bargaining Power of Buyers 15
3.3 Threat of New Entrants 15
3.4 Threat of Substitutes 16
3.5 Intensity of Rivalry 16
Chapter 4 Industry Overview 17
4.1 Introduction 17
4.2 Market Drivers 17
4.2.1 Rising demand for lightweight and fuel-efficient vehicles 17
4.2.2 Rising per capita vehicle ownership 18

4.2.3 Increasing domestic automotive production, especially in Asia Pacific 19

4.2.4 Government regulations to reduce carbon emission from vehicles 20
4.2.5 Impact analysis of growth drivers 21
4.3 Market Restraints 21
4.3.1 Rising raw material costs 21
4.3.2 Higher costs of automotive composites 22
4.3.3 Impact analysis of market restraints 22
4.4 Opportunity 23
4.4.1 Rapid industrialization paired with increasing urban population, particularly in Asia
Pacific region 23
Chapter 5 Market size and forecast by Composite Materials 25
5.1 Polymer Matrix Composites 26
5.2 Metal Matrix Composites 27
5.3 Ceramic Matrix Composites 28
Chapter 6 Market size and forecast by Manufacturing Process 30
6.1 Manual Process 31
6.2 Compression Process 32
6.3 Injection and Continuous Process 33

Chapter 7 Market size and forecast by Composite Components 35
7.1 Interior Components 36
7.2 Exterior components 37
7.3 Engine and Drivetrain Components 38
Chapter 8 Market size and forecast by geography 40
8.1 North America 41
8.2 Europe 44
8.3 Asia-Pacific 48
8.4 Rest of the World 52
Chapter 9 Competitive landscape 57
9.1 Global Automotive Composite Market Share by Company 57
9.2 Competitive Positioning of Global Automotive Composite Companies by Region, 2014 58
Chapter 10 Company Profiles 60
10.1 Cytec Industries Inc. 60
10.1.1 Company overview 60
10.1.2 Product and Services 60
10.1.3 Financial performance 61
10.1.4 Recent developments 62

10.2 Toray Industries, Inc. 63
10.2.1 Market overview 63
10.2.2 Product and services 63
10.3 SAERTEX GmbH & Co. KG 67
10.4 Koninklijke Ten Cate N.V. 69
10.5 Johns Manville 71

10.6 Johnson Controls Inc. 73
10.6.2 Products and services 73
10.7 Scott Bader Company Ltd. 76
10.8 Teijin Limited 78
10.9 E. I. du Pont de Nemours and Company 81
10

10.9.1 Company overview 81
10.10 UFP Technologies, Inc. 84
List of Table
TABLE 1 Global automotive composite market snapshot by value, 2014 and 2022 13
TABLE 2 Lightweight vehicle density, by country, 2012 18
TABLE 3 Drivers for automotive composite market: impact analysis 21
TABLE 4 Restraints for automotive composites market: impact analysis 23
TABLE 5 Global automotive composites market size by material, 2012 2014 (US$ Mn) 25
TABLE 6 Global automotive composites market size, by material, 2015 2022 (US$ Mn) 25
TABLE 7 Global automotive composites market size by manufacturing process, 2012 2014
(US$ Mn) 30
TABLE 8 Global automotive composites market size by manufacturing process, 2015 2022
(US$ Mn) 30
TABLE 9 Global automotive composites market size by component type, 2012 2014 (US$
Mn) 35
TABLE 10 Global automotive composites market size by component type, 2015 2022 (US$
Mn) 35
TABLE 11 Global automotive composite market size by region, 2012 2014 (US$ Mn) 40
11

TABLE 12 Global automotive composite market size by region, 2015 2022 (US$ Mn) 40
TABLE 13 North America automotive composite market size by material, 2012 2014 (US$
Mn) 42
TABLE 14 North America automotive composite market size by material, 2015 2022 (US$
Mn) 42
TABLE 15 North America automotive composite market size by manufacturing process, 2012
2014 (US$ Mn) 43
TABLE 16 North America automotive composite market size by manufacturing process, 2015
2022 (US$ Mn) 43
TABLE 17 North America automotive composite market size by component type, 2012
2014 (US$ Mn) 44
TABLE 18 North America automotive composite market size by component type, 2015
2022 (US$ Mn) 44
TABLE 19 Europe automotive composite market size by material, 2012 2014 (US$ Mn) 46
TABLE 20 Europe automotive composite market size by material, 2015 2022 (US$ Mn) 46
TABLE 21 Europe automotive composite market size by manufacturing process, 2012 2014
(US$ Mn) 47
TABLE 22 Europe automotive composite market size by manufacturing process, 2015 2022
(US$ Mn) 47
TABLE 23 Europe automotive composite market size by component type, 2012 2014 (US$
Mn) 48
TABLE 24 Europe automotive composite market size by component type, 2015 2022 (US$
Mn) 48
TABLE 25 Asia Pacific automotive composite market size by material, 2012 2014 (US$ Mn)
50
TABLE 26 Asia Pacific automotive composite market size by material, 2015 2022 (US$ Mn)
50
TABLE 27 Asia Pacific automotive composite market size by manufacturing process, 2012
2014 (US$ Mn) 51
TABLE 28 Asia Pacific automotive composite market size by manufacturing process, 2015
2022 (US$ Mn) 51
TABLE 29 Asia Pacific automotive composite market size by component type, 2012 2014
(US$ Mn) 52
TABLE 30 The Asia Pacific automotive composite market size by component type, 2015
2022 (US$ Mn) 52
12

TABLE 31 RoW automotive composite market size by material, 2012 2014 (US$ Mn) 53
TABLE 32 RoW automotive composite market size by material, 2015 2022 (US$ Mn) 54
TABLE 33 RoW automotive composite market size by manufacturing process, 2012 2014
(US$ Mn) 54
TABLE 34 RoW automotive composite market size by manufacturing process, 2015 2022
(US$ Mn) 55
TABLE 35 RoW automotive composite market size by component type, 2012 2014 (US$ Mn)
55
TABLE 36 RoW automotive composite market size by component type, 2015 2022 (US$ Mn)
56
TABLE 37 Major players operating in the global automotive composite market, 2014 59
TABLE 38 Major products and services of Cytec Industries Inc. 60
TABLE 39 Major products and brands of Toray Industries 63
TABLE 40 Major products and services of SAERTEX 67
TABLE 41 Major products and services of TenCate 69
TABLE 42 Major products and services of Johns Manville 71
TABLE 43 Major offerings of the company includes 73
TABLE 44 Major products and services of Scott Bader 76
TABLE 45 Major products and services of Teijin Limited 78
TABLE 46 Others products and services of DuPont 81
TABLE 47 Major products and services of UFP 84
List of Figure
FIG. 1 Global automotive composites market, 2012 2022 (US$ Mn) 12
FIG. 2 Automotive composite market: Porters five forces analysis 14
FIG. 3 Lightweight vehicle production, by country, 2013 (million units) 19
FIG. 4 Global premium car production, by country, 2013 (% of total production) 20
FIG. 5 Urban population growth in Asia Pacific, 2000 2050 (Bn) 24
FIG. 6 Polymer matrix composites segment market size, 2012 2022 (US$ Mn) 27
FIG. 7 Metal matrix composites segment market size, 2012 2022 (US$ Mn) 28
FIG. 8 Ceramic matrix composites segment market size, 2012 2022 (US$ Mn) 29
FIG. 9 Manual process segment market size, 2012 2022 (US$ Mn) 32
FIG. 10 Compression process segment market size, 2012 2022 (US$ Mn) 33
FIG. 11 Injection and continuous process segment market size, 2012 2022 (US$ Mn) 34
13

FIG. 12 Interior components segment, market size, 2012 2022 (US$ Mn) 37
FIG. 13 Exterior Components segment, market size, 2012 2022 (US$ Mn) 38
FIG. 14 Engine and drivetrain components segment market size, 2012 2022 (US$ Mn) 39
FIG. 15 Europe electric vehicle sales, by country, 20112013 45
FIG. 16 Global automotive composite market share by company, 2014 57
FIG. 17 Competitive positioning of global automotive composite companies, 2014 58
FIG. 18 Net sales and net earnings of Cytec Industries Inc., 2012 2014 (US$ Mn) 61
FIG. 19 Net sales and net income of Toray Industries, Inc., 2012 2014 (US$ Mn) 66
FIG. 20 Revenue and net result of Royal TenCate, 2012 2014 (US$ Mn) 70
FIG. 21 Net sales and net income of Johnson Controls, Inc., 2012 2014 (US$ Mn) 74
FIG. 22 Turnover and profit of Scott Bader Company Ltd., 2012 2014 (US$ Mn) 77
FIG. 23 Net sales and net income of Teijin Limited, 2012 2014 (US$ Mn) 79
FIG. 24 Net sales and net income of DuPont, 2012 2014 (US$ Bn) 82
FIG. 25 Net sales and net income of UFP Technologies, Inc., 2012 2014 (US$ Mn) 85
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Automotive Composites Market - Global Study on Automotive Composites

- Polymer Matrix Composites to be the Largest Segment by 2022