According to a new market report published by Lucintel, the future of the ASEAN (Association of Southeast Asian Nations) automotive composites market looks promising with opportunities in the passenger car and light weight truck. The ASEAN automotive composites market is forecast to grow at a CAGR of 6.5% from 2017 to 2022. The major drivers of growth for this market are increasing automotive production and increasing demand for lightweight materials to achieve higher fuel efficiency and reduce greenhouse gas emissions.
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In this market, exterior, interior, and power train systems are the major applications. On the basis of its comprehensive research, Lucintel forecasts that the power train system is expected to be the largest market and under body system is expected to show the highest growth during the forecast period from 2017 to 2021.
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Within the ASEAN automotive composites market, short fiber thermoplastic (SFT), and long fiber thermoplastic (LFT) are the major materials utilized to manufacture automotive parts. SFT is expected to remain the largest market by value and volume, mainly driven by small complex-shaped components for under the hood applications.
By fiber type, glass, carbon, and natural fiber are the major fibers used to manufacture composites parts. The glass fiber market is expected to remain the largest fiber segment, and the carbon fiber market is expected to witness the highest growth over the forecast period.
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By resin type, polyamide (PA) resin is expected to remain the largest market by value and volume consumption. High resistance to abrasion, low friction characteristics, electrical resistance, heat resistance, and good chemical resistance are the properties which drive the PA demand in automotive.
By resin group, thermoplastics and thermoset resin are the two segments in which thermoplastic are the largest segment. The advantages of using thermoplastic is recyclability, ease of processing, and better capability of making parts with complex geometry.
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Vietnam, Thailand, Myanmar, Malaysia, Brunei Darussalam, Indonesia, Cambodia, and Singapore and Lao PDR are the countries included in ASEAN automotive composites market. Among this, Thailand was the major market for the ASEAN automotive composites because of high volume of automotive production.
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The study includes a forecast for the ASEAN automotive composites market by product type, manufacturing process, application, and region as follows:
By application type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Power Train Systems
- Under Body Systems
- Electrical & Electronics
By material type (Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Short Fiber Thermoplastic
- Long Fiber Thermoplastic
- Sheet Molding Compound
- Bulk Molding Compound
- Glass Mat Thermoplastic
- Other Composites
By fiber composite type(Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Glass Fiber Composites
- Carbon Fiber Composites
- Natural Fiber Composites
By resin type(Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Polypropylene Composites
- Polyamide Composites
- Polybutylene Terephthalate Composites
- Polyester Composites
- Vinyl ester Composites
- Others Composites
By resin group(Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
- Thermoplastic Composites
- Thermoset Composites
By country(Value ($M) and Volume (M lbs) shipment analysis for 2011 – 2022):
This 142-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or firstname.lastname@example.org
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This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth in the ASEAN automotive composites market by application (exterior, interior, power train system, under body system, electrical and electronics and others), material (SFT, LFT, SMC, BMC, GMT and others), fiber composites (glass fiber composites, carbon fiber composites, and natural fiber composites), resin type (PP, PA, PBT, polyester, vinyl ester, and other composites), resin group (thermoplastic and thermoset composites) and country (Malaysia, Thailand, Vietnam, Indonesia, and others)?
Q. 2.Which product segments will grow at a faster pace and why?
Q. 3. Which region will grow at the fastest pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and reasons behind them?
Q.7. What are some changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10.What are some of the competitive products in this area and how great of a threat do they pose for loss of market share through product substitution?
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