Automotive Glass Fiber Composites Market - Growth, Trends and Forecasts (2019-2024)

Germany is one of the leading automobile manufacturing countries globally. The country has recovered to a reasonable extent from the economic recession of 2010/14 that affected the economic condition of the country adversely. Germany is home to some of the leading global automobile manufacturers like Volkswagen AG, Daimler AG, BMW, Ford GmbH and Opel. A total of 6 million automobiles are annually manufactured by German brands. Germany is the undoubted leader of automobile production in Europe. With increase in the production of passenger vehicles and SUVs, the demand for fiberglass in the reinforcements of automotive components will significantly go up in the forecast period.

Fiberglass application in automotive is primarily driven by the demand for lightweight automotive components that in turn is largely driven by regulatory authorities pushing for fuel efficiency. Demand for lightweight, durable materials for automotive components is the major driver propelling the growth of Germany’s automotive fiberglass market. Due to the growing impact of liberalization, the markets are becoming increasingly globalized and strategic partnerships of the international players with the regional players have helped them to grow and expand. However, increase in cost of insulation and raw materials, along with the threat posed by substitutes of fiberglass are also a growing concern for the automotive fiber glass market in Germany.

The market is segmented based on the production process type and application type. In short, automobile component manufacturers are focusing on strategically collaborating with the fiberglass manufacturers in order to produce durable, heat resistant and lightweight automotive components.

Some of the major players in the German automotive glass fiber market are:

•      Braj Binani Group

•       Fiber Glass Industries

•       Jiangsu Changhai Composite Materials Co. Ltd.

•        Kemrock Industries and Exports Limited

Key Deliverables in the Study

• Market analysis for the automotive glass fiber market in Germany with region-specific assessments and competition analysis on global and regional scale.
• Market definition along with the identification of key drivers and restraints.
• Identification of factors instrumental in changing the market scenario and rising prospective opportunities, along with the identification of key companies that can influence this market on a global and regional scale.
• Extensively researched competitive landscape section with profiles of major companies along with their market share.
• Identification and analysis of the macro and micro factors that affect the market on both global and regional scale.
• A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
• Wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
• Insights on the major regions where this industry is blooming and to also identify the regions that are still untapped.