logo

Automotive Glass Fiber Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Automotive Glass Fiber Composites Market has been segmented by Intermediate Type (Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), Continuous Fiber Thermoplastic (CFT), and Other Intermediate Types), Application Type (Interior, Exterior, Structural Assembly, Power-train Components, and Other Application Types), and Geography.

Home Industry Reports Automotive Automotive Glass Fiber Composites Market - Growth, Trends, COVID-19 Impact, and ...

Market Snapshot

automotive glass fiber composites market
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Europe
Largest Market: Europe
CAGR: >5.5 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The automotive glass fiber composites market is expected to register a CAGR of over 5.5%, during the forecast period, 2020 - 2025.

  • The major growth drivers associated with this market are the rise in automotive production and the increasing demand for durable and lightweight materials because of stringent government regulations to reduce greenhouse gas emissions
  • The future of the global automotive glass fiber composites market looks bright with opportunities in different automobile applications, such as interiors, exteriors, structural assembly, power-train and engine components, electrical and electronics, and others. The market for glass fiber composites in automobile structures is expected to be the fastest-growing segment, due to the wide variety of applications.
  • Strategic alliances between car manufacturers, glass fiber and resin suppliers are the trends that have a direct impact on the dynamics of the automotive composites industry. Within the intermediates type, short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and continuous fiber thermoplastic (CFT) are the major ones that are used in automotive applications. SFT is expected to be the largest market by value, mainly driven by applications in power-train and engine components applications, which feature small complex-shaped components.

Scope of the Report

The automotive glass fiber composites market has been segmented by intermediate type, application type, and geography.

Intermediate Type
Short Fiber Thermoplastic (SFT)
Long Fiber Thermoplastic (LFT)
Continuous Fiber Thermoplastic (CFT)
Other Intermediate Types
Application Type
Interiors
Exteriors
Structural Assembly
Power-train Components
Other Application Types
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
South America
Brazil
Rest of South America
Middle-East and Africa
United Arab Emirates
South Africa
Rest of Middle-East and Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Adoption of Glass Fiber Composites in Automobiles

Although automobiles have been around for more than a century, the materials they are made of have mostly remained the same. Only since the past few decades that advanced materials, ranging from magnesium alloys to glass fiber composites, have made their way into new-generation cars. Advanced materials, such as glass fiber composites, are essential for boosting the fuel economy of modern cars, maintaining performance and safety. Since it takes lesser energy to accelerate a lighter object than a heavier one, lightweight materials offer great potential for increasing vehicle efficiency. A 10% reduction in the vehicle’s weight can transpire to a 6-8% increase in fuel economy.

Glass fiber composites are materials that have become popular in the past few years. One of the reasons for fiberglass composite's relative success is that it has several advantages when compared to steel. It is corrosion-resistant, has significant chemical resistance, and is lightweight (three times less dense than steel). Fiberglass composite is mainly used in bumpers, hoods, and casings. Another area where this material is used is V-belts and timing belts, where glass strings are impregnated with rubber acting as reinforcement. Abrasion resistance is one other advantage of the fiberglass composite, which is why it is used for producing clutches and brake-pads. Clutch disks are reinforced with woven fiberglass composites to maintain their integrity.

Automotive Glass Fiber Composites Market_Segment

Europe Anticipated to be the Largest and Fastest Growing Market

Europe is touted to be the fastest growing market due to the presence of many car manufacturers, such as BMW, Volkswagen, Groupe PSA, etc., who are adopting glass fiber composites in their cars. Government regulations, such as the greenhouse gas emission target in the European countries are also paving way for OEMs to incorporate light-weight materials to decrease the overall vehicle weight.

Germany is one of the leading automobile manufacturing countries, globally. The country has recovered to a reasonable extent from the economic recession 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. More than 5.1 million automobiles are annually manufactured in Germany. With an increase in the production of passenger vehicles and SUVs, the demand for fiberglass in the reinforcements of automotive components is expected to significantly increase during the forecast period.

Automotive Glass Fiber Composites Market_Geography

Competitive Landscape

The automotive glass fiber composites market is mildly consolidated. Some of the major companies in the glass fiber composites market include Solvay Group, 3B (Braj Binani Group), Owens Corning, Veplas Group, and SAERTEX GmbH & Co.KG. The market is also characterized by the presence of much smaller players especially in the Asia-Pacific, region who deal with aftermarket products.

Automotive Glass Fiber Composites Market- concentration

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Intermediate Type

      1. 5.1.1 Short Fiber Thermoplastic (SFT)

      2. 5.1.2 Long Fiber Thermoplastic (LFT)

      3. 5.1.3 Continuous Fiber Thermoplastic (CFT)

      4. 5.1.4 Other Intermediate Types

    2. 5.2 Application Type

      1. 5.2.1 Interiors

      2. 5.2.2 Exteriors

      3. 5.2.3 Structural Assembly

      4. 5.2.4 Power-train Components

      5. 5.2.5 Other Application Types

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Solvay Group

      2. 6.2.2 3B (Braj Binani Group)

      3. 6.2.3 Owens Corning

      4. 6.2.4 Jiangsu Changhai Composite Materials

      5. 6.2.5 Veplas Group

      6. 6.2.6 SAERTEX GmbH & Co.KG

      7. 6.2.7 ASAHI FIBER GLASS Co., Ltd.

      8. 6.2.8 Nippon Sheet Glass Company, Limited

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Automotive Glass Fiber Composites Market market is studied from 2018 - 2026.

The Automotive Glass Fiber Composites Market is growing at a CAGR of >5.5% over the next 5 years.

Europe is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

3B (Braj Binani Group), Owens Corning, Solvay Group, Veplas Group, SAERTEX GmbH & Co.KG are the major companies operating in Automotive Glass Fiber Composites Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!