The market for automotive fiberglass in China is expected to grow at a CAGR of 13.48% during the forecast period. The Asia-Pacific market will account for about 58% of the global automotive fiberglass market by the end of 2020, with China pioneering the growth of automotive fiberglass in the region.
China is one of the leaders in the global automotive fiberglass market with a significant share of 28% by the end of 2020. China generates the highest revenue for fiberglass in the Asia-Pacific region. The automotive fiberglass market in the country has a high growth potential driven by a huge increase in the demand for lightweight automotive vehicles. The growth of this market is also driven by the technological developments in the manufacturing process of fiberglass.
Fiberglass is the most preferred and economic composite material in the industrial and automotive sectors. The reinforcement fiber materials employed in the automotive industry are usually made of glass fibers. Fiberglass is lightweight, has relatively high tensile strength and is easy to handle and manufacture. Fiberglass is widely used in the automotive industry due to its lightweight and high durability.
The overall industrial development of this region is maneuvering the demand for various composite fiberglass materials used in the industrial, construction and transportation sectors. The trend of growth in the country is expected to continue during the forecast period. Continuous product development by the regional players at an economical rate is increasing the market applications base for automotive fiberglass. Thereby, the regional players with a variety of product portfolio of automotive fiberglass intend to tap the global demand. Glass fiber substitutes such as carbon fiber and aramid pose a serious challenge to the growth of automotive fiberglass market in the country.
The market is segmented based on the production process type and application type. Among the material types, Short fiber thermoplastic (SFT) is likely to remain the leading type of glass composites in coming years, mainly driven by small complex-shaped components in under the hood applications. In application types, the automotive exterior will receive the bulk of the share of automotive glass fiber composites. Automotive component manufacturers are focusing on collaborating with the top fiberglass manufacturers in order to produce durable, heat resistant and lightweight automotive components.
Some of the key players in this market are:
Key Deliverables in the Study
1.1 Research Methodology
1.3 Report Description
2. KEY FINDINGS OF THE STUDY
3. MARKET OVERVIEW
3.2 New Developments in R&D/ Latest Technologies
4. MARKET DYNAMICS
4.4 Porter's Five Forces Analysis
5. MARKET SEGMENTATION
5.1 By Production Type (Growth, Trends and Feasibility of the manufacture process)
5.1.1 Hand Layup
5.1.2 Resin Transfer Molding
5.1.3 Vacuum Infusion Processing
5.1.4 Injection Molding
5.1.5 Compression Molding
5.2 By Application Type (Market crackdown, trends and forecasts)
5.2.1 Structural Assembly
5.2.2 Power Train Components
6. COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions
6.2 Joint Ventures
6.3 New Product Launches
6.4 Most active companies in the past five years
6.5 Market Share Analysis
7. KEY PLAYERS (Overview, Strategies, Developments, Analyst Perspective)
7.1 Braj Binani Group
7.2 Fiber Glass Industries
7.3 Jiangsu Changhai Composite Materials Co., Ltd
7.4 Kemrock Industries and Exports Limited
7.5 Lintex International Company Ltd.
7.6 Molded Fiberglass Companies
7.7 Performance Composite Inc.
7.8 Plasti Comp Inc.
7.9 PPG Industries Inc.
7.10 Smart Material Corp.
7.11 ZCL Composites Inc.