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Japan Automotive Composites market is segmented by Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Molding, Injection Molding, and Compression Molding), Material Type (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, Glass Fiber, and Others), Application (Structural Assembly, Power Train Components, Interior, Exterior, and Others)
The Japan automotive composites market is expected to grow at a CAGR of over 10% during the forecasted period (2020 - 2025)
The Japan automotive composites market report consists of latest technologies and developments in this market, demand by application, process, material and share of major players across this region.
|Resin Transfer Molding|
|Vacuum Infusion Processing|
|Power Train Components|
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The automotive industry has been focusing on vehicle weight for decades as vehicle weight have direct impact on driving dynamics and fuel consumption. Due to the high cost of potential lightweight solutions and consumers’ limited willingness to pay for weight reduction in automotive, the use of costly lightweight materials has so far been limited.
As governments from around the world are implementing stringent emission regulations and even are planning to set even higher emissions standards in the coming years, the importance of lightweight materials will increase. In a typical automobile, the use of fibers is 50% by volume, while adding just 10% to the weight. As per the US Department of Energy (DOE), reducing the weight of vehicles by 10% yields an increase of 6-8% in fuel economy. As a result, companies have started using materials like carbon fiber and glass fiber composites to make vehicles lightweight and fuel-efficient. The usage of glass fiber composites aids in reducing vehicle by 25%.
Apart from carbon fiber, automobile manufacturers have been using glass fiber composites in the manufacturing of numerous automotive components. For instance, 2017 Mini Countryman features an interior panel carrier, uses high flow concentrate long glass fiber-reinforced polypropylene (LGFPP) material (STAMAX resin) from SABIC. The part is ~15% lighter in weight than if made from solid plastic. With the demand for lightweight vehicles increasing rapidly in developing economies, the market for carbon fiber composites is projected to grow at a fast pace during the forecast period.
Japan ranks second in the list of car exports. Japan has exported more than 4.8 million passenger and commercial vehicles in 2019. Stringent rules and regulations in regards with emissions play a huge role in North America and Europe, which has led to increase in usage of composites in the automobiles to reduce pollution. The passenger cars have the highest share in terms of usage of composite materials. The legislative bodies are issuing protocols to include certain percentage of composite material in the automobiles. Increase in fuel efficient and weight reduction is major driver which is forcing OEMs are investing into R&D of composite materials. With corporate average fuel economy requirements increasing and vehicle emission requirements getting strict in Japan and all over the world, this market is expected to grow during the forecasted period.
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With the increase in the shortage of natural resources and costs, manufacturers are looking to produce low-cost products around the world. The Cost-effectiveness of the composite components is expected to propel the market towards growth during the forecasted period. Composite parts not only benefit businesses but also help in reducing raw material requirements, energy consumption, and increasing flexibility in prices. It also plays a role in achieving sustainability. Manufacturers are taking advantage of growing automobile. The higher standards (which are for controlling the emissions) are, in turn, dependent on the weight, combustion, and fuel efficiency of the vehicle and thus are difficult to achieve. Demand for customized cars is on the rise globally, with the younger population showing a keen interest in customizing their cars, as sports and racing cars. In the manufacture of racing cars and luxury sports cars, the thermoset composites have already been widely in use for many years.
Raising consumer confidence, improving quality, durability, and advancement of technology together, these factors are expected to drive the market for automobile composites toward exponential growth in the future.
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The Japan automotive composite market is consolidated. Industry participants are expected to expect intensive competition owing to aggressive strategies, including acquisitions, pricing, merges, and new product development. Significant players in the market are hexcel Corporation, Mitsubishi Chemical Carbon Fiber and composite Inc, SGL carbon and Toray Industries Inc. Companies are trying to invent new composites that can reduce the total weight of the vehicle to much lower proportions. In Jan 2020, Toyota has introduced its all new natural fiber reinforced composite material which is going to be used in Toyota EV.
Not only BMW has adopted CFRP in a mixed-material approach, but its German competitor, Audi, is also using the material to produce the rear wall of the space frame for its A8 luxury sedan. This part provides around 40% of the vehicle’s overall torsional rigidity, making it a suitable candidate for manufacture with CFRP. The part is around 50% lighter in weight than its metallic predecessor.
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Productino Type
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 Material Type
5.2.1 Thermoset Polymer
5.2.2 Thermoplastic Polymer
5.2.3 Carbon Fiber
5.2.4 Glass Fiber
5.3 Application Type
5.3.1 Structural Assembly
5.3.2 Power Train Components
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 3B Fiberglass
6.2.2 Base Group
6.2.5 Cytec Industries Inc
6.2.6 Delphi Auto
6.2.7 General Motors Company
6.2.8 Nippo Sheet Glass Co Ltd
6.2.9 SGL Group
6.2.10 Toray Industries Inc
6.2.11 Teijin Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS