Germany Automotive Composites Market Outlook 2031:
The Germany automotive composites market size was valued at USD 10.40 Billion in 2022 and is projected to reach USD 36.59 Billion by 2031, expanding at a CAGR of 15% during the forecast period 2023 - 2031. The growth of the market is attributed to rising demand for car owing to increasing purchasing power in the country.
The automotive composites industry is expected to benefit Germany as it strives to reduce its energy use. For decades, the automotive industry has prioritized vehicle weight owing to the direct impact on driving dynamics and fuel consumption. High cost of potential lightweight solutions and consumers' limited willingness to pay for weight reduction in automobiles, has limited the usage of expensive lightweight materials.
The importance of lightweight materials has increased over the time as government state bodies around the world implement tough emission rules and even aim to establish high emissions standards in the coming years. Fibers account for 50% of the volume in a typical automobile while adding only 10% to the weight.
According to the US Department of Energy (DOE), lowering vehicle weight by 10% results in a 6-8% boost in fuel economy. This have encouraged auto makers to use lightweight and fuel-efficient materials, such as carbon fiber and glass fiber composites. The use of glass fiber composites helps to reduce vehicle weight by 25%. By 2021, EU emission laws require a decrease of 95 g/km of CO2, with another 15% reduction by 2025 and a further 30% decrease by 2030.
Manufacturers are seeking to make low-cost items as natural resources are depleting at a high-rate all around the world. Composite parts aid organizations by lowering raw material requirements, reducing energy use, and enhancing price flexibility. It also contributes to long-term sustainability. Stringent regulations for limiting emissions have persuaded manufacturers to lower vehicle's weight and combustion.
Automotive Composites Market Trends, Drivers, Restraints, and Opportunities
- Increased government efforts and assistance is expected to propel the market growth.
- Growing demand for lightweight materials is driving the growth of the market.
- Rising investment in the R&D activities for the development of advanced composite fiber can create enormous opportunities for the market participants.
Scope of Automotive Composites Market Report
The report on the Germany automotive composites market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Germany Automotive Composites-Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023-2031
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Segmentation
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Material Types (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, Glass Fiber, and Others), Production Types (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, Injection Molding, and Compression Molding), and End-users (Passenger Vehicles, and Commercial Vehicles)
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Geographical Zone
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Germany
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and composite Inc, SGL carbon, and Toray Industries Inc
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Germany Automotive Composites Market Segment Insights:
Thermoset polymer segment to account a large market share
Based on material types, the German automotive composites market is segregated into thermoset polymer, thermoplastic polymer, carbon fiber, glass fiber and others. Thermoset composites (TMCs) have been widely used in the production of racing cars and luxury sports cars. The technological advancements are expected to help the material cost to fall by 15% to 30%, and the manufacturing cost to reduce by 15% to 20%.
Thermoset polymers are cured into a solid state and cannot be returned to their uncured state. Thermoset matrix composites are strong and have a high fatigue strength. They are extremely brittle and have a low impact toughness.
TMCs are thermoplastic composites that evolved from structural polymer composites. As this polymer uses a thermoplastic matrix, these materials are not chemically unstable. TMCs soften and can be remolded without degradation. They solidify into the finished shape as they cool.
Hand layup segment is estimated to expand at a high CAGR
On the basis of production types, the Germany automotive composites market is segregated into hand layup, resin transfer molding, vacuum infusion processing, injection molding, and compression molding.
The hand layup design method involves manually laying down individual layers or plies of a cement replacement known as prepreg. This is made up of millions of threads that have been glued together and bundled into tows before being weaved or structured into a single unidirectional ply.
Passenger vehicles segment is anticipated to account a major market share
In terms of End-users, the market is segregated into passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to hold a large market share owing to increasing demand for lightweight and fuel-efficient passenger vehicles, as well as the emerging trend of electric cars. Furthermore, increasing awareness of strict government emission control regulations is driving the market segment.
Segments
The German automotive composites market is segmented on the basis of
Material Types
- Thermoset Polymer
- Thermoplastic Polymer
- Carbon Fiber
- Glass Fiber
- Others
Production Types
- Hand Layup
- Resin Transfer Molding
- Vacuum Infusion Processing
- Injection Molding
- Compression Molding
End-users
- Passenger Vehicles
- Commercial Vehicles
Country
Key Players
Competitive Landscape
The major players in the German automotive composites market include Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and composite Inc, SGL carbon, and Toray Industries Inc.
Companies are engaging in mergers, acquisitions and partnerships to expand their market share.
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