The Japan Automotive Composites Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 10% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing demand of composite material in the Japan automotive sector.
A composite material is the material which is made from the two or more integral materials. In the automotive sector the composite materials are used because they have various properties such as light in weight, strong, less expensive, and more durable compare to the common materials. Composite materials are used in various parts of the automotive such body and other parts.
The Covid-19 pandemic affected the demand and supply of Japan automotive composite market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced composite materials manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
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Increasing demand of fuel efficient and light weight vehicles is estimated to drive the Japan automotive composite market.
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The reinforce glass and thermoplastic composite materials have drawn the attention of carmakers because of the lighter, better, and tensile components which is projected to drive the market during forecast period.
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Rising demand of ecofriendly and lightweight electrical vehicles all over the world is expected to drive the Japan automotive composite market.
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High cost of the composite material is expected to hinder the market growth.
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Low recyclability of composite material is hampering the Japan automotive composite market.
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Various giant industries such as BMW and Nissan are trying to replace their existing parts with composites materials. This is fueling the market during the forecast period.
Scope of the Report
The report on the Japan automotive composite 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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Automobile Composite Market - Japan 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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Production Types (Hand Layup, Resin Transfer Molding, Vacuum Infusion Molding, Injection Molding, and Compression Molding), Material Types (Thermoset Polymer, Thermoplastic Polymer, Carbon Fiber, Glass Fiber, and Others), Applications (Structural Assembly, Power Train Components, Interior, Exterior, and Others)
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Regional Scope
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Japan
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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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Cytec Industries, Inc.; Nippon Sheet Glass Co. Ltd; 3B-Fiberglass; SGL Carbon; Toray Industries, Inc.
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Market Segment Insights
The injection molding segment is expected to grow at a rapid pace
Based on the production types, the Japan automotive composite market is divided into hand layup, resin transfer molding, vacuum infusion molding, injection molding, and compression molding. The injection molding segment is expected to grow at a rapid pace during the forecast period owing to easy and flexible process for making automotive parts from the composite materials. In this process small granules of different composite materials are heated and injected into the mold cavity.
The thermoset polymer segment is estimate to gain a large revenue share
On the basis of material types, the market is segmented into thermoset polymer, thermoplastic polymer, carbon fiber, glass fiber, and others. The thermoset polymer segment is estimate to gain a large revenue share during the forecast period owing to manufacturers of the racing cars and luxury sports cars use the thermoset polymer for making the parts. These composite parts are light in weight and increases the fuel efficiency of the cars. However, the glass fiber segment is anticipated to account for a major market share during the forecast period owing to its properties such as resistance to heat, light weight, flexibility, durability, and high strength. On the other hand, the thermoplastic polymers segment is projected to expand at a considerable CAGR during the forecast period because the 70% parts of automotive are made from thermoplastic polymers that contain the propylene. The thermoplastic polymers are used in an underbody coating, dashboards, door panel seating and arm rests.
The exterior segment is anticipated to register significant market share
Based on applications, the Japan automotive composite market is divided into structural assembly, power train components, interior, exterior, and others. The exterior segment is anticipated to register significant market share during the forecast period because of the major components of the car body has been made from the composite materials such as bumper beam, door panels, front end module, and hood.
Segments
The Japan automotive composites market has been segmented on the basis of
Production types
- Hand Layup
- Resin Transfer Molding
- Vacuum Infusion Molding
- Injection Molding
- Compression Molding
Material Types
- Thermoset Polymer
- Thermoplastic Polymer
- Carbon Fiber
- Glass Fiber
- Others
Applications
- Structural Assembly
- Power Train Components
- Interior
- Exterior
- Others
Key Players
- Cytec Industries, Inc.
- Nippon Sheet Glass Co. Ltd
- 3B-Fiberglass
- SGL Carbon
- Toray Industries, Inc.
Competitive Landscape
Some of the key market players competing in the Japan automotive composite market are Cytec Industries, Inc.; Nippon Sheet Glass Co. Ltd; 3B-Fiberglass; SGL Carbon; Toray Industries, Inc.
These key players are constantly implementing several marketing strategies such as merger & acquisitions, capital investments, partnerships, and new product development to sustain industry position in the market.
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