Canada Automotive Glass Fiber Composites Market Size 2031
Canada Automotive Glass Fiber Composites Market Size 2031
Segments - Canada Automotive Glass Fiber Composites Market by Intermediate Types (Short Fiber Thermoplastic [SFT], Long Fiber Thermoplastic [LFT], Continuous Fiber Thermoplastic [CFT], and Other Intermediate Types) and Application Types (Interior, Exterior, Structural Assembly, Power-train Components, and Other) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :AL-1519
| 4.6 Rating
| 54 Reviews
| 164 Pages
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Report Description
The Canada automotive glass fiber composites market size was USD XX Bn in 2022 and is likely to reach USD XX Bn by 2031, expanding at a CAGR of 3% during 2023–2031. The growth of the market is attributed to the massive increase in the production of automobiles.
Glass fiber composites (also known as glass fiber composites) are made up of many extremely thin glass fibers. The need for lightweight vehicle components, which is mostly driven by regulatory agencies pushing for fuel economy, is driving the use of fiberglass in the automobile industry.
The automotive glass fiber composites market has a promising future, with potential in interiors, exteriors, structural assembly, power-train and engine components, electrical and electronics, and other applications. Due to the vast number of applications, the market for glass fiber composites in vehicle constructions is projected to be the fastest-growing category. However, there is a slowdown in automobile sales and production, which is due to trade tensions between two major economies in the world, China and the United States, as well as the ongoing Pandemic COVID-19, which has forced the world economy to lockdown for nearly three months, with growth expected to resume in the second half of 2021, as governments provide stimulus to both the demand and supply sides of the economy to resuscitate the economy.
Advanced materials, such as glass fiber composites, are critical for improving the fuel efficiency, performance, and safety of modern automobiles. Lightweight materials have a lot of potential for improving vehicle economy since it requires less energy to accelerate a lighter item than a heavy one. A 10% reduction in vehicle weight can result in a 6-8 per cent improvement in fuel economy. Glass fiber composites have grown increasingly popular in recent years. When compared to steel, one of the reasons for fiberglass composite's greater success is that it offers numerous benefits. It resists corrosion, has a high chemical resistance, and is lightweight (three times less dense than steel). Bumpers, hoods, and casings are all made of fiberglass composite. V-belts and timing belts are another application for this material, in which glass threads are impregnated with rubber to function as reinforcement. Another feature of the fiberglass composite is its resistance to abrasion, which is why it is used to make clutches and brake pads. To retain their integrity, clutch discs are strengthened with woven fiberglass composites.
Canada Automotive Glass Fiber Composites Market Trends, Drivers, Restraints, and Opportunities
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Rising need for durable and lightweight materials as a result of rigorous government requirements to decrease greenhouse gas emissions is expected to push market growth during the forecast period.
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R&D investment and technological advancement are anticipated to create significant opportunities for the market players.
Scope of Canada Automotive Glass Fiber Composites Market Report
The report on the Canada automotive glass fiber 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 |
Details |
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Report Title |
Canada Automotive Glass Fiber Composites Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Intermediate Types (Short Fiber Thermoplastic [SFT], Long Fiber Thermoplastic [LFT], Continuous Fiber Thermoplastic [CFT], and Other Intermediate Types) and Application Types (Interior, Exterior, Structural Assembly, Power-train Components, and Other) |
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Report Coverage |
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 |
Solvay Group; 3B (Braj Binani Group); Owens Corning; Veplas Group; and SAERTEX GmbH & Co.KG. |
Canada Automotive Glass Fiber Composites Market Segment Insights
Short fiber thermoplastic [SFT] segment is projected to account for a major market share
On the basis of intermediate types, the Canada automotive glass fiber composites market is divided into short fiber thermoplastic [SFT], long fiber thermoplastic [LFT], continuous fiber thermoplastic [CFT], and other intermediate types. The short fiber thermoplastic [SFT] segment is expected to account for a key share of the market in the coming years) owing to applications in power-train and engine components that need tiny complex-shaped components.
Power-train components segment is expected to grow at a significant pace
In terms of application types, the Canada automotive glass fiber composites market is bifurcated into interior, exterior, structural assembly, power-train components, and others. The power-train components segment is expected to account for a key share of the market during the forecast period owing to applications in power-train and engine components that need tiny complex-shaped components.
Segments
The Canada automotive glass fiber composites market has been segmented on the basis of
Intermediate Types
- Short Fiber Thermoplastic [SFT]
- Long Fiber Thermoplastic [LFT]
- Continuous Fiber Thermoplastic [CFT]
- Other Intermediate Types
Application Types
- Interior
- Exterior
- Structural Assembly
- Power-train Components
- Other
Key Players
- Solvay Group
- 3B (Braj Binani Group)
- Owens Corning
- Veplas Group
- SAERTEX GmbH & Co.KG
Competitive Landscape
Key players competing in the Canada automotive glass fiber composites market include Solvay Group; 3B (Braj Binani Group); Owens Corning; Veplas Group; and SAERTEX GmbH & Co.KG. Some of these players are investing heavily in several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Automotive Glass Fiber Composites Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Automotive Glass Fiber Composites Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Automotive Glass Fiber Composites Market - Supply Chain
4.5. Global Automotive Glass Fiber Composites Market Forecast
4.5.1. Automotive Glass Fiber Composites Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Automotive Glass Fiber Composites Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Automotive Glass Fiber Composites Market Absolute $ Opportunity
5. Global Automotive Glass Fiber Composites Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Automotive Glass Fiber Composites Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
6. North America Automotive Glass Fiber Composites Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
7. Latin America Automotive Glass Fiber Composites Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
8. Europe Automotive Glass Fiber Composites Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
9. Asia Pacific Automotive Glass Fiber Composites Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
10. Middle East & Africa Automotive Glass Fiber Composites Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Automotive Glass Fiber Composites Market: Market Share Analysis
11.2. Automotive Glass Fiber Composites Distributors and Customers
11.3. Automotive Glass Fiber Composites Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
11.4.1. Solvay Group
11.4.2. 3B (Braj Binani Group)
11.4.3. Owens Corning
11.4.4. Veplas Group
11.4.5. SAERTEX GmbH & Co.KG
Methodology
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