Automotive Glass Fiber Composites Market Size, Trends 2031
Automotive Glass Fiber Composites Market Size, Trends 2031
Segments - Automotive Glass Fiber Composites Market by Intermediate Types (Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), Continuous Fiber Thermoplastic (CFT), and Others), Applications (Interior, Exterior, Structural Assembly, Power-train Components, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
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| Report ID :AL-1403
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Report Description
Automotive Glass Fiber Composites Market Outlook 2031
The global automotive glass fiber composites market size was USD 8.44 Billion in 2022 and is expected to reach USD 13.67 Billion by 2031 register at a CAGR of over 5.5% during the forecast period, 2023–2031. The growth of the market is attributed to the rising automotive production and increasing demand for durable and lightweight materials.
The automotive glass fiber composites market is expected to create various opportunities in many different automobile applications, such as interiors, exteriors, structural assembly, power-train and engine components, and electrical and electronics. Strategic associations between car manufacturers, glass fibers, and resin suppliers are directing impact the dynamics of the automotive glass giber composites market.
Automotive Glass Fiber Composites Market Drivers, Restraints, Trends, and Opportunities
- The stringent government regulations to reduce the carbon emissions is expected to stimulate the market growth.
- Growing awareness about its characteristics such as lightweight and high safety associated with the composites is driving the market growth.
- Lockdowns imposed in various countries due to the pandemic have negatively impacted the automobile manufacturers, restraining the automotive composites market growth. However, relaxation in stringent regulation is expected to help the market recover soon.
- Rapid industrialization in low- and middle-income countries is speculated to positively influence the market growth.
Scope of The Automotive Glass Fiber Composites Market Report
The report on the global 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 The integration of Automotive Composites, particularly glass fiber composites, into vehicle manufacturing is a transformative trend in the industry. These composites are known for their exceptional strength-to-weight ratio, making them ideal for reducing the overall weight of vehicles without compromising on durability or safety. This reduction in weight is crucial for improving fuel efficiency and reducing emissions, aligning with global environmental goals. As automotive manufacturers continue to innovate, the demand for advanced composites is expected to rise, further driving the market growth. |
Details |
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Report Title |
Automotive Glass Fiber Composites Market - Global 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 Others), Applications (Interior, Exterior, Structural Assembly, Power-train Components, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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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 |
3B (Braj Binani Group), Owens Corning, Solvay Group, Veplas Group, SAERTEX GmbH & Co.K G |
Automotive Glass Fiber Composites Market Segment Insights
Long fiber thermoplastic (LFT) segment to account a significant market share
Based on intermediate types, the market is segregated into short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), continuous fiber thermoplastic (CFT), and others. The long fiber thermoplastic (LFT) segment is projected to account for a significant market share during the forecast period. Increasing adoption of LFT in the glass fiber composites market for various applications is spurring the segment growth.
Exterior segment to account a considerable market share
On the basis of applications, the market is classified as interior, exterior, structural assembly, power-train components, and others. The exterior segment is projected to account a considerable market share during the forecast period. Exterior applications include bumper beam, fender, front-end module, door panels, and hoods. This is due to the durable nature of glass fibers that ensure long lifecycle and lowers the maintenance cost.
Europe to hold a major market share
In terms of regions, the market is divided into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe is projected to hold a major market share during the forecast period. The presence of various car manufacturers, such as BMW, Volkswagen, and Groupe PSA is driving the market growth in the region.
Moreover, stringent government regulations regarding greenhouse gas emissions in the Europe-based countries are paving way for OEMs to incorporate light-weight materials to reduce the vehicle weight. Germany is one of the leading automobile manufacturing countries in the world. The country has recovered to a reasonable extent from the economic recession that affected the economic condition of the country adversely.
Germany is home to some of the leading global automobile manufacturers, such as Volkswagen AG, Daimler AG, BMW, Ford GmbH, and Opel. More than 5.1 million automobiles are annually manufactured in Germany. Increasing production of passenger vehicles and SUVs has resulted in the demand for fiberglass for the automotive components.
Segments
The global automotive glass fiber composites market has been segmented on the basis of
Type
- Short Fiber Thermoplastic (SFT)
- Long Fiber Thermoplastic (LFT)
- Continuous Fiber Thermoplastic (CFT)
- Others
Applications
- Interior
- Exterior
- Structural Assembly
- Power-train Components
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players
- 3B (Braj Binani Group)
- Owens Corning
- Solvay Group
- Veplas Group
- SAERTEX GmbH & Co.K G
Competitive Landscape
Some of the major companies in the glass fiber composites market include Solvay Group, 3B (Braj Binani Group), Owens Corning, Veplas Group, and SAERTEX GmbH & Co.KG. The market is also characterized by the presence of much smaller players especially in the Asia Pacific, region who deal with aftermarket products.
Frequently Asked Questions
Challenges include the negative impact of economic downturns and pandemics on automobile production, and the need for ongoing innovation to meet evolving regulatory and performance requirements.
Key players include 3B (Braj Binani Group), Owens Corning, Solvay Group, Veplas Group, and SAERTEX GmbH & Co.KG.
Major trends include the use of lightweight materials to meet emission standards, strategic partnerships between car manufacturers and suppliers, and increased adoption of glass fiber composites in exterior automotive applications.
Lockdowns imposed during the pandemic negatively impacted automobile manufacturers, restraining market growth, but relaxation in regulations is expected to help the market recover.
Europe is projected to hold a major market share, driven by the presence of leading car manufacturers and stringent regulations on greenhouse gas emissions.
The long fiber thermoplastic (LFT) segment is projected to account for a significant market share due to its increasing adoption in various applications.
Automotive glass fiber composites are used in interiors, exteriors, structural assembly, power-train and engine components, and electrical and electronics.
Key drivers include rising automotive production, increasing demand for durable and lightweight materials, and stringent government regulations to reduce carbon emissions.
The market is anticipated to register a CAGR of over 5.5% during the forecast period of 2023 to 2031.
The global automotive glass fiber composites market is expected to reach USD 13.67 billion by 2031.
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 Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Automotive Glass Fiber Composites Market Size and Volume Forecast by Types
5.3.1. Short Fiber Thermoplastic (SFT)
5.3.2. Long Fiber Thermoplastic (LFT)
5.3.3. Continuous Fiber Thermoplastic (CFT)
5.3.4. Others
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Automotive Glass Fiber Composites Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Automotive Glass Fiber Composites Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
7. North 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
7.2. North America Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Automotive Glass Fiber Composites Market Size and Volume Forecast by Types
7.4.1. Short Fiber Thermoplastic (SFT)
7.4.2. Long Fiber Thermoplastic (LFT)
7.4.3. Continuous Fiber Thermoplastic (CFT)
7.4.4. Others
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
8. Latin America 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. Latin America Average Pricing Analysis
8.2. Latin America Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Automotive Glass Fiber Composites Market Size and Volume Forecast by Types
8.4.1. Short Fiber Thermoplastic (SFT)
8.4.2. Long Fiber Thermoplastic (LFT)
8.4.3. Continuous Fiber Thermoplastic (CFT)
8.4.4. Others
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
9. Europe 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. Europe Average Pricing Analysis
9.2. Europe Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Automotive Glass Fiber Composites Market Size and Volume Forecast by Types
9.4.1. Short Fiber Thermoplastic (SFT)
9.4.2. Long Fiber Thermoplastic (LFT)
9.4.3. Continuous Fiber Thermoplastic (CFT)
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
10. Asia Pacific 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. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Automotive Glass Fiber Composites Market Size and Volume Forecast by Types
10.4.1. Short Fiber Thermoplastic (SFT)
10.4.2. Long Fiber Thermoplastic (LFT)
10.4.3. Continuous Fiber Thermoplastic (CFT)
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
11. Middle East & Africa Automotive Glass Fiber Composites Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Automotive Glass Fiber Composites Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Automotive Glass Fiber Composites Market Size and Volume Forecast by Types
11.4.1. Short Fiber Thermoplastic (SFT)
11.4.2. Long Fiber Thermoplastic (LFT)
11.4.3. Continuous Fiber Thermoplastic (CFT)
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Automotive Glass Fiber Composites Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Automotive Glass Fiber Composites Market: Market Share Analysis
12.2. Automotive Glass Fiber Composites Distributors and Customers
12.3. Automotive Glass Fiber Composites Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. 3B (Braj Binani Group)
12.4.2. Owens Corning
12.4.3. Solvay Group
12.4.4. Veplas Group
12.4.5. SAERTEX GmbH & Co.K G
Methodology
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