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Global automotive fiberglass composites will grow by 9.5%

The automobile industry has grown rapidly. With the rapid increase in automobile sales in China, India, Japan and Southeast Asia, the automotive industry has been actively promoted. With the continuous innovation of technology, there has also been a major breakthrough in the raw materials of automobile manufacturing. In general GM, non-metallic proportions account for one-third.

    Non-metallic materials for vehicles mainly include glass fiber composite materials, fiber reinforced composite materials, rubber, fabric leather, adhesive sealant, safety glass, paper wood and other materials. Fiberglass composites are commonly used in automotive interiors such as automotive ceilings, fenders, and bumpers. The rapid development of the automotive industry will be an important factor in driving the demand for automotive composite materials. According to a recent report, the market value of automotive composites is expected to reach $53 billion by 2022, thanks to increased demand for drive trains and interior and exterior applications.

    In the regional sales in 2015, electrical components and interior and exterior applications accounted for more than 70%. Other important data released in the report include: The global market for automotive fiberglass composites in 2015 will be 8.69 million tons, and the compound annual growth rate is expected to reach 9.5% in the next 6-7 years. North American demand is estimated at approximately 882,500 tons, with polypropylene and polyethylene accounting for more than 44% of 2015 regional sales. Increasing vehicle production in the United States and Mexico, coupled with growth in passenger vehicle exports, will drive regional sales growth during this forecast period.

    Polypropylene is the largest product segment, accounting for 25.6% of total global sales in 2015. Electrical components are the largest application area with sales of approximately $772.7 million in 2015. Fiberglass composites are increasingly used in electrical enclosures, sensors, lighting systems, switches and sockets, and displays. Glass headlamps are widely replaced by polycarbonate lamps, and OEMs use polycarbonate as an alternative, thanks to their crush resistance and heat resistance.

    According to Grand View Research, the global market is moderately concentrated, with the top four companies accounting for more than 69% of the market in 2015. Important industry players include Akzo Nobel, BASF, Saudi Basics, Bayer MaterialScience, Quadrant, Lear, Borealis, Teijin, Johnson Controls and Evonik Industries.

    In summary, as a substitute for metals and alloys, fiberglass composites are increasingly being used in automotive parts to reduce overall vehicle weight, improve part performance and chemical resistance. The market value of automotive plastics will be further expanded.


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