The Global Automotive Plastics and Composites Market—Insights and Trends
Under-the-hood (UTH) will be the most dynamic application segment that offers immense metal replacement opportunities for plastic compounds. High performance and specialty polymers will increasingly find growth opportunities in this segment.
Partnership agreements involving compound manufacturers, component manufacturers, and automotive original equipment manufacturers (OEMs) will become more prevalent for specific application segments.
Fragmentation in segments such as blends, acrylonitrile butadiene styrene (ABS), and polypropylene (PP) will take place, with smaller independent compounders gaining significant market share.
The composites industry is here to stay due to the diversity and multitude of more than applications, with aerospace as the leading adopter of innovations and automotive as the biggest user in terms of volume.
Replacing steel and aluminum panels (e.g., roof, door, hood, trunk lid) is the immediate choice for carbon fiber reinforced plastic (CFRP) applications in cars. Chassis and powertrain (cool side parts) are expected to follow as the next big applications.
Optimized and new manufacturing methods will assist in the growth of composites. Transition to advanced fabrication techniques as well as techniques which enable faster production of CFRP/ GFRP (glass fiber reinforced plastic) parts will enable their mass market uptake.
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