Growth Opportunities in the Global Automotive Thermoset Resin Composites Market
The future of thermoset resin in the global automotive composites market looks good with opportunities in interior, exterior and others components. Thermoset resin in the global automotive composites market is forecast to grow at a CAGR of 6.6% from 2016 to 2021. The major growthdrivers for this market are increasing automotive production and growing demand for lightweightand durable materials due to stringent government regulations to increase fuel efficiency andreduce greenhouse gas emissions.
In this market, interior, exterior and others are the automotive components. On the basis of itscomprehensive research, Lucintel forecasts that the exterior component is expected to be thelargest market and expected to show the highest growth rate during the forecast period of 2016 to2021.
Within the thermoset resin in the global automotive composites market, sheet moldingCompound/bulk molding compound (SMC/BMC), phenolic molding compound (PMC), and othersare the major intermediate materials to manufacture automotive parts. SMC/BMC is expected toremain the largest market by value and volume, mainly driven by lowering the weight of the vehicleas well as offering parts consolidation, corrosion resistance, and lower capital investment forshorter series production.
For business expansion, Lucintel’s report suggests innovation and new product development toproduce thermoset resin that have higher strength, lower environmental impact, fast curing, andease of processing. The report further suggests the development of partnerships with customersto create win-win situations and development of low-cost solutions for customers.
This unique report from Lucintel will provide you with valuable information, insights, and toolsneeded to identify new growth opportunities and operate your business successfully in this market.
This report will save hundreds of hours of your own personal research time and will significantlybenefit you in expanding your business in this market. In today’s challenging economy, you needevery advantage that you can find.
Scope and Features of This Report:
To make critical business, investment, or strategic decisions, you need timely useful information.
This market report fulfills this core need and is an indispensable reference guide for materialsuppliers, product manufacturers, investors, executives, distributors, and more that operate in thismarket. Some of the features and scope of this report include the following:
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