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Strategic Analysis of Global Fibers Market for the Automotive Sector

  • August 2014
  • 121 pages
  • Frost & Sullivan
Report ID: 2312101

Summary

Table of Contents

Lightweighting and Passenger Comfort Will Drive Market Growth

This research service identifies the major industry drivers, restraints, regional trends, and segment trends in the global fibers market for the automotive sector. The research covers 4 regions: North America, Europe, Asia-Pacific, and Rest of World. The study provides an in-depth analysis of the fibers used in composite applications and technical textile applications, with percentage splits across regions and fiber types. Competitive structure and dynamics have been provided at the segment level. Unit shipment, revenue forecasts, and pricing trends have been provided for each segment. The base year is 2013, and the forecast period ends in 2020.

Executive Summary—Key Findings
-Glass fibers will continue to dominate the reinforcement market for composite applications and is expected to represent % of the fibers market volume in 2020.
-With the acquisition of Zoltek Companies, Inc., Toray Industries, Inc. is expected to develop cost friendly carbon fiber projects, enabling it to move ahead of the competition.
-Integrated safety systems in European and North American vehicles will drive the need for better performance and balanced materials for passive safety applications.
-To meet emission requirements, major original equipment manufacturers (OEM) worldwide will be shedding on average kilograms (kg) of vehicle weight by the end of 2015, which will considerably increase opportunities for fibers such as glass, natural, and carbon.
-The lower price-performance index drives polyester fibers, which are expected to capture at least % of the expanding nylon airbag market in developed countries.
-As growth in natural fiber composites gathers momentum, hemp and kenaf fibers will gradually replace flax-based fibers as the key reinforcement in composite applications.
-Companies such as INVISTA, Indorama Ventures Public Company Limited (IVL), Teijin Limited, and Toray are expected to dominate their respective segments for technical textile applications.
-As BMW expands in North America, it will continue to lead the automotive carbon fiber industry. Most OEMs, however, will continue to focus on a multi-material strategy centered around aluminium and high strength steel (HSS).
-Automotive Tier I suppliers are expected to acquire or partner with composite manufacturing companies to develop and optimize process technologies.
-As OEMs’ sustainability strategies evolve, natural fibers such as wool are expected to find some growth, especially in the European market.
-In China, unified national safety standards and their strict enforcement are expected to result in both an increased number of airbags per vehicle and the quality of the airbag itself. Similarly, as India moves in line with global vehicle standards, new car assessment program (NCAP) ratings will be key in ensuring better passenger safety.

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