The global secure digital memory cards market report by PMR offers an extensive study conducted for an eight-year forecast to evaluate the market condition. The forecast period considered for the report is 2014-2022, whereas 2014 is considered as the base year for all market value calculations. This report demonstrates key market dynamics, most influential trends, and biggest opportunities that are likely to orient and benefit manufacturers in the next few years.
In the key drivers section, the report analyzes key factors that will favor the global market growth and in the key restraints section, it examines important factors that may hamper the market growth in the near future. Moreover, this report includes key market trends and beneficial opportunities as a value added feature. In segmentation analysis, the report features key segments of the market on the basis of composite material, composite component, and manufacturing process.
The global automotive composites market is segmented on the basis of composite material, manufacturing process, and composite component by value (US$ Mn) and region (North America, Europe, Asia-Pacific and rest of the world) for the period 2012–2022. In addition, current automotive composites market dynamics, including market drivers, restraints, opportunities, and recent developments have been covered in the report. The competitive landscape section of the automotive composites market report includes global automotive composites market share, by the company, 2014. The report also contains competitive positioning of global automotive composite companies, depending on number of countries of operation and annual revenue, 2014.
To deduce the global automotive composites market size, the report considers various aspects based on secondary research. Furthermore, key data points such as region-wise split and market split by composite material, component, and manufacturing process; and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the total revenue generated and expected revenue contribution in the Global automotive composites market.
The report begins with sizing the market in terms of value and volume for the base year, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, gathered data is triangulated via different analysis based on supply side and demand side drivers and other key dynamics of the global automotive composites market. To develop the market forecast, Persistence Market Research has also conducted a factor analysis to understand the impact of various forces/factors on the target market. The report provides forecasts not only in terms of CAGR but also presents a detailed analysis based on key parameters such as Year-on-Year (Y-o-Y) growth to understand market predictability and to identify the right opportunities.
Another key feature of this report is an analysis of the Global automotive composites market and the corresponding revenue forecast in terms of absolute dollar opportunity, usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales perspective in the Global automotive composites market. Further, to understand key segments in terms of their growth and overall Global automotive composites market performance, Persistence Market Research has developed a market attractiveness index to help providers identify existing market opportunities in the Global automotive composites market.
Increasing consciousness about minimizing carbon footprint and conserving environment has been alarming the automotive sector to take efforts toward fuel efficiency. Lightweight vehicles are currently trending in the market and automotive composites play a pivotal role in manufacturing of these light, fuel-efficient vehicles. The global automotive composites market is predicted to see promising growth in the near future. The market will witness a healthy CAGR of 8.8% over the forecast period 2014-2022. Whereas, the revenues are estimated to climb up from US$ 3.06 Bn in 2014 to US$ 7.01 Bn by the end of 2022.
Key Market Dynamics
Urbanization and industrialization are at their peak worldwide, especially in developing countries where the automotive sector is also exploding. However, growing awareness about creating fuel-efficient vehicle designs and reducing the carbon footprint is compelling automotive manufacturers to initiate the production of light and fuel-efficient vehicles, lately. This has been a major driving factor bolstering the market for automotive composites. In 2015, over 17 million vehicles were manufactured in the U.S., up from 16.5 million in 2014 and 15.6 million in 2013. These figures sufficiently signify the number of vehicles on road and the level of carbon emissions. Several governments are increasingly proposing environmental regulations and norms in order to support fuel efficiency and contribute to environmental conservation. This will continue to fuel the market for automotive composites in the next few years. Automakers are inclined toward using composite materials in exterior as well as interior parts and accessories of vehicles nowadays, which is foreseen to be a key factor driving the market growth over the forecast period. Consequent to expensive fuel prices, consumers are also increasingly seeking lightweight vehicles that have maximum fuel efficiency, which is an important consumer behavior pattern that will positively impact the market. In addition, a number of manufacturers are increasing investment in R&D of lightweight vehicles at affordable prices. One of the topmost drivers to the market growth is the characters of composite materials i.e. low weight, high tensile strength, easy-to-process nature, high resistance to corrosion, and favorable surface tension. Automakers as well as consumers are equally concerned about vehicle aesthetics and vehicle economy. While manufacturers perceive it as a means to gain a competitive advantage, consumers turn to it as a convenient and fuel-efficient option. Both the factors will push the market in the next few years.
Growing popularity of small, light, fuel-efficient passenger cars highlights an important trend that will strongly support the market growth. Expensive costs of automotive composites is however identified as a low-impact restraint to the market growth.
The global automotive composites market is classified on the basis of composite material, composite component, and manufacturing process. The composite material segment includes polymer matrix composites, ceramic matrix composites, and metal composites. Composite components comprise exterior, interior, engine and drivetrain components, and others. The manufacturing process segment includes manual, injection and continuous, compression, and others. By composite material, polymer matrix composites will remain the largest shareholder with 8.7% of CAGR over 2014-2022. This segment will attain US$ 5.29 Mn by 2022 end, up from US$ 2.72 Bn in 2014. The segment for metal composites is predicted to witness the highest CAGR of 9.9%, reaching a value worth US$ 1.2 Bn by the end of forecast period.
The global market for automotive composites is regionally fragmented into four key geographies, viz. North America, Europe, Asia-Pacific, and rest of the world. Up from US$ 1.54 Bn in 2012, the APAC market witnessed a value worth US$ 1.82 Bn in 2014. The CAGR registered during 2012-2014 was nearly 8.7%. Owing to propelling domestic automotive production, APAC will be the dominant market for automotive composites. Consumers from developing countries in Asia Pacific are preferring lightweight, fuel-efficient vehicles, which is a key factor driving the market in this region. North America and Europe also represent significant markets for automotive composites, attributed to strict regulations regarding CO2 emissions from vehicles. In 2014, APAC accounted for over 50% share of the market value, North America and Europe contributed around 15.5% and 22.7% to the market revenues, respectively. Europe will however witness a slight decline during the forecast period, whereas North America is set to gain an uptick in the near future.
Key Players Analysis
The competitive landscape of the global automotive components market is highly concentrated and the top four companies include Mitsubishi, Toray Industries, SGL, and Toho Co. Ltd. These four players collectively account for over 70-75% share of the entire market revenues. There are a number of other notable companies, including E.I. du Pont de Nemours and Company, Saertex GmbH & Co. KG, Johnson Controls, Inc., Cytec Industries Inc., Johns Manville, Koninklijke Ten Cate N.V., Scott Bader Company Ltd., UFP Technologies, Inc., and Teijin Limited
Top companies profiled in this report are: