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Weight Reduction Urgency Creates Dynamic Product and Technology Innovations in the Automotive Composites Sector
"The automotive industry is moving rapidly toward vehicle lightweighting and OEMs are experimenting with a multi-material approach to achieve optimum weight savings, as well as adhering to regional regulations pertaining to vehicle weight, fuel efficiency, and emissions norms," said Dr. Leonidas Dokos, Global Director, Chemicals & Materials in Infrastructure & Mobility. "Composites represent a vital part of the lightweight strategy as they are increasingly applied in interiors, exterior structures, and under-the-hood applications."
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To emulate top participants in the global market, such as SABIC, BASF, Lanxess, DSM, Toray, and Teijin, Dokos recommends composite manufacturers focus on capacity expansions and strategic tie-ups with OEMs, as well as having a strong research and development setup to reduce prices and improve product performance. Further recommendations for securing growth opportunities in the market include:
"While carbon fiber composites offer utmost lightweighting capabilities that will help OEMs meet the stringent weight reduction and fuel-efficient targets, the high costs have significantly impacted their adoption within the super-premium car segment as well as mass-market segment," noted Dokos. "Carbon-fiber composite manufacturers must focus on cutting costs to drive sluggish adoption rates."
Frost & Sullivan's recent analysis, analyses the global automotive composites market in respect to the lightweighting initiatives undertaken by OEMs. The main segments covered by product type are glass fiber reinforced plastics (GFRP), carbon fiber reinforced plastics (CFRP) and natural fiber reinforced plastics (NFRP). Major market drivers and restraints, regional regulations, demand outlooks for lightweighting materials, application growth trends, and key technology and product innovations across the value chain are also discussed.
is part of Frost & Sullivan's Chemicals & Materials in Infrastructure and Mobility research and analyses available through the Frost & Sullivan Leadership Council, which helps organisations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Jacqui Holmes
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