Lucintel’s latest market report analyzed that ASEAN automotive composites provides attractive opportunities in exterior, interior, power train systems, under body systems, and electrical & electronics applications. The ASEAN automotive composites market is expected to reach $0.2 billion by 2026 with a CAGR of 9.9%. In this market, SFT (Short Fiber Thermoplastic) are the largest segment by material type, whereas power train system is largest by application. The growing focus on bio-based composites materials provides strategic growth path in this market.
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Based on material type, the ASEAN automotive composites market is segmented into SFT (short fiber thermoplastic), LFT (long fiber thermoplastic), SMC (sheet molding compound), BMC (bulk molding compound), and GMT (glass mat thermoplastic), and other. The SFT (short fiber thermoplastic) segment accounted for the largest share of the market in 2020 because it offers corrosion resistance, insulation properties, low susceptibility to moisture and high mechanical properties.
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31 – Tables
67 – Figures
125 – Pages
The ASEAN automotive composites market is marked by the presence of several big and small players. Some of the prominent players offering ASEAN automotive composites include Hanwha, Quadrant Plastic Composites, Polynt-Reichhold, SABIC, Polyone, and Cytec Solvay.
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