US Automotive Glass Fiber Composites Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Automotive Glass Fiber Composites Market Analysis
The United States automotive glass fiber composites market is expected to register a CAGR of over 3.5%, during the forecast period, 2020 - 2025.
The major growth drivers associated with this market are the rise in automotive production and the increasing demand for durable and lightweight materials because of stringent government regulations to reduce greenhouse gas emissions
The future of the global automotive glass fiber composites market looks bright with opportunities in different automobile applications, such as interiors, exteriors, structural assembly, powertrain and engine components, electrical and electronics, and others. The market for glass fiber composites in automobile structures is expected to be the fastest-growing segment, due to the wide variety of applications.
Strategic alliances between car manufacturers, glass fiber, and resin suppliers are the trends that have a direct impact on the dynamics of the automotive composites industry. Within the intermediates type, short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and continuous fiber thermoplastic (CFT) are the major ones that are used in automotive applications. SFT is expected to be the largest market by value, mainly driven by applications in powertrain and engine components applications, which feature small complex-shaped components.
US Automotive Glass Fiber Composites Market Trends
This section covers the major market trends shaping the US Automotive Glass Fiber Composites Market according to our research experts:
Increasing Adoption of Glass Fiber Composites in Automobiles
Although automobiles have been around for more than a century, the materials they are made of have mostly remained the same. Only since the past few decades that advanced materials, ranging from magnesium alloys to glass fiber composites, have made their way into new-generation cars. Advanced materials, such as glass fiber composites, are essential for boosting the fuel economy of modern cars, maintaining performance and safety. Since it takes lesser energy to accelerate a lighter object than a heavier one, lightweight materials offer great potential for increasing vehicle efficiency. A 10% reduction in the vehicle's weight can transpire to a 6-8% increase in fuel economy.
Manufacturers are working to reduce overall vehicle weight, which lowers the energy required to operate the vehicle, increasing fuel economy. The Body-In-White system is the critical focal point for automakers looking for fuel savings because of its weight reduction potential, importance to crash safety, and impact on compounded weight reduction for other sub-systems, such as the powertrain.
Glass fiber composites are materials that have become popular in the past few years. One of the reasons for fiberglass composite's relative success is that it has several advantages when compared to steel. It is corrosion-resistant, has significant chemical resistance, and is lightweight (three times less dense than steel). Fiberglass composite is mainly used in bumpers, hoods, and casings. Another area where this material is used is V-belts and timing belts, where glass strings are impregnated with rubber acting as reinforcement. Abrasion resistance is one other advantage of the fiberglass composite, which is why it is used for producing clutches and brake pads. Clutch disks are reinforced with woven fiberglass composites to maintain their integrity.
United States Has the Largest Market in North America
In the United States, the Corporate Average Fuel Economy (CAFE) implemented laws to improve fuel efficiency for automobiles categories by 2025. There is an increasing growth rate for miles per gallon (MPG) regulation, which is growing at 5% every year for all segments of automobiles.
Often materials are not recycled and sent to landfills. Environmental Protection Agency (EPA) proposed life cycle assessment (LCA) studies to detect higher emissions over the vehicle's entire life cycle. LCA looks at resources, energy, emissions, extraction phase, end-of-life phase, and disposal, and recycling. As a result, there is growing importance being given to lightweight glass fiber composites and its recyclability process due to regulations to limit GHG emissions from vehicles.
The United States is touted to be the fastest-growing market due to the presence of many car manufacturers, such as General Motors, Ford Motor Company, and Fiat Chrysler Automobiles, who are adopting glass fiber composites in their cars. Government regulations, such as the greenhouse gas emission target in the is also paving the way for OEMs to incorporate lightweight materials to decrease the overall vehicle weight.
The United States is one of the leading automobile manufacturing countries globally. The country has recovered to a reasonable extent from the economic recession that adversely affected the country's economic condition. More than 4.7 million automobiles were annually sold in the United States. With an increase in the production of passenger vehicles and SUVs, the demand for fiberglass in the reinforcements of automotive components is expected to increase during the forecast period significantly.
US Automotive Glass Fiber Composites Industry Overview
The United States automotive glass fiber composites market is fragmented with existing market players such as Solvay Group, 3B (Braj Binani Group), Owens Corning, Veplas Group, and SAERTEX GmbH & Co.KG, who holds the most significant shares. To have the edge over its competitors' companies are making joint-ventures, partnerships, launching new products with advanced technology.
US Automotive Glass Fiber Composites Market Leaders
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Solvay Group
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3B (Braj Binani Group)
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Owens Corning
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Veplas Group
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SAERTEX GmbH & Co.KG
*Disclaimer: Major Players sorted in no particular order
US Automotive Glass Fiber Composites Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Drivers
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4.2 Market Restraints
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4.3 Porters Five Force Analysis
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4.3.1 Threat of New Entrants
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4.3.2 Bargaining Power of Buyers/Consumers
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4.3.3 Bargaining Power of Suppliers
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4.3.4 Threat of Substitute Products
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4.3.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 Intermediate Type
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5.1.1 Short Fiber Thermoplastic (SFT)
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5.1.2 Long Fiber Thermoplastic (LFT)
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5.1.3 Continuous Fiber Thermoplastic (CFT)
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5.1.4 Other Intermediate Types
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5.2 Application Type
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5.2.1 Interior
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5.2.2 Exterior
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5.2.3 Structural Assembly
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5.2.4 Power-train Components
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5.2.5 Other Application Types
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6. COMPETITIVE LANDSCAPE
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6.1 Vendor Market Share
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6.2 Company Profiles
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6.2.1 Solvay Group
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6.2.2 3B (Braj Binani Group)
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6.2.3 Owens Corning
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6.2.4 Veplas Group
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6.2.5 SAERTEX GmbH & Co.KG
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6.2.6 ASAHI FIBER GLASS Co., Ltd.
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6.2.7 Nippon Sheet Glass Company, Limited
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6.2.8 Jiangsu Changhai Composite Materials
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
US Automotive Glass Fiber Composites Industry Segmentation
The United States automotive glass fiber composites market report covers the current and upcoming trends with recent technological developments in various market areas by intermediate type, application type. The country-level analysis and market share of significant Glass fiber manufacturing companies across the United States will be provided in the report.
| Intermediate Type | |
| Short Fiber Thermoplastic (SFT) | |
| Long Fiber Thermoplastic (LFT) | |
| Continuous Fiber Thermoplastic (CFT) | |
| Other Intermediate Types |
| Application Type | |
| Interior | |
| Exterior | |
| Structural Assembly | |
| Power-train Components | |
| Other Application Types |
US Automotive Glass Fiber Composites Market Research FAQs
What is the current US Automotive Glass Fiber Composites Market size?
The US Automotive Glass Fiber Composites Market is projected to register a CAGR of 3.5% during the forecast period (2024-2029)
Who are the key players in US Automotive Glass Fiber Composites Market?
Solvay Group , 3B (Braj Binani Group) , Owens Corning , Veplas Group and SAERTEX GmbH & Co.KG are the major companies operating in the US Automotive Glass Fiber Composites Market.
What years does this US Automotive Glass Fiber Composites Market cover?
The report covers the US Automotive Glass Fiber Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the US Automotive Glass Fiber Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Automotive Glass Fiber Composites Industry Report
Statistics for the 2024 US Automotive Glass Fiber Composites market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. US Automotive Glass Fiber Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
