Japan Automotive Composites Market | Market size will increase to 187.22 thousand units | Growth, Trends, Major Companies, Value Chain Analysis and Forecast (2022
passenger vehicle segment will provide maximum business opportunities | Growing use of carbon fiber materials in automotive industry to drive growth, although high costs associated with carbon fiber may hamper market growth
NEW YORK, February 15, 2022 /PRNewswire/ — The Automotive Composites Market Share in Japan is expected to increase by 187.22 thousand units from 2021 to 2026, according to the recent Technavio market study.
Automotive Composites Market Vendors in Japan should focus on seizing business opportunities Passenger vehicle segment since it had the largest market share during the reference year.
Segmentation by vehicle type (in scope/out of scope)
The growth of automotive composites market share in Japan by the passenger vehicle segment will be prominent during the forecast period. The growth is attributed to the increase in the disposable income of individuals belonging to the middle class. According to data provided by the International Organization of Automobile Manufacturers (OICA), the total number of passenger cars manufactured in Japan in 2020 was 6,960,025. On the other hand, Japan is one of the largest contributors to passenger car sales and production in Asia-Pacific.
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Additionally, the report also provides Value chain analysis which helps businesses gain a competitive advantage in the marketplace. the Automotive Composites Market Value Chain Japan includes the following basic components:
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Submissions
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Inbound logistics
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Operations
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External logistics
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Marketing and Sales
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Support activities
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Innovation
Strong points-
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Segmentation- The report covers in detail market segmentation by Vehicle Type (Passenger Vehicles and Commercial Vehicles) and by Application (Structural Assembly, Powertrain Components and Other Parts)
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Key Companies- 3B-Fiberglass Co., BASF SE, BMW AG, General Motors Co., Nippon Electric Glass Co. Ltd., Nitto Boseki Co. Ltd., SGL Carbon SE, Solvay SA, Teijin Ltd. and Toray Industries Inc. among others
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Driver- Growing use of carbon fiber materials in the automotive industry to drive the market.
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Challenge– High costs associated with carbon fiber to hinder market growth
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Overview of Suppliers-
The automotive composites market in Japan is fragmented and vendors are deploying organic and inorganic growth strategies to compete in the market.
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3B-the fiberglass company- The Company offers automotive composites such as Chopped Yarn, Direct Roving, Continuous Filament Mat, Wet Chopped Yarn, Choppable Roving, Chopped Yarn Mat.
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BASF SE- The company offers automotive composites that supply products to the chemical, automotive, construction, agricultural, petroleum, plastics, electrical, electronics, furniture and furniture industries. paper, and provides a range of system solutions and services.
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General Motors Co.- The Company offers automotive composites, supplies automobiles and trucks, automotive components, engines, vehicle parts, distributes vehicles.
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Learn more about key driver and market challenge-
Growing competition between automotive OEMs and automakers is fueling the adoption of advanced materials, including aluminum, carbon fiber, and magnesium, for automotive applications. Carbon fibers are highly preferred materials for automotive applications due to their high strength-to-weight ratio compared to metals, making them 20% lighter than conventional materials, such as aluminum and titanium. Rising demand for supercars and growing popularity of hypercars is fueling the sales in the global carbon fiber automotive components market, which is thus expected to drive the growth of the targeted market during the forecast period.
Carbon fibers make up over 35% of the polymer matrix and are considered an important raw material in the defense and automotive industries. The manufacturing and R&D costs associated with carbon fiber are very high, which may reduce the demand for carbon fiber in automotive composites and increase the demand for substitute products. The production and R&D cost of carbon fiber composites is eight times that of steel, which is expected to challenge the growth of the automotive composites market in Japan during the forecast period.
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Japan Automotive Composites Market Scope |
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Report cover |
Details |
Page number |
120 |
base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum and CAGR |
Decelerate at a CAGR of 2.98% |
Market Growth 2022-2026 |
187.22 th units |
Market structure |
Fragmented |
Annual growth (%) |
3.16 |
Regional analysis |
Japan |
Successful market contribution |
100% Japan |
Main consumer countries |
Japan and rest of APAC |
Competitive landscape |
Leading companies, competitive strategies, scope of consumer engagement |
Profiled companies |
3B-the fiberglass Co., BASF SE, BMW AG, General Motors Co., Nippon Electric Glass Co. Ltd., Nitto Boseki Co. Ltd., SGL Carbon SE, Solvay SA, Teijin Ltd. and Toray Industries Inc. |
Market dynamics |
Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period, |
Customization overview |
If our report does not include the data you are looking for, you can contact our analysts and customize the segments. |
Contents
Summary
Market landscape
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Market ecosystem
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Value chain analysis
Market sizing
Five forces analysis
Market segmentation by application
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Market segments
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Comparison by application
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Structural Assembly – Market size and forecast 2021-2026
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Powertrain components – Market size and forecast 2021-2026
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Other parts – Market size and forecast 2021-2026
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Market Opportunity by Application
Market segmentation by vehicle type
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Market segments
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Comparison by vehicle type
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Passenger vehicles – Market size and forecast 2021-2026
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Commercial vehicles – Market size and forecast 2021-2026
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Market Opportunity by Vehicle Type
Customer landscape
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Market factors
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Market challenges
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Market trends
Supplier Landscape
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Overview
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Landscape disturbance
Vendor analysis
appendix
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