Market Size of US Automotive Glass Fiber Composites Industry
| 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 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 Size Summary
The United States automotive glass fiber composites market is poised for significant growth, driven by the increasing production of vehicles and the rising demand for lightweight and durable materials. This demand is largely influenced by stringent government regulations aimed at reducing greenhouse gas emissions. The market is expected to see substantial opportunities across various automobile applications, including interiors, exteriors, structural assembly, and powertrain components. The segment for glass fiber composites in automobile structures is anticipated to be the fastest-growing, owing to its diverse applications. Strategic partnerships between car manufacturers and suppliers of glass fiber and resin are shaping the industry's dynamics, with short fiber thermoplastic being a major component due to its application in complex-shaped powertrain and engine components.
The adoption of advanced materials like glass fiber composites is crucial for enhancing the fuel efficiency of modern vehicles, as lighter materials contribute to better fuel economy. These composites offer several advantages over traditional materials such as steel, including corrosion resistance, chemical resistance, and reduced weight, making them ideal for use in various automotive components like bumpers, hoods, and brake pads. The United States, being a leading automobile manufacturing hub, is witnessing a growing demand for these composites, supported by government regulations like the Corporate Average Fuel Economy standards. The market is characterized by fragmentation, with key players such as Solvay Group, Owens Corning, and SAERTEX GmbH & Co.KG actively engaging in partnerships and technological advancements to maintain a competitive edge.
US Automotive Glass Fiber Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Intermediate Type
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2.1.1 Short Fiber Thermoplastic (SFT)
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2.1.2 Long Fiber Thermoplastic (LFT)
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2.1.3 Continuous Fiber Thermoplastic (CFT)
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2.1.4 Other Intermediate Types
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2.2 Application Type
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2.2.1 Interior
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2.2.2 Exterior
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2.2.3 Structural Assembly
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2.2.4 Power-train Components
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2.2.5 Other Application Types
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US Automotive Glass Fiber Composites Market Size 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.
