Global Automotive Glass Fiber Composites Market (2023-2028) Competitive Analysis, Impact of Covid-19, Ansoff Analysis

The Global Automotive Glass Fiber Composites Market is estimated to be USD 2.95 Bn in 2023 and is expected to reach USD 3.97 Bn by 2028 growing at a CAGR of 6.11%.

Increase in Demand for Lightweight and Fuel-Efficient Vehicles: The increasing demand for lightweight and fuel-efficient vehicles is a significant driver in the Global Automotive Glass Fiber Composites market. Automakers are under pressure to meet stringent fuel efficiency standards and reduce emissions. Glass fiber composites, being lightweight and strong, are being adopted to replace heavier materials, contributing to the overall reduction in vehicle weight and improved fuel efficiency.

Market Segmentations

• The Global Automotive Glass Fiber Composites Market is segmented based on Intermediate, Application, and Geography.
• Global Automotive Glass Fiber Composites Market, By Intermediate Type:
• Short Fiber Thermoplastic (SFT): Short fiber thermoplastic composites are a common intermediate type in the automotive industry. These composites consist of short glass fibers mixed with thermoplastic resins. They are known for their ease of processing and molding into various shapes. Short-fiber thermoplastics are used for components that require moderate strength and rigidity, such as interior parts, door panels, and various under-the-hood components.
• Long Fiber Thermoplastic (LFT): Long fiber thermoplastic composites are characterized by longer glass fibers in a thermoplastic matrix. This intermediate type offers enhanced mechanical properties, making it suitable for automobile structural components. LFT composites are often used in applications such as front-end modules, bumpers, and other parts that require a balance of strength and weight savings.

Recent Development

• Asahi Glass Company announces that it has developed a new glass fiber composite manufacturing process that can produce parts with complex geometries. The new process is expected to be used to produce parts for electric vehicles and autonomous vehicles. - February 2023

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are AGC Inc., Asahi Glass Company, 3B (Braj Binani Group), China Jushi Co., Ltd., etc.

Countries Studied

• America (Argentina, Brazil, Canada, Chile, Colombia, Mexico, Peru, United States, Rest of Americas)
• Europe (Austria, Belgium, Denmark, Finland, France, Germany, Italy, Ireland, Luxembourg, Netherlands, Norway, Poland, Russia, Spain, Sweden, Switzerland, United Kingdom, Rest of Europe)
• Middle East and Africa (Egypt, Israel, Qatar, Nigeria, Saudi Arabia, South Africa, United Arab Emirates, Rest of MEA)
• Asia-Pacific (Australia, Bangladesh, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Sri Lanka, Thailand, Taiwan, Rest of Asia-Pacific)

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

• The report presents a detailed Ansoff matrix analysis for the Global Automotive Glass Fiber Composites Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
• The publisher analyses the Global Automotive Glass Fiber Composites Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
• Based on the SWOT analysis conducted on the industry and industry players, the publisher has devised suitable strategies for market growth.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Automotive Glass Fiber Composites Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the Proprietary competitive positioning tool.

Report Highlights

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market