EUROPE AUTOMOTIVE COMPOSITES MARKET

INTRODUCTION

Composites in the automotive industry are made up of two or more materials that have differing qualities. Because the constituent elements in an automobile composite are unique and do not combine, they are not considered mixes or solutions. The attributes of a composite comprising two components are commonly better than the independent materials' characteristics.

The Europe Automotive Composites Market employs polymeric materials, which offer weight savings while retaining other desirable characteristics such as structural rigidity.Polymeric materials frequently use non-renewable sources such as petroleum and require a lot of energy to manufacture.

EUROPE AUTOMOTIVE COMPOSITES MARKET DEVELOPMENTS AND INNOVATIONS

EUROPE AUTOMOTIVE COMPOSITES MARKET SIZE AND FORECAST

The European automotive Composites Market was valued at $XX Billion in 2023 and is projected to reach $XX Billion by 2030, reflecting a compound annual growth rate (CAGR) of XX% from 2024 to 2030.

EUROPE AUTOMOTIVE COMPOSITES MARKET RECENT ACQUISITION

Teijin Ltd., a Tokyo-based chemical corporation, is buying Inapal Plasticos SA, a Portuguese automotive composite supplier, following other recent automotive-related acquisitions. Teijin Holdings Netherlands B.V., the Teijin Group's holding company in the Netherlands, will purchase Inapal's shares.

The deal's details have not been revealed. Inapal is a Tier One provider of composite components to the automotive and heavy truck industries, with headquarters in Leca do Balio, Porto, Portugal. Class A body panels, structural, and underbody components are among the company's capabilities, which include sheet molding compound (SMC), carbon fiber SMC, pre-preg compression molding (PCM), direct long fiber thermoplastic (D-LFT), and glass mat thermoplastic (GMT).

Jaguar, Land Rover, BMW, Mercedes, Volkswagen, and Bentley are among the European OEM clients served by the company's two manufacturing centers in Portugal.

Inapal also offers components to the heating and cooling industry, as well as passenger seating components to the bus and rail industries, in addition to its automotive and heavy truck operations. Theybecame a Tier One provider of high-performance composites to the worldwide automotive sector after acquiring Continental Structural Plastics in Michigan.Now that we've acquired Inapal, we'll be able to keep our commitment to stakeholders and grow our technology globally, particularly in Europe.

EUROPE AUTOMOTIVE COMPOSITESMARKET DYNAMICS

New Epoxy Resin System for SMC Manufacturing of Automotive Composites Introduced by Hexion Inc.  The new product, EPIKOTE TM Resin TRAC 06605/EPIKURETM Curing Agent TRAC 06608, can be utilized to create lightweight semi-structural and structural automotive composite parts, including floors, electrical vehicle battery enclosures, spare wheel tubs, seat structures, hood inners, and more.

When coupled with glass and carbon fibers, Hexion's SMC epoxy system produces parts with superior mechanical qualities to those created with conventional unsaturated polyester (UP) or vinyl ester (VE) SMC resin systems.According to VDA 278, Hexion's epoxy SMC system produces much fewer volatile organic compounds (VOCs) than either standard or low VOC vinyl esters, with emissions considerably below global exposure guidelines.

Organic emissions for molded compounds in automobiles are governed by the VDA 278 recommendation. To meet European working standards, there is no need to monitor worker styrene exposure because Hexion's epoxy SMC system is styrene-free.Additional capital investment is frequently not necessary because the new epoxy system is compatible with tools used for other types of SMC (UP and VE).

"This new specialty epoxy product line will help their customers manufacture high-performance composite parts via high-volume SMC production with reduced scrap and relatively low labor costs.It completes the whole range of compression molding products, which also includes resin transfer molding (RTM), liquid compression molding (LCM), and prepreg molding.

The manufacture of more automobiles and the rising demand for lightweight materials to increase fuel efficiency and cut greenhouse gas emissions are the main development drivers for this industry.New regulations established by the European Union mandate that light commercial vehicles must achieve CO2 emissions targets of 147 g/km, or 43.3 mpg, for light trucks, and 95 g/km for passenger cars.

Incorporating lightweight materials, such as composites, is greatly aided by the European Commission's plan to raise the region's fuel economy regulations.

The market penetration of thermoplastic and carbon composites is rising, and these new trends have a direct impact on the dynamics of the sector. The most significant resin type categories in the European automotive composites market include polypropylene (PP) composites, polybutylene terephthalate (PBT) composites, polyamide (PA) composites, vinyl ester composites, polyester composites, phenolic composites, and others.

By value and volume of consumption, PP composites are anticipated to maintain their dominance. The attributes that drive the demand for PA composites in the automotive industry include high resistance to abrasion, low friction properties, electrical resistance, heat resistance, and superior chemical resistance. Glass fiber composites are anticipated to continue to be the most popular type of fiber in composites; however, carbon fiber composites are anticipated to expand at the fastest rate during the anticipated time frame.

EUROPE AUTOMOTIVE COMPOSITES MARKETCOMPETITIVE LANDSCAPE

Polymer nanocomposites, like thermoplastic polymers and strengthened glass, have gained importance in recent years for automakers, prompting them to seek out better, stronger, and lightweight elements for the production of vehicle units.The market is likely to be driven by factors such as rising demand for lightweight materials from the automobile sector and a growing focus on fuel efficiency.

The high cost of carbon fiber composites and glass fiber combinations, on the other hand, is impeding market expansion. The use of such composites in low-cost automobiles might dramatically raise their pricing. Toray Industries Inc. is a prominent developer of the latest integrated technologies focusing on better smarter composites focused on the spectrum of automotive improvisation integration for the future.

The Thermoplastic elastomer solutions provide high-performance automotive applications in a variety of forms to fit your design demands and processing possibilities.Toray Amber Tool epoxy manufacturing prepregs are indeed the mainstream technology, with an unparalleled reputation for dependability and a superb aesthetic surface finish.

Exel Composites provides technical breakthroughs that allow the diagnostic of unwanted accidental instances wherein the technology of Drying formworks may be made using the HiTape in a completely automated lay-up, analogous to the AFP and ATL techniques often used for UD prepregs.

HiTapenarrow breadth accuracy offers it complete control over the automated dry prototype process – and that's a waste-free procedure, even for complicated constructions, because the components are precisely positioned where they're needed.It has a very high Compression After Impact (CAI) efficiency, which is a true advance in unidirectional graphene-reinforcing infusion methods.

EUROPE AUTOMOTIVE COMPOSITES MARKET COMPANIES PROFILED

• SGL Carbon SE
• Toray Industries Inc.
• Hexcel Corporation
• UFP Technologies Inc.
• Huntsman Corporation
• Gurit Holdings Inc.
• Hexion Inc.
• Solvay SA
• Mitsubishi Chemical Holdings Corporation
• Conduent Inc.