The long-fibre thermoset composites market is estimated to grow at a moderate to high rate during the forecast period 2018-2023.
The Asia-Pacific is expected to witness highest growth in the demand for long-fibre thermoset composites during the forecast period, owing to the rising demand from automotive and construction industry.
European carbon emissions regulations have lowered the amount of emissions per kilometer, from below 130g/km CO2 in 2015 to 95g/km CO2 in 2021. A level of 68-75g/km CO2 is proposed beyond that, possibly by 2025 or 2030. This encourages OEMs to improve the fuel economy of their car fleet.
However, certain OEMs have expressed their concerns at the planned regulations as they are more stringent compared to other regions in the world, potentially leading to added costs in product or technology development. This has created an opportunity for the automakers as well as consumers to look forward to alternatives solutions to tackle this problem, which, in turn, brought EVs/Plug-in-vehicles in the picture.
Most automakers have been looking at composite materials as part of their multi-material light weighting strategies both in ICE and E-drive vehicles. In e-vehicles, a lower weight vehicle body allows downsizing batteries while maintaining range of the vehicle. Reducing vehicle body and battery pack weight leads to a compounding effect on weight reduction of the overall vehicle. Hence this enables the downsizing of other parts such as brake systems and drivetrain parts. In ICE driven vehicles, the lower weight reduces emissions and improves performance at equal drivetrain power and torque levels.
Stringent Regulations for Carbon Emission and Uptake of Electric Vehicles
Building & Construction Industry in China is Likely to Propel the Market
United States is one of the Major Consumer in the Long-fiber Thermoset Composites Market
Key Topics Covered
2. Executive Summary
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