Lucintel Forecasts Asean Automotive Composites Market To Reach $442 Million By 2030

By Author: Lucintel LLC
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According to the recent study the ASEAN automotive composites market is projected to reach an estimated $442 million by 2030 from $301 million in 2023 at a CAGR of 6% from 2023 to 2030. Growth in this market is primarily driven by the domestic consumption by government, NGOs, and civic bodies.
Browse 107 figures/charts and 68 tables in this 205-page report to understand trends, opportunities and forecast in ASEAN automotive composites market by application (exterior, interior, power train systems, under body systems, electrical and electronics, and others), material type (SFT , LFT, SMC, BMC, and GMT, and other), fiber composites type (glass fiber, carbon fiber and natural fiber), resin type (PP, PA, PBT, polyester, vinyl ester and others), resin group (thermoplastic, thermoset), and country (Malaysia, Thailand, Vietnam, Indonesia, and others).
Lucintel forecasts that SFT will remain the largest segment by value and volume and will experience the highest growth over the forecast period because it offers corrosion resistance, insulation properties, low susceptibility to moisture and high mechanical properties.
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Power train system industry will remain the largest application and under body system is expected to witness the highest growth over the forecast period due to increasing demand for composite components in automotive industry.
Hanwha, Quadrant Plastic, Polynt-Reichhold, SABIC, Avient, Cytec Solvay are the major supplier in the ASEAN automotive composites market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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