IRVING, Texas, April 12, 2017 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of unsaturated polyester resin (UPR) in the global automotive composites market looks promising with opportunities in various applications, including closure panels, body panels, fenders, GOR(grille opening reinforcement), heat shields, headlamp reflectors, pickup box and others. UPR in the global automotive composites market is forecast to grow at a CAGR of 5.3% from 2016 to 2021. The major drivers for market growth are the increasing demand for lightweight materials, and performance benefits of reinforced composites over rival materials. UPR Composites with properties such as easy to process, high tensile strength, lightweight, good corrosion resistance and surface tension are ideal for manufacturing lightweight and fuel-efficient vehicles.
Browse 38 market data tables and 122 figures spread through 168 pages and in-depth TOC on “Global Unsaturated Polyester Resin in Automotive Composites Market"
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In this market, pickup box, closure panels, body panels, fenders, GOR, heat shields, and headlamp reflectors are the major applications. On the basis of its comprehensive research, Lucintel forecasts that the headlamp reflector is expected to be the largest market and witness the highest growth rate during the forecast period of 2016 to 2021. Increasing automotive production and demand of durable and lightweight materials is the major drivers for this market.
Within the global automotive composites market, sheet molding compound (SMC) and bulk molding compound (BMC) are the major intermediates materials. Within this market, polyester resin is used to make sheet molding compound and bulk molding compound for automotive parts. SMC is expected to remain the largest market by value and volume, mainly because of its greater flexural strength and tensile strength than BMC. SMC also has longer fiber length and higher fiber content components in body and closure panel applications and these qualities will spur growth for this segment over the forecast period.
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North America is expected to remain the largest market due to growing demand for lightweight and environmentally sustainable composite materials from the automotive industry. Government regulations, such as CAFÉ Standards in the US are putting pressure on OEMs to incorporate light-weight materials to curb the overall vehicle weight, and this is the key driver for unsaturated polyester resin in the automotive industry.
Asia Pacific is expected to witness significant growth over the forecast period because of rapidly increasing domestic automotive production especially in developing countries such as India and China.
For business expansion, Lucintel’s report suggests innovation and new product development to produce UPR resin with high excellent heat-resistant properties. The report further suggests the development of partnerships with customers to create win-win situations and development of low-cost solutions for customers.
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Emerging trends, which has a direct impact on the dynamics of the industry is avoiding the usage of styrene as the major raw material for manufacturing UPR because it is hazardous for health. Polynt, Ashland, AOC,LLC, Aliancys A.G. and New Solar Co.Ltd. are among the major suppliers of UPR in the global automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities for UPR in the global automotive composites market by application, material type, and by region and has come up with a comprehensive research report entitled “Growth Opportunities for Unsaturated Polyester Resin in the Global Automotive Composites Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for UPR in the Global Automotive Composites market by application, intermediate material type, by country and by region as follows:
Unsaturated polyester resin in automotive composites market by Application Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Pick up box
- Closure Panel
- Body Panel
- Fenders
- GOR
- Heat shield
- Headlamp Reflector
- Others
Unsaturated polyester resin in automotive composites market by Material Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Sheet Molding Compound (SMC)
- Bulk Molding Compound (BMC)
Unsaturated polyester resin in automotive composites market by Region (Value ($M) and Volume (M lbs) from 2010 to 2021):
- North American
- Europe
- APAC/ROW
Unsaturated polyester resin in automotive composites market by Country (Value ($M) and Volume (M lbs) 2015)
- US
- Canada
- Mexico
- Germany
- UK
- France
- Italy
- Spain
- China
- India
- Brazil
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This 168-page 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 click on this link http://www.lucintel.com/upr_in_automotive_composite_2016.aspx or helpdesk@lucintel.com
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