UPR in the global automotive composites market is forecast to grow at a CAGR of 5.3% from 2016 to 2021.
The future of global unsaturated polyester resin in 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. 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.
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.
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.
North American is expected to remain the largest market due to growing demand for lightweight and environmentally sustainable composite materials from the automotive industry.
The study includes a forecast for global unsaturated polyester resin in automotive composites marketby application, intermediate material type, by country and by region as follows:
Unsaturated Polyester Resin in Automotive Composites Market by Application Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Pick up box
- Closure Panel
- Body Panel
- Heat shield
- Headlamp Reflector
Unsaturated Polyester Resin in Automotive Composites Market by Material Type (Value ($M) and Volume (M lbs) from 2010 to 2021):