Market Size of Canada Automotive Glass Fiber Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Canada Automotive Glass Fiber Composites Market Analysis
The automotive glass fiber composites market is expected to register a CAGR of over 3%, during the forecast period, 2020 - 2025.
- The major growth drivers associated with this market are the rise in automotive production and the increasing demand for durable and lightweight materials because of stringent government regulations to reduce greenhouse gas emissions
- The future of the global automotive glass fiber composites market looks bright with opportunities in different automobile applications, such as interiors, exteriors, structural assembly, power-train and engine components, electrical and electronics, and others. The market for glass fiber composites in automobile structures is expected to be the fastest-growing segment, due to the wide variety of applications.
- Strategic alliances between car manufacturers, glass fiber, and resin suppliers are the trends that have a direct impact on the dynamics of the automotive composites industry. Within the intermediates type, short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and continuous fiber thermoplastic (CFT) are the major ones that are used in automotive applications. SFT is expected to be the largest market by value, mainly driven by applications in power-train and engine components applications, which feature small complex-shaped components.
Canada Automotive Glass Fiber Composites Industry Segmentation
The Canada automotive glass fiber composites market covers the latest trends and technological development and market demand by Intermediate type, application type, and market share of major automotive glass fiber composites manufacturing companies across Canada.
| By Intermediate Type | |
| Short Fiber Thermoplastic (SFT) | |
| Long Fiber Thermoplastic (LFT) | |
| Continuous Fiber Thermoplastic (CFT) | |
| Other Intermediate Types |
| By Application Type | |
| Interior | |
| Exterior | |
| Structural Assembly | |
| Power-train Components | |
| Other Application Types |
Canada Automotive Glass Fiber Composites Market Size Summary
The Canadian automotive glass fiber composites market is poised for growth, driven by the increasing production of vehicles and the demand for lightweight, durable materials. This demand is largely influenced by stringent government regulations aimed at reducing greenhouse gas emissions. The market is expected to see significant opportunities across various automotive applications, including interiors, exteriors, structural assemblies, and power-train components. Strategic partnerships between car manufacturers and suppliers of glass fiber and resin are shaping the industry's dynamics. Among the different types of intermediates, short fiber thermoplastic is anticipated to lead the market due to its application in complex-shaped components like power-train and engine parts.
Advanced materials such as glass fiber composites have gained popularity in the automotive industry, offering advantages over traditional materials like steel. These composites are lightweight, corrosion-resistant, and provide significant chemical resistance, making them ideal for use in bumpers, hoods, and various engine components. Despite the challenges posed by global trade tensions and the COVID-19 pandemic, which have slowed down automobile sales and production, the market is expected to recover as economies reopen and governments implement stimulus measures. The Canadian market is consolidated, with major players like Solvay Group, 3B (Braj Binani Group), Owens Corning, Veplas Group, and SAERTEX GmbH & Co.KG leading the way, alongside smaller companies focusing on aftermarket products.
Canada Automotive Glass Fiber Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Intermediate Type
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2.1.1 Short Fiber Thermoplastic (SFT)
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2.1.2 Long Fiber Thermoplastic (LFT)
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2.1.3 Continuous Fiber Thermoplastic (CFT)
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2.1.4 Other Intermediate Types
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2.2 By Application Type
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2.2.1 Interior
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2.2.2 Exterior
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2.2.3 Structural Assembly
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2.2.4 Power-train Components
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2.2.5 Other Application Types
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Canada Automotive Glass Fiber Composites Market Size FAQs
What is the current Canada Automotive Glass Fiber Composites Market size?
The Canada Automotive Glass Fiber Composites Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Canada Automotive Glass Fiber Composites Market?
3B (Braj Binani Group), Owens Corning, Solvay Group, Veplas Group and SAERTEX GmbH & Co.KG are the major companies operating in the Canada Automotive Glass Fiber Composites Market.
