Dublin, Ireland -- (SBWIRE) -- 10/11/2018 -- Key Insights: Automotive Engine Cover Market
Maximum Revenue Continues to Pour in to Automotive Engine Cover Market through Passenger Cars
Dramatic organic growth in the production and sales of passenger cars has been among the key factors generating demand for automotive engine cover. As governments are increasingly imposing strict regulatory standards such as CAFÉ (Corporate Average Fuel Economy) standards, automakers as well as vehicle owners are rapidly preferring a switch to lightweight automotive components, promoting fuel economy.
With significantly growing deployment of lightweight components by passenger car manufacturers, lightweight automotive engine cover market is likely to witness steady growth over the years ahead. Among passenger car types and commercial vehicles, compact and luxury passenger cars are expected to contribute relatively higher to the automotive engine cover market growth.
High Potential Lightweight Composites to Mark Dominance over Other Material Types in Automotive Engine Cover Market
The global automotive engine cover market report forecasts composites as the most favored material among automakers for automotive engine cover. While the choice of automotive engine cover material has been undergoing a constant shift from metals to plastics to composites, composites are estimated to firm up their top ranking position over the next five-year period.
The quest for lightweight vehicle components, high heat resistance, better fatigue properties, and superior strength-to-weight ratio is anticipated to compel automakers to prefer the use of composites in manufacturing automotive engine covers. Expanding R&D investments in lightweight composite automotive engine covers, coupled with a growing number of companies entering long-term contracts with OEMs, will possibly fillip the innovation and adoption of composite materials in the global automotive engine cover market.
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High Performance Materials: The Potential Future of Automotive Engine Cover that Renders a Dual Advantage
Adhering to the fact that automotive engine cover demands a specific balance of properties for proper maintenance of the dimensional appearance in addition to the warp resistance, a majority of automakers are encouraging automotive engine cover manufacturers to utilize materials that possess resistance to high temperature as well as under-the-hood chemicals.
Moreover, reduction of the engine noise is also a growing trend, which is effectively supported by acoustic automotive engine covers manufactured by using a wide range of high performance composite materials such as PET (polyethylene terephthalate) or polyester.
Consumers to Drive Innovation in the Use of Plastics in Automotive Engine Cover Manufacturing
Although a traditional territory of metals, the under-the-bonnet section of new age vehicles has been witnessing immense innovation over the years. While plastics include one of the extensively used materials in automotive engine cover manufacturing due to their offerings such as light weight, high design freedom, thermal resistance, and lesser manufacturing costs, research points to restricted preference for plastics among consumers.
One of the recent respondent surveys indicates that a sizable population of vehicle owners based in developing regions are reluctant about plastic automotive engine covers when it comes to DIY auto repair. Despite a majority of automotive engine covers are easy to remove and reinstall, car owners are often concerned about the plastic cover breakage. In an effort to address such concerns among consumers while adhering to the NVH (noise, vibration, and harshness) demands, automakers are investing their R&D efforts in the innovation of plastic and derived materials used for manufacturing of automotive engine cover.
Competition Assessment: Global Automotive Engine Cover Market Landscape
Approximately 10% vehicle weight reduction consequently leads to an average of 6% fuel usage reduction. With this highlighting the driving force behind the automotive industry's shift towards lightweight components, tightening regulatory norms regarding fuel emission control and high fuel efficiency further underline the critical need for embracing lightweight automotive components manufacturing.
A majority of participants in the value chain of global automotive engine cover market are thus prioritizing a move towards lightweight composite materials. A highly flexible foam made from polyurethane has been developed by the German Chemical giant BASF, which is considered as an ideal automotive engine cover material by industry experts. The flexible soft automotive engine cover made from the company's patented version of Elastofoam has already been incorporated into selected Volvo models with an objective to integrate mechanical and acoustic properties.
DuPont recently uncovered a new range of automotive engine covers that demonstrates enhanced endurance under extreme environmental factors, and exhibits strong thermal and chemical resistance. These covers serve to safeguard both sealed and unsealed engines, and despite an appealing surface appearance, these automotive engine covers are claimed to have cheaper processing costs and superior dimensional stability.
Sharing of automotive components by two brands is a trend that continues in the automotive engine cover market as well. Recently, Skoda engine covers have been viewing the Volkswagen badge, revealing sharing of automotive engine covers between the two automotive giants as a strategic move for improved brand shares in the market.
The global automotive engine cover market report offers thorough profiling of leading players in the global automotive engine cover marketplace, some of which include E. I. du Pont de Nemours and Co., POLYTEC Holding AG, MAHLE GmbH, The Mondragón Cooperative Corporation (MCC), Miniature Precision Components Inc., Montaplast GmbH, Toyoda Gosei Co., Ltd., Rochling Group, and DSM.
Automotive Engine Cover: Product Definition
Automotive engine cover, though primarily serves to keep under-the-hood components organized, also helps heat absorption that further leads to the regulation of temperature of the engine bonnet. Automotive engine cover effectively seals critical gases and fluid, controls vibrations, and prevents extraction and return of the oil mist from the gases passing up to eventually safeguard all under-the-hood segments. Automotive engine cover also ensures efficient engine running and pressure optimization.
Global Automotive Engine Cover Market: About the Report
While automotive engine cover market has been experiencing decent growth prominent driven by material and technology innovations, the global automotive engine cover market has been projected to reach the revenue worth over a billion dollar towards 2022 end. According to a recently released intelligence outlook on the global automotive engine cover market, the five-year forecast period 2017-2022 will observe a sluggish CAGR for the automotive engine cover market expansion.
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