Market Overview:
The global Vehicle Wheel Spindle market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for composites panel products and electrical plastic products. In addition, the growing demand for industrial abrasives is also contributing to the growth of this market. Asia Pacific is expected to be the fastest-growing region during the forecast period, followed by Europe and North America.
Product Definition:
A vehicle wheel spindle is a metal shaft that protrudes from the center of a vehicle wheel and rests on the hub. The spindle transmits torque from the engine to the wheel, and it also supports the weight of the car.
Urea Formaldehyde Resin Power:
Urea-formaldehyde resin power (UFRS) is a composite material, which consists of around 50% of resins and 50% of formaldehyde. It has high strength and durability along with excellent resistance to corrosion & heat. This composite material offers several advantages over conventional materials such as steel, aluminum or other alloys; hence it's being increasingly used in the automotive wheel spindle market.
Urea Formaldehyde Resin Solution:
Urea-formaldehyde resin solution is a water-based coating material that contains around 37% of urea resins and 63% of formaldehyde. It's major application includes vehicle wheel spindle, which is used in the manufacturing process of car wheels. Urea-formaldehyde resin solution has high resistance to solvents, acids & bases and has low permeability to gases & liquids making it suitable for use as a protective coating for metal parts in vehicles.
Application Insights:
The composite panel products segment led the global vehicle wheel spindle market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to rising demand for automotive body panels that are required to meet stringent safety norms set by regulatory authorities across various countries worldwide.
Electrical plastic product application segment was valued at USD 281.5 million in 2017 owing to increasing use of electrical components in automobiles which has resulted in increased demand for electric vehicles (EVs). Moreover, growing preference towards composites with superior properties such as high strength and stiffness is expected to augment industry growth over the coming years.
Regional Analysis:
Asia Pacific dominated the global vehicle wheel spindle market in terms of revenue with a share of over 40.0% in 2017. The region is expected to witness significant growth over the forecast period owing to increasing demand for commercial vehicles and passenger cars from emerging economies such as China, India, and Japan. In addition, rising disposable income coupled with government initiatives such as “Make in India†are expected to drive automotive industry growth which will further propel product demand over the next eight years.
Europe was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for lightweight vehicles: The global trend of downsizing and weight reduction in vehicles is expected to drive the demand for vehicle wheel spindles. Vehicle wheel spindles made of aluminum alloys are lighter in weight as compared to those made of steel, which helps reduce the overall weight of the vehicle. This, in turn, improves fuel efficiency and reduces emissions.
- Growing popularity of electric vehicles: Electric vehicles have witnessed a surge in popularity in recent years due to their environmental benefits and low running costs. As electric vehicles become more popular, there is likely to be an increase in demand for vehicle wheel spindles that are compatible with these types of vehicles.
- Rising disposable income levels: A growing middle class population with rising disposable incomes is driving growth in the automotive sector across developing countries such as China and India . This is expected to lead to an increase in demand for premium cars equipped with advanced features such as Vehicle Wheel Spindle systems .
Scope Of The Report
Report Attributes
Report Details
Report Title
Vehicle Wheel Spindle Market Research Report
By Type
Urea Formaldehyde Resin Power, Urea Formaldehyde Resin Solution
By Application
Composite Panel Products, Electrical Plastic Product, Industrial Abrasives, Others
By Companies
Hexion, Advachem, Metadynea, Allnex, Dynea, Kronospan, Mitisuichem, Hexza, Basf, Chemiplastica, GP Chem, Rayonier Advanced Materials, Ercros, Foresa, Jilin Forest, Sanmu, Yuntianhua, Huasen, Gaoxing Muye, Yuanye, Senbang, Bosson
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
127
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Vehicle Wheel Spindle Market Report Segments:
The global Vehicle Wheel Spindle market is segmented on the basis of:
Types
Urea Formaldehyde Resin Power, Urea Formaldehyde Resin Solution
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Composite Panel Products, Electrical Plastic Product, Industrial Abrasives, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Hexion
- Advachem
- Metadynea
- Allnex
- Dynea
- Kronospan
- Mitisuichem
- Hexza
- Basf
- Chemiplastica
- GP Chem
- Rayonier Advanced Materials
- Ercros
- Foresa
- Jilin Forest
- Sanmu
- Yuntianhua
- Huasen
- Gaoxing Muye
- Yuanye
- Senbang
- Bosson
Highlights of The Vehicle Wheel Spindle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Urea Formaldehyde Resin Power
- Urea Formaldehyde Resin Solution
- By Application:
- Composite Panel Products
- Electrical Plastic Product
- Industrial Abrasives
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Vehicle Wheel Spindle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A vehicle wheel spindle is a metal or plastic component that attaches to the hub of a wheel and helps rotate it.
Some of the major players in the vehicle wheel spindle market are Hexion, Advachem, Metadynea, Allnex, Dynea, Kronospan, Mitisuichem, Hexza, Basf, Chemiplastica, GP Chem, Rayonier Advanced Materials, Ercros, Foresa, Jilin Forest, Sanmu, Yuntianhua, Huasen, Gaoxing Muye, Yuanye, Senbang, Bosson.
The vehicle wheel spindle market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Vehicle Wheel Spindle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Vehicle Wheel Spindle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Vehicle Wheel Spindle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Vehicle Wheel Spindle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Vehicle Wheel Spindle Market Size & Forecast, 2020-2028
4.5.1 Vehicle Wheel Spindle Market Size and Y-o-Y Growth
4.5.2 Vehicle Wheel Spindle Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Urea Formaldehyde Resin Power
5.2.2 Urea Formaldehyde Resin Solution
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Composite Panel Products
6.2.2 Electrical Plastic Product
6.2.3 Industrial Abrasives
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Vehicle Wheel Spindle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Vehicle Wheel Spindle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Urea Formaldehyde Resin Power
9.6.2 Urea Formaldehyde Resin Solution
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Composite Panel Products
9.10.2 Electrical Plastic Product
9.10.3 Industrial Abrasives
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Urea Formaldehyde Resin Power
10.6.2 Urea Formaldehyde Resin Solution
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Composite Panel Products
10.10.2 Electrical Plastic Product
10.10.3 Industrial Abrasives
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Urea Formaldehyde Resin Power
11.6.2 Urea Formaldehyde Resin Solution
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Composite Panel Products
11.10.2 Electrical Plastic Product
11.10.3 Industrial Abrasives
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Urea Formaldehyde Resin Power
12.6.2 Urea Formaldehyde Resin Solution
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Composite Panel Products
12.10.2 Electrical Plastic Product
12.10.3 Industrial Abrasives
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Urea Formaldehyde Resin Power
13.6.2 Urea Formaldehyde Resin Solution
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Composite Panel Products
13.10.2 Electrical Plastic Product
13.10.3 Industrial Abrasives
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Vehicle Wheel Spindle Market: Competitive Dashboard
14.2 Global Vehicle Wheel Spindle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Hexion
14.3.2 Advachem
14.3.3 Metadynea
14.3.4 Allnex
14.3.5 Dynea
14.3.6 Kronospan
14.3.7 Mitisuichem
14.3.8 Hexza
14.3.9 Basf
14.3.10 Chemiplastica
14.3.11 GP Chem
14.3.12 Rayonier Advanced Materials
14.3.13 Ercros
14.3.14 Foresa
14.3.15 Jilin Forest
14.3.16 Sanmu
14.3.17 Yuntianhua
14.3.18 Huasen
14.3.19 Gaoxing Muye
14.3.20 Yuanye
14.3.21 Senbang
14.3.22 Bosson
