28-Nov-2022 | Facts and Factors
According to Facts and Factors, the global carbon thermoplastics in the automotive market size was worth USD 982.50 million in 2021 and is estimated to grow to USD 4633.94 million by 2028, with a compound annual growth rate (CAGR) of approximately 24.10% over the forecast period. The report analyzes the carbon thermoplastics in the automotive market's drivers, restraints/challenges, and their effect on the demands during the projection period. In addition, the report explores emerging opportunities in carbon thermoplastics in the automotive market.
Automotive carbon thermoplastic is a composite material made of plastic and carbon fiber. The carbon fiber is mixed with one or two polymers to produce a unique material that will be used to manufacture strong and light automobile parts. These thermoplastic materials were used to design the car's exterior and interior components. An added benefit is the excellent resilience of automotive carbon thermoplastic to deformation and both acid and alkaline corrosion. Interest in its capacity to satisfy the automobile industry's energy conservation and CO2 reduction objectives has grown over the last few years. As a result of the carbon fiber reinforced polymer's ability to produce lightweight materials, the aerospace and automotive industries frequently utilize these materials. Adding carbon thermoplastic will increase the material's resistance to deformation and crack growth. Using carbon thermoplastics will help boost load capacity and fuel efficiency. Additionally, it aids in dampening noise and vibration in automobiles.
Browse the full “Carbon Thermoplastics in the Automotive Market Size, Share, Growth Analysis Report By Resin Type (Polyamide (PA), Polypropylene (PP), Polyphenylene Sulfide (PPS), Polyetherimide (PEI), Polyether Ether Ketone (PEEK), Polycarbonate (PC)), By Application (Exterior, Interior, Chassis, Powertrain & UTH), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028" report at https://www.fnfresearch.com/carbon-thermoplastics-in-the-automotive-market
Due to rising demand for fuel-efficient vehicles, decreased weight, and part consolidation, the carbon thermoplastic market in the automotive industry has experienced tremendous growth. Additionally, pollution laws make OEMs more interested in carbon fiber composites. Additionally, this presents a sizeable potential for the leading players in the carbon thermoplastic automotive market throughout the forecast year. The desire for lightweight and fuel-efficient automobiles in the global automotive market is driving the carbon thermoplastics in the automotive market, as automotive carbon thermoplastics composite is one of the effective ways of reducing vehicle weight, improving fuel economy, and lowering pollution levels. However, the overall rise of carbon thermoplastic in the automotive market is predicted to be hampered by the high material cost of carbon fiber, dyspepsia, and worries about recyclability. High volume production of structural vehicle components is expected to open up enormous prospects for carbon thermoplastics in the automotive business in the coming years.
The global carbon thermoplastics market in automotive is segregated based on resin type and application. Based on resin type, the market is segmented into polyamide (PA), polypropylene (PP), polyphenylene sulfide (PPS), polyetherimide (PEI), and polyether ether ketone (PEEK), polycarbonate (PC). The polypropylene (PP) sector dominates the market in 2021. Based on application, the market is classified into the exterior, interior, chassis, powertrain & UTH. The powertrain & UTH category dominates the market in 2021.
The global carbon thermoplastics in the automotive market are divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. In 2021, the Asia Pacific dominated the carbon thermoplastics market for automobiles. The booming economies of China and India offer several investment opportunities for various industry players. The impacts of globalization and westernization are advantageous to the market. Wealthier people have a greater need for durable parts for their cars. The automotive industry is expected to spend more on infrastructure, changing consumer preferences, concentrate on rising living standards, and see significant economic growth in the automotive carbon thermoplastics market.
Market Size in 2021
USD 982.50 Million
Projected Market Size in 2028
USD 4633.94 Million
CAGR Growth Rate
Key Market Players
BASF SE, Celanese Corporation, Cytec Solvay, Du Pont, Gurit Holding Ag, Quickstep Holdings Limited, Saudi Basic Industries Corporation, SGL Group, Teijin Ltd, Tencate, the Dow Chemical Company, Mitsubishi Chemical Corp., Toray Industries Inc. , and Others
By Resin Type, Application, and Region
Major Regions Covered
North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
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Key players in the global carbon thermoplastics in the automotive market include BASF SE, Celanese Corporation, Cytec Solvay, Du Pont, Gurit Holding Ag, Quickstep Holdings Limited, Saudi Basic Industries Corporation, SGL Group, Teijin Ltd, Tencate, the Dow Chemical Company, Mitsubishi Chemical Corp., and Toray Industries Inc.
- In 2020: Italy-based De 'Loghi, a household brand, started using polyethersulfone (PESU) from BASF SE in their coffee maker because the material is known for its top-notch performance and high-temperature endurance.
- June 2019: Aim Aerospace, based in Renton, Washington, will be purchased by Sekisui Chemical from the private equity firm Liberty Hall Capital Partners for $510 million.
Global Carbon Thermoplastics in the Automotive Market is segmented as follows:
By Resin Type
- Polyamide (PA)
- Polypropylene (PP)
- Polyphenylene Sulfide (PPS)
- Polyetherimide (PEI)
- Polyether Ether Ketone (PEEK)
- Polycarbonate (PC)
- Powertrain & UTH
- North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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