Automotive Carbon Thermoplastic Market 2030 by Materials Type (Polyether ether ketone, Polyetherimide, Polyamide, Polypropylene, Polyphenylene sulphide, Polycarbonate, Others), By Application (Making interior, exterior, Chassis, Structural Components, Bicycle bodies, others) and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : Automotive & Transportation | Pages : 185 Pages | Published On : Mar 2024

         
     

Automotive Carbon Thermoplastic Market was valued USD 572.7 Million in 2023 and projected to reach USD 2269.1 Million by 2030, growing at a CAGR of 18.78% during the forecast period of 2023-2030.

Automotive Carbon Thermoplastic Market Size


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             xxxx                         2023-2030      

ReportDetails
Market Size ValueUSD 572.7 Million in 2023
Market Size ValueUSD 2269.1 Million by 2030
CAGR18.78%
Forecast Period2023-2030
Historic Dataxxxx
Segments Coveredxxxx
Geographics CoveredNorth America, Latin America, Europe, Asia-Pacific, Middle East & Africa

Major vendors in the global Automotive Carbon Thermoplastic Market: BASF, Cytec Solvay Group (US), PlastiComp, Inc. (U.S.), DowAksa (Turkey), SGL Group (Germany), TORAY INDUSTRIES, INC. (Japan), TEIJIN LIMITED (Japan), Hexcel Corporation (U.S.), Arkema S.A. (France), Mitsubishi Chemical Holdings Corporation (Japan), Covestro AG (Germany), Plasan Carbon Composites (U.S.) and others.

Market Overview

Carbon fiber reinforced thermoplastic composite is the name given to the automotive carbon thermoplastic. It is a thermoplastic material that is both stiff and lightweight. It is useful in the automotive sector for interior, exterior, chassis, aerospace, construction, sports, and consumer applications. Manufacturers prefer automobile carbon thermoplastic to minimize product weight and maintain sustainability. Lowering the vehicle's weight reduces costs while also improving fuel economy. The usage of lightweight composite materials can reduce weight by up to 50%. It also aids in the improvement of the strength-to-weight ratio. Automotive Carbon Thermoplastics are created from many materials such as Polyether ether ketone, Polyetherimide, Polyamide, Polypropylene, Polyphenylene sulphide, Polycarbonate, Others. Carbon fiber thermoplastic materials are used in sports equipment, chassis, and other applications. They are stronger and lighter than typical metals used in body and structural components.

 Growing preference for use of ecofriendly materials in automotive industry

The growing preference for eco-friendly materials in the automotive industry, such as those made of resins and which are highly resistant to deformation, alkali, alkaline, and acid corrosion, is one of the main factors driving the global automotive carbon thermoplastic market. The automotive sector faces ongoing pressure to reduce its carbon footprint and embrace more climate-friendly methods. Conventional manufacturing methods including molding, casting, and machining have had a big effect on the environment. In order to lessen its carbon impact, the automotive industry has acknowledged this challenge and is implementing sustainable production techniques. In order to lessen its carbon impact, the automotive industry has acknowledged this challenge and is implementing sustainable production techniques.

Market Dynamics

Drivers:

  • Its light weight and high strength
  • Increasing focus on lightweighting vehicle
  • Stringent emission regulations
  • Growing preference for use of eco friendly materials in automotive industry

Opportunities:

  • To increase the efficiency of wind Turbine
  • Strengthening infrastructure and Structure against earthquake
  • Lightweighting in vehicle
  • Enhancing fuel efficiency and reduce emission

Enhancing fuel efficiency and reduce emission

Traditionally, automakers used materials like iron, aluminum, and steel to make their cars. However, these materials had a number of drawbacks, such as being corrosive or lacking in strength. Additionally, these materials were heavier, which made the vehicle heavier. Furthermore, as weight increased, fuel efficiency decreased, resulting in higher fuel consumption and higher emissions that affected the environment over time. To address these issues, automakers conducted research and developed a solution: carbon fiber. Carbon fiber is lightweight, strong, and resistant to corrosion. Today, manufacturers use this material to make cars, using it for the chassis, structural components, bonnets, and dashboards. this thing helps them so they achieved the reduction in weight and also reduced the emission.

Europe dominates the market for Automotive Carbon thermoplastic Market

Europe stands out as the dominating region in the global Automotive Carbon Thermoplastic Market, with the United States leading in consumption and market share. As the European country strict law and regulation regarding environment, people are investing more money for production of carbon fibre thermoplastic for application of automotive industry, Europe hold near thirty nine percent of automotive carbon thermoplastic market, also people adopting electric vehicle as sustainable option and in 2021 sales of the electric cars doubled according to the wall street journals.

The interior Segments is anticipated to hold the Largest Market Share during the Forecast Period

In the global Automotive Carbon Thermoplastic Market, Luxury automobile manufacturers have included CFRP composites for seat backs, headliners, parcel trays, consoles, and other interior pieces. Tier I and Tier II automotive suppliers are continuing to develop technology for including CFRP composites into interior trim, often in collaboration with carbon fiber producers. Car interior trim laminate is a natural offshoot of CFRP material with an exceptional strength-to-weight ratio that is now used in sports and luxury vehicles. Other common carbon fiber automotive interior parts include consoles, knobs, steering wheels, and door sills.

Segmentations Analysis of Automotive Carbon Thermoplastic Market: -

  • By Material Type
    • Polyether ether ketone
    • Polyetherimide
    • Polyamide
    • Polypropylene
    • Polyphenylene sulphide
    • Polycarbonate
    • Others
  • By Application
    •  interior
    •  Exterior
    • Chassis
    • Structural Components
    • Bicycle bodies
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Russia
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • South Korea
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of Middle East & Africa

Recent Developments

  • In 2024, In the outcome of the Japan Airbus 350 crash, composite construction saves fuel and lives. According to experts, the carbon-fiber-reinforced composite-intensive structure held up admirably to a collision-caused fire, allowing all 379 passengers and crew to evacuate via a single evacuation ramp.
  • In 2023, Solvay and Airborne got funding for a composite alternative to metal battery enclosures. Jaguar Land Rover and Vertical Aerospace both wrote letters of support for Solvay's relationship with Airborne, a technical leader in advanced composites manufacturing through automation and digitalization. They see significant promise in the construction of more compact and lightweight casings for high-energy batteries in future electric cars and aircraft, and they are intrigued by the project's environmental goal of reusing composite waste.

Automotive Carbon Thermoplastic Market Report Gives Answers to Following Key Questions:

  • What will be the Automotive Carbon Thermoplastic Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of Automotive Carbon Thermoplastic Market?
  • What are the main forces behind the worldwide Automotive Carbon Thermoplastic Market? Which companies dominate the Automotive Carbon Thermoplastic Market?
  • Which companies dominate the Automotive Carbon Thermoplastic Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the global Automotive Carbon Thermoplastic industry's suppliers' opportunities and dangers in Automotive Carbon Thermoplastic Market?
  • What is the Automotive Carbon Thermoplastic industry's regional sales, income, and pricing analysis? In the Automotive Carbon Thermoplastic Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Automotive Carbon Thermoplastic Market?
  • What are the main geographical areas for various industries that are anticipated to observe an astounding expansion in Automotive Carbon Thermoplastic Market?
  • What are the dominant revenue-generating regions for Automotive Carbon Thermoplastic Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main Automotive Carbon Thermoplastic Market trends that are influencing the market's expansion?
  • Which key product categories dominate the Automotive Carbon Thermoplastic Market? What are the Automotive Carbon Thermoplastic Market’s main applications?
  • In the coming years, which Automotive Carbon Thermoplastic Market technology will dominate the market?

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Methodology:

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Covered Key Topics

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Market Growth Drivers

Leading Market Players

Company Market Share

Market Size and Growth Rate

Market Trend and Technological

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