Automotive Carbon Thermoplastic Market by Resin Type (PA, PEEK, PPS, PC, PP), Application (Exterior, Interior, Chassis, Powertrain & UTH), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028

Automotive Carbon Thermoplastic Market by Resin Type (PA, PEEK, PPS, PC, PP), Application (Exterior, Interior, Chassis, Powertrain & UTH), and Region (North America, Europe, APAC, Latin America, MEA) - Global Forecast to 2028

The automotive carbon thermoplastic market is projected to grow from USD 522 million in 2023 to USD 983 million by 2028, at a CAGR of 13.5% during the forecast period. Engine covers, rocker valves, airbag containers, and automotive pedals are some other applications of carbon fiber reinforced polyamide composites. CF/PA also is being deployed in exterior and interior automotive parts. These include door modules, body-in white components, steering wheel components, seat structures, exterior mirrors, front-end grilles, and trim.

‘‘In terms of value, chassis application accounted for the third-largest share of the overall automotive carbon thermoplastic market.’’

Automakers today readily acknowledge that CFRP is an ideal means to reduce vehicle mass without sacrificing occupant safety or driving performance as OEMs seek to meet more stringent U.S. fuel economy standards and significantly more difficult European tailpipe emission limits. But the high cost of carbon fiber, the time and expense of autoclave processing and lack of predictive-engineering tools have kept away all but a handful of supercar and high-end sports car builders. Today, most of the racing car chassis, monocoque, wheels, suspension, wings, and engine cover, are built with CFRP composites.

“During the forecast period, the automotive carbon thermoplastic market in Asia Pacific region is projected to register highest CAGR.”

Asia Pacific is projected to dominate the automotive carbon thermoplastic market, particularly with regard to electric vehicle production. The market in this region has undergone a significant transformation due to the domestic presence of well-established raw material suppliers, composite product and component manufacturers, and OEMs. The ecosystems of these adjacent industries are more likely to act in favor of the growth of the automotive carbon thermoplastic market. Rapid economic growth of Asian countries, growing industrialization and urbanization, increasing per capita income, and rising consumer power have raised the demand for advanced technology, fueling the growth of the automotive carbon thermoplastic market.

This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:

By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%

By Designation- C Level- 50%, Directors- 30%, and Executives- 20%

By Region- North America- 15%, Europe- 50%, Asia Pacific - 20%, Latin America-5%, Middle East & Africa -10%.

The report provides a comprehensive analysis of company profiles:

Prominent companies include BASF SE (Germany), Solvay (Belgium), Avient Corporation (US), Celanese Corporation (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), SGL Carbon (Germany), Asahi Kasei Corporation (Japan), CompLam Material Co., Ltd. (Taiwan), Ensinger (Germany), and Jiangsu QIYI Technology Co., Ltd. (China), among others.

Research Coverage

This research report categorizes the automotive carbon thermoplastic Market by Resin Type (PA, PEEK, PPS, PC, PP, and Others), Application (Exterior, Interior, Chassis, Powertrain & UTH), and Region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the automotive carbon thermoplastic market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the automotive carbon thermoplastic market are all covered. This report includes a competitive analysis of upcoming startups in the automotive carbon thermoplastic market ecosystem.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall automotive carbon thermoplastic market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Increase in demand of fuel efficient vehicles, Increasing use of automotive carbon thermoplastic in interior & exterior applications, New technological advancements,), restraints (high carbon fiber and production cost, stiff competition from thermoset composites), opportunities (Changing focus of automotive OEMs towards CFRTP), and challenges (Need for low cost technologies, Capital-intensive manufacturing process of carbon fiber) influencing the growth of the automotive carbon thermoplastic market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the automotive carbon thermoplastic market

Market Development: Comprehensive information about lucrative markets – the report analyses the automotive carbon thermoplastic market across varied

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the automotive carbon thermoplastic market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like BASF SE (Germany), Solvay (Belgium), Avient Corporation (US), Celanese Corporation (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), SGL Carbon (Germany), Asahi Kasei Corporation (Japan), among others in the automotive carbon thermoplastic market