Global Automotive Carbon Thermoplastic Market

MARKET SCOPE:

The global Automotive Carbon Thermoplastic market is projected to grow significantly, registering a CAGR of 19.1% during the forecast period (2024 – 2032).

Automotive Carbon Thermoplastics refer to advanced materials used in the automotive industry that combine carbon fiber reinforcement with thermoplastic resin matrices. These materials offer a unique blend of high strength, low weight, and design flexibility. Carbon fiber provides excellent tensile strength and stiffness, while the thermoplastic matrix allows for molding and reshaping at elevated temperatures, enabling complex designs and efficient manufacturing processes. Automotive manufacturers are increasingly focused on reducing the weight of vehicles to enhance fuel efficiency and reduce emissions. Carbon thermoplastics, being lightweight yet strong, are in demand to achieve weight reduction without compromising structural integrity. Stringent regulations and consumer demand for environmentally friendly vehicles drive the adoption of lightweight materials. Automotive Carbon Thermoplastics contribute to improving fuel efficiency and reducing emissions, aligning with global sustainability goals. The rise of electric and hybrid vehicles amplifies the demand for lightweight materials. Carbon thermoplastics are well-suited for these applications, contributing to range optimization, battery efficiency, and overall performance in electric and hybrid vehicles.

MARKET OVERVIEW:

Driver: Increasing demand for electric and hybrid vehicles is driving the market growth.

Lightweight materials are critical for electric vehicles as they help optimize energy consumption, extend the vehicle's range per charge, and improve overall efficiency. Carbon thermoplastics contribute to reducing the overall weight of EVs, enhancing their ability to cover longer distances on a single charge. EVs rely on large and heavy battery packs for energy storage. The use of lightweight materials in non-structural components, such as body panels, reduces the overall weight of the vehicle, indirectly improving the efficiency and performance of the battery system. Carbon thermoplastics offer a high strength-to-weight ratio, providing structural strength without adding excessive weight. This contributes to improved acceleration, handling, and overall performance of electric and hybrid vehicles. Lightweight materials can positively impact the energy regeneration capabilities of electric and hybrid vehicles. By reducing the vehicle's mass, regenerative braking systems become more effective in converting kinetic energy back into electrical energy, contributing to improved energy efficiency.

Opportunities: Growing need for lightweighting trends is anticipated for the market growth in the upcoming years.

Lightweight materials, such as carbon thermoplastics, play a key role in achieving fuel efficiency targets and reducing vehicle emissions. The automotive industry's commitment to environmental sustainability and meeting regulatory standards drives the adoption of lightweight components. Carbon fiber-reinforced thermoplastics offer high strength-to-weight ratios, contributing to improved overall vehicle performance. Enhanced strength and stiffness properties allow for the design of structurally efficient components, leading to better handling, acceleration, and braking performance. The rise of electric and hybrid vehicles increases the significance of lightweight materials. Carbon thermoplastics help offset the weight of batteries in electric vehicles, extending their range and optimizing energy efficiency. This makes them particularly relevant in the evolving landscape of alternative powertrains. Thermoplastics, including those reinforced with carbon fiber, provide greater design flexibility compared to traditional materials. This allows automakers to create innovative and complex shapes, optimizing both form and function in vehicle design.

COVID IMPACT:

The automotive industry faced significant disruptions in supply chains due to factory closures, restrictions on movement, and delays in production. This may have affected the availability of materials, including carbon thermoplastics. Many automotive manufacturers experienced slowdowns or temporary shutdowns of production facilities to comply with health and safety measures. This could have impacted the integration of advanced materials, such as Automotive Carbon Thermoplastics, into vehicle components. The pandemic prompted changes in consumer behavior and preferences. Economic uncertainties and shifts in priorities may have influenced demand for certain vehicle types and features, potentially affecting the adoption of advanced materials in automotive interiors. There was an increased emphasis on health and safety features within vehicles. While this may have primarily affected features related to air quality and touch surfaces, it could indirectly impact the selection of materials in vehicle interiors.

SEGMENTATION ANALYSIS:

Polyether ether ketone segment is anticipated to grow significantly during the forecast period

PEEK is a high-performance thermoplastic polymer known for its excellent mechanical and thermal properties. It is often used in various industries, including automotive, due to its high heat resistance, chemical resistance, and mechanical strength. Automotive Carbon Thermoplastics typically refer to materials that combine carbon fiber reinforcement with thermoplastic matrices. This combination results in lightweight, high-strength materials with excellent molding capabilities. These materials find applications in various parts of a vehicle, including the exterior and interior. Carbon thermoplastics are utilized in the manufacturing of structural components such as body panels, chassis parts, and reinforcements. Their high strength and low weight contribute to improved fuel efficiency. As mentioned earlier, carbon thermoplastics can be used in the interior segment for components like panels, trims, and seat structures, offering a balance of strength, lightweight construction, and aesthetic appeal. Carbon thermoplastics can replace traditional materials in exterior panels, contributing to weight reduction and increased design flexibility.

Interior segment is anticipated to grow significantly during the forecast period

Carbon fiber-reinforced thermoplastics are known for their high strength-to-weight ratio. When used in interior components such as panels, trims, and seat structures, they contribute to overall weight reduction in vehicles. This is crucial for improving fuel efficiency and reducing emissions. Carbon fiber composites have a distinctive and premium appearance. Integrating automotive carbon thermoplastics in interior elements adds a touch of sophistication and modernity, enhancing the overall aesthetics of the vehicle's cabin. Thermoplastics can be molded into complex shapes with relative ease, allowing for greater design flexibility. Automakers can leverage this flexibility to create unique and customized interior components that meet both functional and aesthetic requirements. Carbon fiber reinforcement imparts excellent durability and resistance to wear and tear. Interior components made with carbon thermoplastics are likely to withstand daily usage, ensuring longevity and reducing the need for frequent replacements.

REGIONAL ANALYSIS:

The Asia Pacific region is set to witness significant growth during the forecast period.

The automotive industry in the Asia Pacific region, like many other regions, is increasingly focused on lightweighting to enhance fuel efficiency and reduce emissions. Carbon thermoplastics offer a lightweight alternative to traditional materials, contributing to improved fuel economy. Asia Pacific countries, particularly those with significant automotive manufacturing industries, have been investing in material innovation. Carbon thermoplastics, being a composite material, provide a balance between strength and weight, making them suitable for various automotive components. The Asia Pacific region has been witnessing a growing demand for electric vehicles (EVs). Carbon thermoplastics can play a role in the manufacturing of components for EVs, contributing to the overall goal of reducing vehicle weight and extending the range of electric vehicles. Stringent emission standards and government regulations related to fuel efficiency and environmental impact drive the adoption of advanced materials in the automotive sector. Carbon thermoplastics align with these regulations by offering a lightweight solution that contributes to lower emissions.

COMPETITIVE ANALYSIS

The global Automotive Carbon Thermoplastic market is reasonably competitive with mergers, acquisitions, and Material Type launches. See some of the major key players in the market.

Cytec Solvay

In 2021, The successful closure of Solvay's previously disclosed acquisition of Bayer's global coatings business, which includes tolling operations in the United States and Brazil and facilities in Méréville, France, was announced by both companies. The company is well-known across the world for its research and development skills for on-seed formulations, as well as for its seed coating and seed enhancement products, which include Peridiam, fluency powders, Certop, Pro-Ized Pigment, and Talkum.

TORAY INDUSTRIES, INC.

In 2019, The Japanese maker of advanced materials, Toray Industries, Inc., publicly announced that TenCate Advanced Composites, our subsidiary, will now be known as Toray Advanced Composites. Subsequently, TenCate Advanced Composites' subsidiary TenCate Performance Composites would become Toray PMC.

BASF SE

PlastiComp, Inc.

DowAksa

SGL Group

TEIJIN LIMITED

Hexcel Corporation

Arkema S.A.

Mitsubishi Chemical Holdings Corporation

Covestro AG

Plasan Carbon Composite

SCOPE OF THE REPORT

By Material Type

Polyether ether ketone

Polyetherimide

Polyamide

Polypropylene

Polyphenylene Sulphide

Polycarbonate

Medical and Healthcare

Others

By End - Use

Interior

Exterior

Chassis

Structural Components

Bicycle Bodies

Others

By Region

North America (the United States & Canada)

Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)

Asia Pacific (China, Japan, India, and Rest of Asia Pacific)

Rest of the World (the Middle East & Africa, and Latin America)

KEY REASONS TO PURCHASE THIS REPORT

It provides a technological development map over time to understand the industry’s growth rate and indicates how the Automotive Carbon Thermoplastic market is evolving.

The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Automotive Carbon Thermoplastic submarket will be the main driver of the overall market from 2024 to 2032.

It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.

It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032. Show more