Global Automotive Carbon Thermoplastic Market to See Massive Growth by 2028

The global automotive carbon thermoplastic market is anticipated to grow at a CAGR of 26.8% during the forecast period (2022-2028). The carbon thermoplastic material will aid in enhancing load capacity and hence fuel efficiency. In the automotive industry, it also helps to absorb vibrations and noises. The global automotive carbon thermoplastic market is likely to benefit from rising demand for low-lightweight automobiles in order to fulfill severe fuel economy regulations. The growing population in emerging countries would raise public enthusiasm for purchasing more vehicles, boosting total market demand for automotive carbon thermoplastic over the predicted period.

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Polyamide (PA) has the greatest share of the automotive carbon thermoplastic market since it is primarily utilized in the automotive industry. The need for PA in the automotive industry has increased due to mechanical features such as high tensile strength, high flexibility, good resilience, low creep, and high impact strength (toughness). They are simple to dye and have a low coefficient of friction, which means they are resistant to wear (self-lubricating). PA has high melting and glass transition temperatures, that means they have good mechanical qualities at high temperatures. The use of PA in the automobile industry has boosted the demand for automotive carbon thermoplastics.

The primary driver of the market for automotive carbon thermoplastic is interior automotive components such as sheets, round bars, blocks, and pipes. The automotive carbon thermoplastic industry is growing as the global middle class spends more money on automobiles. Carbon fibers lower vehicle weight without sacrificing vehicle durability, hence increasing R&D investments in new vehicles for light-weighted vehicles would drive this market.

The automotive carbon thermoplastic market is dominated by the Asia-pacific region dueto the huge territory acquired. Asia-Pacific has a very prominent role in the globe roadway network. AH1 is the longest Asian Highway Network route, stretching from Tokyo, Japan, via Korea, China, Southeast Asia, Bangladesh, India, Pakistan, Afghanistan, and Iran to the Turkish-Bulgarian border west of Istanbul, where it meets European route E80 end-to-end. Road networks have traditionally been created in response to rising vehicle numbers, and as the number of vehicles rises, the market for automotive carbon thermoplastic is rising. According to the annual report of the International Organization of Motor Vehicle Manufacturers (OICA), India, China, and Japan are among the top 20 countries in the globe for most automobiles made in 2018. China is ranked sixth, while India and Japan are ranked fourteenth and eighteenth, respectively. As a result, there is a tremendous potential for growth in the automotive carbon thermoplastic market in nations like these.

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Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- BASF SE, Celanese Corp., Solvay, DuPont, Gurit, among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Automotive Carbon Thermoplastic Market Report by Segment

By Type

PA
PPS
PP
PEI
PEEK
PC

By Application

Exterior
Interior
Chassis
Power train
UTH

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This release was published on openPR.