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

"PA resin of automotive carbon thermoplastic market accounted for highest market share."

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.''

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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.

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