Automotive Thermoplastic Polymer Composite Market Top Players - American Express, Bank of America Corporation, Barclays PLC, Capital One, Citigroup Inc., JPMorgan Chase & Co.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Automotive Thermoplastic Polymer Composite Market Size, Share & Trends Analysis Report By Application (Exterior Body Parts, Interior Components, Structural Components, Automated Parts, Under-the-Hood Applications), Type (Polyamide, Polypropylene, Polycarbonate, Acrylonitrile Butadiene Styrene, Thermoplastic Polyurethane), End User (Passenger Vehicles, Commercial Vehicles, Electric Vehicles, Hybrid Vehicles, Luxury Vehicles), Manufacturing Process (Injection Molding, Compression Molding, Blow Molding, Thermoforming, 3D Printing)- Market Outlook And Industry Analysis 2031"

The Global Automotive Thermoplastic Polymer Composite Market is valued at US$ 8.53 Bn in 2023, and it is expected to reach US$ 12.65 Bn by 2031, with a CAGR of 5.2% during the forecast period of 2024-2031.

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The automotive thermoplastic polymer composite segment is critical, as it demands lightweight yet durable and sustainable materials; therefore, composite production is by blending polymer reinforcement fibers such as glass, carbon, and aramid to produce more advanced materials that address vehicle component performance and have significant environmental benefits. Their applications are diversified, ranging from exterior body parts, such as bumpers and fenders, for impacts and lightweight to interior parts, like dashboards and door panels, for durability and design flexibility, structural parts for the essential strength and rigidity, and under-the-hood parts like intake manifolds and engine covers that can withstand the high temperature and harsh conditions.

The thermoplastic polymer composite is of relevance to automobiles because of the potential to fulfill emerging needs in the automobile sector, mainly to reduce the emission levels. In this regard, reduction of vehicles' weight also reduces fuel consumption and emissions of carbon dioxide besides forming the most important criteria through which stringent rules from the side of the environment are met. In addition, the fact of recyclability became the major positive aspect because now it became clear that sustainability becomes guiding principle for all industry members. The demand for recycled material vehicles is sure to increase further as consumers become more environmentally conscious, which highlights the increasing use of thermoplastic composites in automotive manufacturing.

List of Prominent Players in the Automotive Thermoplastic Polymer Composite Market:
• Covestro
• DuPont
• Teijin
• Kraton Corporation
• BASF
• Lanxess
• SABIC
• Solvay
• TenCate
• Eastman Chemical Company
• Continental
• LG Chem
• PolyOne
• Forgeway
• Mitsubishi Chemical
• Reliance Industries Limited
• Advanced Composites Pvt Ltd
• SGL Carbon India Pvt Ltd
• Tata AutoComp Systems Ltd
• SABIC Innovative Plastics India Pvt Ltd

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Market Dynamics:
Drivers-
The demand for automotive thermoplastic polymer composites is witnessing rapid growth, with estimated gains of 6%-8% in fuel economy loss per 10% weight reduction, also coupled with growing demand for lightweight materials to reduce vehicle emissions. It is also driven by the increasing thrust toward electric vehicles, where such composites allow for longer battery range and overall better performance. This pressure for lower emissions propels the auto industry toward recyclable materials, such as thermoplastic composites, because it shares a common goal with global sustainability goals. Moreover, advances in manufacturing technology, in combination with decreasing material costs, have made thermoplastic composites easier to access, cheaper, and scalable enough to be widely adopted by industry, which is beginning to focus on more eco-friendly and recyclable materials.

Challenges:
The automotive thermoplastic polymer composite market faces several challenges, including high raw material costs for components like carbon fiber, which deter mass-market adoption. Production scalability is limited by labor-intensive traditional manufacturing methods, complicating high-volume output. Additionally, a lack of material standardization hinders selection and testing processes, while durability issues like moisture absorption and degradation raise concerns about long-term performance and reliability.

Regional Trends:
Europe is the biggest market for automotive thermoplastic polymer composite, owing to its high concentration of the automotive sector with the automobile companies like Volkswagen, BMW, and Mercedes-Benz, that challenge competition and drive innovation in the production of advanced materials. Substantial investment in research and development has enhanced the characteristics of thermoplastic composites, making it appealing for use in the automotive sector. Programs like the Institute for Advanced Composites Manufacturing Innovation contribute to standardizing and advancing the technology. In addition, this demand for lightweighting materials in electric vehicles is being triggered by the increased use of electric vehicles in the region, since companies such as BMW Group, Daimler AG, and Volkswagen Group pursue sustainability while improving battery performance and vehicle performance to meet consumer expectations and regulatory requirements.

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Recent Developments:
• In October 2023, Kraton Performance Polymers, Inc. announced the development of a new SBC-based alternative for slush molded interior soft skins. Traditionally, slush molding processes have used polyvinyl chloride (PVC) compounds to create interior surfaces for automobiles, including instrument panel skins, door panels, airbags, and consoles.
• In Sep 2023, Teijin has partnered with Germany's herone GmbH and the UK's Envision Racing to develop a composite wishbone for Formula E racing cars using Tenax™ ThermoPlastics. This collaboration combines cutting-edge materials and advanced manufacturing techniques, demonstrating how innovative partnerships can foster sustainable solutions for the future.

Segmentation of Automotive Thermoplastic Polymer Composite Market-
By Application:
• Exterior Body Parts
• Interior Components
• Structural Components
• Automated Parts
• Under-the-Hood Applications
By Type:
• Polyamide
• Polypropylene
• Polycarbonate
• Acrylonitrile Butadiene Styrene
• Thermoplastic Polyurethane
By End User:
• Passenger Vehicles
• Commercial Vehicles
• Electric Vehicles
• Hybrid Vehicles
• Luxury Vehicles
By Manufacturing Process:
• Injection Molding
• Compression Molding
• Blow Molding
• Thermoforming
• 3D Printing
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.