Automotive Carbon Thermoplastic Market is Forecasted to Reach US$ 983 Million in 2028, Says Stratview Research

The global automotive carbon thermoplastic market is projected to witness a growth rate of 13.5% annually from 2023 to 2028 with an anticipated size of US$ 983 million by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global automotive carbon thermoplastic market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

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Report Highlights:
Market Size in 2028: US$ 983 million
Growth (CAGR): 13.5% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Automotive Carbon Thermoplastic Market:

The global automotive carbon thermoplastic market is segmented based on resin type, application type, and region.

Based on resin type - The automotive carbon thermoplastic market is segmented into PA, PEEK, PPS, PC, PP, Others. PA Resin is forecasted to emerge as the foremost and most rapidly expanding category in the market during the forecast period. PA Resins mainly consist of manmade synthetic fibers such as Exterior, nylon, Chassis or viscose, and Powertrain & UTH-all engineered to exhibit certain properties. CF/PA composites find application in automotive air intake manifolds, traditionally fabricated from metals. By replacing metals with nylon, the weight of these components can be reduced by as much as 60%, leading to cost savings through integrated part design and enhancing fuel efficiency.

Based on application type - The automotive carbon thermoplastic market is segmented into Exterior, Interior, Chassis, Powertrain & UTH. The interior application segment is anticipated to demonstrate the most rapid growth during the forecast period driven by increasing consumer preference. Luxury Automobile manufacturers have adopted CFRP composites extensively for various interior components such as seat backs, headliners, package trays, dashboards, and other trim elements. Advanced technologies aimed at integrating CFRP composites into interior trims are continuously evolving, led by tier I and tier II automotive suppliers collaborating closely with carbon fiber producers. The utilization of CFRP material in car interior trim, particularly in sports and luxury vehicles, is a logical progression owing to its remarkable strength-to-weight ratio. Carbon fiber is prominently featured in the construction of consoles, knobs steering wheels, and door sills, underscoring its popularity in high-end automotive interiors.

To know the most attractive segments, click here:
https://stratviewresearch.com/3911/automotive-carbon-thermoplastic-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that European region is forecasted to exhibit the most accelerated expansion in the market for automotive carbon thermoplastic in the mentioned period. This growth outlook is majorly attributed to the following-

• Europe ranks as the second-largest market for automotive carbon thermoplastics, driven significantly by established automobile manufacturers, industrial growth, and advancements in automotive technology.
• The European automotive sector holds a prominent position within the region, bolstered by its robust presence of established automakers, surpassing other global regions in strength.
• The European Union Commission has mandated an elevation of the EU's greenhouse gas reduction target for 2030, increasing it from a 40% reduction in CO? emissions to a target range of 50% to 55%.
• Stringent requirements for enhanced fuel efficiency have compelled the adoption of automotive carbon thermoplastic composites across the region, underscoring their rising prominence in the industry.

Automotive Carbon Thermoplastic Market Drivers:

Some of the key drivers listed in the report are given below.

• Emerging markets and growing demands for lightweight, inexpensive, and rugged materials for automobiles

Top Companies in the Automotive Carbon Thermoplastic Market:

Stratview Research has identified the following companies as the top market players.
• BASF SE (Germany)
• Solvay (Belgium)
• Avient Corporation (USA)
• Celanese Corporation (US)
• Toray Industries, Inc. (Japan)
• Tejin Ltd. (Japan)
• Mitsubishi Chemical Group Corporation (Japan)
• SGL Carbon (Germany)
• Asahi Kasei Corporation (Japan)
• CompLam Material Co., Ltd. (Taiwan)
• Ensigner (Germany)

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Automotive Carbon Thermoplastic Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

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Related Reports:
• Aerospace Thermoplastics Market: https://stratviewresearch.com/686/aerospace-thermoplastics-market.html
• High-Performance Thermoplastic Composites: https://stratviewresearch.com/542/high-performance-thermoplastic-composites-market.html

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.

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This release was published on openPR.