Luton, Bedfordshire, United Kingdom, March 17, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Automotive Carbon Thermoplastics Market.
The global Automotive Carbon Thermoplastics market was valued at 712.3 million in 2022, and is projected to reach 4386.02 million by 2029, growing at a CAGR of 29.65% from 2023 to 2029.
Automotive Carbon Thermoplastics Market Growth in upcoming years
A composite material made of carbon fibre and plastic is called automotive carbon thermoplastic. Modern materials like carbon fibre are 10 times more durable than steel while weighing only a fifth as much. To develop a one-of-a-kind product that can be used in the manufacture of durable and light-weight automotive parts, carbon fibre is combined with one or two polymers. The interior and outside of autos are designed using these thermoplastic materials.
The additional benefit of carbon thermoplastic for automotive applications is its strong resistance to deformation, alkaline corrosion, and acid corrosion. Over the past few years, increasing focus has been placed on its potential to help the automotive sector fulfil the requirement for energy savings and CO2 reduction.
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Which Factor Has Affect Automotive Carbon Thermoplastics Market Growth?
"Expensive Carbon Fiber"
Structures reinforced with carbon fibre are strong, lightweight, and load-bearing, and they are essential for lowering the weight of automobiles. However, one of the main obstacles for this market is the high cost of carbon fibre compared to other fibres (glass, natural) used in the development of various automobile components, as small auto part makers cannot afford to invest in expensive carbon fibres. Another obstacle is the hesitation of automakers to implement a system for the recycling or garbage disposal of carbon composite parts.
In order to reduce pollution main goal is increasing the number of electric and solar vehicles on the road.
The market for automotive carbon thermoplastic will expand as eco-friendlier vehicles become available. Tata Motors, for example, launched hybrid and electric Star buses from its manufacturing facility in Pune as part of its zero-emission mass transportation solution. Government regulations will so indirectly promote the automotive carbon thermoplastic market.
Covid-19 Impact
Covid-19 has harmed demand for thermoplastic composites in a variety of end-use industries, including aerospace and defence, transportation, wind energy, construction, consumer and electronics goods, and others. The disruption in the supply chain, which resulted in raw material delays or non-arrival, disrupted financial flows, and rising absenteeism among production line workers, has forced OEMs to operate at zero or partial capacity, resulting in lower demand for thermoplastic composites.
Competitive Insight
Some of the notable market players operating in the global Automotive Carbon Thermoplastics Market covered in this report are:
- Basf
- Cytec Solvay Group
- Plasticomp, Inc.
- Dowaksa
- Sgl Group
- Toray Industries, Inc.
- Teijin Limited
- Hexcel Corporation
- Arkema S.A.
- Mitsubishi Chemical Holdings Corporation
- Covestro Ag
- Plasan Carbon Composites *The Company List Is Indicative
Recent Developments
19 January 2023: Fujitsu Limited and Teijin Limited announced the start of a cooperative project to increase the environmental value of recycled materials used in the construction of bicycle frames from January to March 2023. E Bike Advanced Technologies GmbH and V Frames GmbH, both German producers and distributors of carbon fiber-reinforced plastic bicycle frames.
Solerial Matusions, a Swedish start-up, is creating a carbon fiber nanoparticle additive. The additive solution seeks to reduce the cost and weight of automotive structural components while providing greater protection.
Anand Group collaborated with Far-UK to produce carbon fiber composites in February 2021. The collaboration emphasized creating innovative methods to reduce emissions.
Browse the full “Automotive Carbon Thermoplastics Market By resin type (PA, PPS, PP, PEI, PEEK, PC), By application (Exterior, Interior, Chassis, Powertrain, UTH), and by Region, Global trends and forecast from 2023 to 2029” Report and TOC at https://exactitudeconsultancy.com/reports/12932/automotive-carbon-thermoplastics-market/
Segment Overview
The Automotive Carbon Thermoplastics market is segmented by Resin type, By Application, and by Region.
| By Resin type | By Application | By Region |
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Regional Insights
Asia pacific is expected to have the greatest rate of growth in the automotive carbon thermoplastic market.
Asia pacific have large area so due to the longest route, APAC dominated the Automotive Carbon Thermoplastic market. Whereas AH1 is the longest route of the Asian Highway Network, running from Tokyo, Japan through Korea, China, Southeast Asia, Bangladesh, India, Pakistan, Afghanistan, and Iran to the border between Turkey and Bulgaria west of Istanbul, where it connects end-to-end with European route E80. Roadway networks have always been built to accommodate an increase in the number of vehicles, and as the number of vehicles increases, so will the market for automotive carbon thermoplastic.
Quantitative Analysis
- Market size, estimates, and forecasts from 2023 - 2029
- Market size and revenue estimates for product up to 2029
- Market revenue estimates for application up to 2029
- Market revenue estimates for type up to 2029
- Regional market size and forecast up to 2029
- Company financial
What are the Key Data Covered in this Automotive Carbon Thermoplastics Market Report?
- CAGR of the market during the forecast period 2023-2029
- Detailed information on factors that will drive Automotive Carbon Thermoplastics Market growth during the next Six years
- Precise estimation of the Automotive Carbon Thermoplastics Market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behaviour.
- The growth of the Automotive Carbon Thermoplastics industry across North America, Europe, APAC, South America, the Middle East, and Africa
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of Automotive Carbon Thermoplastics Market vendors
To know an additional revised 2023 list of market players, request a sample report: https://exactitudeconsultancy.com/reports/12932/automotive-carbon-thermoplastics-market/#request-a-sample
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