Global Automotive Carbon Thermoplastic (PA, PEEK, PPS, PC, PP) Industry Report 2023-2028: Opportunities Emerging with OEMs Looking for Complete Solution from Suppliers
The “Global 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) – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global 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%
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
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.
Competitive landscape
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.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 247 |
| Forecast Period | 2023 – 2028 |
| Estimated Market Value (USD) in 2023 | $522 Million |
| Forecasted Market Value (USD) by 2028 | $983 Million |
| Compound Annual Growth Rate | 13.5% |
| Regions Covered | Global |
Premium Insights
- Increasing Adoption of CFRP to Drive Automotive Carbon Thermoplastic Market Between 2023 and 2028
- Exterior Application and Asia-Pacific Region LED Market in 2022
- PA Segment LED Market in 2022
- China to be Fastest-Growing Market During Forecast Period
Market Dynamics
Drivers
- Increase in Demand for Fuel-Efficient Vehicles to Reduce Carbon Emissions and GHGs
- Reduced Weight and Parts Consolidation
- Joint Ventures of OEMs and Carbon Fiber Suppliers
Restraints
- High Cost of Carbon Fiber
- Stiff Competition from Thermoset Composites
Opportunities
- Emission Regulations Encouraging OEMs to Shift Focus to Carbon Fiber Composites
- Reduced Cycle Time of Manufacturing Process
- OEMs Looking for Complete Solution from Suppliers
- High-Volume Production of Structural Automotive Components
Challenges
- Need for Low-Cost Technologies
- Production of Low-Cost Carbon Fiber
- Recyclability of Composite Components
Company Profiles
Key Players
- Solvay
- Toray Industries, Inc.
- Teijin Limited
- SGL Carbon
- Mitsubishi Chemical Group Corporation
- BASF SE
- Avient Corporation
- Celanese Corporation
- Asahi Kasei Corporation
- Complam Material Co. Ltd.
- Ensinger
- Jiangsu Qiyi Technology Co. Ltd.
Other Players
- Qingdao CIMC Composites Co. Ltd.
- Xiamen LFT Composite Plastic Co. Ltd.
- Okutani Ltd.
- Ctech-LLC
- Fibrtec
- Lingol Corporation
- Shanghai Wanhoo Carbon Fiber Industry Co. Ltd.
- GPM Composite Technology (Kunshan) Co. Ltd.
- Hebei Chaoke Import & Export Co. Ltd.
- Suzhou Topo New Material Co. Ltd.
- Hebei Benjinxin Industrial Co. Ltd.
- Jiangsu Aimi Tech Co. Ltd.
- Kingfa Science and Technology Co. Ltd.
