Automotive Carbon Thermoplastic Market Size, Share, Growth, Trends, and Global Industry Analysis: By Resin Type (Polyamide Polypropylene, Polyphenylene Sulphide, Polyetherimide, Polyether Ether Ketone, Polycarbonate, and Others), By Application (Exterior, Interior, Chassis, Powertrain and Under the Hood, and Others), and Region

Automotive Carbon Thermoplastic Market size was valued at US$ 612.3 million in 2023 and projected to reach US$ 1,231.7 million by 2030. poised to grow at 11.9% CAGR from 2024 - 2030. The market is driven by several key factors which are the demand for lightweight vehicles, the growing electric vehicle market, and stringent environmental legislation. The automotive industry is constantly striving to reduce vehicle weight to improve fuel efficiency and meet stricter emission regulations. Carbon thermoplastics, with their high strength-to-weight ratio, are a perfect solution for achieving this goal. Electric vehicles (EVs) require lightweight materials to maximize battery range. Carbon thermoplastics offer a significant weight reduction compared to traditional materials like steel, making them ideal for EV components. Governments worldwide are implementing stricter regulations to reduce carbon emissions from vehicles. Automotive carbon thermoplastics can help manufacturers comply with these regulations by reducing vehicle weight and fuel consumption. Carbon fiber, a key component of carbon thermoplastics, is a relatively expensive material. This can make the overall cost of producing parts with carbon thermoplastics higher compared to traditional materials.

The production capacity of carbon thermoplastics is currently lower compared to traditional materials. This can limit the widespread adoption of these materials in the automotive industry. Manufacturing with carbon thermoplastics can be more complex compared to traditional materials. This requires additional investment in tooling and expertise from manufacturers. Technological advancements, increased adoption of luxury and performance cars, and growing demand from emerging markets are the opportunities in the market. Increased use of recycled carbon fiber, development of bio-based resins, and focus on automation and standardization are the trends in the market. Overall, the market is expected to witness significant growth in the coming years, driven by the demand for lightweight vehicles, stricter environmental regulations, and technological advancements. However, addressing the challenges related to cost, production capacity, and complex manufacturing processes will be crucial for the wider adoption of these materials in the automotive industry.

Automotive Carbon Thermoplastic Market Key Developments

• In Oct 2023 - Toray Industries has made a significant breakthrough by developing TORAYCA™ T1200, an ultra-high-strength carbon fiber with a tensile strength of up to 1,160 Ksi—more than 10% higher than the previously highest strength fiber, TORAYCA™ T1100.
• In June 2023 - Avient Corporation and BASF have joined forces to introduce colored grades of Ultrason® high-performance polymers to the global market. These colored grades are crafted by combining BASF’s Ultrason® polyarylethersulfones (PAES) as a top-notch base polymer with Avient’s Colorant Chromatics™ high-temperature color formulation expertise. The result is a range of products that include color concentrates and pre-colored solutions. This collaboration aims to enhance the versatility and visual appeal of these high-performance polymers for various applications.