Global Carbon Thermoplastics Market in Automotive: Overview
Carbon thermoplastics in the automotive sector is extensively preferred owing to properties such as design flexibility, lightweight, durability, and uniform surface. It helps to reduce vibrations, noise, and weight, engine covers, make single-piece clutch cylinders, gear-lever housing, accelerator and parking brake pedals, air intake manifolds, shift control cables, and fuel system and cooling system components. Carbon thermoplastics are most useful in enhancing fuel efficiency, and reducing vehicle weight. Carbon thermoplastics are also used in roof, body-in-white, trunk-lid or deck-lid, doors, hood, fenders, and others.
Global Carbon Thermoplastics Market in Automotive: Growth Factors
Changing consumer preferences for carbon thermoplastics in automotive may drive the global carbon thermoplastics market in automotive in the near future. Increasing disposal income of the middle-class people also influences the global market in a positive way. In addition, rising standard of living is projected to propel the global carbon thermoplastics market in automotive in future. Moreover, the higher spending power of the people in the automotive sector is expected to drive the carbon thermoplastics market in automotive. Conversely, the huge rise in the prices of the material may restrain the growth of the high-end car's production in carbon thermoplastics market in automotive.
Global Carbon Thermoplastics Market in Automotive: Segmentation
The global market is segmented on the basis of application as the exterior, interior, powertrain & UTH, and Chassis. Of these, the exterior application is the leading segment in the global market. Powertrain & UTH is another growing application segment at the fastest rate. Exterior application segment is further sub-segmented as front-end, hood, body-in-white, fenders, roof, deck lid, door, and others. However, interior applications are sub-fragmented as seating, dashboard, and others. Moreover, chassis application segment is sub-classified as suspensions, wheels, and others. Based on resin type, the global market is bifurcated as polycarbonate (PC), polyphenylene sulfide (PPS), polyether ether ketone (PEEK), polyamide (PA), polyetherimide (PEI), and polypropylene (PP).
Global Carbon Thermoplastics Market in Automotive: Regional Analysis
Asia Pacific holds the largest market share in the global carbon thermoplastics market in automotive. Owing to growth in the automotive industry and stable economic growth, the global market is anticipated to boost in future. However, developing infrastructure and auto components industry in this region is expected to fuel global carbon thermoplastics market in automotive in coming years. Asia Pacific has become global sourcing hub for automotive industries.
Global Carbon Thermoplastics Market in Automotive: Competitive Players
Some of the major players in the global carbon thermoplastics market in automotive are Toray Industries Inc., BASF SE, Saudi Basic Industries Corporation, Celanese Corporation, SGL Group, and Gurit Holding Ag. Other key players in the global market are Teijin Ltd., Cytec Solvay, the Dow Chemical Company, Quickstep Holdings Limited, and Tencate.
Global Carbon Thermoplastics Market in Automotive: Regional Segment Analysis
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