Automotive Thermoplastic Polymer Composites Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 7.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Automotive Thermoplastic Polymer Composites Market Analysis
Automotive Thermoplastic Polymer Composite Market is expected to register a CAGR of 4%, during the forecast period.
- There has been rising interest toward thermoplastic polymer composites since the past few years, owing to several advantages of these materials, including high volume processability, recyclability, superior damage tolerance, and fracture toughness, and ability to produce complex shapes.
- These composites found applications in different modes of transportation, from cars to underground trains. Among thermoplastic composites, long-fiber thermoplastics (LFTs) are being extensively used in the transportation sector.
- The automotive industry was impacted due to high fuel prices. Furthermore, in the transportation industry, vehicle OEMs and suppliers use thermoplastic composites to reduce vehicle mass. Due to stringent emission regulations, automotive manufacturers are focusing on reducing the weigh of vehicle, as it helps in saving a noticeable amount of carbon dioxide emissions. A 10-kilogram weight reduction is estimated to reduce 1 gram of carbon dioxide per kilometer.
Automotive Thermoplastic Polymer Composites Market Trends
This section covers the major market trends shaping the Automotive Thermoplastic Polymer Composites Market according to our research experts:
Glass Mat Thermoplastic (GMT) is Expected to Grow with a Fast Pace
Glass mat thermoplastic sheets were first introduced in 1970. Considering the cost-related mechanical performance criteria, GMT composites are located between injection moldable, discontinues (long or short) glass-fiber-reinforced composites and advanced thermoplastic with various fiber architecture.
They offer various benefits, such as
- Design freedom: Production of complex parts by integrating several functions elements
- Low density.
- Easy Recycling
- High innovation potential, in terms of production and ecological demands.
- High productivity
Although GMTs are available in various polymer matrices is dominated by propylene-based composites, due to their low price. These are well capable of competing with other structure materials, primarily in conditions where temperature lesser than 110°C are maintained.
Glass mat thermoplastic composites are witnessing demand from the composite market. They are easy to use, with superior mechanical performance.
- Mercedes-Benz selected two grades of glass mat-reinforced thermoplastic material, which are supplied by the Swiss material producer, Quadrant Plastic Composites. These materials are used for manufacturing the innovative front-end module, which was designed for its S-class series luxury coupe. The new front-end module weighs only 3.4 kg, while the previous model used to weigh 5 kg.
Innovations and greater market penetration are expected to drive the demand for glass mat thermoplastic composites during the forecast period.
Transportation Sector to Drive the Market
The Corporate Average Fuel Economy (CAFÉ) standard forced manufacturers in the automobile industry to develop vehicle designs that incorporated high-performance light-weight materials. The weight of an automobile has a direct impact on driving dynamics, fuel consumption, and agility. A 10% reduction in vehicle weights results in approximately 5-7% rise in fuel savings
From 2020, the European Union will require every European vehicle manufacturer to achieve an emission level of 95g of carbon dioxide per km, from present-day emission level of 130g of carbon dioxide per km.
The rising focus on minimizing carbon emission and enhancement of fuel economy, primarily by reducing the weight of a vehicle, are driving the demand for thermoplastics composites.
Continuous fiber-reinforced thermoplastic composites (CFRTP) is one of the primary materials that can address the rising concerns regarding a vehicle's weight. In combination with metals, CFRTP composites will be a part of a multi-material approach when designing the car of the future. These materials are developed and assembled with recyclability and sustainability in mind. In addition, the automotive industry standards will serve to align methods for characterizing the performance of CFRTP composites.
The automotive industry is undergoing a major transformation. As companies explore various options to address the future needs, collaboration has proven to be an effective way to discover the new growth avenues, will leveraging risk. The preferred approach is collaboration with strategic players throughout the value chain.
- For instance, DuPont Transportation and Advanced Polymers choose to advance through collaborative networks, while actively participating in consortia, including IACMI (Institute for Advanced Composites Manufacturing Innovation) and AZL (Aachen Centre for Integrative Lightweight Production), where standardization is addressed, along with collaborative teams that are focusing on demonstrating the production methods of cost-effective CFRTP composites, especially for high-volume applications
In 2019, SABIC announced a new, cutting-edge technology for producing lightweight, cost-effective, and recyclable vehicle panels, primarily by using its UDMAX tape, a unidirectional, fiber-reinforced thermoplastic composite, at JEC World 2019. This innovative technology, which has designed to replace traditional panels made of metal and thermoset material for interior and exterior automotive applications, will soon be commercialized in the bulkhead of a light commercial vehicle (LCV), globally.
In the case of bulkhead, replacing a traditional metal component with the UDMAX tape lamination reduces the mass by 35% in the application. Lower weight can also make large bulkhead easier to handle, which could help in accelerating the assembly process of vehicles.
Automotive Thermoplastic Polymer Composites Industry Overview
The Automotive Thermoplastic Polymer Composites Market is consolidated with only a few companies dominating the market. Some of the major players in the market are 3B-Fiberglass, Base Group, BASF, BMW, Cytec Industries, Inc., amongst others.
Automotive Thermoplastic Polymer Composites Market Leaders
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3B-Fiberglass
-
Base Group
-
BASF
-
Gurit
-
Solvay
*Disclaimer: Major Players sorted in no particular order
Automotive Thermoplastic Polymer Composites Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Drivers
- 4.2 Market Restraints
-
4.3 Porters 5 Force Analysis
- 4.3.1 Threat of New Entrants
- 4.3.2 Bargaining Power of Buyers/Consumers
- 4.3.3 Bargaining Power of Suppliers
- 4.3.4 Threat of Substitute Products
- 4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
-
5.1 Production Type
- 5.1.1 Hand Layup
- 5.1.2 Resin Transfer Molding
- 5.1.3 Vaccum Infusion Processing
- 5.1.4 Injection Molding
- 5.1.5 Compression Molding
-
5.2 Application Type
- 5.2.1 Structural Assembly
- 5.2.2 Power Train Components
- 5.2.3 Interior
- 5.2.4 Exterior
- 5.2.5 Others
-
5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Rest of North America
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Spain
- 5.3.2.5 Rest of Europe
- 5.3.3 Asia Pacific
- 5.3.3.1 India
- 5.3.3.2 China
- 5.3.3.3 Japan
- 5.3.3.4 Rest of Asia-Pacific
- 5.3.4 Latin America
- 5.3.4.1 Mexico
- 5.3.4.2 Brazil
- 5.3.4.3 Argentina
- 5.3.5 Middle-East and Africa
- 5.3.5.1 United Arab Emirates
- 5.3.5.2 Saudi Arabia
- 5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Vendor Market Share
-
6.2 Company Profiles
- 6.2.1 3B-Fiberglass
- 6.2.2 Cytec Industries Inc.
- 6.2.3 Arkema Group
- 6.2.4 Celanese Corporation
- 6.2.5 Daicel Polymer Ltd
- 6.2.6 DuPont de Nemours
- 6.2.7 Hexcel Corporation
- 6.2.8 Technocompound GmbH
- 6.2.9 Polyone Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityAutomotive Thermoplastic Polymer Composites Industry Segmentation
Automotive Thermoplastic Polymer Composite Market is segmented By Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, Injection Molding, and Compression Molding), By Application Type (Structural Assembly, Power Train Components, Interior, Exterior and Others), and by Geography.
| Production Type | Hand Layup | |
| Resin Transfer Molding | ||
| Vaccum Infusion Processing | ||
| Injection Molding | ||
| Compression Molding | ||
| Application Type | Structural Assembly | |
| Power Train Components | ||
| Interior | ||
| Exterior | ||
| Others | ||
| Geography | North America | United States |
| Canada | ||
| Rest of North America | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia Pacific | India |
| China | ||
| Japan | ||
| Rest of Asia-Pacific | ||
| Geography | Latin America | Mexico |
| Brazil | ||
| Argentina | ||
| Geography | Middle-East and Africa | United Arab Emirates |
| Saudi Arabia | ||
| Rest of Middle-East and Africa |
Automotive Thermoplastic Polymer Composites Market Research FAQs
What is the current Automotive Thermoplastic Polymer Composites Market size?
The Automotive Thermoplastic Polymer Composites Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Automotive Thermoplastic Polymer Composites Market?
3B-Fiberglass , Base Group , BASF, Gurit and Solvay are the major companies operating in the Automotive Thermoplastic Polymer Composites Market.
Which is the fastest growing region in Automotive Thermoplastic Polymer Composites Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Automotive Thermoplastic Polymer Composites Market?
In 2024, the North America accounts for the largest market share in Automotive Thermoplastic Polymer Composites Market.
What years does this Automotive Thermoplastic Polymer Composites Market cover?
The report covers the Automotive Thermoplastic Polymer Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Thermoplastic Polymer Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Automotive Thermoplastic Polymer Composites Industry Report
Statistics for the 2024 Automotive Thermoplastic Polymer Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Thermoplastic Polymer Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
