Market Size of US Automotive Thermoplastic Polymer Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Automotive Thermoplastic Polymer Composites Market Analysis
US Automotive Thermoplastic Polymer Composite Market is expected to register a CAGR of 3% during the forecast period.
There has been a rising interest in thermoplastic polymer composites since the past few years, owing to several advantages of these materials, such as high volume processability, recyclability, superior damage tolerance, fracture toughness, and ability to produce complex shapes.
These composites can be applied 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 weight of the 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.
US Automotive Thermoplastic Polymer Composites Industry Segmentation
US Automotive Thermoplastic Polymer Composite Market covers the current and upcoming trends with recent technological development. The report will provide a detailed analysis of various areas of the market by product type and application. The market share of significant automotive Thermoplastic Polymer Composite companies across the United States will be provided in the report.
| Production Type | |
| Hand Layup | |
| Resin Transfer Molding | |
| Vacuum Infusion Processing | |
| Injection Molding | |
| Compression Molding |
| Application Type | |
| Structural Assembly | |
| Power Train Components | |
| Interior | |
| Exterior | |
| Others |
US Automotive Thermoplastic Polymer Composites Market Size Summary
The US Automotive Thermoplastic Polymer Composites Market is experiencing a notable transformation, driven by the increasing adoption of thermoplastic polymer composites in the automotive sector. These materials are gaining traction due to their advantageous properties, such as high volume processability, recyclability, and superior damage tolerance. The automotive industry, facing challenges from high fuel prices and stringent emission regulations, is leveraging these composites to reduce vehicle weight, thereby enhancing fuel efficiency and reducing carbon emissions. Long-fiber thermoplastics (LFTs) and glass mat thermoplastic (GMT) composites are particularly prominent, offering design flexibility, low density, and high productivity. The demand for these materials is further bolstered by innovations and their application in various transportation modes, from cars to underground trains.
The market is characterized by a fragmented landscape with numerous startups and regional players, including 3B-Fiberglass, BASF, Gurit, and Solvay, actively engaging in strategic collaborations and partnerships to maintain a competitive edge. These collaborations aim to drive innovation and standardization in the production of cost-effective continuous fiber-reinforced thermoplastic (CFRTP) composites, which are crucial for the future of lightweight vehicle design. The automotive industry's focus on minimizing weight to improve fuel economy and driving dynamics aligns with the capabilities of thermoplastic composites, making them a preferred choice for manufacturers. As the industry continues to evolve, the integration of these materials into vehicle designs is expected to expand, supported by ongoing advancements and market penetration efforts.
US Automotive Thermoplastic Polymer Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Production Type
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2.1.1 Hand Layup
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2.1.2 Resin Transfer Molding
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2.1.3 Vacuum Infusion Processing
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2.1.4 Injection Molding
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2.1.5 Compression Molding
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2.2 Application Type
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2.2.1 Structural Assembly
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2.2.2 Power Train Components
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2.2.3 Interior
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2.2.4 Exterior
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2.2.5 Others
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US Automotive Thermoplastic Polymer Composites Market Size FAQs
What is the current US Automotive Thermoplastic Polymer Composites Market size?
The US Automotive Thermoplastic Polymer Composites Market is projected to register a CAGR of 3% during the forecast period (2024-2029)
Who are the key players in US Automotive Thermoplastic Polymer Composites Market?
3B-Fiberglass , BASF, Gurit , Solvay and Arkema Group are the major companies operating in the US Automotive Thermoplastic Polymer Composites Market.
