Automotive Thermoplastic Polymer Composites Market - Report

Overview

The automotive thermoplastic polymer composites market was valued at USD 28.56 billion in 2022 and is expected to grow to USD 46.23 billion by 2032, growing at a CAGR of 5.50%, during the forecast period.

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• Interest in thermoplastic polymer composites has been increasing since the last few years due to the many advantages of this material, such as high volume processing, recycling, good resistance to damage, fracture toughness and the ability to form complex shapes.
• This composite material is used in many applications, from cars to subways. It is suitable for many types of transportation. Among thermoplastic composites, long fiber thermoplastics (LFT) are widely used in transportation.
• The automotive industry was affected by high fuel prices. Additionally, in the automotive industry, automotive OEMs and suppliers are using thermoplastic materials to make vehicles competitive. Due to strict emission regulations, car manufacturers are trying to reduce the weight of their cars as this will help in reducing CO2 emissions significantly. It is estimated that a 10 kilogram weight reduces CO2 emissions by 1 gram per kilometer.

Automotive Thermoplastic Polymer Composites Market Trends

Thermoplastic Fiberglass Mat (GMT) is Expected to Grow Rapidly

Thermoplastic fiberglass form was first introduced in the 1970s. Effective construction materials, GMT composites are injection moldable, discontinuous (long or short) glass fibers, reinforced composites, and advanced thermoplastics with many fiber structures.

It has many advantages:

• Create freedom: create products by combining various materials.
• Low density.
• It is easy to recycle.
• Innovation has production potential and ecological needs.
• Low speed.
• It is easy to recycle.
• Innovation has production potential and ecological needs.
• High Productivity.

Although GMT is available in a variety of polymer matrices, propylene-based composites predominate due to their low cost. This material can compete with other materials, especially at temperatures of 110 °C.

Glass fiber mats thermoplastic composites have found a need in the product market mix. They are easy to use and have excellent mechanical properties.

• Mercedes-Benz has chosen two grades of glass felt-reinforced thermoplastic supplied by Swiss materials manufacturer Quadrant Plastic Composites. This information is used to create a new front-end module design for the S-Class luxury coupe range. The new front module weighs only 3.4 kg compared to 5 kg of the previous model.

Innovations and greater market penetration are expected to increase the demand for glass fiber mat thermoplastic composites during the forecast period.

Transportation Sector to Drive the Market

Corporate Average Fuel Economy (CAFÉ) standards force companies in the automotive sector to produce vehicle models using high-performance materials. The weight of the vehicle directly affects driving, fuel consumption and speed. A 10% reduction in vehicle weight can save up to 5-7% on fuel.

From 2020, the EU will now require all European car manufacturers to achieve an emission level of CO2 emissions per kilometer. kilometer. . 130 gr.

Focusing on reducing carbon emissions and improving fuel economy, primarily by reducing vehicle weight, increases the demand for thermoplastic materials.

Continuous fiber reinforced thermoplastic composites (CFRTP) is one of the important materials that can solve the increasing concern of heavy vehicles. CFRTP composites, along with steel, will become part of many materials used in automobile construction in the future. Materials are designed and assembled with recyclability and sustainability in mind. Automotive industry standards will also help change the performance characteristics of CFRTP.

The automotive industry is experiencing major changes. As companies explore options to meet future needs, partnerships are proving to be a great way to grow and find new ways to invest risk. The most interesting thing is to work with strategies that are effective in all assets.

• DuPont Transport and Advanced Polymers, for example, while participating in organizations such as IACMI (Advanced Composite Manufacturing Innovation Institute) and AZL (Integrated Center for Light Manufacturing in Aachen) first chose to collaborate collaboratively, despite standardization issues. collaborative team focused on demonstrating the benefits of the manufacturing process for CFRTP composites, particularly for high-volume applications.

In 2019, SABIC announced a new announcement at JEC World 2019: The company's technology uses UDMAX tape, a unidirectional fiber-reinforced thermoplastic Lightweight, cost-effective and composite to create reusable car panels. Designed to replace steel and thermoset panels in the interior and exterior of the car, the new technology will soon be commercialized in the compartments of light commercial vehicles (LCVs) worldwide.

In the case of partitions, replacing conventional metal parts with UDMAX tape lamination reduces the size of the application by 35%. The low weight also makes it easier to work with large compartments, which helps keep the car assembled.

Asia Pacific has the Largest Market Share in the Thermoplastic Composites Market

Asia Pacific is the largest thermoplastic composites market worldwide and is expected to record the highest CAGR. Domestic demand pressure for thermoplastic materials in materials and electronics in the following sectors: transportation, aerospace, and defense. This has encouraged the Asia-Pacific region to become a leader in commercial thermoplastic composites. Due to COVID-19, Toray Industries, Ltd. Major thermoplastic companies such as (Japan) are operating under adverse conditions in compliance with all COVID-19-related laws. In addition, with the revival of thermoplastic composites in all industries and high-performance thermoplastic composites, the demand for thermoplastic composites in the region will increase after 2020.

Automotive Thermoplastic Polymer Composites Industry Overview

The automotive thermoplastic polymer composite industry has undergone consolidation, with only a few companies operating. Some of the key players in the market include 3B-Fiberglass, Base Group, BASF, BMW, Cytec Industries, etc. It is located.

Automotive Thermoplastic Polymer Composites Market Leaders

• 3B-Fiberglass
• Cytec Industries Inc.
• Arkema Group
• Celanese Corporation
• Daicel Polymer Ltd
• DuPont de Nemours
• Hexcel Corporation
• Technocompound GmbH
• Polyone Corporation

Market Segmentation

By Production Type

• Hand Layup
• Resin Transfer Molding
• Vaccum Infusion Processing
• Injection Molding
• Compression Molding

By Application Type

• Structural Assembly
• Power Train Components
• Interior
• Exterior
• Others

By Geography

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • Germany
  • United Kingdom
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Argentina
• Middle-East and Africa
  • United Arab Emirates
  • Saudi Arabia
  • Rest of Middle-East and Africa