Resin – Segment Analysis
Polyamide (PA) has the largest share in the Automotive Carbon Thermoplastic market as it is mostly used in automotive sector. Mechanical properties such as high tensile strength, high flexibility, good resilience, low creep and high impact strength (toughness) has increased the demand for Polyamide in the automotive sector. They are easy to dye and exhibit excellent resistance to wear due to a low coefficient of friction (self-lubricating). Polyamides have a high melting temperature and glass transition temperature resulting in good mechanical properties at elevated temperatures. Adoption of Polyamides in automotive sector had increased the overall growth of Automotive Carbon Thermoplastic market.
Application – Segment Analysis
Interior Automotives components such as – sheets, round bars, blocks, pipes has been the primary market for Automotive Carbon Thermoplastic for many years. Due to increase in the global middle class spending towards automobiles there is growth in automotive carbon thermoplastic market. Growing R&D investments toward new vehicles for light weighted vehicles will boost this market, as carbon fibers reduces the vehicle’s weight without compromising with the durability of the vehicle. Countries such as Germany, China, Belgium are the major producers Polyamides. So, these countries majorly uses carbon thermoplastics in the automotive sector.
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Geography – Segment Analysis
APAC dominated the Automotive Carbon Thermoplastic market as APAC consist a very dominant part in the world’s roadway network because of the large area it acquired. Whereas AH1 is the longest route of the Asian Highway Network, running from Tokyo, Japan via Korea, China, Southeast Asia, Bangladesh, India, Pakistan, Afghanistan and Iran to the border between Turkey and Bulgaria west of Istanbul where it joins end-on with European route E80. Roadways networks were always built because of the increase in number of vehicles and as the no. of vehicles increases the market for automotive carbon thermoplastic will also grow.
According to the annual report of OICA (International Organization of Motor Vehicle Manufacturers), for most vehicles manufactured in year 2018, China, India & Japan are in the top 20 countries around world. In which China has ranked 6th whereas India & Japan are ranked 14th and 18th respectively. So, in countries like these there is a chance of huge growth opportunity for Automotive Carbon Thermoplastic market.
Drivers – Automotive Carbon Thermoplastic Market
- Growing demand for light- weighted and efficient automobiles
In countries such as China, India, Japan are the huge market for automobiles sector. As, in these countries there is continuous growth in the automobile manufacturing sector. Because of the feature of carbon fibre to make vehicles more efficient by reducing weight, vibration, noise of the vehicles. Thermoplastic composite materials boast outstanding characteristics, making them increasingly valuable in many sectors as a substitute to metal. The objective is to develop lighter, less fuel-intensive vehicles emitting less CO2. Owing to this the demand for carbon thermoplastic will increase.
- Stringent Environment Regulations by Governments
Governments globally are focusing on giving boost to the electric and solar vehicles on road to lower down pollution. By increasing more and more eco-friendly vehicles the market for automotive carbon thermoplastic will grow. For an example Tata Motors launched Hybrid and electric Starbus from manufacturing facility in Pune under its zero-emission mass transport solution. Owing to this, Governments regulations will indirectly promote the automotive carbon thermoplastic market.
Challenges – Automotive Carbon Thermoplastic Market
- High Price of Carbon Fiber
Carbon fiber reinforced parts are light, strong and load-bearing, structural parts and is important in cutting weight from cars. But the high cost of carbon fiber compared to other fibers (glass, natural) that are used in the manufacture of various components of car is one of the major challenge for this market as, small auto parts industries will suffer to buy the high price carbon fibers. Moreover, concerns of automotive manufacturers over providing a waste disposal or recycling system for carbon composite parts is also a challenge.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the automotive carbon thermoplastic market. In 2019, the market of fuel additives has been consolidated by the top five players accounting for xx% of the share. Major players in the Automotive Carbon Thermoplastic Market are BASF SE, Dow Chemical Company, Toray Industries Inc., Du Pont, Gurit Holding Ag, Quickstep Holdings Limited, Saudi Basic Industries Corporation, SGL Group, among others.
- 20 June 2019, Sekisui Chemical has inked a deal to acquire Renton, Washington–based Aim Aerospace for $510 million from the private equity firm Liberty Hall Capital Partners.
- 22 August 2018, Teijin Limited has acquired Inapal Plasticos SA (Inapal), a leading automotive composite supplier. The shares of Inapal will be purchased by Teijin Holdings Netherlands B.V., the Teijin Group’s holding company in the Netherlands.
- Asia-Pacific dominates the Automotive Carbon Thermoplastic market due to the increased demand in automobile.
- The growing demand for light weighted vehicles will aid in the market growth of Carbon Thermoplastic.
- Increasing demand for energy storage battery in cars, can be the new market for Automotive Carbon Thermoplastic in the near forecast.
- Rising levels of governments’ regulations on petroleum industry will create hurdles for the Carbon Thermoplastic.
Related Reports :
1. Thermoplastic Elastomers Market
2. Carbon Thermoplastic Market
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