Market Size of Automotive Thermoplastic Polymer Composites Industry
| 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 |
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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.
