Global automotive carbon thermoplastic market forecast at $8 billion by 2033

Pune, India – The global automotive carbon thermoplastic market is valued at US$ 700 million in 2023 and is expected to touch US$ 8 billion
by 2033, rising at a high-value CAGR of 27.5% from 2023 to 2033 according to Fact MR.
Automotive carbon thermoplastic is a composite material comprised of carbon fiber and plastic. Carbon fiber is a cutting-edge
material that is ten times more durable than steel while weighing only a fifth of the weight. Carbon fiber is blended with one or
two polymers to create a one-of-a-kind product that can be employed in the production of robust and lightweight vehicle parts.
These thermoplastic materials are used to design the interior and exterior of automobiles.
Carbon thermoplastic for automotive applications has the extra benefit of being highly resistant to deformation as well as
alkaline and acid corrosion. Its potential to aid in meeting the demand for energy savings and CO2 reduction in the automobile
industry has gained more attention over the past few years.
The automotive industry is a major contributor to worldwide CO2 emissions.
As per the United States Environmental Protection Agency (EPA), an average passenger vehicle generates roughly 4.5 metric
tons of carbon dioxide per year.
As a result, automotive firms have concentrated their research on technologies that decrease these pollutants, resulting in the
creation of high-efficiency and low-emission internal combustion engines, electric motors, fuel cell engines, and hybrid engines.
Moreover, the automotive industry is continually seeking methods to make cars lighter, faster, stronger, and cheaper.
According to Japan’s Ministry of Transport, reducing the weight of a single automobile by 100 kg lowers CO2 emissions by
an average of 20 g/km.
Hence, in recent years, there has been a substantial increase in the development and application of carbon thermoplastics for
automotive weight reduction and stringent CO2 emissions, with the goal of mass manufacturing opportunities.
For example, Covestro AG, a German firm, created a novel composite technology in February 2020 to create high-strength,
lightweight, thin, aesthetic parts for vehicles that minimize CO2 emissions and fuel consumption or extend the range of
electric vehicles. The technique, known as MaezioTM, is based on continuous fiber-reinforced thermoplastic polymers

Thermoplastic composite materials have exceptional properties, making them more attractive as a metal alternative in many
industries. The goal is to create lighter, less fuel-intensive automobiles that release less CO2. As a result, the need for carbon
thermoplastic is rising. Carbon thermoplastic is increasingly used to replace high-tension steel and other materials in hybrid,
electric, and other next-generation environmentally-friendly vehicles.
Key Companies Profiled Celanese Corporation: BASF SE; Dow, Inc; DuPont de Nemours, Inc; Cytec Industries, Inc; Gurit Holding AG.

Carbon fiber-reinforced structural parts are light, sturdy, and load-bearing, and they play a vital role in reducing automotive
weight. However, the high cost of carbon fiber in comparison to other fibers (glass, natural) utilized in the creation of various
automobile components is one of the primary challenges for this market since small auto parts manufacturers can’t afford to
invest in high-priced carbon fibers. Furthermore, vehicle manufacturers’ concerns about establishing a waste disposal or recycling
mechanism for carbon composite parts pose a barrier.
Europe is dominating the worldwide market. Europe accounted for 39% of the global market for automotive carbon
thermoplastic in 2022.
The European Council, European Parliament, and European Commission established binding CO2 emission targets for new light
commercial vehicles and passenger cars for 2025 and 2030. The goals are to cut average CO2 emissions from new cars by 20% in
2025 and 40% in 2030.
Furthermore, Europe has surpassed China as the world’s leading electric vehicle market. The government subsidies and the
availability of numerous new automobiles and hybrids are encouraging customers to invest in eco-friendly vehicles.
According to The Wall Street Journal, Europe’s share of worldwide new electric car sales roughly doubled in 2021, while
China and the United States lost market share.
As a result, European companies are investing more in creating and producing carbon thermoplastic for automotive applications
due to the rising popularity of electric vehicles and rigorous carbon emission regulations.
DSM, a Dutch manufacturer, released carbon fibers based on Akulon® polyamide 6 (PA 6), DSM’s EcoPaXX® polyamide
410 (PA 410), and Stanyl® polyamide 46 (PA 46). They will allow for significant weight reduction in vehicle body and chassis
components.
DSM is also a partner in the four-year ENLIGHT initiative, which involves Renault, Jaguar Cars, Volvo, and Volkswagen.
ENLIGHT, which is part of the European Union’s Seventh Framework Programme, seeks to speed up the technological
advancement of a portfolio of materials that, when combined, have a high ability to decrease overall carbon footprint and
weight in medium-to-high volume electric vehicles that could hit the market between 2020 and 2025.
Germany is leading the regional market due to the presence of a well-established automotive sector. Germany is a prominent
auto exporter in the world. With over 12 million units sold globally in 2019, Volkswagen Group topped a list of the leading
producer based on global sales. In 2019, over 3.7 million passenger automobiles were sold in Germany, representing a small
increase over 2018.

Demand for automotive carbon thermoplastic is surging in North America. The United States and Canada are greatly supporting
regional market growth. Strong research and development efforts in more sustainable and recyclable composite materials are
boosting the market in these countries.
Automakers in the United States and Canada are investing extensively in reducing vehicle weight through the use of various
polymers and fibers to improve fuel efficiency.

The Asia Pacific market is growing rapidly due to the large production of electric vehicles and expanding production in the
automotive industry. Automotive manufacturers are concentrating heavily on increasing manufacturing capacity to meet the
region’s growing demand for lightweight automobiles. This is boosting the sales of automotive carbon thermoplastic due to
possible benefits such as weight reduction and increased fuel efficiency.
The Japanese and South Korean markets are also witnessing tremendous growth due to the increasing adoption of electric
vehicles in these countries. The growing popularity of electric vehicles can be attributed to government initiatives and support to
better the environment and reduce reliance on fossil fuels. Governments in Japan and South Korea are supporting the adoption
of zero-emission vehicles by lowering the registration tax on electric vehicles.
Demand for polyamide (PA) resin is escalating due to its widespread use in the automotive industry. Polyamide’s mechanical
qualities, including high flexibility, high tensile strength, good resilience, and high impact strength (toughness), have raised its
demand in the automobile industry. Polyamides have high melting and glass transition temperatures, which results in good
mechanical characteristics at high temperatures. Moreover, many market players are introducing innovative polyamide-based
products.
For example, Rhodia, a French firm, produced polyamide 610 manufactured from castor oil called Technyl eXten in 2021.
Technyl eXten is a high-performance polyamide with properties close to polyamide 12 for automakers looking for greener
alternatives.
Furthermore, the demand for polypropylene (PP) is also increasing. Polypropylene is not affected by moisture, making it an
excellent choice for applications where moisture is an issue. This is expected to boost its use in thermoplastic composite
manufacturing.
Polyetherimide (PEI) is also in high demand in the automotive industry. Polyetherimide is a flexible thermoplastic material that is
widely used in the automotive industry. Polyetherimide can be processed using standard processes such as extrusion, injection
molding, thermoforming, and compression molding. Furthermore, this material has excellent qualities such as flame resistance,
low smoke output, hydrolytic stability, and UV light resistance.