Automotive Carbon Thermoplastic Market Sees Strong1

Automotive Carbon Thermoplastic Market Sees Strong Recovery| MarketsandMarkets™

Automotive Carbon Thermoplastic (ACT) is a high-performance plastic used in the automotive industry due to its strength, lightweight, and high-temperature resistance. It manufactures a variety of parts, including engine housings, fuel tanks, fuel lines, and other components. It is also used for interior trim pieces and exterior features that require heat resistance, such as exhaust systems and brakes. Because of its ability to reduce weight and improve fuel efficiency, ACT is a must-have material for automakers. The need for lightweight materials to meet fuel efficiency and emissions regulations will drive up demand for Automotive Carbon Thermoplastic. The Automotive Carbon Thermoplastic market is expanding due to increased demand for fuel-efficient vehicles, CO2 and GHG emission reduction efforts, weight reduction, part consolidation, and energy efficiency.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=14845217 

Exterior Application: The most dominant application segment in the CFRTP composites market

Automotive exterior applications are the dominant application segment in the CFRTP composites market. Because of their superior strength, lightweight, and cost-effectiveness, CFRTP composites are gaining traction in the automotive industry. CFRTP composites are becoming more popular in the production of automotive exterior components such as bumpers, spoilers, and body panels. Additionally, CFRTP composites are used in the production of automotive interior features such as dashboards, instrument panels, and door trims.

Powertrain & UTH: The fastest-growing application segment of the CFRTP composites market

Powertrain and under-the-hood (UTH) components are the fastest-growing application segment of the CFRTP composites market. CFRTP composites have improved corrosion resistance and higher strength-to-weight ratios, making them ideal for high-performance applications. The parts are also lightweight and can be designed to withstand high temperatures, making them suitable for powertrain components in automobiles. Powertrain and UTH CFRTP composites are in high demand due to the growing demand for lightweight materials in the automotive industry. Furthermore, the growing demand for electric vehicles is expected to fuel the growth of this application segment.

Asia-Pacific dominates the Automotive Carbon Thermoplastic market during the forecast period

Because of the presence of some of the world's leading automotive manufacturers, the Asia-Pacific region dominates the global Automotive Carbon Thermoplastic market. Furthermore, as environmental concerns grow, the region is seeing an increase in demand for lightweight vehicles. This is fueling demand for automotive carbon thermoplastics used in the production of automotive components. Furthermore, government initiatives and supportive regulations are propelling the development of the region's automotive industry, which is driving demand for automotive carbon thermoplastics. Furthermore, the region's growing demand for fuel-efficient vehicles is expected to drive up demand for automotive carbon thermoplastics in the near future.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=14845217 

Europe is expected to dominate the automotive carbon thermoplastic market as CO2 regulations tighten and demand for electric vehicles grows. Automotive carbon thermoplastics are lightweight materials that are used in automotive components to help reduce vehicle weight and improve fuel efficiency. European countries are setting the standard for emissions regulations, making such materials more likely to be adopted. Furthermore, the region's growing demand for electric vehicles is expected to drive the market for automotive carbon thermoplastics.

Key market players in the carbon thermoplastics market

The key players in this market are BASF SE (Germany), Celanese Corporation (U.S.), Cytec Solvay (U.S.), Du Pont (U.S.), Gurit Holding Ag (Switzerland), Quickstep Holdings Limited (Australia), Saudi Basic Industries Corporation (Saudi Arabia), SGL Group (Germany), Teijin Ltd (Japan), Tencate (Netherlands), the Dow Chemical Company (U.S.), Toray Industries Inc. (Japan) and others. 

Read Our Trending Press Release Below:

• Cellulose Acetate Market- http://www.emailwire.com/release/1138364-Cellulose-Acetate-Market-worth-63-billion-by-2026.html 

• Unsaturated Polyester Resins Market- http://www.emailwire.com/release/1138342-Unsaturated-Polyester-Resins-Market-worth-122-billion-by-2021.html 

About MarketsandMarkets™ 

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. 

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The Knowledge Store™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry. 

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441