Lucintel Forecasts Thermoplastic Resin in Global Automotive Composites Market to Reach $7.6 Billion by 2027

According to the recent study the thermoplastic resin in global automotive composites market is projected to reach an estimated $7.6 billion by 2027 from $4.5 billion in 2021, at a CAGR of 8.8% from 2021 to 2027. Growth in this market is primarily driven by increasing demand for lightweight material as well as high performance materials in different application of automotive markets.

Browse 127 figures / charts and 101 tables in this 241 -page report to understand trends, opportunities and forecast in thermoplastic resin in global automotive composites market by application (exterior, interior, powertrain system, under body system, chassis system, electrical and electronics and others), material type (short fiber thermoplastics (SFT), long fiber thermoplastics (LFT), continuous fiber thermoplastics (CFT), and glass mat thermoplastics (GMT) and others), resin type (polypropylene (PP), polyamide (PA), polybutylene terephthalate (PBT), and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).

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“PA market is expected to remain the largest segment during the forecast period.”

Based on resin, the thermoplastic resin in global automotive composites market is segmented into polypropylene (PP), polyamide (PA), polybutylene terephthalate (PBT), and others. Lucintel forecasts that the PA market is expected to remain the largest segment due to its very tough material, with excellent all-round chemical resistance.

“Within the thermoplastic resin in global automotive composites market, the powertrain system segment is expected to remain the largest application.”

Based on application the powertrain system segment is expected to witness the highest growth over the forecast period due to increasing penetration of composites materials in automotive industry.

“Europe will dominate the thermoplastic resin in global automotive composites market in near future.”

Europe is expected to remain the largest region over the forecast period.

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Major players of thermoplastic resin in global automotive composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Celanese, SABIC, TenCate Advanced Composites, Cytec Solvay Group, BASF SE, Jushi Group Co. Ltd., John’s Manville, Chongqing Polycomp International Corporation, and LANXESS are among the major thermoplastic resin in global automotive composites providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/thermoplastic-resin-in-automotive-composites-market.aspx  or helpdesk@lucintel.com.

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Contact:
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Lucintel
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Email: brandon.fitzgerald@lucintel.com
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