Thermoplastic Resin in Global Automotive Composites Market Trends and Forecasts
Lucintel finds that the future of the thermoplastic resin in global automotive composites material market looks promising with opportunities in the marine, pipe and tank, construction, transportation, wind energy, aerospace and defense, electrical and electronics, and consumer goods sector. The thermoplastic resin in the global automotive composites market is expected to reach an estimated $7 billion by 2031 with a CAGR of 4% 2024 to 2031. The major growth drivers for this market are increasing demand for lightweight material as well as high performance materials in different application of automotive markets.
• Lucintel forecasts that PA resin will remain the largest segment over the forecast period due to its very tough material, with excellent all-round chemical resistance. Poly butylene terephthalate resin is expected to witness highest growth over the forecast period.
• Powertrain system will remain the largest segment over the forecast period due to increasing penetration of composites materials in automotive industry. Exterior is expected to witness highest growth over the forecast period.
• Europe is expected to remain the largest region over the forecast period due to the growth in the automotive production in this region. ROW is expected to witness highest growth over the forecast period.
Country wise Outlook for the Thermoplastic Resin in Global Automotive Composites Market
The thermoplastic resin in the global automotive composites market is witnessing substantial growth globally, driven by increased demand from various applications such as exterior, interior, powertrain system, under body system, and chassis system. Major players in the market are expanding their operations and forming strategic partnerships to strengthen their positions. Below image highlights recent developments by major thermoplastic resin in the global automotive composites producers in key regions/countries: the USA, Germany, Brazil, China, and India.
Emerging Trends in the Thermoplastic Resin in Global Automotive Composites Market
The global automotive composites market is rapidly evolving with the rising adoption of thermoplastic resins. Known for their recyclability, lightweight properties, and efficient processing, these materials are becoming essential in meeting industry demands for performance, cost-effectiveness, and sustainability.
• Lightweighting for Efficiency and Emissions Reduction: Thermoplastics reduce vehicle weight, improve fuel efficiency, and meet emissions targets, making them ideal for structural components, especially in electric vehicles.
• Rising Use of Long and Continuous Fiber Thermoplastics: Long and continuous fiber thermoplastics offer superior strength and durability, replacing metal in high-performance automotive parts for enhanced safety and reduced weight.
• Emphasis on Recyclability and Circular Economy Goals: Thermoplastics support recycling and circular manufacturing goals, helping automakers reduce waste, lower costs, and comply with growing sustainability regulations.
• Compatibility with Advanced Processing Techniques: Thermoplastics work well with automated processes like injection molding, enabling faster production, complex designs, and reduced manufacturing costs for high-volume vehicle platforms.
• Regulatory Support and Sustainability Mandates: Governments and industry standards promote recyclable, eco-friendly materials, encouraging automakers to adopt thermoplastics for compliance and greener vehicle development.
Thermoplastic resins are driving innovation in automotive manufacturing by enabling lighter, greener, and more efficient vehicles. As trends progress, their role will continue to expand across advanced mobility solutions.
Recent Developments by the Thermoplastic Resin in the Global Automotive Market
The global automotive composites market has seen significant advancements in recent years, particularly in the realm of thermoplastic resins. These materials are increasingly favored for their lightweight properties, durability, and recyclability, which align with the automotive industry's push towards sustainability and fuel efficiency. As manufacturers seek to reduce vehicle weight and enhance performance, thermoplastic composites are becoming integral to vehicle design and production. This overview highlights five key developments that are shaping the market landscape, reflecting innovations in material technology, manufacturing processes, and industry collaborations.
• Development of High-Performance Thermoplastics: Recent innovations in high-performance thermoplastics, such as polyamide and polycarbonate, have improved mechanical properties and thermal resistance, making them suitable for critical automotive applications. This advancement allows manufacturers to produce lighter and more durable components, enhancing vehicle performance and safety.
• Increased Adoption of Recyclable Materials: The automotive industry is increasingly adopting recyclable thermoplastic composites to meet sustainability goals. This shift not only reduces environmental impact but also appeals to eco-conscious consumers, driving demand for vehicles made with sustainable materials and fostering a circular economy in automotive manufacturing.
• Advancements in Manufacturing Techniques: Innovations in manufacturing techniques, such as automated fiber placement and 3D printing, have streamlined the production of thermoplastic composites. These methods reduce production time and costs while allowing for complex geometries, which can lead to more efficient designs and improved vehicle aesthetics.
• Strategic Partnerships and Collaborations: Collaborations between automotive manufacturers and material suppliers have accelerated the development of advanced thermoplastic composites. These partnerships facilitate knowledge sharing and resource pooling, leading to faster innovation cycles and the introduction of new materials tailored to specific automotive applications.
• Regulatory Support for Lightweight Materials: Governments worldwide are implementing regulations that encourage the use of lightweight materials in vehicles to improve fuel efficiency and reduce emissions. This regulatory support is driving investment in thermoplastic composites, as manufacturers seek to comply with stricter environmental standards while enhancing vehicle performance.
These developments in the thermoplastics resin segment of the global automotive composites market are significantly impacting the industry. The focus on high-performance, recyclable materials, coupled with advancements in manufacturing and strategic collaborations, is driving innovation and sustainability. As regulatory frameworks continue to support lightweight materials, the market is poised for growth, with thermoplastic composites playing a crucial role in the future of automotive design and production.
Strategic Growth Opportunities for Thermoplastic Prepreg in Global Transportation Market
The global automotive composites market is experiencing significant growth, driven by the increasing demand for lightweight materials that enhance fuel efficiency and reduce emissions. Thermoplastic resins, known for their versatility and recyclability, are becoming increasingly popular in automotive applications. As manufacturers seek to innovate and meet stringent environmental regulations, several strategic growth opportunities are emerging across key applications. This discussion highlights five key growth opportunities that are shaping the future of thermoplastic resins in the automotive sector.
• Lightweight Components: The shift towards lightweight materials is crucial for improving fuel efficiency. Thermoplastic resins enable the production of lighter vehicle components, which directly contribute to reduced energy consumption and lower emissions, aligning with global sustainability goals.
• Electric Vehicle (EV) Applications: The rise of electric vehicles presents a significant opportunity for thermoplastic resins. These materials are ideal for battery enclosures and structural components, offering weight savings and enhanced safety features, which are essential for the growing EV market.
• Interior and Exterior Parts: Thermoplastic resins are increasingly used in automotive interiors and exteriors due to their aesthetic appeal and durability. This application allows for greater design flexibility and improved performance, catering to consumer preferences for high-quality finishes and long-lasting materials.
• Advanced Manufacturing Techniques: The adoption of advanced manufacturing techniques, such as 3D printing and injection molding, is creating new opportunities for thermoplastic resins. These methods enable rapid prototyping and customization, allowing manufacturers to respond quickly to market demands and innovate more effectively.
• Sustainability Initiatives: As the automotive industry focuses on sustainability, thermoplastic resins that are recyclable and environmentally friendly are gaining traction. This shift not only meets regulatory requirements but also appeals to eco-conscious consumers, driving demand for sustainable automotive solutions.
The strategic growth opportunities in the automotive composites market, particularly for thermoplastic resins, are significantly impacting the industry. By focusing on lightweight components, electric vehicle applications, interior and exterior parts, advanced manufacturing techniques, and sustainability initiatives, manufacturers can enhance their competitive edge and contribute to a more sustainable automotive future.
List of Thermoplastic Resin Companies in Global Automotive Composites Market
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies thermoplastic resin companies in the global automotive market cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the thermoplastic resin companies in the global composites market profiled in this report includes.
• Celanese
• SABIC
• Toray Industries Inc.
• Syensqo
• BASF
• Jushi Group Co., Ltd.
• Johns Manville Corporation
• Chongqing Polycomp International Corporation
• LANXESS
• DuPont
Thermoplastic Resin in Global Automotive Composites Market by Segment
The study includes a forecast for the thermoplastic resin in global automotive composites market by application, material, resin, and region as follows:
By Material Type [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
• GMT
• SFT
• LFT
• CFT
• Other Material Types
By Resin [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
• PP
• PA
• PBT
• Other Resins
By Region [Value ($M) and Volume (M lbs.) Analysis for 2019 – 2031]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Features of Thermoplastic Resin in Global Automotive Composites Market
• Market Size Estimates: Thermoplastic resin in global automotive composites market size estimation in terms of value ($M) and volume (M lbs.).
• Trend and Forecast Analysis: Market trends (2019-2024) and forecast (2025-2031) by various segments and regions.
• Segmentation Analysis: Market size by application, material, resin, and region.
• Regional Analysis: Thermoplastic Resin in Global Automotive composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different applications, materials, resins and regions for the thermoplastic resin in global automotive composites market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the thermoplastic resin in global automotive composites market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
If you are looking to expand your business in thermoplastic resin in global automotive composites or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
FAQ
Q1. What is the thermoplastic resin in global automotive composites market size?
Answer: The thermoplastic resin in global automotive composites market is expected to reach an estimated $7 billion by 2031.
Q2. What is the growth forecast for thermoplastic resin in global automotive composites market?
Answer: The thermoplastic resin in global automotive composites market is expected to grow at a CAGR of 4% from 2024 to 2031.
Q3. What are the major drivers influencing the growth of the thermoplastic resin in global automotive composites market?
Answer: The major drivers for this market are increasing demand for lightweight material as well as high performance materials in different application of automotive markets.
Q4. What are the major applications or end use industries for thermoplastic resin in global automotive composites?
Answer: Power train system and chassis are the major applications for thermoplastic resin in global automotive composites.
Q5. What are the emerging trends in thermoplastic resin in global automotive composites market?
Answer: Emerging trends, which have a direct impact on the dynamics of the lightweighting for efficiency and emissions reduction, rising use of long and continuous fiber thermoplastics, emphasis on recyclability and circular economy goals, compatibility with advanced processing techniques, and regulatory support and sustainability mandates
Q6. Who are the key thermoplastic resin in global automotive composites companies?
Answer: Some of the key thermoplastic resin in global automotive composites companies are as follows:
• Celanese
• SABIC
• Toray Industries Inc.
• Syensqo
• BASF
• Jushi Group Co., Ltd.
• Johns Manville Corporation
• Chongqing Polycomp International Corporation
• LANXESS
• DuPont
Q7.Which thermoplastic resin in global automotive composites material segment will be the largest in future?
Answer: Lucintel forecasts that powertrain system will remain the largest application and is also expected to witness the highest growth over the forecast period due to increasing penetration of composites materials in automotive industry.
Q8. In thermoplastic resin in global automotive composites market, which region is expected to be the largest in next 7 years?
Answer: Europe is expected to remain the largest region growth over next 7 years .
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the thermoplastics resin in the global automotive composites market by application (exterior, interior, powertrain system, under body system, chassis system, electrical and electronics and other applications), material (short fiber thermoplastics (SFT), long fiber thermoplastics (LFT), continuous fiber thermoplastics (CFT), and glass mat thermoplastics (GMT) and other materials), resin type (polypropylene (PP), polyamide (PA), polybutylene terephthalate (PBT), and other resins), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 7 years in this market?