The market size for automotive carbon thermoplastic is estimated to reach USD 549.4 Million by 2021, registering a CAGR of 29.65% between 2016 and 2021. Partnerships, agreements, supply contracts, joint ventures, alliance, & collaborations are the key strategies adopted by the market players to achieve growth in the carbon thermoplastics (CFRTP) composites market in automotive industry. These strategies accounted for the largest share of all the development strategies adopted by the market players to expand their global presence and increase their market share between 2011 and 2014. The rising demand for new product as well as the need for research and development of CFRTP composites to produce light-weight automotive has encouraged companies to adopt these strategies.

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Polyamide is the most preferred carbon fiber reinforced thermoplastic composites due to its low dielectric constant, low cost, chemical inertness, high mechanical strength, good dimensional stability, and heat resistance to 2400C. Carbon fiber reinforced polyamide (CF/PA) composites can be used in automobile air intake manifolds which were traditionally made of metal. Substituting metal in the manifolds with nylon reduces the weight of the part by up to 60%, cuts system costs through parts integration, and contributes to higher fuel efficiency. Engine covers, rocker valve, airbag containers, and automotive pedals are some other applications of carbon fiber reinforced polyamide composites. CF/PA is also used in exterior and interior automotive parts. These include door modules, body-in-white components, steering wheel components, seat structures, exterior mirrors, front-end grilles, and trim.

Market players are focusing on launching technologically advanced and innovative automotive products in the developed markets. Cytec Industries, Inc. (U.S.), Gurit Holding AG (Switzerland), Mitsubishi Rayon (Japan), SGL Group (Germany), TenCate (Netherlands), and Toray Industries, Inc. (Japan) are some of the leading market players that adopted this strategy to develop their business. These companies have also adopted various organic and inorganic growth strategies to improve their business and maintain their market share, globally.

Recently in September 2016, Teijin Limited (Japan) agreed to acquire Continental Structural Plastics Holdings Corporation (U.S.) for USD 0.82 billion. Under the terms of the agreement, Continental Structural Plastics will become a wholly owned subsidiary of Teijin Limited. This acquisition of Teijin will establish a foundation for an automotive composite products business in North America. The amalgamation of Continental Structural Plastics’ thermoset glass fiber reinforced polymer (GFRP) capabilities and Teijin’s high-performance composites such as carbon fiber reinforced thermoplastic (CFRTP) will help reduce weight and component count in finished products, thus meeting automobile manufacturers’ requirements for more environmentally friendly components at lower cost.

In June 2014, SABIC and Kringlan Composites (Switzerland) entered into a partnership to develop the world’s first carbon fiber reinforced thermoplastic composite wheel. A prototype is being produced for a German automotive manufacturer. The wheel employs SABIC’s ULTEM polyetherimide (PEI) resin and Kringlan Composites’ wheel design and manufacturing process, which is designed for short cycle times and high-volume production. This material solution offers OEMs the opportunity to reduce weight and save manufacturing costs. It can be used to replace conventional materials such as metal and aluminum alloy. This partnership will strengthen SABIC’s position in high-margin, high-growth carbon fiber reinforced thermoplastic (CFRTP) market.

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Key companies such as 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.), and Toray Industries Inc. (Japan) are profiled in this report.

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