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Automotive Carbon Thermoplastic Market Sees Strong Recovery| MarketsandMarkets™

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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.

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

MarketsandMarkets™ Report: Sharp Growth for Automotive Carbon Thermoplastic Market, Driven by Powertrain & UTH industry

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In the report "Automotive Carbon Thermoplastic Market (CFRTP Composites) by Resin Type (PA, PPS, PP, PEI, PEEK, PC) and Application (Exterior, Interior, Chassis, Powertrain & UTH) - Global Forecast to 2021", 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. The growth of the CFRTP market is driven by an increase in demand for fuel-efficient vehicles, CO2 and GHG emissions reduction efforts, weight reduction, parts consolidation, and energy efficiency.

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

Use of CFRP composites is considered as one of the most effective ways of reducing vehicle weight and improving fuel economy and emissions levels. However the relatively higher cost of the material limits its use in only a handful of high-end cars production. CFRP composites are used for body-in-white, hood, roof, doors, fenders, deck-lid/trunk-lid, and other exterior components. Despite their cost, there is little economic incentive to attempt repairs on such parts, and this is unlikely to see any decline in terms of volume.

Automotive Carbon Thermoplastic Market Opportunity Analysis, Regional Data View and Industry Forecast Growth- Exclusive Report by MarketsandMarkets™

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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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Use of CFRP composites is considered as one of the most effective ways of reducing vehicle weight and improving fuel economy and emissions levels. However the relatively higher cost of the material limits its use in only a handful of high-end cars production. CFRP composites are used for body-in-white, hood, roof, doors, fenders, deck-lid/trunk-lid, and other exterior components. Despite their cost, there is little economic incentive to attempt repairs on such parts, and this is unlikely to see any decline in terms of volume.

Impact of COVID-19 on Automotive Carbon Thermoplastic Market: Challenges, Demand, Solutions and Opportunities

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The report "Automotive Carbon Thermoplastic Market (CFRTP Composites) by Resin Type (PA, PPS, PP, PEI, PEEK, PC) and Application (Exterior, Interior, Chassis, Powertrain & UTH) - Global Forecast to 2021", 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. The growth of the CFRTP market is driven by increase in demand for fuel efficient vehicles, CO2 and GHG emissions reduction efforts, weight reduction, parts consolidation, and energy efficiency.

Request a Report Sample to Gain Valuable Insights at https://www.marketsandmarkets.com/requestsampleNew.asp?id=14845217

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

Use of CFRP composites is considered as one of the most effective ways of reducing vehicle weight and improving fuel economy and emissions levels. However the relatively higher cost of the material limits its use in only a handful of high-end cars production. CFRP composites are used for body-in-white, hood, roof, doors, fenders, deck-lid/trunk-lid, and other exterior components. Despite their cost, there is little economic incentive to attempt repairs on such parts, and this is unlikely to see any decline in terms of volume.