Carbon Thermoplastics Market Research Report and Forecast up to 2024 Carbon Thermoplastics Market | Page 2

On the other hand, the high cost of producing carbon thermoplastics is the key
factor preventing its widespread use. While the automotive industry is a leading
consumer of carbon thermoplastics, their use is not uniform across the industry,
with leading players benefiting heavily from their better developed research
facilities. However, the steady government support to military modernization
programs is likely to be a steady driver for the global carbon thermoplastics market
in the coming years, as carbon thermoplastics are also being used in military
vehicles due to their superior capacity to withstand physical impacts.
Global Carbon Thermoplastics Market: Geographical and Competitive
Dynamics
The demand for carbon thermoplastics is dominated by developed regions such as
North America and Europe. These two regions are home to some of the most
advanced and well-funded automotive and aerospace manufacturing and research
facilities in the world, which has provided a steady source of revenue to the carbon
thermoplastics industry. The strong presence of established automotive giants such
as Mercedes, BMW, Volkswagen, and Audi is likely to ensure steady dominance of
Europe in the coming years, while the increasing emphasis being laid upon military
modernization initiatives in the U.S. is expected to make it a strong regional market
for carbon thermoplastics.
The China market for carbon thermoplastics is expected to undergo smooth
progress in the coming years. This is primarily due to the consistent growth of the
country’s manufacturing sector, which has grown to rival that of Europe and North
America. The Chinese automotive industry, for instance, already produces an output
comparable to the automotive industry in Europe. This is likely to remain a major
driver for the carbon thermoplastics market in the coming years, as the rising
disposable income of consumers in Asia Pacific means the market for luxury items
including carbon thermoplastics could be set to rise.
The report also profiles the leading players in the carbon thermoplastics market in
order to shed light on the competitive dynamics of the market. Key companies in
the carbon thermoplastics market include BASF SE, Quickstep Holdings Limited,
Celanese Corporation, SGL Group, Tencate, Saudi Basic Industries Corporation, and
the Dow Chemical Company.
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Major regions analyzed under this research report are: