According to a new market report published by Lucintel, the future of thermoplastic resin in the global automotive composites market looks good with opportunities in various applications such as powertrain system, electrical and electronics, chassis system, interior, exterior, under body system, and others. Thermoplastic resin in the global automotive composites market is expected to reach an estimated $4.7 billion by 2022 and it is forecast to grow at a CAGR of 5.1% from 2017 to 2022. The major growth drivers for this market are increasing automotive production and growing demand for lightweight and durable materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions. The other major drivers of thermoplastic resin for automotive are higher impact strength, better surface finish to the composite materials, and higher production rates than thermoset resin.