Market Snapshot:
The composition with other materials increases the capability of the materials. Carbon fibers are about five times stronger than steel and other materials. This property encourages automotive manufacturers to use carbon fiber in increasing the performance of the vehicle. Carbon fiber has various applications such as exteriors, power train systems, under-body systems, chassis systems, and interiors. The increase in the use of carbon fiber in the automotive industry is expected to drive the market in near future.
Highlights from Carbon Fiber in Automotive Market Study
Attributes | Details |
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Study Period | 201-2030 |
Base Year | 202 |
Unit | Value (USD Million) |
The key Vendors profiled in the report are Hexcel Corporation (United States), Mitsubishi Chemical Carbon Fiber and Composites Inc. (United States), SGL Carbon SE (Germany), Teijin Limited (Japan), Toray Industries Inc. (Japan), ZOLTEK (United States), Gurit Holding (Switzerland), Fibre Glast (United States), Protech Composites (United States) and InteriorMI MFG (Canada). Additionally, other players that are part of this comprehensive study are Cytec Solvey Group, Formosa Plastic Corp. (Taiwan), DOWAKSA (Turkey), Carbon Products (India), Reliance composites (India), Carbon Light (India) and Carbonext India Pvt Ltd. (India).
Geographic Breakdown and Segment Analysis
The Global Carbon Fiber in Automotive market presents a comprehensive analysis of the Carbon Fiber in Automotive market by product type (Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT) and Long Fiber Thermoplastic (LFT)), by end-user/application (Interior, Exterior, Body Structure and Others), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Carbon Fiber in Automotive industry. Investors and Vendors can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Carbon Fiber in Automotive market
Analyst at AMA have segmented the market study of Global Carbon Fiber in Automotive market by Type, Application and Region.
Influencing Trend:
Trends towards Hybrid and Electric Vehicles
Market Growth Drivers:
Increasing Application of Carbon Fiber in Automotive to Increase Speed and Power of Vehicles and Rising Demand from the Aerospace and Defense Markets and Smaller Markets such as Sporting Goods and Construction Materials
Challenges:
Low Awareness of the benefits of Carbon Fibers
Restraints:
High Raw Material Cost Associated with the Carbon Fibers
Opportunities:
Growing Demand and Adoption of Lightweight Vehicles can create Opportunities for the Market Growth
Market Developments Activities:
On 2nd May 2022, Solvay announced the launch of SolvaLite. It is a new generation of unidirectional carbon fiber. These cutting-edge prepregs have been specially designed to manufacture automobile components, such as body panels, at quick compression-molding cycle durations in serial production runs. They also have quick cure cycles and long outlives.
On 27th April 2021, Braskem announced the expansion of the 3D printing products to include new, innovative carbon fiber reinforced polypropylene filament for 3D printing offering superior mechanical and thermal properties as well as low warpage.
Leading players are working with businesses in new markets to boost profitability. In order to obtain a competitive edge, they are also introducing lightweight sophisticated products and working with OEMs.
Key Target Audience
Carbon Fiber in Automotive Manufacturers, Carbon Fiber in Automotive Suppliers and Distributors, Industry Verticals, Regulatory Bodies and Others