The global automotive carbon fiber composites market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing usage of natural fibers that are eco friendly, rising concern for environment among people, and stringent rules and regulation regarding control of emission.
Carbon fiber Composites is combined with two materials that have different physical and chemical properties. They are majorly used for the replacement of steel and variety of heavy materials due to its high strength and weight ratio. The carbon fiber composites is combined for making special materials for doing some work to become stronger, resistant, and lighter along with it help to maintain the strength and stiffness in the vehicles.
Covid-19 has majorly impacted the automotive carbon fiber composites market. The worldwide lockdown has impacted the automobiles manufacturing which has decreased the growth of the automotive carbon fiber composites market. Many functioning has also been impacted due to lockdown including supply chain of vehicles, stoppage in production, and closed manufacturing plants.
Automotive Carbon Fiber Composites Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for lightweight and fuel efficient vehicles is projected to propel the market expansion in the coming years.
- Rapid growth of the automotive industry is main factors fueling the market growth.
- Strict rules and policies implemented by government possess as main factor that can hinder the market growth.
- High processing and manufacturing price of carbon fiber composites is expected to restrict the market expansion in the coming years.
- R&D investment and technological advancement in carbon fiber composites are projected to offer lucrative opportunities for the market players.
Scope of the Automotive Carbon Fiber Composites Market Report
The report on the global automotive carbon fiber composites market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Automotive Carbon Fiber Composites Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2020
|
|
Historic Data
|
2018–2019
|
|
Forecast Period
|
2021–2028
|
|
Segmentation
|
Applications (Power Train Components, Exterior, Structural Assembly, and Interior), Production Types (Compression Molding, Injection Molding, Hand Layup, Vacuum Infusion Processing, and Resin Transfer Molding)
|
|
Regional Scope
|
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Hexcel Corp.; SGL Carbon SE; Toray Industries Inc.; Mitsubishi Chemical Carbon Fiber and Composites Inc.; Teijin Ltd.; Delphi Technologies; 3B Fiberglass; General Motors Company; and Nippon Sheet Glass Co Ltd.
|
Automotive Carbon Fiber Composites Market Segment Insights:
Exterior segment is anticipated to hold a large market share
In terms of applications, the global automotive carbon fiber composites market is segmented into power train components, exterior, structural assembly, and interior. The exterior segment is expected to constitute a key share of the market in the coming years due to main components of the body of car such as door panels; fender, bumper beam, hood, and front end module are comprised of carbon fiber composite materials. The usage of carbon fiber composite materials increases the durability, lesser maintenance cost, and durability. On the other hand, the interior segment is projected to expand at a rapid pace in the coming years due to increasing demand for interior components that has light weight.
Injection molding segment is expected to account for a major market share
Based on production types, the market is segmented into compression molding, injection molding, hand layup, vacuum infusion processing, and resin transfer molding. The injection molding segment is expected to represent a key share of the market during the forecast period due to growing adoption in the automotive sector and rising operating temperatures. However, the compression molding segment is expected to expand at a rapid pace in the coming years owing to simple process and decreasing tool costs.
Europe is anticipated to dominate the market
On the basis of regions, the global automotive carbon fiber composites market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to biggest producer of the motor vehicles and major industry operating in the region. On the other hand, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to rising fuel efficiency requirement as well as lightweight vehicles.
Segments
Segments Covered in the Report
The global automotive carbon fiber composites market has been segmented on the basis of
Applications
- Power Train Components
- Exterior
- Structural Assembly
- Interior
Production Types
- Compression Molding
- Injection Molding
- Hand Layup
- Vacuum Infusion Processing
- Resin Transfer Molding
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Hexcel Corp.
- SGL Carbon SE
- Toray Industries Inc.
- Mitsubishi Chemical Carbon Fiber and Composites Inc.
- Teijin Ltd.
- Delphi Technologies
- 3B Fiberglass
- General Motors Company
- Nippon Sheet Glass Co Ltd.
Competitive Landscape
Key players competing in the global automotive carbon fiber composites market include Hexcel Corp.; SGL Carbon SE; Toray Industries Inc.; Mitsubishi Chemical Carbon Fiber and Composites Inc.; Teijin Ltd.; Delphi Technologies; 3B Fiberglass; General Motors Company; and Nippon Sheet Glass Co Ltd. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
