Global Carbon Fiber Market Highlights:
A carbon fiber is composed of carbon atoms with about 5 to 10 micrometers in diameter. There are various advantages of using carbon fiber in automotive, which include high stiffness, high tensile strength, reduced weight, and tolerance at high temperature. These properties of carbon fiber have resulted in its increased use in the automotive industry. However they are more expensive than other materials. They are usually composed with other materials to form a composite. 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 the automotive manufacturers to use carbon fiber in increasing the performance of the vehicle. The carbon fiber has various applications such as the exteriors, power train system, under body system, chassis system, and the interior. The increase in use of carbon fiber in automotive industry, is expected to drive the market in near future.
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Carbon Fiber Market key Players Studied:
Toray (Japan), Hexcel (U.S.), Cytec Solvey Group (U.S.), SGL (Germany), DOWAKSA (Turkey), Hyosung Corporation (South Korea), Formosa Plastic Corp (Taiwan), and Holding Company “Composite” (Russia), ZOLTEK (U.S.), Axon (U.K.), Plasan Carbon Composites (U.S.), 3MB Co., Ltd. (Thailand), GURIT (Switzerland), Rivers Carbon Technologies (New Zealand), and Sigmatex Ltd (England).
The factors supporting the growth of carbon fiber in automotive, are increased safety in the vehicle, growing technology development, increase in the sales of vehicle, and rise in government regulations to meet fuel efficiency of the vehicle. The growing technology for light weight material is expected to drive the market in the future. The lightweight materials help increase the fuel efficiency and the performance of the vehicle. This increased performance will drive vehicle purchase, which will drive the market. There has been an increase in the government regulations to meet the fuel efficiency of the vehicle. The Institute for Advanced Composites Manufacturing Innovation (IACMI) has aimed to decrease the cost of composite fiber to reduce the overall cost of the automotive components. Increase in vehicle sales is also expected to drive the carbon fiber in automotive market during the forecast period. The increase in sales of vehicle will result in growing demand of carbon fiber in the vehicle due to the light weight property. This increase demand will result in the growth of the market in future.
On the basis of region, the market has been segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to dominate the market in future due to the rise in production of passenger and commercial vehicles in emerging countries such as India, China, and Japan. Europe is expected to be the second largest market for carbon fiber due to an increase in demand for light weight vehicle body parts. The stringent government regulations in Europe for developing environmental sustainable composite materials, is expected to drive the carbon fiber market in future. North America, where automobile manufacturers will continue to see an increase in the sales of the passenger cars is expected to be the third largest market due to growing demand for vehicle production. The increase in demand of the new vehicles will enable the growth of the auto components suppliers. This increase in demand of passenger cars, will result in high demand for standard components in the vehicle. This will result in the growth of the market in future.
This study provides an overview of the global carbon fiber in automotive market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Carbon Fiber in Automotive market by its material type, application type, vehicle type, and region
By Material Type:
- Sheet Molding Compound (SMC)
- Short Fiber Thermoplastic (SFT)
- Long Fiber Thermoplastic (LFT)
By Application Type:
- Power Train System
- Under Body System
- Chassis System
By Vehicle Type:
- Passenger Cars
- Commercial Vehicles
The report for Carbon Fiber in Automotive Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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