According to the recent study the carbon fiber in the global automotive composites market is projected to reach an estimated $1.1 billion by 2027 from $0.7 billion in 2021, at a CAGR of 8% from 2021 to 2027. Growth in this market is primarily driven by increasing automotive production and increasing demand for lightweight materials in electric and hybrid vehicles, to achieve higher fuel efficiency and reduce greenhouse gas emissions.
Browse 182 figures / charts and 103 tables in this 165 -page report to understand trends, opportunities and forecast in carbon fiber in the global automotive composites market by application type (exterior, interior, power train system, chassis system, under body system, pressure vessel and others), material (SMC, LFT, SFT, prepreg and RTM and other thermoset), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Exterior market is expected to remain the largest segment during the forecast period.”
Based on application, the carbon fiber in the global automotive composites market is segmented into exterior, interior, power train system, chassis system, under body system, pressure vessel and others. Lucintel forecasts that the exterior market is expected to remain the largest segment due to its properties like energy absorption and lightweight, high specific strength and stiffness, low thermal expansion, and durability in harsh environments.
“Within the carbon fiber in the global automotive composites market, the textile and other thermoset segment is expected to remain the largest material type”
Based on material type the textile and other thermoset segment is expected to witness the highest growth over the forecast period due to decreasing cost of automotive materials for processing and reduced cycle time.
“Europe will dominate the carbon fiber in the global automotive composites market in near future”
Europe is expected to remain the largest region over the forecast period due to increased percentage of composites usage in high-performance sports cars and luxury cars, with brands like BMW and Lamborghini.
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Major players of carbon fiber in the global automotive composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. SGL, Toray Industries, Mitsubishi Rayon, Toho Tenax, Formosa Plastic Corp, Hexcel Corportation, DowAksa, Hyosung Corporation, and CYTEC are among the major carbon fiber in the global automotive composites providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carbon-fiber-in-the-global-automotive-compositescolonopt-trends,-opportunities-and-competitive-analysis.aspx or [email protected]