Carbon Fiber in the Global Automotive Composites Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Carbon Fiber in the Global Automotive Composites Market Trends and Forecast

The future of the carbon fiber in the global automotive composites market looks promising with opportunities in the exterior, interior, power train system, chassis system, under body system, and pressure vessel market. The carbon fiber in the global automotive composites market is expected to reach an estimated $1,320.3 million by 2028 with a CAGR of 6.8% 2022 to 2028.  The major drivers of growth for this market are increasing automotive production and increasing demand for lightweight materials in electric and hybrid vehicles, to achieve higher fuel efficiency and reduce greenhouse gas emissions..

Emerging Trends in the Carbon Fiber in the Global Automotive Composites Market

Emerging trends, which have a direct impact on the dynamics of the industry, increasing use of hybrid automotive lightweight materials, cellulose-based carbon fiber made from recycled plant matter, emergence of integrated production system for CFRP and development of stronger and lighter automotive equipment and spare parts
A total of 182 figures / charts and 103 tables are provided in this 165-page report to help in your business decisions. A sample figure with insights is shown below. 

Carbon Fiber in the Global Automotive Composites Market by Segment

The study includes a forecast for the global carbon fiber in the global automotive composites market by application, material type, and region as follows:

By Application Type [Value ($B) and Volume (M lbs) shipment analysis for 2017 – 2028]:

• Interior
• Exterior
• Under body systems
• Chassis system
• Power train system
• Pressure Vessel
• Others

By Material Type [Value ($B) and Volume (M lbs) shipment analysis for 2017 – 2028]:

• Sheet Molding Compound (SMC)
• Short Fiber Thermoplastic (SFT)
• Long Fiber Thermoplastic (LFT)
• Prepreg
• RTM and Other Thermoset 

By Region [Value ($B) and Volume (M lbs) shipment analysis for 2017 – 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Carbon Fiber in the Global Automotive Composites Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies carbon fiber in the global automotive composites companies catr increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the carbon fiber in the global automotive composites companies profiled in this report includes. 

• SGL
• Toray  Industries
• Mitsubishi Rayon
• Toho Tenax
• Formosa Plastic Corp
• Hexcel Corportation
• DowAksa
• Hyosung Corporation
• CYTEC 

Carbon Fiber in the Global Automotive Composites Market Insight

• Lucintel forecasts that exterior will remain the largest application segment and is also expected to witness the highest growth over the forecast period due to decreasing cost of automotive materials for processing and reduced cycle time..
• Textile and other thermoset material of carbon fiber in the global automotive composites will remain the largest segment and it is expected to witness the highest growth over the forecast period due to its properties like energy absorption and lightweight, high specific strength and stiffness, low thermal expansion, and durability in harsh environments.
• 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.

Features of Carbon Fiber in the Global Automotive Composites Market

• Market Size Estimates: Carbon fiber in the global automotive composites market size estimation in terms of value ($B) and Volume (M lbs)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Market size by application, material type and region
• Regional Analysis: Carbon fiber in the global automotive composites market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different application, material type and regions for the carbon fiber in the global automotive composites market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the recycled carbon fiber market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model. 

FAQ

Q1. What is the carbon fiber in the global automotive composites market size?
Answer: The global carbon fiber in the global automotive composites market is expected to reach an estimated $1.3 billion by 2028.      
Q2. What is the growth forecast for carbon fiber in the global automotive composites market?
Answer: The carbon fiber in the global automotive composites market is expected to grow at a CAGR of 6.8% from 2022 to 2028.    
Q3. What are the major drivers influencing the growth of the carbon fiber in the global automotive composites market?
Answer: The major drivers of growth for this market are increasing automotive production and increasing demand for lightweight materials in electric and hybrid vehicles, to achieve higher fuel efficiency and reduce greenhouse gas emissions.     
Q4. What are the major applications or end use industries for carbon fiber in the global automotive composites?
Answer: Exterior, interior, power train system, chassis system, under body system, and pressure vessel use are the major end use industries for carbon fiber in the global automotive composites.       
Q5. What are the emerging trends in carbon fiber in the global automotive composites market?
Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of hybrid automotive lightweight materials, cellulose-based carbon fiber made from recycled plant matter, emergence of integrated production system for CFRP and development of stronger and lighter automotive equipment and spare parts.
Q6. Who are the key carbon fibers in the global automotive composites companies?
Answer: Some of the key carbon fiber in the global automotive composites companies are as follows:

• SGL
• Toray  Industries
• Mitsubishi Rayon
• Toho Tenax
• Formosa Plastic Corp
• Hexcel Corportation
• DowAksa
• Hyosung Corporation
• CYTEC

Q7. Which carbon fiber in the global automotive composites product segment will be the largest in future?
Answer: Lucintel forecasts that textile and other thermoset material carbon fiber in the global automotive composites will remain the largest segment and it is expected to witness the highest growth over the forecast period due to due to its properties like energy absorption and lightweight, high specific strength and stiffness, low thermal expansion, and durability in harsh environments.
Q8. In carbon fiber in the global automotive composites market, which region is expected to be the largest in next 5 years?
Answer: Europe is expected to remain the largest region over next 5 years          
Q9. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.
 

This report answers following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global 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)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?