According to a new market report published by Lucintel, the future of carbon fiber in the global automotive market looks promising with opportunities in the exterior, interior, chassis, powertrain, and under body system market. Carbon fiber in the global automotive market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach by 2025 with a CAGR of 2% to 4% from 2020 to 2025 . The major growth drivers for this market are increasing automotive production and growing demand for lightweight material due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions.
Browse 103 market data tables and 184 figures spread through 254 pages and in-depth TOC on “Carbon Fiber in the Global Automotive Market"
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In this market, SMC, LFT, SFT, Prepreg and RTM and other thermoset are used for carbon fiber in automotive manufacturing for material. Lucintel forecasts that the carbon fiber textile is expected to remain the largest market by value and volume due to increasing demand in automotive exterior applications.
Within this market, exterior will remain the largest application by value and volume due to increasing usage of carbon fiber in hood, fender, panel, roof, front end module, and wind shield. Lucintel predicts that the demand for carbon fiber in chassis application is expected to experience the highest growth in the forecast period.
Europe is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing production of luxury and sports car. Government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to reduce the vehicle weight.
Emerging trends, which have a direct impact on the dynamics of carbon fiber in the global automotive industry, include development of hybrid, low cost, and recyclable carbon fiber for automotive market. SGL, Toray, Mitsubishi Rayon, Toho Tenax, Formosa Plastic, Hexcel, Cytec, DOWAKSA, Hyosung Corporation, and Composite Holding are among the major carbon fiber in automotive manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the carbon fiber in the global automotive market by application, material, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Carbon Fiber in the Global Automotive Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the carbon fiber in the global automotive market by application, material and region as follows:
By Application (Volume (M lbs.) and $M shipment analysis for 2014 to 2025):
Power train system
Under body system
By Material (Volume (M lbs) and $M shipment analysis for 2014 to 2025):
Long Fiber Thermoplastic (LFT)
Sheet Molding Compound (SMC)
Short Fiber Thermoplastic (SFT)
By Region (Volume (M lbs) and $M shipment analysis for 2014 to 2025):
The Rest of the World
This 254-page 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-market.aspx#/ or email@example.com.
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