Trends, opportunities and forecast in this market to 2021 by application type (exterior, power train system, under body system, chassis system, pressure vessel, interior, and others), material (SMC, LFT, SFT, prepreg layup, RTM, and other thermosets), region (North America, Europe, and APAC/ROW).
According to a new market report published by Lucintel, the future of Global Automotive Composites Carbon Fiber Market looks promising with opportunities in various applications, including exterior, power train system, under body system, chassis system, pressure vessel, interior, and others. Global automotive composites carbon fiber market is forecast to grow at a CAGR of 10.4% from 2016 to 2021.
The major growth drivers for this market are increasing automotive production and growing demand for lightweight materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions. Other major growth drivers include the growing demand for carbon fiber-reinforced plastics (CFRP) in luxury cars, race cars and other high-performance cars.
Browse 36 market data tables and 130 figures spread through 190 pages and in-depth TOC on “Global Automotive Composites Carbon Fiber Market”
In this market, exterior, power train system, under body system, chassis system, pressure vessel, interior and others are the major applications. Based on Lucintel’s comprehensive research, exterior is expected to remain the largest market, and chassis system is expected to show the highest growth rate during the forecast period from 2016 to 2021.
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Within carbon fiber market for automotive, sheet molding compound (SMC), short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and prepreg, are the major materials to manufacture automotive components. LFT is expected to remain the largest market by value and volume, mainly driven by applications where high strength-to-weight ratios and high resistance to chemicals, heat and corrosion have prime importance.
Europe is expected to remain the largest market due to growing demand for lightweight, environmentally sustainable composite materials from the automotive industry. 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 curb the overall vehicle weight, and this is the key driver for the use of carbon fiber in the automotive industry
For business expansion, this report suggests innovation and new product development to produce hybrid, low cost, and recyclable carbon fiber for the automotive composites industry. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of transformative technologies and material systems to make carbon fiber parts for mass-volume vehicles. Toray, Hexcel, Cytec Solvey Group, SGL, DOWAKSA, Hyosung Corporation, Formosa Plastic Corp, and Composite Holding Company are among the major suppliers of carbon fiber in the global automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of carbon fiber in the global automotive composites market has come up with a comprehensive research report entitled “Growth Opportunities of Global Au…rtunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for carbon fiber in the global automotive composites market by application, material and region as follows:
Automotive composites carbon fiber market by application type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Under the body systems
- Chassis System
- Power train system
- Pressure Vessel
Automotive composites carbon fiber market by material type (Value ($M) and Volume (M lbs) from 2010 to 2021):
- Sheet Molding Compound (SMC)
- Short Fiber Thermoplastic (SFT)
- Long Fiber Thermoplastic (LFT)
Automotive composites carbon fiber market by region type (Value ($M) and Volume (M lbs) from 2010 to 2021)
- North American
- Asia Pacific (APAC) and the Rest of the World (ROW)
This 190-page research report will enable you to make confident business decisions in this globally competitive marketplace.
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