vikram pathari
Market Overview
- The Global Automotive Carbon Fiber Market is expected to grow at a CAGR of 8% during the forecasting period (2020-2027). This is mainly due to the increasing demand for fuel-efficient vehicles coupled with rising penetration light-weight electric vehicles in developed countries like the US, the UK, Germany, Norway, and others.
- Carbon Fiber is a polymer and is sometimes known as graphite fiber. It is a very strong material that is also very lightweight. Carbon fiber is five-times stronger than steel and twice as stiff. Though carbon fiber is stronger and stiffer than steel, it is lighter than steel; making it the ideal manufacturing material for the automotive industry. According to the US Department of Energy, carbon fiber composites could reduce passenger car weight by 50%, which would improve fuel efficiency by nearly 35% without compromising the performance of the car or the safety of its passengers. Therefore, raising awareness about the benefits of carbon fiber and increased adoption of carbon fiber by manufacturers in the automotive industry will further boost growth in the market.
- The report covers all the major trends and drivers playing a vital role in the growth of the global Automotive Carbon Fiber market. The global Automotive Carbon Fiber market has been segmented based on region, application, and material.
Download free sample: https://www.datamintelligence.com/download-sample/automotive-carbon-fiber-market
Market Dynamics
- The global Automotive Carbon Fiber market growth is primarily driven by various technological advancements happening in the industry coupled with the launch of new and innovative Carbon Fiber for automobiles by the market players. Moreover, growing demand for carbon fiber-reinforced plastics in luxury cars, race cars, and other high-performance cars pushing the market towards growth. Technological development and new material systems to make carbon fiber parts for mass-volume vehicles have a direct impact on the dynamics of the automotive composite's carbon fiber market.
- Also, vehicle production is increasing owing to the rising demand for comfort, rise in penetration, and demand for lightweight passenger vehicles, government norms regarding pollution & steps taken to implement electric vehicles. Many car companies, such as BMW, Audi, GM, Honda, and Polestar have established agreements with carbon fiber material producers for mass production, and are investing in their processes to support low-cost carbon fiber manufacturing. Therefore, a rise in popularity among passenger and commercial vehicle manufacturers and an increase in sales of EV is expected to drive the market over the forecast period.
- However, various microeconomic factors and high initial cost might hinder the market growth. For instance, India’s passenger vehicle industry suffered its worst sales performance in nearly 19 years in 2019; as a slowing economy, higher ownership costs, and floods in some states deterred buyers.
Segmentation Analysis
- By application, the global automotive carbon fiber market is segmented into exteriors, interiors, structural assembly, powertrain cowl, and others (under body system, pressure vessel). In 2018, the Exterior segment accounted for the majority share in the global market. Carbon fiber body panels are used on performance-oriented vehicles because they are approximately twice as rigid, significantly stronger but are much lighter than panels made from steel and are also more rigid, stronger, and lighter than aluminum panels. Reduced weight increases the performance as the engine will have less weight to carry and it will get better fuel efficiency.
- By material, the global automotive carbon fiber market is segmented into long fiber thermoplastic, short fiber thermoplastic, continuous carbon fiber thermoplastic, sheet molding compound, and others (textile, Prepreg). Carbon fiber-reinforced plastics (CFRPs) are finding their way into new applications as industries demand materials with ever-higher strength-to-weight ratios, corrosion resistance, and workability. The widespread adoption of CFRPs in alternative vehicles such as electric/hybrid and fuel cell vehicles, and CO2 emission regulations mandated by the European and U.S. parliaments are also expected to drive the automotive carbon fiber market globally.
Geographical Analysis
- By geography, the global Automotive Carbon Fiber Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).
- In 2018, APAC dominated the global Automotive Carbon Fiber market. Also, China is the leading country in the region as well as globally. Most of the product demand in the Asia Pacific is fulfilled by China, India, South Korea, and Japan. China is the number one automotive market, with 300 million cars on the road (vs. 270 million in the US) and production of 24.8 million vehicles in 2017, compared to 11.2 million in the US, 8.4 million in Japan, almost 5.7 million in Germany, and 4 million and 3.7 million in India and South Korea, respectively.
- In North America and Europe, the automotive industry continues to develop composites for light-weighting vehicles, driven by fuel economy and emissions regulations. For instance, EU emissions regulations mandate a mere 95 g/km of CO2 by 2021, with another 15% reduction by 2025, and in 2030, a further 30% reduction from 2021.
- To meet the standards for emissions and carbon fiber use, major manufacturers and OEMs in the market have started investing in R&D activities as well as entering into partnerships for technology exchange across borders. For instance, Magna Exteriors formed a joint venture with GAC Component Co. Ltd. (GACC, Guangzhou, China) to begin production of thermoplastic composite (TPC) liftgates for a global automaker's crossover vehicle starting in late 2018.
- Kangde Group (Hong Kong) entered an agreement with BAIC Motor to build an Industry 4.0 smart factory in Changzhou to produce CFRP car body and other components beginning in 2019 and scaling to 6 million parts/yr. — its 66,000 MT/yr. carbon fiber facility in Rongcheng will begin production in 2023.
Competitive Landscape
- Global Automotive Carbon Fiber Market is fragmented with the presence of global and regional players in the market. The market players in the Automotive Carbon Fiber market are focusing on expanding through strategic interventions, such as acquisitions, collaborations, expansion, and launching advanced products in the Automotive Carbon Fiber market. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Automotive Carbon Fiber.
- Intense rivalry among top players in the market has started the fierce competition at various levels for setting a low price, driving aggressive marketing strategies, and new and innovative product launches as per consumers’ preference.
- Some major players in the market are Hexcel Corporation, Mitsubishi Chemical Corporation, SGL Carbon SE, Teijin Limited, Toray Industries Inc., A&P Technology Inc, DowAksa USA LLC, Solvay, Kemrock Industries and Exports Limited, Cytec Industries Inc, and among others.
View full report: https://www.datamintelligence.com/research-report/automotive-carbon-fiber-market
Enquiry before buying: https://www.datamintelligence.com/enquiry/automotive-carbon-fiber-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year, we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866
Website: www.datamintelligence.com
0
vikram pathari
Related Articles
According to Goldstein Research, global automotive battery market size is expected to reach USD 23.5 billion by 2024, growing at a compounded annual growth rate of 5.7% during the forecast period 2016-2024.
Global market is largely driven by the Asia Pacific in terms of revenue share owing to a large automotive industry in the region.
Whereas in North America & Europe the increasing adoption advances automotive technologies (automotive telematics, autonomous vehicles, and electric vehicles), there are high growth opportunities of the automotive battery market in these regions.
The automotive industry’s pursuit to limit its environmental impact and Transformation of automotive mobility into a sustainable mode of transportation continues at high intensity.
A major driver in global automotive battery market is emerging market of lithium-ion battery-powered electric vehicles around the world.
Various governments are taking initiatives for faster adoption and deployment of electric vehicles across the globe.
0
Polyurethane Dispersion Market report focuses on top manufacturers in Global Market.The Polyurethane Dispersion Market market is subject to witness a substantial growth due to the robust growth in various verticals such as buildings & construction industry, automotive sector, packaging industry, textile and leather industry.
Rising demand for leather and textile products from Asia Pacific and North America region are expected to augment polyurethane dispersion market demand over the next seven years.
Recent technological advancements in the automotive industry coupled with development of innovative products such as waterborne Polyurethane Dispersion and hot melts coating are anticipated to foster the polyurethane dispersion market growth.
0
During the forecast period 2022-2027, the Global Automotive Fabrics Market is projected to reach $40. The study is also a combination of · Market statistical analysis· Growth analysis · Incremental competitive analysis· Investment opportunity· Industry facts· Statistical figures· Revenue· Sales· Profits· The gross margin of the Global Automotive Fabrics Market. The composition of the Global Automotive Fabrics Market research report is given by,· The study from the previous year was based on historical information from years 2018 to 2021, the current situation, trends, and ongoing market statistics in the base year of 2021, as well as an evaluation of the market opportunity for the projection period from 2022 to 2027. It includes the following information:· Business Strategy· Company overview· Financial performance· Key Product/Service Offers· Performance indicators. The market's dominant segmentation is achieved using the following techniques: Fabric Type Insight and Forecast 2022-2027· Polyester· Vinyl· Leather· Nylon· Others Vehicle Type Insight and Forecast 2022-2027· Passenger Cars· Compact Passenger Cars· Mid-Sized Passenger Cars· Premium Passenger Cars· Luxury Passenger Cars· Light Commercial Vehicles· Heavy Trucks· Buses and Coaches Application Insight and Forecast 2022-2027 · Pre-Assembled Interior Components (PRIC)· Belts and Hoses· Car Roof· Floor Covering· Upholstery· Tires· Spray Adhesive· Airbags· Safety Belts· Others Scope of the market report:The research studies offer in-depth knowledge about identifying, elucidating, and projecting the dynamics of the Global Automotive Fabrics Market across segments and geographical areas.
0
The report "Automotive Composites Market by Fiber Type (Glass, Carbon), Resin Type (Thermoset, Thermoplastic), Manufacturing Process (Compression Molding, Injection Molding, Rtm), Application, Vehicle Type, Region - Global Forecast to 2028", is projected to grow from USD 7. Glass fiber based automotive composites are primarily used in interior, and exterior applications. The exterior applications have the largest market share in the global automotive composites in terms of value. Although thermoplastic resins are considered to be eco-friendly, thermoset resins holds the larger share in automotive composites market. Asia Pacific is expected to be the largest market for automotive composites during the forecast periodAsia Pacific is the largest and the fastest growing market for automotive composites.
0
The Automotive Blockchain Market report provides an in-depth analysis of key growth strategies, drivers, opportunities, key segments, Porter’s Five Forces analysis, and the competitive landscape. 5 % During the Forecast Period (2019-2026)The Industry research report gives a plan for the future that will help companies and other stakeholders make good decisions that will bring good returns for many years. The report provides a practical overview of the global market and its real-time changes so that readers can make decisions about well-informed market projects. Request Free Sample Copy of Report @ https://straitsresearch. , Germany, France, Italy)Asia Pacific (China, India, Japan, Singapore, Malaysia)Latin America (Brazil, Mexico)Middle East & AfricaThis Free Report Sample Contains:A detailed introduction to the in-depth research report.
0
The Automotive V2X Global Market Report 2021-31 by The Business Research Company describes and explains the global automotive V2X market and covers 2016 to 2021, termed the historic period, and 2022 to 2026, termed the forecast period, along with further forecasts for the period 2026-2031. The Automotive V2X Global Market Report 2022 covers automotive V2X market drivers, automotive V2X market trends, automotive V2X market segments, automotive V2X market growth rate, automotive V2X market major players, and automotive V2X market size. The global automotive V2X market size is expected to grow from $619. The change in the automotive V2X market growth trend is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2021. id=5429&type=smpAutomotive V2X Global Market Report 2022 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
0
