High Demand for Lightweight Vehicles to Benefit Automotive Carbon Fiber Composites Market Share

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Carbon fiber is a material consisting of thin, strong crystalline filaments of a few microns of carbon atoms, which are the strengthening element. It can significantly increase the fuel economy of the vehicle by reducing the vehicle weight. Increasing demand for environment-friendly solutions has influenced manufacturers to develop efficient carbon fiber composites. Whereas, high cost of manufacturing composite materials is the major challenge faced by the global Automotive Carbon Fiber Composites Market Share. Moreover, use of automotive composites in high end vehicle models is acting as a challenge to the growth. Currently, Asia pacific is dominating the market. Countries such as China and India gives these market a competitive advantage over the other regions. High usage of composites in vehicles, high automobile production levels are some of the factors which boom the market of Asia pacific. It is followed by North America and Europe region.

Global Automotive Carbon Fiber Composites Market Share is expected to grow with the CAGR of approximately 10.06% in the forecasted period.
The report has analyzed the market based on the three segments: Production Type, Application, and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of production type it includes Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, Injection Molding and Compression Molding. On the basis of Application it includes Structural Assembly, Power Train Components, Interior, Exterior and other. Whereas, Asia pacific region shows using automotive carbon fiber composites. The scope of the market has widened over many years owing to the flourishing markets of Asia pacific.

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Carbon-fiber composites is also called as carbon-fiber reinforced plastics or CFRP. It can be used in new applications as industries demand materials with higher strength to weight ratios, corrosion resistance, and workability. The implementation of stringent environmental regulations across the globe is propelling the demand for lightweight materials. Several international organizations are framing strict guidelines and standards to reduce the greenhouse gases emission. 

We recognize the key players in the global Automotive Carbon Fiber Composites Market Share- Cytec Industries (U.S.), SGL Carbon SE (Germany), Toray Industries, Inc. (Japan), ACP Composites, Inc (U.S.), Clearwater Composites, LLC (U.S.), Owens Corning (U.S.), HITCO Carbon Composites Inc (U.S.), Mitsubishi Rayon Carbon Fiber and Composites, Inc. (U.S.), Polar Manufacturing Limited (U.K.) and Rock West Composites (U.S.)

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