The global market for automotive carbon fiber is projected to have a considerable CAGR of over 8.5% during the forecast period. The market is mainly driven by the increasing application of carbon fiber materials in automotive components, growing g adoption of lightweight vehicles across the globe. Advanced materials are essential for boosting the fuel economy of modern automobiles while maintaining safety and performance. Lightweight composites are crucial to boost the fuel economy and maintain the set safety standards and performance of modern automobiles. To accelerate a lighter object, less energy is needed rather than acceleration of heavier one, therefore lightweight composite materials, such as carbon fiber, deliver a significant potential to increase the efficiency of vehicles. Further, the carbon fiber material is increasingly used in EVs (electric vehicles) that will further provide a significant opportunity to the market.
Segmental Outlookhttps://www.omrglobal.com/request-sample/automotive-carbon-fiber-market
The global automotive carbon fiber market is segmented based on raw material, fiber type, and application. On the basis of raw material, the market is sub-segmented into PAN and petroleum pitch & rayon. Among these PAN segment is estimated to hold a significant share in the global automotive carbon fiber market. The low cost and high productivity of the PAN as a precursor for the production of carbon fiber is a key factor for the high share of the PAN in the raw material segment. Based on the fiber type, the market is further classified into virgin carbon fiber and recycled carbon fiber. Based on application the market is further segregated into the interior, exterior, structural assembly, and others.
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Market Segmentation
Global Automotive Carbon Fiber Market by Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
Global Automotive Carbon Fiber Market by Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon fiber
Global Automotive Carbon Fiber Market by Application
- Interior
- Exterior
- Structural Assembly
- Others (Powertrain Components)
Regional Analysis
North America
- United States
- Canada
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