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.
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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 Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
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
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Carbon Revolution Ltd.
- DowAksa Advanced Composites Holdings BV
- Formosa Plastics Corp.
- Hexcel Corp.
- Hyosung Corp.
- Jiangsu Hengshen Co. Ltd.
- Mitsubishi Chemical Holdings Corp.
- Muhr Und Bender KG
- Nippon Carbon Co. Ltd.
- Polar Manufacturing Ltd.
- RTP Co.
- Solvay SA
- SGL Carbon SE
- Sigmatex Ltd.
- Taekwang Industrial Co. Ltd.
- Toray Industries, Inc.
- Teijin Ltd.
- UMATEX, ROSATOM State Corp.
- Weihai Guangwei Composites Co., Ltd.
- ZHONGFU SHENYING CARBON FIBER CO., LTD.
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global automotive carbon fiber market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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