Japan automotive carbon fiber market is estimated to grow significantly during the forecast period. The major factor that further propels the market growth includes the rising preference towards lightweight vehicles for fuel efficiency and the growing demand for electric vehicles in the country. The use of light composites in automotive can encourage advanced emission control systems, integrated electronic systems, and safety devices without rising vehicle’s overall weight. Owing to the stringent environmental concerns, the demand for carbon fiber in automotive applications is estimated to grow significantly, which in turn, will drive the growth of the market.
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Japan automotive carbon fiber market is segmented on the basis of raw material, fiber type, and application. On the basis of raw material, the market is sub-segmented into PAN and petroleum pitch & rayon. PAN is the predominant precursor for carbon fiber due to superior strength and stability, and higher carbon yield. PAN-based carbon fiber is widely used in the automotive industry. Based on the fiber type, the market is classified into virgin automotive carbon fiber and recycled automotive carbon fiber. Based on the application, the market is classified into the interior, exterior, structural assembly, and others.
The companies which are contributing to the growth of the Japan automotive carbon fiber market include Teijin Ltd., Toray Industries, Inc., Hyosung Corp., Jiangsu Hengshen Co. Ltd., HONGFU SHENYING CARBON FIBER CO., LTD., Weihai Guangwei Composites Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market.
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Japan Automotive Carbon Fiber Market Segmentation
By Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
By Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon fiber
By Application
- Interior
- Exterior
- Structural Assembly
- Others (Powertrain Components)
