Carbon Fiber Market: 2018 Global Automotive Industry Analysis To 2023 - Size, Share, Competitive Analysis, Growth Factors, Key Players And Regional Forecast Report

Carbon Fiber Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023. Global Carbon Fiber Market is growing at Staggering CAGR within forecast period of 2018 to 2023. This growth of Global Carbon Fiber Market is attributed to increased safety in the vehicle, growing technology development, increase in the sales of vehicle, and rise in government regulations to meet fuel efficiency of the vehicle. Growing technology for light weight material is expected to drive the market in the future.

Market Scenario:

Carbon Fiber Market 2018 - Global forecast to 2023 report 100 pages report provides Global Carbon Fiber Market Information by Material Type (Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), and Others), Application Type (Exterior, Power Train System, Under Body System, Chassis System, Interior, And Others), Vehicle Type (Passenger Car and Commercial Vehicle), and region.

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The high demand for carbon fiber in automotive domain is due to the growth in the lightweight and durable vehicle technology. A carbon fiber in automotive is capable of high stiffness, high tensile strength, light weight, high strength-to-weight ratio, high strength and tolerance at high temperature. The better performance, less use of energy, and improved fuel efficiency are estimated to gain higher popularity during the forecast period. Focus towards the changing aerodynamic nature of vehicle and widespread use of low weight vehicle, enhance the growth of the carbon fiber in automotive market for automotive sector. However, the high cost acts as a barrier for the growth of carbon fiber in automotive market.

Major Players Analyzed In Study Are: Toray (Japan), Hexcel (U.S.), Cytec Solvey Group (U.S.), SGL (Germany), DOWAKSA (Turkey), Hyosung Corporation (South Korea), Formosa Plastic Corp (Taiwan), and Holding Company "Composite" (Russia), ZOLTEK (U.S.), Axon (U.K.), Plasan Carbon Composites (U.S.), 3MB Co., Ltd. (Thailand), GURIT (Switzerland), Rivers Carbon Technologies (New Zealand), and Sigmatex Ltd (England).

Market Research Analysis:

The automotive carbon fiber in automotive market is completely dependent on the usage of composite materials to improve fuel efficiency. Thus, the increasing or decreasing demand of the composite materials directly has an impact on the market. Moreover, the increase in the sales of carbon fiber in automotive has mainly been because of popularity of motorsports industry. Another factor responsible for the increase in carbon fiber in automotive is due to increased safety in the vehicle, growing technology development, increase in the sales of vehicle, and rise in government regulations to meet fuel efficiency of the vehicle.

The carbon fiber in automotive market is segmented based on material type, application type, vehicle type, and region. On the basis of material type, the market is segmented based on Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), Prepreg, and Others. LFT is expected to dominate the carbon fiber in automotive market during the forecast period. It is used where there is prime requirement for higher strength, high resistance to chemicals, heat and corrosion.

Regional Analysis:

Europe is referred to as the second-largest low speeds market due to an increase in demand for light weight vehicle body parts which have fuelled the demand for carbon fiber in automotive in the country. Asia-Pacific market is dominating the market of carbon fiber in automotive due to rise in production of passenger and commercial vehicles in emerging countries such as India, China and Japan. Development of lightweight materials in public transport in developing economies are driving the market for carbon fiber in automotive. The market in the developing countries is largely driven by government initiatives and infrastructure development, which helps in production of carbon fiber in automotive and other manufacturing output.

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