Carbon Fiber Market In Automotive Industry 2018 Leading Players Analysis: 3MB, Hexcel, Cytec Solvay, GURIT, SGL, Hyosung, DOWAKSA, Formosa Plastic, ZOLTEK, Toray, Axon, Plasan Carbon, Rivers Carbon, And Sigmatex

Carbon Fiber Market Research Report 2018 - Global Industry Trends, Size, Share, Sales and Regional Analysis with historic, and forecast data to 2023. Global Carbon Fiber Market is growing at 10.55% compound annual growth rate during forecast period of four years from 2018 To 2023. Carbon Fiber Market research report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, and key country outlook.

Carbon Fiber Market Key Players Analyzed in Report Are:

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

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Market Highlights:

Carbon Fiber industry is segmented by Material Type (Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), Prepreg, 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.

The dynamic utility of carbon fiber in the automotive industry can assist the global carbon fiber market to expand exponentially during the forecast period (2017-2023), asserts l Future (MRFR) in a minutely researched article. Composed of atoms about 5 to 10 micrometers in diameter, the carbon fiber is currently gaining advantageous ground in the automotive industry by impacting it in more than one way. Apart from adding strength to the car frames, it reduces the weight and consequently, carbon emission. These factors work in tandem with the global demand for eco-friendliness and assist the carbon fiber market in the optimal usage of the favorable conditions.

Carbon fibers are a blend of various materials and mainly act as composites with increased capabilities such as strength, five times greater than steel, which makes it an industry favorite. Its diverse utility in automotive exteriors, powertrain system, under body system, chassis system, and the interior mirrors its industrial credibility. The automotive industry is looking for a blend of previously assumed contrasting qualities such as reduced weight and sturdiness. In addition, the sector demands fuel efficiency and better operational facilities. Astonishingly the technological advancements have complied with the industrial need and assisted it to adhere the stringent government regulations as well. These features will undoubtedly propel the market further in the coming years.

However, the price can act like a major market deterrent and result in whistle-stop growth. But this factor cannot bog down the market for long as its extensive ingress in the automotive industry made it an integral part of the same.

Industry Trends:

The industry is spending much on research and development to counter the negatives substantially. In addition, it is trying to take a step even further in the direction of reducing carbon footprint. For instance, in National Renewable Energy Laboratory (NREL), researchers have developed a method to collect sugars derived from waste plant materials. By converting the sugar, researchers produce an intermediate called 3-hydroxy propionic acid (3-HP). The process then follows the inclusion of a catalyst and nitrilation and convert 3-HP to acrylonitrile which is cheaper. The method is endothermic and produces less heat and does not emit toxic byproduct such as hydrogen cyanide.

Researchers from Fraunhofer Institute for Applied Polymer Research IAP have developed an alternative method to produce polyacrylonitrile fiber (PAN) that reduces its production cost by 60% and in the process, curbing the resulting price of the carbon fiber.

Market Segmentation:

The carbon fiber in the automotive market can be segmented by material type, application type, and vehicle type.

By material type, the market can be segmented further into sheet molding compound (SMC), short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), prepreg, and others. LFT’s higher strength, high resistance to chemicals, heat, and corrosion can help it retain its top position during the forecast period.

Based on application, the market includes exterior, power train system, under body system, chassis system, interior, and others. Exteriors are expected to dominate the market owing to the growing demand for the same from the automotive industry.

Regional Analysis:

Geographically, the market spans across regions namely North America, Europe, Asia Pacific (APAC) and Rest-of-the-World.

The APAC is anticipated to dominate the market in the coming years owing to the massive productional increase of the commercial and passenger vehicles in countries such as India, China, and Japan. Demand for the carbon fibers from such a booming industry can act as a catalyst.

Europe currently holds the second position. The region has strict policies regarding the greenways, and the manufacturers must abide by quite a few regulations to produce cars. Such impositions lead to further research and development of the carbon fiber industry and expand the market in the process.

North America has the third largest market, and the revamped automotive sector is expected to drive the market further during the forecast period.

Competitive Landscape

The global Carbon Fiber Market is highly competitive. The market players are leveraging various strategies such as acquisitions, partnerships, and investments to stay ahead of the competition in the global Carbon Fiber Market. The market participants are trying to come up with advancements in the Carbon Fiber.

TABLE OF CONTENTS:

1 EXECUTIVE SUMMARY

2 SCOPE OF THE REPORT

2.1 MARKET DEFINITION

2.2 SCOPE OF THE STUDY

2.2.1 DEFINITION

2.2.2 RESEARCH OBJECTIVE

2.2.3 ASSUMPTIONS

2.2.4 LIMITATION

2.3 RESEARCH PROCESS

2.3.1 PRIMARY RESEARCH

2.3.2 SECONDARY RESEARCH

2.4 MARKET SIZE ESTIMATION

2.5 FORECAST MODEL

3 MARKET LANDSCAPE

3.1 PORTER’S FIVE FORCES ANALYSIS

3.1.1 THREAT OF NEW ENTRANTS

3.1.2 BARGAINING POWER OF BUYERS

3.1.3 THREAT OF SUBSTITUTES

3.1.4 SEGMENT RIVALR

3.1.5 BARGAINING POWER OF BUYERS

3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS

4 MARKET DYNAMICS

4.1 INTRODUCTION

4.2 MARKET DRIVERS

4.3 MARKET RESTRAINTS

4.4 MARKET OPPORTUNITIES

4.5 MARKET TRENDS

Continued...

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