Carbon Fiber Market In Automotive: 2018 Industry Analysis By Global Top Leading Players - Toray, Hexcel, Cytec Solvey, SGL, DOWAKSA, Hyosung, Formosa, ZOLTEK, Axon, Plasan Carbon Composites, GURIT, And Rivers Carbon Technologies

Carbon Fiber Market is growing rapidly across the world according to a recent study report published by the Market Research Future on “Carbon Fiber Market Research Report - Global Forecast to 2023”. Carbon Fiber Global Market 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. Global Carbon Fiber Market to witness steady growth from 2018 to 2023. Report provides Carbon Fiber Market Scope, Stake, Industry Statistics, Progress, and Trends analysis to 2023.

Carbon Fiber Market Key Manufacturers Studied in This Research Report 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).

Get Sample Copy of “Carbon Fiber Market Research Report - Forecast to 2023” at: https://www.marketresearchfuture.com/sample_request/5390

Global Carbon Fiber Market Overview:

A carbon fiber is composed of carbon atoms with about 5 to 10 micrometers in diameter. There are various advantages of using carbon fiber in automotive, which include high stiffness, high tensile strength, reduced weight, and tolerance at high temperature. These properties of carbon fiber have resulted in its increased use in the automotive industry.

However they are more expensive than other materials. They are usually composed with other materials to form a composite. The composition with other materials increases the capability of the materials. Carbon fibers are about five times stronger than steel and other materials. This property encourages the automotive manufacturers to use carbon fiber in increasing the performance of the vehicle. The carbon fiber has various applications such as the exteriors, power train system, under body system, chassis system, and the interior. The increase in use of carbon fiber in automotive industry, is expected to drive the market in near future.

The factors supporting the growth of carbon fiber in automotive, are 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 growing technology for light weight material is expected to drive the market in the future. The lightweight materials help increase the fuel efficiency and the performance of the vehicle. This increased performance will drive vehicle purchase, which will drive the market.

There has been an increase in the government regulations to meet the fuel efficiency of the vehicle. The Institute for Advanced Composites Manufacturing Innovation (IACMI) has aimed to decrease the cost of composite fiber to reduce the overall cost of the automotive components. Increase in vehicle sales is also expected to drive the carbon fiber in automotive market during the forecast period. The increase in sales of vehicle will result in growing demand of carbon fiber in the vehicle due to the light weight property. This increase demand will result in the growth of the market in future.

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. This property of LFT will increase the demand of this segment in future. On the basis of application type, the market has been segmented as exterior, power train system, under body system, chassis system, interior, and others. Exterior segment is expected to dominate the market in future due to increased demand for carbon fire in exterior components.

Market Research Analysis:

On the basis of region, the market has been segmented into the regions of North America, Asia Pacific, Europe, and Rest of the World.

Asia Pacific is expected to dominate the carbon fiber in automotive market in future due to the stringent government regulations for carbon dioxide. The reduction of carbon dioxide is directly related to the overall weight of the passenger and commercial vehicles. The reduction in the weight of the vehicle will result in low carbon dioxide, which will meet the government standard. Many manufacturers in Asia Pacific are developing vehicles with reduced weight to meet the stringent regulation. This increase in demand for low weight vehicles will result in the growing demand for carbon fiber in automotive. Europe is expected to be the second largest market due to the growing demand for light weight vehicles.

In Europe, Germany is known for its outstanding automotive industry and engineering. The German cars are highly valued due to the innovation, reliability, safety, and design. In Europe, Germany is one of the leading countries for production and sales of vehicles.

World class R&D infrastructure, and highly qualified workforce, have created incomparable automotive environment. This will boost the production of automotive vehicle, in future, which will result in increased use of carbon fiber in automotive. North America is expected to be the third largest market in carbon fiber due to factors such as low interest rate and low fuel price, which have allowed the market to grow during the forecast period.

Major Table Of Content:

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 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

Continued…

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