Press release
Automotive Carbon Fiber Composites Parts Market: A Sizable Leap from $22.96 billion to $26.7 billion in 2025 with CAGR of 16.3%
Automotive Carbon Fiber Composites Parts Market
What Is The Projected Market Size Of The Global Automotive Carbon Fiber Composites Parts Market And Its Growth Rate?
The automotive carbon fiber composites parts market has experienced significant growth and is set to continue this trend.
• The market size has grown from $22.96 billion in 2024 to an estimated $26.7 billion in 2025.
• The Compound Annual Growth Rate (CAGR) is projected at 16.3%.
• The dramatic growth can be attributed to factors such as weight reduction in vehicles, growing electric vehicle demand, and stringent emission standards.
• By 2029, the market size is expected to further increase to $48.38 billion with a CAGR of 16.0%.
What Is Driving The Growth In The Automotive Carbon Fiber Composites Parts Market?
Surging demand for electric vehicles is significantly driving the growth of the automotive carbon fiber composites parts market. Electric vehicles, which utilize parts made from carbon fiber composites to reduce weight and energy consumption, have seen an upward trend. For instance, in Q3 of 2023, the U.S. Energy Information Administration declared an increase in the share of battery-electric vehicles (BEVs) in new light-duty vehicle sales to 17.7%, with BEVs accounting for 16.0% of total new vehicle sales in the year. This surge in demand for electric vehicles is driving the automotive carbon fiber composite parts market.
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Who Are the Key Players Driving Automotive Carbon Fiber Composites Parts Market Growth?
Key players influential in the automotive carbon fiber composites parts market include:
• Plasan Carbon Composites Inc.
• Faurecia SE
• Toray Industries Inc.
• Mitsubishi Chemical Carbon Fiber and Composites
• SGL Carbon
• and many others
What Are The Key Trends In The Automotive Carbon Fiber Composites Parts Market?
Several major trends are influencing growth in this market:
• Increasing adoption in electric vehicles (EVs)
• Manufacturing technology advancements
• Integration in structural components
• Collaborations and partnerships
• Cost reduction initiatives, recycling and sustainability
What Are The Segments Of The Global Automotive Carbon Fiber Composites Parts Market?
The market has been segmented for effective analysis into the following categories:
• By Type: Brake Discs, Brake Pads, Battery Housing, Mirror Housing, Chassis, Pillars, Other Types
• By Resin: Thermoplastic, Thermoset
• By Application: Original Equipment Manufacturer (OEM), Aftermarket
Which Region Leads The Automotive Carbon Fiber Composites Parts Market?
Europe was the largest region in the automotive carbon fiber composites parts market in 2024. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What Is Covered In The Automotive Carbon Fiber Composites Parts Market Global Market Report?
- Market Size Analysis: Analyze the Automotive Carbon Fiber Composites Parts Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Automotive Carbon Fiber Composites Parts Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Automotive Carbon Fiber Composites Parts Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Automotive Carbon Fiber Composites Parts Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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