Lucintel Forecasts Carbon Fiber in the Global Automotive Composites Market to grow at a CAGR of 3.2%.

According to the recent study the carbon fiber in the global automotive composites market is projected to grow at a CAGR of 3.2% from 2020 to 2025. Growth in this market is primarily driven by increasing automotive production and growing demand for lightweight material due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions.

Browse 184 figures / charts and 103 tables in this 254 -page report to understand trends, opportunities and forecast in carbon fiber in the global automotive composites market by application (exterior, power train system, under body system, chassis system, pressure vessel, interior and others), by material (SMC, LFT, SFT, Prepreg and RTM and Other thermoset, regional (North America, Europe APAC/ROW), and region (North America, Europe, APAC/ROW).

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“Textile market is expected to remain the largest segment during the forecast period.”

Based on material, the carbon fiber in the global automotive composites market is segmented into textile, Long Fiber Thermoplastic (LFT), Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), prepreg, and other. Lucintel forecasts that the textile market is expected to remain the largest segment due to increasing demand in automotive exterior applications.

 

 

 

“Within the carbon fiber in the global automotive composites market, the exterior segment is expected to remain the largest application”

Based on application, the exterior segment is expected to witness the largest segment and highest growth over the forecast period due to increasing usage of carbon fiber in hood, fender, panel, roof, front end module, and wind shield.

“Europe will dominate the carbon fiber in the global automotive composites market in near future”

Europe is expected to remain the largest market and witness the highest growth over the forecast period due to the increasing production of luxury and sports car. Government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to reduce the vehicle weight.

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Major players of carbon fiber in the global automotive composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. SGL, Toray, Mitsubishi Rayon, Toho Tenax, Formosa Plastic, Hexcel, Cytec, DOWAKSA, Hyosung Corporation, and Composite Holding are among the major Carbon fiber in the global automotive composites providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carbon-fiber-in-the-global-automotive-market.aspx or helpdesk@lucintel.com