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(Transportation-News.com, October 22, 2019 ) Market Overview:
Carbon Fiber is a polymer and is sometimes known as graphite fiber. It is a very strong material that is also very lightweight. Carbon fiber is five-times stronger than steel and twice as stiff. Though carbon fiber is stronger and stiffer than steel, it is lighter than steel; making it the ideal manufacturing material for automotive industry.
Market Dynamics:
The Automotive Carbon Fiber market growth is primarily driven by various technological advancements happening in the industry coupled with launch of new and innovative Carbon Fiber for automobiles by the market players. Moreover, growing demand for carbon fiber-reinforced plastics in luxury cars, race cars and other high-performance cars pushing the market towards growth. Technological development and new material systems to make carbon fiber parts for mass-volume vehicles have direct impact on the dynamics of the automotive composites carbon fiber market.
However, various microeconomic factors and high initial cost might hinder the market growth. For instance, India’s passenger vehicle industry suffered its worst sales performance in nearly 19 years in 2019 as a slowing economy, higher ownership costs, and floods in some states deterred buyers.
Market Segmentation:
By application, the Automotive Carbon Fiber market is segmented into exteriors, interiors, structural assembly, powertrain cowl, and others (under body system, pressure vessel). In 2018, Exterior segment accounted for the majority share in the global market. Carbon fiber body panels are used on performance-oriented vehicles because they are approximately twice as rigid, significantly stronger but is much lighter than panels made from steel and is also more rigid, stronger and lighter than aluminum panels. Reduced weight increases the performance as the engine will have less weight to carry and it will get better fuel efficiency.
By material, the Automotive Carbon Fiber market is segmented into long fiber thermoplastic, short fiber thermoplastic, continuous carbon fiber thermoplastic, sheet molding compound, and others (textile, Prepreg). Carbon fiber-reinforced plastics (CFRPs) are finding their way into new applications as industries demand materials with ever-higher strength-to-weight ratios, corrosion resistance, and workability. The widespread adoption of CFRPs in alternative vehicles such as electric/hybrid and fuel cell vehicles, and CO2 emission regulations mandated by the European and U.S. parliaments are also expected to drive the automotive carbon fiber market globally.
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Geographical Analysis:
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and the Middle East and Africa.
In 2018, APAC dominated the global Automotive Carbon Fiber market. In addition, China is the leading country in the region as well as globally. Most of the product demand in Asia Pacific is fulfilled by China, India, South Korea, and Japan. China is the number one automotive market, with 300 million cars on the road (vs. 270 million in the US) and production of 24.8 million vehicles in 2017, compared to 11.2 million in the US, 8.4 million in Japan, almost 5.7 million in Germany, and 4 million and 3.7 million in India and South Korea, respectively.
In North America and Europe, the automotive industry continues to develop composites for light-weighting vehicles, driven by fuel economy and emissions regulations. For instance, EU emissions regulations mandate a mere 95 g/km of CO2 by 2021, with another 15% reduction by 2025, and in 2030, a further 30% reduction from 2021.
Competitive Analysis:
Some major players in the market are Hexcel Corporation, Mitsubishi Chemical Corporation, SGL Carbon SE, Teijin Limited, Toray Industries Inc., A&P Technology Inc, DowAksa USA LLC, Solvay, Kemrock Industries and Exports Limited, Cytec Industries Inc, and among others.
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Sai Kiran
+1 877 441 4866
pr@datamintelligence.com
Source: EmailWire.Com 
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