According to a new market report published by
Lucintel, the future of carbon fiber in the global automotive composites market
looks promising with opportunities in various applications, including exterior,
power train system, under body system, chassis system, pressure vessel,
interior, and others. Carbon fiber in the global automotive composites market
is forecast to grow at a CAGR of 10.4% from 2016 to 2021. The major growth
drivers for this market are increasing automotive production and growing demand
for lightweight materials due to stringent government regulations to increase
fuel efficiency and reduce greenhouse gas emissions. Other major growth drivers include the growing
demand for carbon fiber-reinforced plastics (CFRP) in luxury cars, race cars
and other high-performance cars.
In this
market, exterior, power train system, under body
system, chassis system, pressure vessel, interior and others are the major
applications. Based on Lucintel’s comprehensive research, exterior is expected
to remain the largest market, and chassis system is expected to show the
highest growth rate during the forecast period from 2016 to 2021.
Within carbon fiber market for automotive,
sheet molding compound (SMC), short fiber thermoplastic (SFT), long fiber
thermoplastic (LFT), and prepreg, are the major materials to manufacture
automotive components. LFT is expected to remain the largest market by value
and volume, mainly driven by applications where high strength-to-weight ratios
and high resistance to chemicals, heat and corrosion have prime importance.
Europe is expected to remain the largest
market due to growing demand for
lightweight, environmentally sustainable composite materials from the automotive
industry. 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 curb the overall vehicle weight, and this is the key
driver for the use of carbon fiber in the automotive industry.
For business
expansion, this report suggests innovation and new product development to
produce hybrid, low cost, and recyclable carbon fiber for the automotive
composites industry. The report further suggests the development of
partnerships with customers to create win-win situations and the development of
low-cost solutions for customers.
Emerging
trends, which have a direct impact on the dynamics of the industry, include development
of transformative technologies and material systems to make carbon fiber parts
for mass-volume vehicles. Toray,
Hexcel, Cytec Solvey Group, SGL, DOWAKSA, Hyosung Corporation, Formosa Plastic
Corp, and Composite Holding Company are among the major suppliers of carbon
fiber in the global automotive composites market.
Lucintel,
a leading global strategic consulting and market research firm, has analyzed
growth opportunities of carbon fiber in the global automotive composites market
has come up with a comprehensive research report entitled “Growth
Opportunities of Carbon Fiber in the Global Automotive Composites Market
2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard
for growth strategy, as it provides a comprehensive data and analysis on
trends, key drivers, and directions. The study includes a forecast for carbon
fiber in the global automotive composites market by application, material and region
as follows:
By Application Type
(Value ($M) and Volume (M lbs) from 2010 to 2021):
- Interior
- Exterior
- Under the body systems
- Chassis System
- Power train system
- Pressure Vessel
- Others
By Material Type (Value ($M) and Volume (M
lbs) from 2010 to 2021):
- Sheet Molding Compound (SMC)
- Short Fiber Thermoplastic (SFT)
- Long Fiber Thermoplastic (LFT)
- Prepreg
- Others
By Region Type (Value
($M) and Volume (M lbs) from 2010 to 2021):
- North American
- Europe
- Asia Pacific (APAC) and the Rest of the World (ROW)
This
190-page 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 helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This report answers following 11 key
questions:
Q.
1. What are some of the most promising, high-growth segments in the market by application
type (exterior, power train system, under body
system, chassis system, pressure vessel, interior, and others), material (SMC, LFT, SFT, prepreg layup, RTM, and other thermosets, region (North
America, Europe, and APAC/ROW)?
Q.2.Which
segments will grow at a faster pace and why?
Q.3.Which
region will grow at a faster pace and why?
Q.4.What
are the key factors affecting market dynamics? What are the drivers, challenges,
and business risks in this market?
Q.5.What
are the business risks and competitive threats in this market?
Q.6.What
are the emerging trends in this market and the reasons behind them?
Q.7.What
are some of the changing demands of customers in the market?
Q.8.What
are the new developments in the market? Which companies are leading these
developments?
Q.9.
Who are the major players in this market? What strategic initiatives are key
players pursuing for business growth?
Q.10.What
are some of the competing products in this market and how big of a threat do they
pose for loss of market share by material or product substitution?
Q.
11.What M & A activity has occurred in the last 5 years and what is its
impact on the industry?
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