Opportunities for carbon fiber in the global automotive market is expected to grow at a CAGR of 7.9% by 2023

According to a new market report published by Lucintel, the future of carbon fiber in the global automotive market looks promising with opportunities in the exterior, interior, chassis, powertrain, and under body system market. Carbon fiber in the global automotive market is expected to grow at a CAGR of 7.9% from 2018 to 2023. The major growth drivers for this market are increasing automotive production and growing demand for lightweight material due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions.

Carbon fiber is used as roving as well as in form of intermediate materials such as textile, prepreg, and compounds (LFT, SMC, and SFT).  Lucintel forecasts that the carbon fiber textile is expected to remain the largest market by value and volume due to increasing demand in automotive exterior applications.

Within this market, exterior will remain the largest application by value and volume due to increasing usage of carbon fiber in hood, fender, panel, roof, front end module, and wind shield. Lucintel predicts that the demand for carbon fiber in chassis application is expected to experience the highest growth in the forecast period.

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.

Emerging trends, which have a direct impact on the dynamics of the industry, include development of hybrid, low cost, and recyclable carbon fiber for automotive market.  SGL, Toray, Mitsubishi Rayon, Toho Tenax, Formosa Plastic, Hexcel, Cytec, DOWAKSA, Hyosung Corporation, and Composite Holding are among the leading suppliers of carbon fiber in the global automotive market.

Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of carbon fiber in the global automotive market by application, by material, and by region, and has come up with a comprehensive research report “Growth Opportunities of Carbon Fiber in Global Automotive Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.

The study includes market trends and forecasts for carbon fiber in the global automotive market segmented by application, material, and region as follows:

By Application (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

•          Exterior
•          Chassis system
•          Interior
•          Pressure vessel
•          Power train system
•          Under body system
•          Others

By Material (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

•          Textile
•          Long Fiber Thermoplastic (LFT)
•          Sheet Molding Compound (SMC)
•          Short Fiber Thermoplastic (SFT)
•          Prepreg
•          Other

By Region (Volume (M lbs) and $M shipment analysis for 2012 to 2023):

•          North America
•          Europe
•          Asia Pacific (APAC)/ Rest of the World (ROW)

This 254 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 the following 11 key questions:

Q.1.What are some of the most promising, high-growth of 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) and why?

Q.2.Which application 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 and challenges in the market?

Q.5.What are the business risks and competitive threats in this market?

Q.6.What are emerging trends in this market and reasons behind them?

Q.7.What are some changing demands of customers in the market?

Q.8.What are the new developments in the market and which companies are leading these developments?

Q.9.Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?

Q.10.What are some of the competitive products in this market and how great of a threat do they pose for loss of market share through product substitution?

Q.11.What M & A activities have transpired in the last 5 years in this market and how have they affected the industry?