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?
