The global automotive carbon fiber composites market size is projected to expand at a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing usage of natural fibers that are eco friendly, rising concern for environment among people, and stringent rules and regulation regarding control of emission.
Carbon fiber Composites is combined with two materials that have different physical and chemical properties. They are majorly used for the replacement of steel and variety of heavy materials due to its high strength and weight ratio. The carbon fiber composites is combined for making special materials for doing some work to become stronger, resistant, and lighter along with it help to maintain the strength and stiffness in the vehicles.
Covid-19 has majorly impacted the automotive carbon fiber composites market. The worldwide lockdown has impacted the automobiles manufacturing which has decreased the growth of the automotive carbon fiber composites market. Many functioning has also been impacted due to lockdown including supply chain of vehicles, stoppage in production, and closed manufacturing plants.
Key Players Covered in the Report
Hexcel Corp.; SGL Carbon SE; Toray Industries Inc.; Mitsubishi Chemical Carbon Fiber and Composites Inc.; Teijin Ltd.; Delphi Technologies; 3B Fiberglass; General Motors Company; and Nippon Sheet Glass Co Ltd.
Market Segment Insights:
In terms of applications, the global automotive carbon fiber composites market is segmented into power train components, exterior, structural assembly, and interior. The exterior segment is expected to constitute a key share of the market in the coming years due to main components of the body of car such as door panels; fender, bumper beam, hood, and front end module are comprised of carbon fiber composite materials. The usage of carbon fiber composite materials increases the durability, lesser maintenance cost, and durability. On the other hand, the interior segment is projected to expand at a rapid pace in the coming years due to increasing demand for interior components that has light weight.
Based on production types, the market is segmented into compression molding, injection molding, hand layup, vacuum infusion processing, and resin transfer molding. The injection molding segment is expected to represent a key share of the market during the forecast period due to growing adoption in the automotive sector and rising operating temperatures. However, the compression molding segment is expected to expand at a rapid pace in the coming years owing to simple process and decreasing tool costs.
Get Sample Report @ Request For Sample of Automotive Carbon Fiber Composites Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast | Growth Market Reports
On the basis of regions, the global automotive carbon fiber composites market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of Europe is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to biggest producer of the motor vehicles and major industry operating in the region. On the other hand, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to rising fuel efficiency requirement as well as lightweight vehicles.
About Growth Market Reports:
Growth Market Reports provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. Growth Market Reports has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: sales@growthmarketreports.com
Web: https://growthmarketreports.com
Follow Us: LinkedIn | Twitter
0
