Automotive Carbon Fiber Market Worth $64.05 Billion Globally by 2032 with Impressive 11.16% CAGR

Automotive Carbon Fiber Market Trend

OREGAON, PORTLAND, UNITED STATES , April 12, 2024 /EINPresswire.com/ — Allied Market Research published a report, titled, “Automotive Carbon Fiber Market by Vehicle Type (Passenger Vehicle, Commercial Vehicle, and Two-Wheelers), Material (Polyacrylonitrile (PAN), Pitch), Sales Channel (OEM, Aftermarket), and Application (Structural Assembly, Powertrain Components, Interior and Exterior) and Region. Global Opportunity Analysis and Industry Forecast, 2023-2032″.

𝐀𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐭𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐚𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐜𝐚𝐫𝐛𝐨𝐧 𝐟𝐢𝐛𝐞𝐫 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐬𝐢𝐳𝐞 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞𝐝 $𝟐𝟒.𝟏𝟑 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟐 𝐚𝐧𝐝 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞 $𝟔𝟒.𝟎𝟓 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐰𝐢𝐭𝐧𝐞𝐬𝐬𝐢𝐧𝐠 𝐚 𝐂𝐀𝐆𝐑 𝐨𝐟 𝟏𝟏.𝟏𝟔% 𝐟𝐫𝐨𝐦 𝟐𝟎𝟐𝟑 𝐭𝐨 𝟐𝟎𝟑𝟐.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/A12796

The carbon fibers are widely used in the automobile sector for making automotive components. This is attributed to the fact that aluminum-based carbon fiber possesses high strength to weight ratio and helps in increasing efficiency of vehicles. Rise in production of lightweight vehicles across the globe fuels the demand for carbon fibers in the automotive sector. This is attributed to the fact that vehicles built using materials with low weight and high strength deliver higher mileage and enhance fuel efficiency.

The global automotive carbon fiber market has seen significant growth and change owing to surge in adoption of carbon fiber in automobiles, stringent government regulations on emission norms. However, the high cost of carbon fibers hampers the market growth. In addition, growth in sales of zero emission vehicles presents significant opportunities for market expansion.

𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐀𝐮𝐭𝐨𝐦𝐨𝐭𝐢𝐯𝐞 𝐂𝐚𝐫𝐛𝐨𝐧 𝐅𝐢𝐛𝐞𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

◼️ Leading companies in the industry are implementing various strategies, including product launches, acquisitions, agreements, expansions, partnerships, contracts, and collaborations, to strengthen their market positions.

◼️ In 𝐌𝐚𝐫𝐜𝐡 𝟐𝟎𝟐𝟑, SGL Carbon launched the carbon fiber named SIGRAFIL C T50-4.9/235, known for its exceptional elongation (2.0%) and strength (4.9 GPa) standards. This carbon fiber finds widespread use in automotive applications.

◼️ In 𝐎𝐜𝐭𝐨𝐛𝐞𝐫 𝟐𝟎𝟐𝟑, TORAY INDUSTRIES, INC. expanded its operations by introducing a new production facility in Gumi, North Gyeongsang Province. This production facility is dedicated to producing carbon fibers for car body parts, contributing to the company’s growth and market presence.

𝐓𝐡𝐞 𝐏𝐨𝐥𝐲𝐚𝐜𝐫𝐲𝐥𝐨𝐧𝐢𝐭𝐫𝐢𝐥𝐞 (𝐏𝐀𝐍) 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐦𝐚𝐭𝐞𝐫𝐢𝐚𝐥, the polyacrylonitrile (PAN) segment held the highest market share in 2022, and the highest CAGR of 11.39% and is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, owing to their high strength, low heat expansion, moisture absorption, lightweight, specific strength, ease of use, and thermal conductivity. However, the pitch segment is expected to witness a CAGR of 10.21% as the pitch-based carbon fiber offers exceptional mechanical properties, including high tensile strength and modulus. These properties make it desirable for high-performance applications that require excellent structural integrity.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/automotive-carbon-fiber-market/purchase-options

𝐓𝐡𝐞 𝐭𝐰𝐨-𝐰𝐡𝐞𝐞𝐥𝐞𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 𝐬𝐭𝐚𝐭𝐮𝐬 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the two-wheeler segment held the highest market share in 2022, and the highest CAGR of 11.72% and is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, as these are generally less costly when compared with other vehicle types and serve as an economical option. In addition, two-wheelers serve various riding purposes, which include daily commuting, off-road riding, long-distance traveling, cruising, and others. However, the passenger vehicle segment is expected to witness significant growth at a CAGR of 10.76% owing to enhanced lifestyles and economic conditions, which are driving shifts in consumer preferences worldwide.

𝐓𝐡𝐞 𝐎𝐄𝐌 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐚𝐥𝐞𝐬 𝐜𝐡𝐚𝐧𝐧𝐞𝐥, the OEM segment held the highest market share in 2022, and the highest CAGR of 11.25% is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, The OEMs use these carbon fiber materials directly during the manufacturing process. OEMs are focusing on developing lightweight vehicles that are technologically advanced to cater to the needs of the consumers for instance development of the autonomous vehicles. Thus, there is a high demand for the deployment of carbon fibers in the automotive assembly line. However, the aftermarket segment is expected to witness a significant CAGR of 10.97% as the integration of advanced technologies in auto parts manufacturing, coupled with an increase in consumer demand and the production and sales of passenger automobiles is propelling the growth of aftermarket services.

𝐓𝐡𝐞 𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐚𝐥 𝐚𝐬𝐬𝐞𝐦𝐛𝐥𝐲 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐥𝐞𝐚𝐝 𝐩𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, the structural assembly segment held the highest market share in 2022, and the highest CAGR of 11.55% is estimated to maintain its leadership status throughout the forecast period 2023 to 2032, as the carbon fiber structural components are available in a diverse range of shapes and sizes, offering an ideal solution for enhancing strength and rigidity in designs without adding additional weight. However, the powertrain components segment is expected to witness a significant CAGR of 11.45% owing to the rising trend towards engine downsizing to enhance fuel efficiency and reduce emissions.

𝐄𝐮𝐫𝐨𝐩𝐞 𝐭𝐨 𝐦𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐝𝐨𝐦𝐢𝐧𝐚𝐧𝐜𝐞 𝐛𝐲 𝟐𝟎𝟑𝟐

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐠𝐢𝐨𝐧, Europe segment held the highest market share in 2022, growing a CAGR of 10.68% owing to the strict emissions regulations that have further accelerated this shift towards cleaner and more fuel-efficient modes of transport. However, Asia-Pacific is expected to witness the highest CAGR of 12.77% throughout the forecast period owing to continuous advancements in carbon fiber manufacturing technologies, improved production processes, and sales of vehicles.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠- https://www.alliedmarketresearch.com/purchase-enquiry/A12796

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬: –

Toray Industries, Inc.

Nippon Graphite Fiber Co., Ltd.

Hyosung Advanced Materials

Hexcel Corporation

SGL Carbon

Solvay S.A.

DowAksa Advanced Composite Holdings BV

Formosa Plastics Corporation

Mitsubishi Chemical Corporation

Teijin Limited

The report provides a detailed analysis of these key players in the global automotive carbon fiber market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

🟧The automotive carbon fiber market study encompasses 14 countries, providing regional and segment analysis for each country in terms of value ($million) during the projected period from 2023 to 2032.
🟧The study integrates high-quality data, professional opinions, and analysis, along with critical independent perspectives. The research approach aims to present a well-balanced view of global markets, assisting stakeholders in making informed decisions to achieve their ambitious growth objectives.
🟧A comprehensive review of over 3,700 product literature, annual reports, industry statements, and other comparable materials from major industry participants was conducted to enhance the understanding of the market dynamics.

David Correa
Allied Market Research
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