Global Automotive Carbon Fiber Market: Overview
In the recent times, the global market for automotive carbon fiber has reported a considerable upswing in its size and valuation, thanks to the continual expansion in the automotive industry across the world. With the rising demand for automobiles, the global market is likely to remain registering a high rise over the next few years.
This research study on the worldwide market for automotive carbon fiber offers an in-depth and unbiased assessment of this market on the basis of its previous and current performance. Researchers have also examined the most prominent trends and the growth prospects of this market in a bid to predict its future status in this market study.
Global Automotive Carbon Fiber Market: Trends and Opportunities
The demand for PAN-type carbon fibers is significantly high as these carbon fibers possess a high tensile strength and an excellent elastic modulus. In terms of elastic modulus, ultra-high elastic modulus-based carbon fibers are witnessing a relatively higher demand than other products as they possess almost ten times more elastic modulus than steel. With their extensive utilization in high-strength applications, these fibers are likely to remain reporting high demand in the years to come.
Global Automotive Carbon Fiber Market: Future Potential
The automotive industry has surfaced as the main end user of automotive carbon fibers, worldwide. These fibers are extensively utilized in the production of interior components of automobiles. Since, the automotive industry is currently witnessing a massive rise; the demand for automotive carbon fibers is likely to augment substantially in the years to come. The increasing demand for high-end passenger vehicles, especially passenger cars, will create a high requirement for automotive carbon fibers in the near future, which will reflect greatly on the growth of the global market over the next few years.
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Global Automotive Carbon Fiber Market: Regional Outlook
The global market for automotive carbon fiber has its presence across Asia Pacific (APAC), Latin America, North America, Europe, and the Middle East and Africa (MEA). Thanks to the significantly expanding automotive industry, Asia Pacific has been leading the global market and is expected to remain on the top position over the next few years. The constant rise in the trend of owing a vehicle among people, thanks to their increasing disposable incomes, is likely to support the growth of this regional market in the near future. Other regional markets are also projected to observe steady growth in the years to come.
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Global Automotive Carbon Fiber Market: Competitive Analysis
The global market for automotive carbon fiber is highly competitive, thanks to the presence of a large pool of participants. Zoltek Corp., SGL Group, Toho Tenax Europe GmbH, Formtex Plastics Corp., Mitsubishi Chemical Carbon Fiber and Composites Inc., Hexcel Corp., Solvay, DowAksa, Zhongfu Shenying Carbon Fiber Co. Ltd., Hyosung, and Jiangsu Hengshen Fibre Materials Co. Ltd. are some of the leading vendors of automotive carbon fiber across the world.