According to a new market report published by Lucintel, the future of carbon fiber in the global automotive composites market looks promising with opportunities in various applications, including exterior, power train system, under body system, chassis system, pressure vessel, interior, and others. Carbon fiber in the global automotive composites market is forecast to grow at a CAGR of 10.4% from 2016 to 2021. The major growth drivers for this market are increasing automotive production and growing demand for lightweight materials due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions. Other major growth drivers include the growing demand for carbon fiber-reinforced plastics (CFRP) in luxury cars, race cars and other high-performance cars.
In this market, exterior, power train system, under body system, chassis system, pressure vessel, interior and others are the major applications. Based on Lucintel’s comprehensive research, exterior is expected to remain the largest market, and chassis system is expected to show the highest growth rate during the forecast period from 2016 to 2021.
Within carbon fiber market for automotive, sheet molding compound (SMC), short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and prepreg, are the major materials to manufacture automotive components. LFT is expected to remain the largest market by value and volume, mainly driven by applications where high strength-to-weight ratios and high resistance to chemicals, heat and corrosion have prime importance.
Europe is expected to remain the largest market due to growing demand for lightweight, environmentally sustainable composite materials from the automotive industry. 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 curb the overall vehicle weight, and this is the key driver for the use of carbon fiber in the automotive industry.
For business expansion, this report suggests innovation and new product development to produce hybrid, low cost, and recyclable carbon fiber for the automotive composites industry. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for customers.
Emerging trends, which have a direct impact on the dynamics of the industry, include development of transformative technologies and material systems to make carbon fiber parts for mass-volume vehicles. Toray, Hexcel, Cytec Solvey Group, SGL, DOWAKSA, Hyosung Corporation, Formosa Plastic Corp, and Composite Holding Company are among the major suppliers of carbon fiber in the global automotive composites market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities of carbon fiber in the global automotive composites market has come up with a comprehensive research report entitled “Growth Opportunities of Carbon Fiber in the Global Automotive Composites Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a springboard for growth strategy, as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for carbon fiber in the global automotive composites market by application, material and region as follows:
By Application Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
• Under the body systems
• Chassis System
• Power train system
• Pressure Vessel
By Material Type (Value ($M) and Volume (M lbs) from 2010 to 2021):
• Sheet Molding Compound (SMC)
• Short Fiber Thermoplastic (SFT)
• Long Fiber Thermoplastic (LFT)
By Region Type (Value ($M) and Volume (M lbs) from 2010 to 2021)
• North American
• Asia Pacific (APAC) and the Rest of the World (ROW)
This 190-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 firstname.lastname@example.org. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT Analysis.
This report answers following 11 key questions:
Q. 1. What are some of the most promising, high-growth segments in the market by application type (exterior, power train system, under body system, chassis system, pressure vessel, interior, and others), material (SMC, LFT, SFT, prepreg layup, RTM, and other thermosets, region (North America, Europe, and APAC/ROW)?
Q.2.Which 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, challenges, and business risks in this market?
Q.5.What are the business risks and competitive threats in this market?
Q.6.What are the emerging trends in this market and the reasons behind them?
Q.7.What are some of the changing demands of customers in the market?
Q.8.What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10.What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q. 11.What M & A activity has occurred in the last 5 years and what is its impact on the industry?