What is Global Automotive Carbon Fiber Materials Market?
The Global Automotive Carbon Fiber Materials Market is a vast and dynamic sector that plays a crucial role in the automotive industry. Carbon fiber materials, known for their high strength-to-weight ratio, are increasingly being used in the manufacturing of various automotive components. This market encompasses the production, distribution, and use of these materials on a global scale. The market's value was pegged at US$ 1964.4 million in 2022, and it is projected to grow to US$ 2738.1 million by 2029. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 4.8% from 2023 to 2029. The market is dominated by five major players - Toray, Mitsubishi Rayon, Teijin, SGL, and Hexcel, who collectively hold about 94% of the market shares.
Thermosetting Type, Thermoplastics Type in the Global Automotive Carbon Fiber Materials Market:
The Global Automotive Carbon Fiber Materials Market is segmented into two types based on the kind of polymer used - Thermosetting Type and Thermoplastics Type. Thermosetting type carbon fiber materials are those that once cured or hardened cannot be remelted or remolded, making them ideal for high-heat applications. On the other hand, Thermoplastics type carbon fiber materials can be heated and reshaped multiple times, making them versatile and recyclable. Both these types have their unique advantages and are chosen based on the specific requirements of the automotive component being manufactured. The choice between these two types significantly impacts the performance, cost, and manufacturing process of the automotive component.
Roof Panel, Body Panel, Hood, Chassis, Other in the Global Automotive Carbon Fiber Materials Market:
The use of carbon fiber materials in the automotive industry is widespread. They are used in the manufacturing of various components such as Roof Panel, Body Panel, Hood, Chassis, and others. The Roof Panel and Body Panel made from carbon fiber materials are lightweight yet strong, improving the vehicle's fuel efficiency and safety. The Hood made from these materials is resistant to corrosion and can withstand high temperatures, making it durable. The Chassis, which is the vehicle's base frame, made from carbon fiber materials, is robust and lightweight, enhancing the vehicle's performance. Other components like door panels, trunk lids, and fenders are also made from these materials for similar benefits.
Global Automotive Carbon Fiber Materials Market Outlook:
The future of the Global Automotive Carbon Fiber Materials Market looks promising, with a steady growth rate projected from 2023 to 2029. The market, which was valued at US$ 1964.4 million in 2022, is expected to reach US$ 2738.1 million by 2029. This growth is anticipated to occur at a CAGR of 4.8%. The market is largely dominated by five key players - Toray, Mitsubishi Rayon, Teijin, SGL, and Hexcel. These companies collectively hold a whopping 94% of the market shares, indicating their significant influence on the market trends and dynamics.
| Report Metric | Details |
| Report Name | Automotive Carbon Fiber Materials Market |
| Accounted market size in 2022 | US$ 1964.4 in million |
| Forecasted market size in 2029 | US$ 2738.1 million |
| CAGR | 4.8% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Toray, Mitsubishi Rayon, Teijin, SGL, Hexcel |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
