Carbon Fiber in Automotive Industry Global Market Size, Share, Trends Analysis 2

Posted by Abhijeet Bendre on November 13th, 2018

Carbon Fiber in Automotive Market 2018 Global Industry Size, Growth, Trends, Share, and Regional Forecast To 2023 is report published by Market Research Future. Global Carbon Fiber in Automotive Market Research Report – by Material Type (Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT),  Prepreg, and Others), Application Type (Exterior, Power Train System, Under Body System, Chassis System, Interior, And Others), Vehicle Type (Passenger Car and Commercial Vehicle), and region.

Global Carbon Fiber in Automotive Market Key Players Analyzed In Report:

Toray (Japan), Hexcel (U.S.), Cytec Solvey Group (U.S.), SGL (Germany), DOWAKSA (Turkey), Hyosung Corporation (South Korea), Formosa Plastic Corp (Taiwan), and Holding Company "Composite" (Russia), ZOLTEK (U.S.), Axon (U.K.), Plasan Carbon Composites (U.S.), 3MB Co., Ltd. (Thailand), GURIT (Switzerland), Rivers Carbon Technologies (New Zealand), and Sigmatex Ltd (England).

Market Overview:

A carbon fiber is composed of carbon atoms with about 5 to 10 micrometers in diameter. There are various advantages of using carbon fiber in automotive, which include high stiffness, high tensile strength, reduced weight, and tolerance at high temperature. These properties of carbon fiber have resulted in its increased use in the automotive industry. However they are more expensive than other materials. They are usually composed with other materials to form a composite. The composition with other materials increases the capability of the materials. Carbon fibers are about five times stronger than steel and other materials. This property encourages the automotive manufacturers to use carbon fiber in increasing the performance of the vehicle. The carbon fiber has various applications such as the exteriors, power train system, under body system, chassis system, and the interior. The increase in use of carbon fiber in automotive industry, is expected to drive the market in near future.

The factors supporting the growth of carbon fiber in automotive, are increased safety in the vehicle, growing technology development, increase in the sales of vehicle, and rise in government regulations to meet fuel efficiency of the vehicle. The growing technology for light weight material is expected to drive the market in the future. The lightweight materials help increase the fuel efficiency and the performance of the vehicle. This increased performance will drive vehicle purchase, which will drive the market. There has been an increase in the government regulations to meet the fuel efficiency of the vehicle. The Institute for Advanced Composites Manufacturing Innovation (IACMI) has aimed to decrease the cost of composite fiber to reduce the overall cost of the automotive components. Increase in vehicle sales is also expected to drive the carbon fiber in automotive market during the forecast period. The increase in sales of vehicle will result in growing demand of carbon fiber in the vehicle due to the light weight property. This increase demand will result in the growth of the market in future.

The carbon fiber in automotive market is segmented based on material type, application type, vehicle type, and region. On the basis of material type, the market is segmented based on Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), Long Fiber Thermoplastic (LFT), Prepreg, and Others. LFT is expected to dominate the carbon fiber in automotive market during the forecast period. It is used where there is prime requirement for higher strength, high resistance to chemicals, heat and corrosion. This property of LFT will increase the demand of this segment in future. On the basis of application type, the market has been segmented as exterior, power train system, under body system, chassis system, interior, and others. Exterior segment is expected to dominate the market in future due to increased demand for carbon fire in exterior components.

Browse more details on Report at: https://www.marketresearchfuture.com/reports/carbon-fiber-automotive-market-5390

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