Global Automotive Carbon Fiber Composites Market Size To Worth USD 43.67 Billion By 2033 | CAGR Of 6.20%
Category: Automotive & TransportationGlobal Automotive Carbon Fiber Composites Market Size To Worth USD 43.67 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Automotive Carbon Fiber Composites Market Size is to Grow from USD 23.92 Billion in 2023 to USD 43.67 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.20% during the projected period.
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Browse key industry insights spread across 243 pages with 110 Market data tables and figures & charts from the report on the "Global Automotive Carbon Fiber Composites Market Size, Share, and COVID-19 Impact Analysis, By Vehicle Type (Passenger Car and Commercial Vehicle), By Application (Structural Assembly, Powertrain Components, Interiors, and Exteriors), By Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, Injection Molding, and Compression Molding), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/automotive-carbon-fiber-composites-market
Carbon fiber, or CFRP, is a lightweight yet strong composite material made from interwoven carbon fibers reinforced with resin. Up to five times lighter than steel, it enhances fuel efficiency and vehicle performance due to its high strength-to-weight ratio. Carbon fiber’s design flexibility allows it to be molded into complex shapes, ideal for aerodynamic body panels and intricate features. Originally used in racing cars, its superior properties like high rigidity and low weight have led to its use in mass-produced vehicles. Though costly to produce, advancements are expected to lower manufacturing costs in the future. The global automotive carbon fiber composites market is driven by the demand for lightweight materials to improve fuel efficiency and reduce emissions, along with stringent emission norms and rising fuel prices. Partnerships between major automakers and carbon fiber producers are aiming to streamline mass production and reduce costs. However, the market is restrained by high costs, complex and costly repairs, challenging recycling processes, and reduced demand due to declining automobile sales post-COVID-19.
The passenger car segment is anticipated to hold the greatest share of the global automotive carbon fiber composites market during the projected timeframe.
Based on the vehicle type, the global automotive carbon fiber composites market is divided into passenger cars and commercial vehicles. Among these, the passenger car segment is anticipated to hold the greatest share of the global automotive carbon fiber composites market during the projected timeframe. Dominance is due to the demand for lightweight materials that boost fuel efficiency and reduce emissions. Carbon fiber composites enhance performance and safety in passenger cars, especially high-performance sports and luxury vehicles.
The exteriors segment is anticipated to hold the greatest share of the global automotive carbon fiber composites market during the projected timeframe.
Based on the application, the global automotive carbon fiber composites market is divided into structural assembly, powertrain components, interiors, and exteriors. Among these, the exteriors segment is anticipated to hold the greatest share of the global automotive carbon fiber composites market during the projected timeframe. This segment benefits from carbon fiber composites in vehicle exteriors like body panels and bumpers, improving aerodynamics and fuel efficiency. The material's strength and durability enhance safety and longevity, while consumer demand for stylish, high-performance vehicles boosts its use.
The resin transfer molding segment is anticipated to grow at the fastest pace in the global automotive carbon fiber composites market during the projected timeframe.
Based on production type, the global automotive carbon fiber composites market is divided into hand layup, resin transfer molding, vacuum infusion processing, injection molding, and compression molding. Among these, the resin transfer molding segment is anticipated to grow at the fastest pace in the global automotive carbon fiber composites market during the projected timeframe. Resin transfer molding produces high-strength, lightweight components with complex geometries at lower costs and shorter cycle times, ideal for large-scale automotive manufacturing. Its superior material properties and surface finishes, coupled with the rise of electric vehicles, drive demand.
Europe is anticipated to hold the largest share of the global automotive carbon fiber composites market over the forecast period.
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Europe is anticipated to hold the largest share of the global automotive carbon fiber composites market over the forecast period. The market is driven by stringent emission regulations and a focus on sustainability, pushing manufacturers to use carbon fiber composites. Major automakers in Germany, the U.K., and France invest in R&D, supporting market growth. The established automotive ecosystem and rising demand for high-performance, luxury vehicles further propel adoption.
North America is expected to grow at the fastest pace in the global automotive carbon fiber composites market over the forecast period. The growth is driven by a large automotive industry, investments in advanced materials, and a strong vehicle modification market. The U.S. and Canada lead in R&D to reduce vehicle weight, with the growing adoption of electric and high-performance cars boosting demand for carbon fiber composites.
Major vendors in the Global Automotive Carbon Fiber Composites Market include Toray Industries Inc., Hexcel Corporation, SGL Carbon SE, Teijin Limited, Cytec Industries, ACP Composites Inc., Clearwater Composites LLC, Owens Corning, HITCO Carbon Composites Inc., Mitsubishi Rayon Carbon Fiber and Composites Inc., Polar Manufacturing Limited, Rock West Composites, DowAksa Advanced Composites Holdings BV, Formosa Plastics Corporation, Nippon Graphite Fiber Co. Ltd., and Others.
Recent Developments
- In June 2023, Dash-CAE launched a carbon fiber monocoque chassis, the TR01, an affordable, versatile, and lightweight composite chassis for road cars. TR01 is suitable for any two-seat vehicle requiring a lightweight and stiff carbon fiber monocoque.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Global Automotive Carbon Fiber Composites Market based on the below-mentioned segments:
Global Automotive Carbon Fiber Composites Market, By Vehicle Type
- Passenger Car
- Commercial Vehicle
Global Automotive Carbon Fiber Composites Market, By Application
- Structural Assembly
- Powertrain Components
- Interiors
- Exteriors
Global Automotive Carbon Fiber Composites Market, By Production Type
- Hand Layup
- Resin Transfer Molding
- Vacuum Infusion Processing
- Injection Molding
- Compression Molding
Global Automotive Carbon Fiber Composites Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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