Automotive Carbon Fiber Composites Market: Overview
Automotive carbon fiber composites are made from thin carbon fibers. These composites possess many properties such as lightweight, high strength-to-weight ratio, very high modulus elasticity-to-weight ratio, high fatigue strength, good corrosion resistance, very low coefficient of thermal expansion, low impact resistance, high electric conductivity, and high damping. Use of lightweight carbon fiber composites in automotive, reduces the emission of harmful gases and increases the fuel efficiency of the vehicles.
Automotive Carbon Fiber Composites Market: Drivers & Restraints
The automotive carbon fiber composites market is driven by the booming automotive industry. Additionally, increase in demand for lightweight materials in luxury cars, race cars, and other high-performance cars is boosting the demand for automotive carbon fiber composites. Increase in vehicle production, rise emission norms, and adoption of carbon fiber composites in various automotive components are driving the automotive carbon fiber composites market. However, high costs involved in the manufacturing of automotive carbon fiber composites materials is likely to restrain the market.
Automotive Carbon Fiber Composites Market: Segmentation
In terms of production type, the global automotive carbon fiber composites market can be segmented into hand layup, resin transfer molding, vacuum infusion processing, injection molding, autoclave molding, and compression molding. Resin transfer molding is a low pressure closed molding process, which is used to manufacture car roofs, front air dams, and rear spoilers. Autoclave molding is used to fabricate dense, void free, and high strength-to-weight ratio parts. Injection molding is used to produce large and complex component. Three-dimensional parts can easily be created using appropriate preforms of varying thicknesses.
Based on application, the global automotive carbon fiber composites market can be segregated into structural assembly, power train components, interior, exterior, electrical systems, and others. The structural assembly consists of parts such as compartments, A, B, C pillars, roof structure, and floor structure. The powertrain structure includes engine, exhaust system, fuel tank, and transmission. Interior and exterior includes seats, instrument panels, insulation, airbags, windows, glazing, and trims.
Automotive Carbon Fiber Composites Market: Regional Outlook
In terms of region, the global automotive carbon fiber composites market can be divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the market due to high demand for automotive carbon fiber composites from the automotive industry. The automotive carbon fiber composites market in emerging countries such as China, India, Vietnam, and Bangladesh is estimated to expand at significant pace in the near future. China and Japan are expected to be key producers of these composites due to the increase in its demand from construction and automotive industries. The market in the North America is estimated to expand due to high demand for these carbon fiber composites from end-use industries such as automotive in the U.S. and Canada. The market in Europe is projected to expand at a substantial pace due to high demand for these carbon fiber composites from the automotive industry. The automotive carbon fiber composites market in Latin America is anticipated to expand at a sluggish pace during the forecast period. Demand for automotive carbon fiber composites is increasing at a rapid space due to the rapid growth of the automotive industry in this region.
Automotive Carbon Fiber Composites Market: Key Players
Key players operating in the global automotive carbon fiber composites market include Saudi Basic Industries Corporation (SABIC), Akrilik Kimya Sanayii A. (AKSA), Hyosung Corporation, Toray Industries, Toho Tenax, Mitsubishi Rayon, Cytec, Hxcel Corporation, and Zoltek.
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