The Automotive Carbon Fiber Composites Parts Global Market Report 2023 by The Business Research Company, provides automotive carbon fiber composites parts market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Automotive Carbon Fiber Composites Parts Global Market Report 2023, the market size is expected to grow from$17.10 billion in 2022 to $20.08 billion in 2023 at a compound annual growth rate (CAGR) of 17.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global automotive carbon fiber composites parts market size is expected to reach $36.24 billion in 2027 at a CAGR of 15.9%.
Surging demand for electric vehicles is significantly contributing to the automotive carbon fiber composites parts market going forward. Electric vehicles refer to vehicles that have an electric motor capable of drawing power from a battery and having the ability to receive external charging. Parts made from carbon fiber composites are used in electric vehicles to reduce weight and in turn, minimize the vehicle’s energy consumption.
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The automotive carbon fiber composites parts market is segmented:
1) By Type: Brake Discs, Brake Pads, Battery Housing, Mirror Housing, Chassis, Pillars, Other Types
2) By Resin: Thermoplastic, Thermoset
3) By Application: Original Equipment Manufacturer (OEM), Aftermarket
Product innovation is the key trend gaining popularity in the automotive carbon fiber composites parts market. Major companies operating in the automotive carbon fiber composites parts market are focusing on developing composite materials that offer advantageous properties for automobiles. For instance, in May 2022, Solvay, a Belgium-based chemical company, launched SolvaLite 714 Prepregs. It is a new generation of unidirectional carbon fibre and woven fabric goods that have already been pre-impregnated with epoxy resin SolvaLite 714. These cutting-edge prepregs have been specially designed for manufacturing automobile components, such as body panels, at quick compression-molding cycle durations in serial production runs. They also have quick cure cycles and long outlives.
The automotive carbon fiber composites parts market report table of contents includes:
1. Executive Summary
2. Automotive Carbon Fiber Composites Parts Market Characteristics
3. Automotive Carbon Fiber Composites Parts Market Trends And Strategies
4. Automotive Carbon Fiber Composites Parts Market – Macro Economic Scenario
5. Automotive Carbon Fiber Composites Parts Market Size And Growth
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26. Africa Automotive Carbon Fiber Composites Parts Market
27. Automotive Carbon Fiber Composites Parts Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automotive Carbon Fiber Composites Parts Market
29. Automotive Carbon Fiber Composites Parts Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Plasan Carbon Composites
- Faurecia SE
- Toray Industries Inc
- Mitsubishi Chemical Carbon Fiber and Composites (MCFC)
- SGL Carbon
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