Lucintel Forecasts Carbon Fiber in the Global Automotive Market to Grow at a CAGR of 3.2%
- April 10th, 2022
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Dallas, TX / CRWE PRESS RELEASE / April 11, 2022 - According to the recent study the carbon fiber in the global automotive market is projected to grow at a CAGR of 3.2% from 2020 to 2025. Growth in this market is primarily driven by increasing automotive production and growing demand for lightweight material due to stringent government regulations to increase fuel efficiency and reduce greenhouse gas emissions.
Browse 184 figures / charts and 103 tables in this 254 -page report to understand trends, opportunities and forecast in carbon fiber in the global automotive market by application (exterior, power train system, under body system, chassis system, pressure vessel, interior and others), by material (textile, SMC, LFT, SFT, prepreg, and other), and region (North America, Europe APAC/ROW), and region (North America, Europe, APAC/ROW).
Download sample report and view detailed Table of Content by clicking on below link https://www.lucintel.com/carbon-fiber-in-the-global-automotive-market.aspx
“Textile market is expected to remain the largest segment during the forecast period.”
Based on material, the carbon fiber in the global automotive market is segmented into textile, SMC, LFT, SFT, prepreg and other. Lucintel forecasts that the textile is expected to witness the largest segment over the forecast period due to increasing demand in automotive exterior applications.
“Within the carbon fiber in the global automotive market, the exterior segment is expected to remain the largest application”
Based on application, the exterior segment is expected to witness the largest segment over the forecast period due to increasing usage of carbon fiber in hood, fender, panel, roof, front end module, and wind shield and chassis application is expected to experience the highest growth in the forecast period.
“Europe will dominate the carbon fiber in the global automotive market in near future”
Europe is expected to be the largest region with the highest growth over the forecast period due to the increasing production of luxury and sports car. Government regulations, such as CAFE Standards in the US and carbon emission targets in Europe, are putting pressure on OEMs to incorporate lightweight materials to reduce the vehicle weight.
Download Brochure of this report by clicking on https://www.lucintel.com/carbon-fiber-in-the-global-automotive-market.aspx
Major players of carbon fiber in the global automotive market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. SGL, Toray, Mitsubishi Rayon, Toho Tenax, Formosa Plastic, Hexcel, Cytec, DOWAKSA, Hyosung Corporation, and Composite Holding are among the major carbon fiber in the global automotive providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carbon-fiber-in-the-global-automotive-market.aspx or firstname.lastname@example.org
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