Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Automotive carbon fiber composites market-_25.03_A | Page 2

product. These factors are making carbon fiber popular, hence creating a huge demand, which is in
turn, supporting the global automotive carbon fiber composites market to expand widely during the
forecast period.
On the other hand, factors that may restrict the carbon fiber market are inadequate product
capability and expensive rates of these fibers. Apart from that, once there a dent or a crack, it is not
recyclable becomes unfixed structure and does not stay as strong as before. In most cases, materials
made from carbon fiber if broken, or dented, is replaced with a new one or thrown away. Also, the
high cost of manufacturing of composites materials acts as a significant restraint for the growth of
the market.
Global Automotive Carbon Fiber Composites Segmentation
In the reports of MRFR, the global automotive carbon fiber composites market has been segmented
as product type, application type, and region.
By the mode of product type, the market has been segmented as hand layup, resin transfer molding,
vacuum infusion processing, injection molding, compression molding.
By the mode of application, the market includes structural assembly, power train components,
interior, exterior, and others.
Regional Analysis: Global Automotive Carbon Fiber Composites Market
Region wise, Asia Pacific is accounted to be the fastest and largest growing market for automotive
carbon fiber composites due to countries such as China and India. They are onto the growth path
due to the existence of lightweight vehicles as well as enhanced fuel efficiency. With the increased
production capacity in terms of volume and new facilities and innovative technological
advancements, these are driving the market of automotive carbon fiber composites on positive
notes over Asia Pacific region and is expected to capture over 45% revenue share through 2023.
On the other hand, Europe region will also grow at a higher CAGR in concern with automotive
carbon fiber composites market owing to extensive use of composites. There have been stringent
regulations regarding carbon emissions from vehicles and due to that increasing R&D investment
along with established automobile industry is noticed and will further propel the regional growth
over the forecast timeframe.
Key Players:
The major player operating in the market of global automotive carbon fibre composites are Cytec
Industries (U.S.), SGL Carbon SE (Germany), Toray Industries, Inc. (Japan), ACP Composites, Inc (U.S.),
Clearwater Composites, LLC (U.S.), Owens Corning (U.S.), HITCO Carbon Composites Inc (U.S.),
Mitsubishi Rayon Carbon Fibber and Composites, Inc. (U.S.), Polar Manufacturing Limited (U.K.) and
Rock West Composites (U.S.).
Industry News
31 January 2019: Jeon-Ju city (South Korea), the Korea Institute of Carbon Convergence Technology
(KCTECH, Gwangju, South Korea) and KIA Motors company (Seoul, South Korea) announced about
the signing of a memorandum of understanding (MOU) for expediting carbon composite parts
application in automotive industry.