Technavio recognizes the following companies as the key
players in the global automotive carbon fiber components market: DowDuPont,
Plasan Carbon Composites, SGL Group, TEIJIN, and TORAY INDUSTRIES.
Commenting on the report, an analyst from Technavio’s team said: “One trend
gaining momentum in this market is the increasing application of advanced
manufacturing technologies. The use of carbon fibers in the automotive industry
requires advanced carbon fiber manufacturing techniques. This holds more
importance for automakers and auto component manufacturers to gain more
competitiveness and cost-effectiveness in the market.”
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According to the report, one driver influencing this market
is the growing use of carbon fiber materials in automotive industry. The
automotive industry is focusing on the use of energy-efficient, rigid, and
light-weight materials to reduce adverse environmental effects. Thus, the
global automotive industry is witnessing increasing use of advanced materials. The
growing competition among OEMs and automakers is fueling the adoption of
advanced materials for automotive applications, which include aluminum, carbon
fibers, and magnesium.
Further, the report states that one challenge affecting this
market is the the high price of carbon fibers and expensive R&D. Rising
prices of raw materials such as resins and carbon fibers have increased the
procurement costs for vendors. The cost of carbon fibers is of particular
concern in this regard as the average price of carbon fiber is $40-$50 per
pound. A minor share of the increased procurement costs is absorbed by vendors
of carbon fibers, with the major share being translated to higher prices for
customers. Hence, this is foreseen to be a challenge in the future. Moreover,
the large volume production of these products can become challenging with the
increasing demand.
The study was conducted using an objective combination of
primary and secondary information including inputs from key participants in the
industry. The report contains a comprehensive market and vendor landscape in
addition to a SWOT analysis of the key vendors.
The market is
expected to grow at a CAGR of 9.21%
About Automotive
Carbon Fiber Components
Automotive carbon fiber components consist only carbon fiber
or composites. These are lightweight and have high durability and tensile
strength.
Technavio’s analysts
forecast the Global Automotive Carbon Fiber Components Market to grow at a CAGR
of 9.77% during the period 2018-2022.
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Covered in this
report
The report covers the present scenario and the growth
prospects of the global automotive carbon fiber components market. To calculate
the market size, the report considers the revenue generated from the sales of
carbon fiber components for various applications including powertrain,
exterior, and interior.
The market is divided
into the following segments based on geography:
·
• Americas
·
• APAC
·
• EMEA
Technavio's report, global automotive carbon fiber components
market 2018-2022, has been prepared based on an in-depth market analysis with
inputs from industry experts. The report covers the market landscape and its
growth prospects over the coming years. The report also includes a discussion
of the key vendors operating in this market.
Key vendors
·
• DowDuPont
·
• Plasan
Carbon Composites
·
• SGL Group
·
• TEIJIN
·
• TORAY
INDUSTRIES
Market driver
·
• Growing
use of carbon fiber materials in automotive industry
·
• For a
full, detailed list, view our report
Market challenge
·
• High price
of carbon fibers and expensive R&D
·
• For a
full, detailed list, view our report
Market trend
·
• Increasing
application of advanced manufacturing technologies
·
• For a
full, detailed list, view our report
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