Carbon Fiber in Automotive Market is predicted to reach USD 6.09 Billion at a CAGR of 6.4% during the forecast period

Pune, India, September, 2023 /MRFR Press Release/- Market Research Future published a half cooked research report on global carbon fiber in automotive market. The carbon fiber in automotive market is expected to grow at CAGR of around 6.4% during the period, 2023- 2030.

Market Research Future (MRFR) has published a cooked research report on the “Carbon Fiber in Automotive Market” that contains information from 2018 to 2030.  The Carbon Fiber in Automotive Market is estimated to register a CAGR of 6.4% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Carbon Fiber in Automotive Market — Hexcel Corporation (US), Mitsubishi Chemical Carbon Fiber and Composites Inc. (US), SGL Carbon SE (Germany), Cytec Solvay Group (US), Teijin Limited (Japan), DOWAKSA (US), Formosa Plastic Corp. (Taiwan), ZOLTEK (US), Sigmatex Ltd, and Toray Industries Inc. (Japan)

Market Highlights

The global Carbon Fiber in Automotive Market is accounted to register a CAGR of 6.4% during the forecast period and is estimated to reach USD 6.09 Billion by 2030.

Carbon fiber has been making significant inroads into the automotive industry, particularly in high-performance and luxury segments. Carbon fiber is a lightweight, high-strength material that offers several advantages for automotive applications, including improved fuel efficiency, enhanced performance, and innovative design possibilities.  

Segment Analysis

The global Carbon Fiber in Automotive Market has been segmented based on Application, and Material.

The Carbon Fiber in Automotive market segmentation, based on Application, includes Exterior, Chassis System, Interior, Pressure Vessel, Power Train System, and Underbody System. External components led to a market share for their use based on automotive composite qualities such as high impact strength, high tensile strength, and high chemical and abrasion resistance, which are required to comply with the automobile manufacturing standards for external components. The increasing preference for composites in sports cars and luxury vehicle engines and external components is likely to have a beneficial effect on overall market growth. In addition, increased R&D efforts are also projected to spur the growth of the segment over a forecast period to enhance composite utilization in structural and motor components.

Based on Material, the Carbon Fiber in Automotive market segmentation includes Textile, Long Fiber Thermoplastic (LFT), Sheet Molding Compound (SMC), Short Fiber Thermoplastic (SFT), and Prepreg. Transmission of resin is a procedure of low-pressure closed molding used to make rooftops, front air barriers, and rear spoilers. Autoclave molding is used to manufacture high-strength-to-weight, dense, void-free products. For the generation of large and difficult components, injection molding is used. Three-dimensional items can readily be built with suitable preforms of different thicknesses.

Regional Analysis

The global Carbon Fiber in Automotive Market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia-Pacific market registered the largest market share in 2018 to positive automotive sales in countries such as China, India, and Japan. High investments from the public and private sectors in the manufacturing of electric vehicles are likely to propel the adoption of carbon fiber during the forecast period. According to the International Energy Agency, in 2018, the electric car fleet exceeded 5.1 million, up by 2 million from the previous year and sales of the new electric car almost doubled. In North America, the US has the largest market for automobiles. High demand for a second car in the region has negatively impacted the sale of new cars in the region. In addition, consumer attitude toward spending less on new car purchases has slowed the growth of the automotive industry in the region.

Europe is the largest automotive hub with the presence of a large number of automobile producers in the region; this positively influences the market growth—Germany is the leading country-level market. Stringent regulations implemented by (EPA) Environmental Protection Agency have increased the demand for lightweight and fuel-efficient vehicles, thus driving the carbon fiber in the automotive industry market in the region during the assessment period.

The market in the Middle East & Africa is likely to grow at a sluggish rate during the forecast period. The Latin American market is expected to exhibit remarkable growth owing to the positive growth avenues in Brazil and Mexico.

Key Findings of the Study

• The global Carbon Fiber in Automotive Market is expected to reach USD 6.09 Billion by 2030, at a CAGR of 6.4%during the forecast period.


• The Asia-Pacific market registered the largest market share in 2018 to positive automotive sales in countries such as China, India, and Japan.


• The Carbon Fiber in Automotive market segmentation, based on Application, includes Exterior, Chassis System, Interior, Pressure Vessel, Power Train System, and Underbody System.


• Hexcel Corporation (US), Mitsubishi Chemical Carbon Fiber and Composites Inc. (US), SGL Carbon SE (Germany), Cytec Solvay Group (US), Teijin Limited (Japan), DOWAKSA (US), Formosa Plastic Corp. (Taiwan), ZOLTEK (US), Sigmatex Ltd, and Toray Industries Inc. (Japan)

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