The overall market is expected to surge considerably in the near future, given the use of technologically advanced manufacturing techniques and the declining prices of CFRPs owing to high-volume production.

Segmentation

Production type and application are the primary segments as per which MRFR has analyzed the worldwide Automotive Composites Market Size.

The production types segment can be split into hand layup, resin transfer molding, vacuum infusion processing, injection molding, compression molding, and others.

The application-based segments covered in the report include structural assembly, power train components, interior, exterior, and others.

Regional Analysis

North America, Europe, Asia Pacific (APAC) and the rest of the world (RoW) are the main markets for automotive carbon fiber composites.

North America is expected to be a lucrative market for automotive carbon fiber composites during the review period. High demand for carbon fiber-reinforced plastics in race cars, leisure cars, as well as other high-performance cars, can stimulate market growth in the region. Development of advanced technologies as well as physical systems to create carbon fiber parts to be fitted in mass-volume vehicles are the latest trends that inundate the automotive composites carbon fiber market in the region.

Europe will quite possibly achieve a significant position in the global Automotive Composites Market Size during the evaluation period. The region makes extensive use of composites, which is further complemented by the stringent regulations that aim at curbing carbon emissions from vehicles. In addition to that, surge in research and development (R&D) investment paired with the highly thriving automobile industry in the region can add to the market strength in the following years.

Leading Vendors

Some of the leading players shaping the global Automotive Composites Market Size are Toray Industries, Inc. (Japan), Cytec Industries (U.S.), Owens Corning (U.S.), SGL Carbon SE (Germany), HITCO Carbon Composites Inc (U.S.), Polar Manufacturing Limited (U.K.).