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Global Automotive Carbon Fiber Materials market will reach 2770 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2018/10/08

CFRP (Carbon Fiber Reinforced Plastic) is the name given to a compound material combining carbon fiber and matrix resin. It is light and strong, and is therefore used in a range of applications, from the aerospace industry through to general industrial parts and sports equipment.

The key automobile CFRP manufacturers are those who mainly produce carbon fiber for the moment. Those CFRP manufacturers usually build strategy cooperation with automakers to promote their business. For example, Toray is cooperating with Toyota while SGL and Hexcel seek opportunities with BMW. The CFRP industry development needs the effort of CFRP manufacturers and automakers together.

Global production of CFRP increased from 7748 MT in 2012 to 15345 MT in 2016, with the CAGR of 18.63%. Europe is the largest manufacturer and consumer of CFRP, followed by Japan. The two regions accounted for more than 60% consumption share globally. As for other regions, they mainly depend on importing to meet the demand.

The global Automotive Carbon Fiber Materials market is valued at 1840 million US$ in 2017 and will reach 2770 million US$ by the end of 2025, growing at a CAGR of 5.2% during 2018-2025.

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