Asia-Pacific Automotive Carbon Fiber Market Growth, Size, Share and Forecast 2020-2026

 

Asia-Pacific automotive carbon fiber market is estimated to grow significantly at a CAGR of around 9.7% during the forecast period owing to the significant production of EVs, and rising production in the automotive industry. The automotive manufacturers significantly focusing on accelerating their production capacity to meet the emerging demand for lightweight vehicles. This will likely support the demand for carbon fiber owing to its potential benefits such as weight reduction and resultant fuel efficiency.

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Asia-Pacific automotive carbon fiber market is segmented on the basis of raw material, fiber type, and application. On the basis of raw material, the market is sub-segmented into PAN and petroleum pitch & rayon. PAN is the predominant precursor for carbon fiber due to superior strength and stability, and higher carbon yield. PAN-based carbon fiber is widely used in the automotive industry. Based on the fiber type, the market is classified into virgin automotive carbon fiber and recycled automotive carbon fiber. Based on the application, the market is classified into the interior, exterior, structural assembly, and others. Based on geography, the Asia-Pacific automotive carbon fiber market is further segregated into China, India, Japan, and Rest of Asia-Pacific. China is projected to have a considerable share in the Asia-Pacific automotive carbon fiber market. 

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The companies which are contributing to the growth of the Asia-Pacific automotive carbon fiber market include Teijin Ltd., Toray Industries, Inc., Hyosung Corp., Jiangsu Hengshen Co. Ltd., HONGFU SHENYING CARBON FIBER CO., LTD., and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market.

Asia-Pacific Automotive Carbon Fiber Market - Segmentation

By Raw Material

• Polyacrylonitrile (PAN)
• Petroleum Pitch & Rayon

By Fiber Type

• Virgin Carbon Fiber
• Recycled Carbon Fiber

By Application

• Interior
• Exterior
• Structural Assembly
• Others (Powertrain Components)

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Asia-Pacific Automotive Carbon Fiber Market– Segment by Region

• China
• India
• Japan
• Rest of Asia-Pacific

Company Profiles

• Carbon Revolution Ltd.
• Formosa Plastics Corp.
• Hyosung Corp.
• Jiangsu Hengshen Co. Ltd.
• Nippon Carbon Co. Ltd.
• Taekwang Industrial Co. Ltd.
• Toray Industries, Inc.
• Teijin Ltd.
• Weihai Guangwei Composites Co., Ltd.
• ZHONGFU SHENYING CARBON FIBER CO., LTD.

 

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