China Automotive Carbon Fiber Market Research and Forecast 2020-2026

 China automotive carbon fiber market is estimated to grow significantly at a CAGR of around 11.0% during the forecast period. The increasing shift towards EVs has encouraged the manufacturers of automobile companies to increase their manufacturing capacity of EVs. This, in turn, contributes to the demand for carbon fiber owing to its lightweight properties. Carbon fiber can be utilized for the storage of electricity and could reduce the weight of battery-powered vehicles. Carbon fiber could be utilized as a structural battery and as a reinforcing material, as it could half the weight of EVs. Therefore, increasing R&D in EVs will likely propel the demand for carbon fibers in the country.

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China 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.  

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The companies which are contributing to the growth of the China automotive carbon fiber market include Teijin Ltd., Toray Industries, Inc., Hyosung Corp., Jiangsu Hengshen Co. Ltd., HONGFU SHENYING CARBON FIBER CO., LTD., Weihai Guangwei Composites Co., Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups, and technological advancements to stay competitive in the market.

China 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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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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