A carbon fiber is composed of carbon atoms with about 5 to 10 micrometers in diameter. There are various advantages of using carbon fiber in automotive, which include high stiffness, high tensile strength, reduced weight, and tolerance at high temperature. These properties of carbon fiber have resulted in its increased use in the automotive industry.
The composition with other materials increases the capability of the materials. Carbon fibers are about five times stronger than steel and other materials. This property encourages the automotive manufacturers to use carbon fiber in increasing the performance of the vehicle. The carbon fiber has various applications such as the exteriors, power train system, under body system, chassis system, and the interior. The increase in use of carbon fiber in automotive industry, is expected to drive the market in near future.

Market Analysis and Insights: Global Carbon Fiber in Automotive Market
The global Carbon Fiber in Automotive market is valued at US$ 868.4 million in 2019. The market size will reach US$ 1259.2 million by the end of 2026, growing at a CAGR of 5.4% during 2021-2026.

Global Carbon Fiber in Automotive Scope and Segment
Carbon Fiber in Automotive market is segmented by Type, and by Application. Players, stakeholders, and other participants in the global Carbon Fiber in Automotive market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2016-2027.

Segment by Type
Sheet Molding Compound
Short Fiber Thermoplastic (SFT)
Long Fiber Thermoplastic (LFT)
Prepreg
Others

Segment by Application
Passenger Car
Commercial Vehicle

By Company
Toray
Hexcel
Cytec Solvey Group
SGL
DOWAKSA
Hyosung Corporation
Formosa Plastic
Zoltek
Axon
Plasan Carbon Composites
GURIT
Rivers Carbon Technologies
Sigmatex

Production by Region
North America
Europe
China
Japan

Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E