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.
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.
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.
Research Methodology
The market study of the China automotive carbon fiber market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
Secondary Sources Include
The report is intended for automotive carbon fiber market players, automobile industry, contract manufacturers, third-party suppliers, raw material suppliers, distributors & traders, industry associates & experts, government organizations, regulatory bodies, and other market participants for the overall market and competitive analysis. The report provides an in-depth analysis on market size, products offered by the companies, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.
Market Segmentation
The Report Covers
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. China Automotive Carbon Fiber Market by Raw Material
5.1.1. Polyacrylonitrile (PAN)
5.1.2. Petroleum Pitch & Rayon
5.2. China Automotive Carbon Fiber Market by Fiber Type
5.2.1. Virgin Carbon Fiber
5.2.2. Recycled Carbon fiber
5.3. China Automotive Carbon Fiber Market by Application
5.3.1. Interior
5.3.2. Exterior
5.3.3. Structural Assembly
5.3.4. Others (Powertrain Components)
6. Company Profiles
6.1. Carbon Revolution Ltd.
6.2. Formosa Plastics Corp.
6.3. Hyosung Corp.
6.4. Jiangsu Hengshen Co. Ltd.
6.5. Nippon Carbon Co. Ltd.
6.6. Taekwang Industrial Co. Ltd.
6.7. Toray Industries, Inc.
6.8. Teijin Ltd.
6.9. Weihai Guangwei Composites Co., Ltd.
6.10. ZHONGFU SHENYING CARBON FIBER CO., LTD.
1. CHINA AUTOMOTIVE CARBON FIBER MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL, 2019-2026 ($ MILLION)
2. CHINA AUTOMOTIVE CARBON FIBER MARKET RESEARCH AND ANALYSIS BY FIBER TYPE, 2019-2026 ($ MILLION)
3. CHINA AUTOMOTIVE CARBON FIBER MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2019-2026 ($ MILLION)
1. CHINA AUTOMOTIVE CARBON FIBER MARKET SHARE BY RAW MATERIAL, 2019 VS 2026 (%)
2. CHINA AUTOMOTIVE CARBON FIBER MARKET SHARE BY FIBER TYPE, 2019 VS 2026 (%)
3. CHINA AUTOMOTIVE CARBON FIBER MARKET SHARE BY APPLICATION, 2019 VS 2026 (%)
4. CHINA AUTOMOTIVE CARBON FIBER MARKET SIZE, 2019-2026 ($ MILLION)