Indian automotive carbon fiber market is estimated to grow significantly at a CAGR of around 13% during the forecast period owing to the growing adoption of carbon fiber in the automotive sector coupled with an increasing trend towards the electric vehicle. Moreover, the Indian government is focusing on encouraging the adoption of electric vehicles in the country. For instance, in February 2019, the government approved the proposal for the implementation of the “Faster Adoption and Manufacturing of Electric Vehicles in India Phase II” (FAME Phase II) scheme that reduces the upfront purchase price of hybrid and electric vehicles. The Phase II scheme includes the allocation of a $1.4 billion budget to encourage the uptake of electric vehicles and is implemented over three years from April 2019. 

The Indian 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 Indian 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 market growth by adopting various strategies o stay competitive in the market. 

Research Methodology

The market study of the Indian 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

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

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

1. Indian Automotive Carbon Fiber Market Research and Analysis by Raw Material
2. Indian Automotive Carbon Fiber Market Research and Analysis by Fiber Type
3. Indian Automotive Carbon Fiber Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Indian automotive carbon fiber market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian automotive carbon fiber market.
• Insights about market determinants which are stimulating the Indian automotive carbon fiber market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.