Global Automotive Carbon Fiber Hood and Tailgate Market 2018-2022
About Automotive Carbon Fiber Hood and Tailgate
Automotive carbon fiber hood and tailgate consist carbon fiber or composites. These are lightweight and have high durability and tensile strength.
Technavio’s analysts forecast the global automotive carbon fiber hood and tailgate market to grow at a CAGR of 9.77% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global automotive carbon fiber hood and tailgate market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Automotive Carbon Fiber Hood and Tailgate Market 2018-2022
Technavio recognizes the following companies as the key players in the global automotive carbon fiber hood and tailgate market: Magna International, Plasan Carbon Composites, SEIBON CARBON, SGL Group, TEIJIN, and TORAY INDUSTRIES.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing application of advanced manufacturing technologies. Advanced carbon fiber manufacturing techniques are required for using the carbon fibers in the automotive industry. As a result, automotive carbon fiber hood and tailgate manufacturers are increasingly incorporating modern production techniques to fasten the automation processes.”
According to the report, one driver in the market is growing use of carbon fiber materials in automotive industry. The continuously rising awareness of several advantages of carbon fiber materials has led to their increased adoption in the automotive industry. The high strength-to-weight ratio of carbon fibers makes them widely applicable in performance sports cars and SUVs.
Further, the report states that one challenge in the market is high price of carbon fibers and expensive R&D. High costs associated with the design and development of carbon fibers limit their applications across the global automotive industry. The R&D and manufacturing of carbon fibers are highly expensive than that of other conventional materials such as cast iron or steel.
Magna International, Plasan Carbon Composites, SEIBON CARBON, SGL Group, TEIJIN, and TORAY INDUSTRIES.