The US automotive carbon fiber market is estimated to grow significantly during the forecast period. The US homes several numbers of automakers including Ford, Hyundai, Nissan, Toyota, General Motors, Honda, Tesla, and Proterra among others. As per the International Organization for Motor Vehicle Manufacturers, the overall vehicle production of the US stood at nearly 11 million in 2019. Overall, the US is the second-largest market, across the globe, for vehicle sales and production. The automotive industry in the US is highly inclined towards innovation. New R&D initiatives are transforming the industry and creating significant opportunities for market players. The rising use of recycled carbon fiber in the manufacturing of lightweight automotive parts is a key factor in creating the demand for the carbon fiber market in the country.
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US automotive carbon fiber market is segmented based on 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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US Automotive Carbon Fiber Market Segmentation
By Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
By Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon fiber
- Structural Assembly
- Others (Powertrain Components)
- DowAksa Advanced Composites Holdings BV
- Formosa Plastics Corp.excel Corp.
- Muhr Und Bender KG
- Polar Manufacturing Ltd.
- Sigmatex Ltd.
- Solvay SA
- SGL Carbon SE
- Toray Industries, Inc.
- Teijin Ltd.
- UMATEX, ROSATOM State Corp.
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