No.2758
Global Market of Automotive CFRP: Key Research Findings 2021
Global Automotive CFRP Market Size Expected to Grow at CAGR of 6.46% During 2020-2030
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on the global market of automotive CFRP, and found out the trends by fabrication method, by geography, and by application, as well as the trends at market players and future perspective.
Market Overview
The global market for automotive CFRP (carbon fiber reinforced plastic) is estimated to attain 116,049 million yen in 2020 (93.9% of the preceding year). Despite the stable expansion till then, the market of automotive CFRP made a downturn in 2020 as the global automotive production was hit by the spread of COVID-19 infections.
Noteworthy Topics
CFRP Quantity Demand by Region (2020)
Viewing at the trends of automotive CFRP market in 2020 by region, Europe accounts for 57.7% of the share, followed by North America (21.4%), Japan (11.4%), and other regions (9.5%)(based on weight).
In Europe, the area that holds the largest demand share of automotive CFRP, is a home to automotive makers (OEM makers) that adopt CFRP actively, such as BMW, Lamborghini and Ferrari. On the other hand, even though the “Big Three” uses aluminum as a main material to make vehicles lighter, GMC is consistently increasing the number of car models that uses CFRP components. In Japan, use of CFRP in “Prius PHV” and “LEXUS LC” garnered attention.
Future Outlook
In the last couple of years, auto makers have been focusing on development of technology to address C.A.S.E. (Connectivity, Autonomous, Sharing/Subscription and Electrification). Meanwhile, looking further into the future where competitive edge may shift from C.A.S.E to vehicle weight reduction, they continue to engage in development of CFRP molding methods, structure design, material development, and bonding technology.
Since reduction of vehicle weight is indispensable to boost automobile electrification, and various attempts are made to make vehicles lighter by adopting the right material for the right automotive components, constant increase is anticipated for production of car models and automotive parts using CFRP. Automotive parts made by RTM (resin transfer molding) process will drive the market growth hereafter, while adoption of automotive components formed by press systems like SMC (sheet molding compound) is also forecasted to expand. The global automotive CFRP market is projected to grow to 216,992 million yen by 2030, with a CAGR of 6.46% during 2020 to 2030.
Research Outline
2.Research Object： Automotive manufacturers, carbon fiber manufacturers, fabrication manufacturers, research institutions, etc.
3.Research Methogology： Face-to-face interviews by our expert researchers (including online) and literature research
CFRP (carbon fiber reinforced plastic)
CFRP (carbon fiber reinforced plastic) are the plastics that use carbon fiber as the reinforcing component. Those using thermosetting resin in the matrix are called CFRTS (carbon fiber-reinforced thermosetting plastic), and a composite cured-formed using thermoplastic resin are called CFRTP (carbon fiber reinforced thermos-plastics). This research focuses on these two kinds of CFRP used in the automotive industry. The market size is estimated based on the CFRP quantity demand for each fiscal year.
＜Products and Services in the Market＞
Automotive CFRP, polyacrylonitrile (PAN)-based carbon fiber
Published Report
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