United Kingdom Automotive Carbon Fiber Composites Market Report and Forecast 2024-2032
Market Report I 2024-06-20 I 194 Pages I EMR Inc.
United Kingdom Automotive Carbon Fiber Composites Market Report and Forecast 2024-2032
Market Outlook
According to the report by Expert Market Research (EMR), the United Kingdom automotive carbon fiber composites market is projected to grow at a CAGR of 13.5% between 2024 and 2032. Aided by the growing demand for fuel-efficient vehicles and the rising sales of electric vehicles, the market is projected to further grow significantly by 2032.
Carbon fiber composites are materials made from carbon fibers reinforced with a polymer matrix. These composites are known for their high strength-to-weight ratio, stiffness, and resistance to corrosion and fatigue. In the automotive industry, carbon fiber composites are used in a wide range of applications, including body panels, chassis, interiors, and powertrain components, contributing to enhanced performance, fuel efficiency, and safety of vehicles.
One of the primary drivers of the United Kingdom automotive carbon fiber composites market growth is the increasing demand for lightweight vehicles. The automotive industry is under constant pressure to improve fuel efficiency and reduce carbon emissions. Lightweight materials, such as carbon fiber composites, play a crucial role in achieving these goals by reducing the overall weight of vehicles, thereby improving fuel economy and lowering emissions.
The growing adoption of electric vehicles (EVs) in the UK is another significant factor propelling the market development. EV manufacturers are increasingly turning to carbon fiber composites to reduce the weight of the battery packs and other components, enhancing the range and performance of the vehicles. The UK government's initiatives to promote electric mobility and reduce carbon emissions are further boosting the demand for carbon fiber composites in the automotive sector.
Technological advancements in carbon fiber composite manufacturing processes are also contributing to the United Kingdom automotive carbon fiber composites market share size. Innovations such as automated fiber placement, resin transfer molding, and advanced recycling techniques are making carbon fiber composites more affordable and accessible for automotive applications. These advancements are expected to drive the adoption of carbon fiber composites in the UK automotive industry over the forecast period.
Several key industry developments have shaped the United Kingdom automotive carbon fiber composites market outlook. Leading automotive manufacturers and carbon fiber composite producers are entering into strategic partnerships and collaborations to enhance their product offerings and expand their market presence. For instance, collaborations between automotive giants and material science companies are focusing on developing new composite materials with improved properties and cost-effectiveness.
Research and development (R&D) initiatives are also vital in the market growth. Companies are investing in R&D to develop innovative carbon fiber composites that meet the stringent performance and safety standards of the automotive industry. These initiatives are aimed at improving the mechanical properties, durability, and manufacturability of carbon fiber composites, thereby broadening their application scope in automotive manufacturing.
As per the United Kingdom automotive carbon fiber composites market analysis, the rising demand for sustainable and eco-friendly materials in the automotive industry is a key trend shaping the market. Carbon fiber composites, known for their durability and recyclability, are being increasingly preferred over traditional materials such as steel and aluminum. This trend is expected to continue over the forecast period, driven by the growing emphasis on sustainability and environmental responsibility. The increasing use of carbon fiber composites in high-performance and luxury vehicles is another notable trend in the market. Automakers are leveraging the superior properties of carbon fiber composites to enhance the performance, safety, and aesthetic appeal of their vehicles. This trend is particularly evident in the sports car and supercar segments, where weight reduction and structural integrity are critical.
The expansion of manufacturing capacities by key players in the market is expected to drive market growth. Companies are investing in new production facilities and upgrading existing ones to meet the growing demand for carbon fiber composites in the automotive industry. This expansion is aimed at ensuring a steady supply of high-quality composites and reducing lead times for automotive manufacturers.
The automotive carbon fiber composites market in United Kingdom is poised for significant growth over the forecast period, driven by the increasing demand for lightweight and high-performance materials in the automotive industry. The rising adoption of electric vehicles, technological advancements, and government initiatives are expected to further propel the market. However, challenges such as high costs and supply chain disruptions need to be addressed to fully realize the market's potential. With continued innovation and strategic investments, the UK automotive carbon fiber composites market is set to play a crucial role in the future of automotive manufacturing.
Market Segmentation
The market can be divided based on production type and application.
Market Breakup by Production Type
- Hand Layup
- Resin Transfer Moulding
- Vacuum Infusion Processing
- Injection Moulding
- Compression Moulding
Market Breakup by Application
- Structural Assembly
- Powertrain Component
- Interior
- Exterior
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the United Kingdom automotive carbon fiber composites market. Some of the major players explored in the report by Expert Market Research are as follows:
- BASF SE
- SGL Carbon SE
- Hexcel Corporation
- Toray Industries, Inc
- Prodrive Holdings Limited
- Voith GmbH & Co. KGaA
- Rockwood Composites Limited
- Pentaxia Limited
- Others
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1 Preface
2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Automotive Carbon Fiber Composites Market Overview
8.1 Key Industry Highlights
8.2 Global Automotive Carbon Fiber Composites Historical Market (2018-2023)
8.3 Global Automotive Carbon Fiber Composites Market Forecast (2024-2032)
8.4 Global Automotive Carbon Fiber Composites Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 United Kingdom Automotive Carbon Fiber Composites Market Overview
9.1 Key Industry Highlights
9.2 United Kingdom Automotive Carbon Fiber Composites Historical Market (2018-2023)
9.3 United Kingdom Automotive Carbon Fiber Composites Market Forecast (2024-2032)
10 United Kingdom Automotive Carbon Fiber Composites Market by Production Type
10.1 Hand Layup
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Resin Transfer Moulding
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Vacuum Infusion Processing
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Injection Moulding
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Compression Moulding
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 United Kingdom Automotive Carbon Fiber Composites Market by Application
11.1 Structural Assembly
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Powertrain Component
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Interior
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Exterior
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 BASF SE
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 SGL Carbon SE
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Hexcel Corporation
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Toray Industries, Inc
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Prodrive Holdings Limited
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Voith GmbH & Co. KGaA
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Rockwood Composites Limited
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Pentaxia Limited
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Automotive Carbon Fiber Composites Market: Key Industry Highlights, 2018 and 2032
2. United Kingdom Automotive Carbon Fiber Composites Market: Key Industry Highlights, 2018 and 2032
3. United Kingdom Automotive Carbon Fiber Composites Historical Market: Breakup by Production Type (USD Million), 2018-2023
4. United Kingdom Automotive Carbon Fiber Composites Market Forecast: Breakup by Production Type (USD Million), 2024-2032
5. United Kingdom Automotive Carbon Fiber Composites Historical Market: Breakup by Application (USD Million), 2018-2023
6. United Kingdom Automotive Carbon Fiber Composites Market Forecast: Breakup by Application (USD Million), 2024-2032
7. United Kingdom Automotive Carbon Fiber Composites Market Structure
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