The LAMEA automotive carbon fiber market is estimated to grow significantly during the forecast period. The major factors that further propel the market growth include the rising application of carbon fiber in the automotive sector coupled with the significant adoption of electric vehicles in the region. The electric car sales in Mexico and Brazil have increased significantly in the last few years. According to IEA, in Mexico, the new electric car sales were estimated to be around 100 units in 2015, which increased to around 1,790 units in 2018. Such exponential growth in electric car sales over the past few years is expected to increase the production of EVs in the country that further encourages the demand for carbon fiber in the automotive sector. This offers a growth opportunity for the market players operating in the market.
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The LAMEA 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. 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 LAMEA automotive carbon fiber market include Hexcel Corp., Teijin Ltd., Mitsubishi Chemical Holdings Corp., SGL Carbon SE, Toray Industries, Inc., and others. The market players are considerably contributing to market growth by adopting various strategies to stay competitive in the market.
LAMEA Automotive Carbon Fiber Market- Segmentation
By Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
By Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon fiber
By Application
- Interior
- Exterior
- Structural Assembly
- Others (Powertrain Components)
A full report of LAMEA Automotive Carbon Fiber Market is available at: https://www.omrglobal.com/industry-reports/lamea-automotive-carbon-fiber-market
LAMEA Automotive Carbon Fiber Market– Segment by Region
- Latin America
- Middle East
- Africa
