Carbon Fiber in Automotive Market Emerging Trends, Business Opportunities, Segmentation, Production Values, Supply-Demand, and Brand Shares and Forecast 2023-2032
Carbon fiber is a high-strength and lightweight material that is widely used in the automotive industry. It is made by weaving together carbon fibers into a fabric, which is then reinforced with a resin matrix. The resulting material has a high strength-to-weight ratio, excellent fatigue resistance, and low thermal expansion, making it an ideal choice for high-performance applications. The global carbon fiber in automotive market has been growing steadily over the years, driven by the increasing demand for lightweight and fuel-efficient vehicles. According to a report by MRFR, the market is expected to reach $ 6.09 Billion by 2030, growing at a CAGR of 6.4% from 2023 to 2030. One of the major drivers of the carbon fiber in automotive market is the increasing demand for fuel-efficient vehicles. Carbon fiber is significantly lighter than traditional automotive materials, such as steel and aluminum , which reduces the overall weight of the vehicle and improves fuel...