Market Size of UK Automotive Carbon Fiber Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.28 Billion |
| Market Size (2029) | USD 2.35 Billion |
| CAGR (2024 - 2029) | 13.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Automotive Carbon Fiber Composites Market Analysis
The UK Automotive Carbon Fiber Composites Market size is estimated at USD 1.28 billion in 2024, and is expected to reach USD 2.35 billion by 2029, growing at a CAGR of 13.10% during the forecast period (2024-2029).
Carbon fiber is a light-weight material and has high-strength characteristics that can be designed for enhanced performance in automotive applications. They offer improvement in structural, functional, or cosmetic properties. To make vehicles lighter, cleaner, safer, and more cost-effective, the leading carbon fiber suppliers are responding to the needs and expectations of the vehicle OEMs, system suppliers, and customers. Many car companies, such as BMW, Audi, GM, Honda, and Polestar have established agreements with carbon fiber material producers for mass production, and are investing in their processes to support low-cost carbon fiber manufacturing.
Growing stringent emission norms and rising fuel prices, carbon fiber, a great alternative to conventional metals, can reduce the vehicle's weight. This can improve the fuel efficiency and performance of the engine while the fiber's physical strength limits are almost twice as high as those of conventional metals. The rise in demand for electric vehicles across the country is likely to increase the penetration of carbon fiber to enhance the range of electric vehicles.
UK Automotive Carbon Fiber Composites Industry Segmentation
Carbon fiber is a lightweight material with high-strength characteristics that can be designed for enhanced performance in automotive applications.
The UK Automotive Carbon Fiber Market is segmented by Application (Structural Assembly, Powertrain Components, Interiors, Exteriors, and Others), Vehicle Type (Passenger Car, Commercial Vehicle), and Production Type (Hand Layup, Resin Transfer Molding, Vacuum Infusion Processing, Injection Molding and Compression Molding). The report covers the market size and forecasts in terms of value (USD) for all the above segments.
| Application Type | |
| Structural Assembly | |
| Powertrain Component | |
| Interior | |
| Exterior | |
| Others |
| Production Type | |
| Hand Layup | |
| Resin Transfer Molding | |
| Vacuum Infusion Processing | |
| Injection Molding | |
| Compression Molding |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehices |
UK Automotive Carbon Fiber Composites Market Size Summary
The UK automotive carbon fiber composites market is poised for significant growth, driven by the increasing demand for lightweight and high-strength materials in vehicle manufacturing. Carbon fiber composites are becoming essential in the automotive industry due to their ability to enhance vehicle performance, fuel efficiency, and safety. As vehicle manufacturers face stringent emission norms and rising fuel prices, carbon fiber offers a viable alternative to conventional metals, helping to reduce vehicle weight and improve fuel economy. The market is witnessing a surge in partnerships between car manufacturers and carbon fiber producers, with companies like BMW, Audi, and Polestar investing in mass production capabilities to meet the growing demand. The exterior segment of the market is expected to lead in terms of value and volume, as manufacturers seek to produce durable and high-stiffness exterior parts that enhance vehicle safety and longevity.
The adoption of carbon fiber in the UK automotive sector is further supported by government policies promoting low and zero-emission vehicles, alongside investments in infrastructure and incentives for electric vehicle adoption. The market is characterized by a consolidated landscape, with major players such as Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc., and Toray Industries Inc. dominating the market share. These companies are engaged in aggressive strategies, including new product development and technological advancements, to maintain their competitive edge. Innovations such as rapid integrated molding technology and continuous carbon fiber reclamation are expected to drive further growth and adoption of carbon fiber composites in the automotive industry. As the demand for electric vehicles rises, the penetration of carbon fiber is anticipated to increase, enhancing the range and efficiency of these vehicles.
UK Automotive Carbon Fiber Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Growing Electric Vehicle Market
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1.2 Market Restraints
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1.2.1 High Cost of Carbon Fiber Composites
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application Type
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2.1.1 Structural Assembly
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2.1.2 Powertrain Component
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2.1.3 Interior
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2.1.4 Exterior
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2.1.5 Others
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2.2 Production Type
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2.2.1 Hand Layup
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2.2.2 Resin Transfer Molding
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2.2.3 Vacuum Infusion Processing
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2.2.4 Injection Molding
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2.2.5 Compression Molding
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2.3 Vehicle Type
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2.3.1 Passenger Cars
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2.3.2 Commercial Vehices
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UK Automotive Carbon Fiber Composites Market Size FAQs
How big is the UK Automotive Carbon Fiber Composites Market?
The UK Automotive Carbon Fiber Composites Market size is expected to reach USD 1.28 billion in 2024 and grow at a CAGR of 13.10% to reach USD 2.35 billion by 2029.
What is the current UK Automotive Carbon Fiber Composites Market size?
In 2024, the UK Automotive Carbon Fiber Composites Market size is expected to reach USD 1.28 billion.
