The global automotive carbon fiber market is estimated to grow significantly during the forecast period. The major factors that propel market growth include the rising application of carbon fiber in the automotive sector coupled with significant adoption of lightweight vehicles due to fuel efficiency. Carbon fibers are widely used in the automobile industry as a whole or with other composites. Various automotive components on which carbon fiber cladding are used, include ducting, manifolds, cryogenic assemblies, high-temperature pipework assemblies, and so on. Further growing demand in EV industry further provide significant opportunity to the market growth in the near future.
