The North American automotive carbon fiber market is estimated to grow at a CAGR of around 8.3% during the forecast period. The major factor that contributes to the market growth includes the significant production of in the automotive sector in the region. According to the International Organization of Motor Vehicle Manufacturers, in 2018, around 17.4 million units of the automobile were manufactured in North America and over 11 million units were produced in the US alone. The growth in the automobile industry in the region has further generated the demand for carbon fiber for the manufacturing of lighter automotive parts, thus provide significant growth to the market.

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The North American 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. PAN-based carbon fiber is widely used in the automotive industry. 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. Based on geography, the North American automotive carbon fiber market is further segregated into the US and Canada. The US is projected to have a considerable share in the North American automotive carbon fiber market.

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North American 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)

Regional Analysis

• US
• Canada

Company Profiles

• DowAksa Advanced Composites Holdings BV
• Formosa Plastics Corp.
• Hexcel Corp.
• Mitsubishi Chemical Holdings Corp.
• Nippon Carbon Co. Ltd.
• RTP Co.
• Solvay SA
• SGL Carbon SE
• Toray Industries, Inc.
• Teijin Ltd.

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