Automotive Carbon Fiber Composites Parts Market Report 2025

The automotive carbon fiber composites parts market size has grown rapidly in recent years. It will grow from $22.96 billion in 2024 to $26.7 billion in 2025 at a compound annual growth rate (CAGR) of 16.3%. The growth in the historic period can be attributed to weight reduction in vehicles, growing electric vehicle, sports and luxury vehicle demand, stringent emission standards, racing and motorsports.

The automotive carbon fiber composites parts market size is expected to see rapid growth in the next few years. It will grow to $48.38 billion in 2029 at a compound annual growth rate (CAGR) of 16%. The growth in the forecast period can be attributed to electric and hybrid vehicle adoption, stringent fuel efficiency standards, increased use in structural components, mass production and economies of scale, demand for advanced driver assistance systems (ADAS). Major trends in the forecast period include increasing adoption in electric vehicles (EVs), advancements in manufacturing technologies, integration in structural components, collaborations and partnerships, cost reduction initiatives, recycling and sustainability.

The growing demand for electric vehicles is significantly driving the automotive carbon fiber composite parts market. Electric vehicles are defined as vehicles equipped with an electric motor that draws power from a battery and can be charged externally. Components made from carbon fiber composites are utilized in electric vehicles to reduce weight, thereby minimizing the vehicle's energy consumption. For instance, in November 2023, the U.S. Energy Information Administration, a government agency in the U.S., reported that the share of battery-electric vehicles (BEVs) in new light-duty vehicle sales reached 17.7% in the third quarter of 2023, with BEVs constituting 16% of total new vehicle sales for the year thus far, an increase from 12.5% in 2022 and 9% in 2021. Consequently, the rising demand for electric vehicles is set to propel the automotive carbon fiber composite parts market.

The automotive carbon fiber composites parts market is further fueled by the increase in vehicle production. Vehicle production involves the manufacturing and assembly of various modes of transportation, including automobiles, trucks, and motorcycles. The integration of carbon fiber composites in vehicle production is driven by ongoing efforts to enhance fuel efficiency, reduce emissions, and improve overall performance. In 2022, according to the European Automobile Manufacturers Association, 85.4 million motor vehicles were produced globally, marking a significant increase of 5.7% compared to 2021. The rise in vehicle production is a crucial factor driving the growth of the automotive carbon fiber composites parts market.

A key trend in the automotive carbon fiber composites parts market is the emphasis on product innovation. Major companies in this market are actively focusing on developing composite materials that offer advantageous properties for automobiles. For instance, in May 2022, Solvay, a Belgium-based chemical company, launched SolvaLite 714 Prepregs - a new generation of unidirectional carbon fiber and woven fabric products pre-impregnated with epoxy resin SolvaLite 714. These advanced prepregs are specifically designed for manufacturing automobile components, such as body panels, with quick compression-molding cycle durations in serial production runs. They boast quick cure cycles and extended lifespans, representing a significant innovation in the field of automotive carbon fiber composites.

Prominent companies in the automotive carbon fiber composite parts market are actively engaging in strategic partnerships and collaborations as part of their efforts to maintain a strong position in the market. These collaborative ventures are formed between two or more organizations with the aim of achieving specific business objectives or goals. An illustrative example of such a strategic partnership is the collaboration announced by Voith Composites, a leader in Composites 4 and the production center of carbon fiber-reinforced composites in the Voith Group. In May 2022, Voith Composites expressed its intent to partner with V-Carbon, a UK-based advanced materials technology company. V-Carbon specializes in developing the first fully integrated carbon fiber circular economy for applications in the aerospace, automotive, wind energy, and industrial sectors. This partnership is set to pioneer industry-leading innovation with the goal of establishing the first sustainable and closed-loop solution for Carbon Fiber Reinforced Polymer (CFRP) materials specifically for hydrogen (H2) systems. Such strategic collaborations highlight the commitment of major players to advancing sustainable and innovative solutions in the automotive carbon fiber composite parts market.

In November 2023, RECARO Automotive North America Inc., a U.S.-based manufacturer renowned for its high-quality automotive seats, acquired C12 Technology for an undisclosed amount. This strategic acquisition aims to strengthen RECARO's position in the premium performance seat market by utilizing C12 Technology's expertise in advanced material development and production techniques. C12 Technology specializes in providing software solutions tailored for the design and manufacturing of automotive carbon fiber composite parts, aligning well with RECARO's commitment to innovation and performance in its seating products.

Major companies operating in the automotive carbon fiber composites parts market include Plasan Carbon Composites Inc., Faurecia SE, Toray Industries Inc., Mitsubishi Chemical Carbon Fiber and Composites, SGL Carbon, Composite Resources Inc., Hexcel Corporation, Teijin Limited, BUCCI COMPOSITES S.p.A., CBS Composites, Cobra Advanced Composites Co. Ltd., TOPKEY Excellence In Composites, Action Composite Technology Limited, Zhongfu Shenying Carbon Fiber Xining Co. Ltd., Jiangsu Hengrui Pharmaceuticals Co. Ltd., Martec Spa, Gigante Technologies Pvt. Ltd., Cytec Industries Incorporated, ACP Composites Inc., Clearwater Composites LLC, Owens Corning, HITCO Carbon Composites Inc., Polar Manufacturing Limited, Rock West Composites Inc., Zoltek Companies Inc., Gurit Holding AG, Solvay S.A., Continental Structural Plastics Inc., Magna International Inc., Toho Tenax Co. Ltd., Formtech Composite Limited, Quantum Composites Inc., PlastiComp Inc., TenCate Advanced Composites, Fiberforge Corporation, Albany Engineered Composites Inc., BASF SE, DSM Composite Resins AG.

Europe was the largest region in the automotive carbon fiber composites parts market in 2024. The regions covered in the automotive carbon fiber composites parts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the automotive carbon fiber composites parts market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Automotive carbon fiber composite parts are components constructed from carbon fiber composite material, aimed at reducing a vehicle's weight for enhanced energy efficiency.

These parts encompass various types such as brake discs, brake pads, battery housing, mirror housing, chassis components, pillars, and others. Brake discs, for instance, are metal discs operating within disc brakes and rotate with the wheel. These composite parts utilize different resins such as thermoplastic and thermoset materials, serving both original equipment manufacturers (OEMs) and aftermarket applications.

The automotive carbon fiber composites parts market research report is one of a series of new reports that provides automotive carbon fiber composites parts market statistics, including automotive carbon fiber composites parts industry global market size, regional shares, competitors with automotive carbon fiber composites parts market share, detailed automotive carbon fiber composites parts market segments, market trends, and opportunities, and any further data you may need to thrive in the automotive carbon fiber composites parts industry. This automotive carbon fiber composites parts market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The automotive carbon fiber composites parts market consists of sales of carbon fiber composite propeller shafts, carbon fiber composite monocoques, and carbon fiber composite upholstery. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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