Argentina Automotive Carbon Fiber Composites Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.40 Billion |
| Market Size (2029) | USD 2.31 Billion |
| CAGR (2024 - 2029) | 10.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Argentina Automotive Carbon Fiber Composites Market Analysis
The Argentina Automotive Carbon Fiber Composites Market size is estimated at USD 1.40 billion in 2024, and is expected to reach USD 2.31 billion by 2029, growing at a CAGR of 10.5% during the forecast period (2024-2029).
The automotive carbon fiber composites market in Argentina,has been showing signs of steady growth. This growth trajectory is primarily fueled by the increasing demand for lightweight vehicles in the region coupled with a heightened awareness of the advantages that carbon fiber brings to automotive construction.
A significant factor driving this market is the global emphasis on fuel efficiency and emission reduction. Carbon fiber composites play a crucial role in this regard as they offer substantial weight reduction which is key to enhancing fuel efficiency and meeting stringent emission norms.
In terms of local production and supply chain dynamics, Argentina's capabilities are still in a developing stage. The country has a handful of specialized manufacturers in this sector, but it relies heavily on imports for raw materials and more sophisticated composite forms.
The application of carbon fiber composites is predominantly seen in high-performance and luxury vehicles within the country. However, there's an emerging trend to expand its use to more mainstream vehicle segments as the costs associated with carbon fiber composites begin to decrease and their benefits become more widely recognized.
Argentina Automotive Carbon Fiber Composites market shows potential for growth especially as the global automotive industry continues to evolve towards sustainability and efficiency. Investments in technology local manufacturing capabilities and favorable government policies could be key drivers for this market's expansion.
Argentina Automotive Carbon Fiber Composites Market Trends
Structural Components Dominating The Market Growth
In the Argentina Automotive Carbon Fiber Composites market the structural assembly segment clearly dominates when compared to other sectors like powertrain components, interiors and exteriors. This dominance is largely due to the essential role of structural components in ensuring vehicle safety and performance.
Carbon fiber composites, known for their exceptional strength-to-weight ratio, are particularly valuable in creating lightweight yet sturdy structural elements such as chassis and frames. This reduction in weight is crucial for enhancing fuel efficiency and improving vehicle dynamics a key consideration in modern automotive design.
Technological advancements have further cemented the position of carbon fiber composites in structural assemblies. These developments have led to more efficient production methods making carbon fiber more accessible for various automotive applications and somewhat mitigating its traditionally high cost.
In contrast to other market segments like powertrain, interiors, and exteriors where alternative lightweight materials also compete carbon fiber composites offer unparalleled benefits in structural applications.
This trend is expected to continue and potentially expand as the industry evolves towards more sustainable and efficient vehicle designs.
Passenger Car to Drive the Market Growth
The preference for carbon fiber composites in the passenger car segment in Argentina can be primarily attributed to the evolving consumer demand for high-performance and fuel-efficient vehicles. In passenger cars, the lightweight properties of carbon fiber composites directly translate to improved fuel efficiency, better handling, and enhanced performance which are key selling points for consumers.
Commercial vehicles, on the other hand, have a greater focus on durability and cost-effectiveness. The relatively higher cost of carbon fiber composites compared to traditional materials can be a deterrent in this sector. Commercial vehicle manufacturers often prioritize materials that provide a balance between durability, cost and weight, which might not always align with the properties of carbon fiber composites.
The passenger car segment particularly in the luxury and high-performance niches often leads in adopting advanced materials like carbon fiber composites. This segment is less price-sensitive and more focused on technological advancements, performance enhancements and innovative design – factors that align well with the benefits of carbon fiber composites.
Also, the production volume of passenger cars typically exceeds that of commercial vehicles, which allows for more significant investments in advanced materials like carbon fiber composites. The scale of the passenger car market offers a more viable platform for the utilization and development of these composites.
The dominance of the passenger car segment in the Argentina Automotive Carbon Fiber Composites market is driven by the demand for high-performance, fuel-efficient vehicles, the luxury market's openness to innovation impacting passenger cars. The commercial vehicle sector's adoption of carbon fiber composites remains limited due to cost considerations and different market priorities though future advancements in cost reduction and material technology could shift this trend.
Argentina Automotive Carbon Fiber Composites Industry Overview
The automotive carbon fiber market is a consolidated one. The major companies in the carbon fiber market include Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites Inc., SGL Carbon SE, Teijin Limited, and Toray Industries Inc.The demand is on the positive side, attributed to strong expansion and growth strategies adopted by the carbon fiber manufacturers. For instance,
- In May 2022, Hexcel has introduced a novel line of products that integrate its resin systems, now featuring bio-derived resin content with natural fiber reinforcements. This innovative combination is designed to produce material solutions tailored for various applications, including Automotive, Winter Sports, Marine, and Wind Energy sectors.
Argentina Automotive Carbon Fiber Composites Market Leaders
Hexcel Corporation
Mitsubishi Chemical Carbon Fiber and Composites, Inc.
SGL Carbon
Toho Tenex (Teijin Ltd)
*Disclaimer: Major Players sorted in no particular order
Argentina Automotive Carbon Fiber Composites Market News
- In June 2023, Engineers at the University of British Columbia (UBC) in Canada have pioneered a unique process that transforms bitumen into carbon fiber through an innovative spinning method. This breakthrough development holds significant potential for revolutionizing the production of lightweight composite materials, particularly for electric vehicles (EVs).
- This new technique could greatly contribute to the advancement of EV manufacturing, offering a method to create lighter, more efficient vehicles using this novel carbon fiber.
- In May 2022, Solvay, a global provider of specialized materials has expanded its extensive range of composite materials for the automotive sector with the introduction of SolvaLite 714 Prepregs. This new generation of products, comprising both unidirectional carbon fiber and woven fabric is pre-impregnated with the company's SolvaLite 714 epoxy resin.
- These advanced prepregs are designed to deliver rapid curing times and extended outlife, making them particularly suitable for producing automotive parts including body panels.
Argentina Automotive Carbon Fiber Composites Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Weight Reduction and Performance Is Likely To Drive The Market Growth
4.2 Market Restraints
4.2.1 High Cost of Carbon Fiber Is Anticipated To Restrict The Market Growth
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Application Type
5.1.1 Structural Assembly
5.1.2 Power-train Components
5.1.3 Interior
5.1.4 Exterior
5.1.5 Other Application Types
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Hexcel Corporation
6.2.2 Mitsubishi Chemical Carbon Fiber and Composites, Inc.
6.2.3 Teijin Ltd.
6.2.4 SGL Carbon SE
6.2.5 DowAksa USA LLC
6.2.6 Toray Industries Inc
6.2.7 A&P Technology Inc
6.2.8 Solvay SA
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Argentina Automotive Carbon Fiber Composites Industry Segmentation
Automotive carbon fiber composites refer to a class of materials used in the manufacturing of vehicles primarily known for their high strength-to-weight ratio. These composites are made by combining carbon fibers with a polymer matrix such as epoxy. The carbon fibers provide the material with strength and rigidity while the polymer matrix binds the fibers together and gives the composite its shape and additional properties.
The Argentina automotive carbon fibre market is segmented by application, by vehicle type. By application type the market is segmented into structural assembly, powertrain components, interiors, and exteriors.By vehicle type the market is segmented into passenger car and commercial vehicle.
The report covers the market size and forecasts in terms of value (USD Billion) for all the above segments.
| By Application Type | |
| Structural Assembly | |
| Power-train Components | |
| Interior | |
| Exterior | |
| Other Application Types |
Argentina Automotive Carbon Fiber Composites Market Research FAQs
How big is the Argentina Automotive Carbon Fiber Composites Market?
The Argentina Automotive Carbon Fiber Composites Market size is expected to reach USD 1.40 billion in 2024 and grow at a CAGR of 10.5% to reach USD 2.31 billion by 2029.
What is the current Argentina Automotive Carbon Fiber Composites Market size?
In 2024, the Argentina Automotive Carbon Fiber Composites Market size is expected to reach USD 1.40 billion.
Who are the key players in Argentina Automotive Carbon Fiber Composites Market?
Hexcel Corporation, Mitsubishi Chemical Carbon Fiber and Composites, Inc., SGL Carbon and Toho Tenex (Teijin Ltd) are the major companies operating in the Argentina Automotive Carbon Fiber Composites Market.
What years does this Argentina Automotive Carbon Fiber Composites Market cover, and what was the market size in 2023?
In 2023, the Argentina Automotive Carbon Fiber Composites Market size was estimated at USD 1.25 billion. The report covers the Argentina Automotive Carbon Fiber Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Argentina Automotive Carbon Fiber Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Argentina Automotive Carbon Fiber Composites Industry Report
Statistics for the 2024 Argentina Automotive Carbon Fiber Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Argentina Automotive Carbon Fiber Composites analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
