Germany Automotive Carbon Fiber Composites Market Size

Germany Automotive Carbon Fiber Composites Market Analysis

The Germany automotive carbon fiber composites market is expected to grow at a CAGR of over 11% during the forecasted period (2020 - 2025)

• The German automotive industry is one of the largest, with a turnover of over EUR 435.3 billion in 2019. The export value was EUR 217.8 billion, Europe remains the primary market for these export vehicles. Other leading importers of German manufactured vehicles are North and South America. Volkswagen group topped a ranking of the leading manufacturer based on global sales, with almost 11 million units sold worldwide in 2019. In 2019 3.6 million passenger cars were sold in Germany, which was a slight year on the increase from 2018.
• Carbon fiber composites have superior modulus and strength, high impact resistance, and many other advantages like ease of recyclability, corrosion resistance, and processability. These carbon fiber composites have been increasingly used in the automotive industry to meet the increasing tightened corporate average fuel efficiency standards.
• Car manufacturers are forced to reduce dependence on diesel technology due to recent Volkswagen diesel-gate scandal, and they are focusing on electric vehicles. With adaptation of Kyoto Protocol at COP3, the automobile manufacturers are looking for alternate lightweight materials and carbon fiber composites have proven to be that alternative.
• The new energy efficiency goal of Germany is built on previous requirement of maximum 95g CO2/KM of emissions for newly registered LDVs in 2020 which corresponds to 4.1 L/100 Km for gasoline-powered vehicles and 3.6 L/100Km for diesel vehicles (WLTC Test).The European union target for CO2 emission reduction by 2030, 37.5% for cars and 31% for light commercial vehicles. German government has also planned to decarbonise all the sectors by 2050 to eliminate fossil fuel usage which will have positive impact on this market.