Market Size of UK Automotive Carbon Fiber Composites Industry
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.28 Billion |
| Market Size (2029) | USD 2.35 Billion |
| CAGR (2024 - 2029) | 13.10 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UK Automotive Carbon Fiber Composites Market Analysis
The UK Automotive Carbon Fiber Composites Market size in terms of Equal-13.10 is expected to grow from USD 1.28 billion in 2024 to USD 2.35 billion by 2029, at a CAGR of 13.10% during the forecast period (2024-2029).
Carbon fiber is a light-weight material and has high-strength characteristics that can be designed for enhanced performance in automotive applications. They offer improvement in structural, functional, or cosmetic properties. To make vehicles lighter, cleaner, safer, and more cost-effective, the leading carbon fiber suppliers are responding to the needs and expectations of the vehicle OEMs, system suppliers, and customers. Many car companies, such as BMW, Audi, GM, Honda, and Polestar have established agreements with carbon fiber material producers for mass production, and are investing in their processes to support low-cost carbon fiber manufacturing.
Growing stringent emission norms and rising fuel prices, carbon fiber, a great alternative to conventional metals, can reduce the vehicle's weight. This can improve the fuel efficiency and performance of the engine while the fiber's physical strength limits are almost twice as high as those of conventional metals. The rise in demand for electric vehicles across the country is likely to increase the penetration of carbon fiber to enhance the range of electric vehicles.
