Reports
Reports
Sale
The Canada automotive carbon fibre composites market size is projected to grow at a CAGR of 10.10% between 2024 and 2032.
Year | Country | Vehicle Type | Number Produced/Sold | Percentage Change/Usage |
2021 | United States | All | 9.2 million produced | 4.5% increase from 2020 |
2022 | United States | Light Trucks | 10.9 million sold | |
2022 | United States | Passenger Cars | 2.9 million sold | |
2023 | India | Commercial Vehicles | 1 million produced |
Carbon fibre composites are highly desirable for components that need to be stable and lightweight, such as in automotive engineering. Carbon fibre is used in add-on parts such as BMW M performance parts, or whole carbon fibre chassis elements. Automotive carbon fibre composites are manufactured using carbon fibre composite materials and support structures derived from thermoset plastics called matrices.
The fibre’s ability to create parts in nearly any desired shape, its corrosion resistance and longevity, low thermal expansion, and its long-lasting temperature resistance are the main factors driving Canada automotive carbon fibre composites market growth. Carbon fibre composites are 75-80% lighter than steel and around 30-40% lighter than aluminium and are used in the manufacture of automobiles by prominent car manufacturers, such as Ferrari, Lamborghini, Koenigsegg, and Pagani, which will likely increase the Canada automotive carbon fibre composites market share in future.
Development of recycled carbon fibre and high demand for luxury cars are increasing the Canada automotive carbon fibre composites market demand
Date | Company | Event |
January 2024 | Reliance Industries | Announced plans to establish a carbon fibre facility in Gujarat, India |
December 2022 | TSF Group | Launched a new manufacturing facility in Chennai, India, for Leggaro Composites |
November 2022 | AEHRA | Unveiled the exterior design of its first model, an SUV made up of sustainable composite material, including forged carbon fibre |
October 2022 | Nissan Motors | Presented the NISMO Off Road Frontier V8 Concept, equipped with a custom wide-body kit made from carbon fibres |
May 2022 | Hexcel Corporation | Launched HexPly Nature Range, including woven and stitched flax carbon fiber composites reinforcements with bio-derived content. |
Trends | Impact |
Recycled Carbon Fiber | The development of environmentally friendly recycling methods for carbon fibres is one of the key trends. Toray Industries, Inc. developed recycled carbon fiber from Boeing 787 parts in 2023. |
Lightweight Sports/Luxury Cars | Carbon fibers are being used to produce lighter, more fuel-efficient sports and luxury cars, driving market growth in Canada. |
Carbon Fiber in Automotive Industries | Fiber reinforced materials are used for part integration, durability, and toughness, driving market development in Canada. |
Canada automotive carbon fibre composites market outlook looks promising because carbon fibre is increasingly used in the construction of lightweight racing and performance car bodies, as well as for components that need to be stable and lightweight. The advantages of carbon fibre reinforced plastic in the automotive industry include a reduction in weight, part integration, rigidity, durability, and aesthetic appeal. Composites are also being used in high-end electric vehicles by several OEMs, including Audi and BMW in Canada. Electric vehicles with composites have a high strength to weight ratio and are therefore more fuel-efficient, positively impacting the automotive carbon fibre composites market in Canada.
Canada Automotive Carbon Fibre Composites Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Production Type | Hand Layup, Resin Transfer Moulding, Vacuum Infusion Processing, Injection Moulding, Compression Moulding |
Vehicle Type | Passenger Car, Commercial Vehicle |
Application | Structural Assembly, Powertrain Component, Interior, Exterior, Others |
Region | Northern Canada, British Columbia, Alberta, The Prairies, Central Canada, Atlantic Canada |
Commercial and passenger cars are expected to hold significant market share due to heightened demand for fuel-efficient vehicles
According to Canada automotive carbon fibre composites market report, both, commercial vehicles and passenger cars hold a significant market share as the use of carbon fibre composites equally impacts their fuel efficiency due to their lightweight and high-strength characteristics.
According to energy.gov, carbon-fibre composites can improve fuel efficiency by about 35 percent and reduce passenger car weight by 50 percent as carbon fibre offers a very high strength-to-weight ratio, being up to five times stronger than steel and one-third the weight. Lighter commercial vehicles require less energy to accelerate, leading to improved fuel efficiency. Additionally, carbon fibre composites can be used to create lightweight parts that increase vehicle’s speed, further contributing to fuel efficiency. Many car companies, such as BMW, Audi, GM, Honda, and Polestar, are using carbon fibre composites in their vehicles to improve fuel efficiency and reduce carbon emissions, aiding the Canada automotive carbon fibre composites market.
Carbon fibres are mostly used in exterior applications as they provide rigidity to the outer structure
According to the Canada automotive carbon fibre composites market segmentation, the exterior application segment is expected to dominate in the forecast period. The exterior parts of the car body are the components that are situated on the monocoque's exterior, such as door panels, bumper beam, and fender. In the event of an accident, the exterior parts made of composite materials provide minimal risk of damage due to their rigidity, contributing to the segment’s growth.
In addition, carbon fibre is increasingly being used in the interior design of vehicles and as it is a lightweight and strong material that increases strength and durability. CFRP is used in the production of steering wheels and paddle shifters. It is also used in the production of front dashboards, which are the control panels located in the front of the vehicle.
Several leading players are working constantly towards expanding their business by launching new car models and building new manufacturing facilities.
Company | Year Founded | Headquarters | Description |
Hexcel Corporation | 1948 | Connecticut, United States | Global leader in advanced composite technology, providing lightweight solutions for a variety of industries, including aeronautics, automotive, and industrial applications. |
BASF SE | 1865 | Germany, Europe | International chemical company with extensive product lines, including raw materials, solutions, and systems for various industries, such as automobiles, building products and electronics. |
Solvay S.A. | 1863 | Brussels, Belgium | Leading chemical and materials company, dedicated to development and manufacture of state-of-the-art materials and solutions in various sectors such as aeronautics, motor vehicles or energy. |
Teijin Limited | 1918 | Japan | The company manufactures and sells carbon fibre products, films, aramid fibre, polyester films, resin products, synthetic fibre, and chemical products. |
Other key players in the Canada automotive carbon fibre composites market analysis include Spartec Composites Inc., Sigmatex (UK) Limited, Teijin Limited, and Fibrotek Advanced Materials Inc., among others.
Alberta is one of the prominent regions as it a main producer of carbon fibre products
As per the automotive carbon fibre composites market in Canada, several factors are contributing to the growth of the market in Canadian countries. Firstly, the adoption of carbon fibre composites is being driven by the growing demand for lighter vehicles in the automotive sector with a view to improving fuel efficiency. Secondly, the market share of carbon fibre composite material is growing with a focus on sustainable transport and governmental initiatives to promote its uptake in major provinces like Alberta, Ontario, Quebec, and British Columbia.
Alberta’s provincial research and innovation agency has launched the ‘Carbon Fibre Grand Challenge’, a USD 26 million, three-phase competition. The aim is to accelerate the development of largescale, low-cost production paths for carbon fibre based on feedstock originating from Alberta's bitumen. If this operation succeeds, Alberta will be provided with a no combustion channel and could become one of the country's main producers of carbon fibre products, which can accelerate the Canada automotive carbon fibre composites market development.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Production Type |
|
Breakup by Vehicle Type |
|
Breakup by Application |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Automotive Carbon Fibre Composites Market Overview
8.1 Key Industry Highlights
8.2 North America Automotive Carbon Fibre Composites Historical Market (2018-2023)
8.3 North America Automotive Carbon Fibre Composites Market Forecast (2024-2032)
8.4 North America Automotive Carbon Fibre Composites Market Breakup by Country
8.4.1 United States
8.4.2 Canada
9 Canada Automotive Carbon Fibre Composites Market Overview
9.1 Key Industry Highlights
9.2 Canada Automotive Carbon Fibre Composites Historical Market (2018-2023)
9.3 Canada Automotive Carbon Fibre Composites Market Forecast (2024-2032)
10 Canada Automotive Carbon Fibre Composites Market by Production Type
10.1 Hand Layup
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Resin Transfer Moulding
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Vacuum Infusion Processing
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Injection Moulding
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Compression Moulding
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
11 Canada Automotive Carbon Fibre Composites Market by Vehicle Type
11.1 Passenger Car
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Commercial Vehicle
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Canada Automotive Carbon Fibre Composites Market by Application
12.1 Structural Assembly
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Powertrain Component
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Interior
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Exterior
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Canada Automotive Carbon Fibre Composites Market by Region
13.1 Northern Canada
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 British Columbia
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Alberta
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 The Prairies
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Central Canada
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Atlantic Canada
13.6.1 Historical Trend (2018-2023)
13.6.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Hexcel Corporation
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Solvay S.A.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 BASF SE
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Spartec Composites Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Sigmatex (UK) Limited
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Teijin Limited
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Fibrotek Advanced Materials Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Automotive Carbon Fibre Composites Market: Key Industry Highlights, 2018 and 2032
2. Canada Automotive Carbon Fibre Composites Market: Key Industry Highlights, 2018 and 2032
3. Canada Automotive Carbon Fibre Composites Historical Market: Breakup by Production Type (USD Million), 2018-2023
4. Canada Automotive Carbon Fibre Composites Market Forecast: Breakup by Production Type (USD Million), 2024-2032
5. Canada Automotive Carbon Fibre Composites Historical Market: Breakup by Vehicle Type (USD Million), 2018-2023
6. Canada Automotive Carbon Fibre Composites Market Forecast: Breakup by Vehicle Type (USD Million), 2024-2032
7. Canada Automotive Carbon Fibre Composites Historical Market: Breakup by Application (USD Million), 2018-2023
8. Canada Automotive Carbon Fibre Composites Market Forecast: Breakup by Application (USD Million), 2024-2032
9. Canada Automotive Carbon Fibre Composites Historical Market: Breakup by Region (USD Million), 2018-2023
10. Canada Automotive Carbon Fibre Composites Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Canada Automotive Carbon Fibre Composites Market Structure
The market is expected to grow at a CAGR of 10.10% between 2024 and 2032.
The market growth is driven by several factors including rapid industrialisation, increased economic activity, and growing demand for eco-friendly materials in automotive production.
The rising demand for carbon fibre reinforced plastics in luxury vehicles such as racing cars, growing demand for fuel efficient vehicles, and development of low-cost manufacturing methods are some of the major trends supporting the market development.
The major regional markets are Northern Canada, British Columbia, Alberta, the Prairies, Central Canada, and Atlantic Canada.
One of its advantages is its high rigidity. The structure of a carbon fibre material is incredibly stable. Carbon fibre-based automotive components have a high impact energy absorption capacity. It indicates that, when used properly, carbon fibre can increase vehicle safety.
Aston Martin, BMW, Lamborghini, and McLaren Artura are some of the cars made using carbon fibre.
Carbon fibre is twice as stiff and five-times stronger than steel.
The key players in the Canada automotive carbon fibre composites market are Hexcel Corporation, Solvay S.A., BASF SE, Spartec Composites Inc., Sigmatex (UK) Limited, Teijin Limited, and Fibrotek Advanced Materials Inc., among others.
Mini Report
Single User License
Five User License
Corporate License
Any Question? Speak With An Analyst
View A Sample
Did You Miss Anything, Ask Now
Right People
We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.
Right Methodology
We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.
Right Price
We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.
Right Support
Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.