Automotive Carbon Roof: Introduction
- Carbon fiber is a light weight material and possesses high strength characteristics that can be used to enhance performance in automotive applications. Car automakers operating in the automotive industry are focusing on manufacturing vehicles with lightweight, exotic, high-tech, and energy efficient material with the usage of advanced carbon fiber material. Carbon fiber has two wonderful properties that make it perfect for manufacturing cars in the automotive industry.
- Carbon fiber material is both light and strong. In fact, carbon fiber is stronger than steel, but lighter than aluminum. In a drive shaft application, carbon fiber can be as much as four times stronger than steel, and it manages this while being 40% lighter than aluminum. Hence, it should be obvious why carbon fiber is increasingly being used in cars to reduce weight. A carbon roof also top reflects the sun’s rays.
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Key Drivers of Global Automotive Carbon Roof Market:
- In terms of type, the glossy black segment of the carbon roof market is anticipated to expand during the forecast period due to a rise in the demand for premium vehicles with a modern appearance. Several sports and premium cars have a design where the roof of the car is attached to the front windscreen via the identical lines. The roof of the car is glossy black by using the carbon wrapping; the glassy appearance of the car continues from the leading edge of the windscreen right through to the rear edge of the roof, creating a large, panoramic roof look. This, is turn, boosts the automotive carbon roof market across the globe.
- Rise in demand for vehicles and continuously investments by automakers in the research and development of cost effective, environment-friendly and low toxic products with a high life within the industry are likely to drive the global automotive carbon roof market
- The trend of urbanization is increasing at an exponential rate, which is boosting the average income of the urban population enabling them to enhance their lifestyles. Furthermore, rise in demand for passenger cars is prompting manufacturers to increase production of vehicles, which in turn is propelling the automotive carbon fiber market across the globe.
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Passenger Vehicle Segment to Offer Attractive Opportunities:
- The passenger vehicle segment is likely to hold a significant share of the market by the end of the forecast period. This is attributed to a rise in the demand for utility vehicles in highly populated countries such as China, India, and Brazil.
- High demand for e-class, crossovers, SUVs, and hatchbacks is driving the passenger vehicle segment, which in turn is likely to boost the automotive carbon roof market. Rise in preference for private transport and buying power of consumers is driving the passenger vehicle segment of the market.
- Coolants, also known as antifreeze agents, are being increasingly utilized to substitute water and other cooling agents owing to their superior heat absorption and corrosion inhibiting properties. The recent trend of substituting toxic, ethylene glycol with safer, organic-based coolants is anticipated to offer significant opportunities during the forecast period.
COVID–19 Pandemic to Hamper Market:
- The COVID-19 crisis is affecting economies and industries in various countries due to lockdowns, travel bans, and business lockdowns. The global chemicals and materials industry is suffering serious disruptions such as supply chain breaks, office shutdowns, and others. For instance, China is a global manufacturing hub and raw material supplier of various industries; it is also one of the worst affected countries. The lockdown of various plants and factories in China is hindering global supply chains, delivery schedules, and various chemicals and material sales. Various companies announced possible delays in product deliveries and slump in future sales of their products. All these factors are anticipated to hamper the global automotive carbon fiber market across the globe.
North America to Hold Significant Share of Global Automotive Carbon Roof Market:
- North America is lucrative region for the automotive industry, which can be attributed to employment opportunities and increased standards of living in the region. Therefore, North America held a significant share of the global automotive carbon roof market High rate of adoption of carbon fiber in the region can be ascribed to a rise in the demand for modern premium cars and an increase in the demand for sports vehicles in the region.
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