South Africa Automotive Carbon Fiber Composites Market - Growth, Trends, COVID Size & Share Analysis - 19 Impact, And Forecasts (2025 - 2030)

The South African Automotive Carbon Fiber Composites Market Report is Segmented by Vehicle Type (Passenger Cars and Commercial Vehicles), Application (Structural Assembly, Powertrain Components, Interior, Exterior, and Others (Underbody, Etc. )), and Manufacturing Process (Compression Molding, Injection Molding, Resin Transfer Molding, and Others (Over Molding, Etc. )).

South Africa Automotive Carbon Fiber Composites Market - Growth, Trends, COVID Size & Share Analysis - 19 Impact, And Forecasts (2025 - 2030)

South Africa Automotive Carbon Fiber Composites Market Size

South Africa Automotive Carbon Fiber Composites Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 310.01 Million
Market Size (2030) USD 508.65 Million
CAGR (2025 - 2030) 10.41 %
Market Concentration Medium

Major Players

South Africa Automotive Carbon Fiber Composites Market Major Players

*Disclaimer: Major Players sorted in no particular order

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South Africa Automotive Carbon Fiber Composites Market Analysis

The South Africa Automotive Carbon Fiber Composites Market size is estimated at USD 310.01 million in 2025, and is expected to reach USD 508.65 million by 2030, at a CAGR of 10.41% during the forecast period (2025-2030).

Over the long term, an increasing number of automobile production and sales, rising per capita disposable income of consumers, and growing demand for availing lightweight components to reduce vehicle weight, which ultimately leads to lower carbon emissions, will serve as major determinants for the growth of the South African automotive carbon fiber composites market.

  • According to the International Organization for Motor Vehicle Manufacturers (OICA), new commercial vehicle registrations in South Africa reached 165.8 thousand units in 2022 compared to 146.3 thousand units in 2021, representing a Y-o-Y growth of 13.3% between 2021 and 2022.
  • Heavy truck production in South Africa stood at 30,249 units in 2022 compared to 26,969 units in 2021, recording a Y-o-Y growth of 12% between 2021 and 2022.

Carbon fiber is a lightweight material with high-strength characteristics that can be designed for enhanced performance in automotive applications. It offers 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. One of the major headwinds for the industry is its low recyclability and higher cost than traditional composites, which leads to hiking the prices of vehicles.

However, with rapid enhancement in carbon fiber technology, which makes it suitable for manufacturing various vehicle parts, and the increasing demand for automakers to replace their existing metal parts with carbon fibers, a massive demand for this composite type is expected in the coming years. Many car companies, such as BMW, Audi, GM, Honda, and Polestar, have established mass production agreements with carbon fiber material producers. They are investing in their processes to support low-cost carbon fiber manufacturing.

South Africa Automotive Carbon Fiber Composites Industry Overview

The South African automotive carbon fiber composites market is fragmented and highly competitive due to various international and domestic players operating in the ecosystem. Some of the major players include Hexcel Corporation, Mitsubishi Chemical Group Corporation, SGL Carbon SE, Teijin Ltd, BFG International, Nippon Sheet Glass Co. Ltd, Sigmatex (UK) Limited, Solvay SA, Magna International Inc., Menzolit, and Lanxess AG. These players actively invest hefty sums to constantly innovate their material technology solutions to produce carbon fiber composites and optimize their manufacturing process to expand their production capacities.

  • In October 2023, Mitsubishi Chemical Group (MCG) announced the acquisition of CPC SRL (CPC), an Italian company specializing in the manufacturing and distribution of automobile components crafted from carbon fiber reinforced plastic (CFRP). This acquisition aligns with MCG Group’s long-term strategic vision to further expand and enhance its vertically integrated automotive carbon fiber supply chain worldwide, including in South Africa.
  • In July 2023, Hyundai announced its plan to partner with Dymag Wheels to offer carbon-hybrid wheels on future models from Hyundai N's performance division. The company stated that the new carbon-hybrid wheel will help the N models save around 40-50% of weight compared to traditional alloy wheels while improving stiffness and strength. It will be available to customers worldwide, including those from South Africa.

The market is anticipated to witness the launch of advanced carbon fiber composite materials to cater to the increased demand from automakers to incorporate lightweight components in vehicles and complement government efforts to promote the reduction of vehicle weight, thus leading to lower carbon emissions.

South Africa Automotive Carbon Fiber Composites Market Leaders

  1. Hexcel Corporation

  2. Mitsubishi Chemical Group Corporation (MCG)

  3. SGL Carbon SE

  4. Teijin Ltd.

  5. BFG International

  6. *Disclaimer: Major Players sorted in no particular order
South Africa Automotive Carbon Fiber Composites Market Concentration
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South Africa Automotive Carbon Fiber Composites Market News

  • June 2023: Solvay announced the new names of the future independent publicly traded companies that will result from its planned separation, which the company reported in March 2022. The new names are Solvay and Syensqo, effective upon completion of the planned separation of Solvay, with Syensqo operating the company's composites business and supplying carbon fiber materials to automakers worldwide, including customers from South Africa.
  • April 2023: SGL Carbon presented its new 50k carbon fibers (50,000 individual filaments) at the international composites trade fair JEC, which was developed to meet the strength requirements for common pressure tank constructions of classes 2 to 4. The Sigrafil C T50-4.9/235 carbon fibers were developed based on the 50k portfolio, already in large-scale production. The product is used in the wind and automotive industries. Depending on the partnership agreement with the automakers, SGL Carbon will supply this product to customers worldwide, including those from South Africa.

South Africa 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 Increasing Demand for Lightweight and Energy-efficient Automotive Components to Foster the Growth of the Target Market
  • 4.2 Market Restraints
    • 4.2.1 High Manufacturing and Processing Cost of Composites
  • 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 (Market Size in Value - USD)

  • 5.1 By Vehicle Type
    • 5.1.1 Passenger Cars
    • 5.1.2 Commercial Vehicles
  • 5.2 By Application
    • 5.2.1 Structural Assembly
    • 5.2.2 Powertrain Component
    • 5.2.3 Interior
    • 5.2.4 Exterior
    • 5.2.5 Others (Underbody, Etc.)
  • 5.3 By Manufacturing Process
    • 5.3.1 Compression Molding
    • 5.3.2 Injection Molding
    • 5.3.3 Resin Transfer Molding
    • 5.3.4 Others (Oven Molding, Etc.)

6. COMPETITIVE LANDSCAPE

  • 6.1 Vendor Market Share
  • 6.2 Company Profiles*
    • 6.2.1 Hexcel Corporation
    • 6.2.2 Mitsubishi Chemical Group Corporation (MCG)
    • 6.2.3 SGL Carbon SE
    • 6.2.4 Teijin Ltd
    • 6.2.5 BFG International
    • 6.2.6 Nippon Sheet Glass Co. Ltd
    • 6.2.7 Sigmatex (UK) Limited
    • 6.2.8 Solvay SA
    • 6.2.9 Magna International Inc.
    • 6.2.10 Menzolit
    • 6.2.11 Lanxess AG
    • 6.2.12 BASF SE

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Rising Adoption of Electric Vehicles Fuels the Market Demand
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South Africa Automotive Carbon Fiber Composites Industry Segmentation

Automotive carbon fiber composites are a specific type of composite material made by combining carbon fiber with a resin, such as vinyl ester or epoxy, to create vehicle components, such as chassis, that have higher performance properties than the individual materials alone.

The South African automotive carbon fiber composites market is segmented by vehicle type, application, and manufacturing process. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By application, the market is segmented into structural assembly, powertrain components, interior, exterior, and others (underbody, etc.). By manufacturing process, the market is segmented into compression molding, injection molding, resin transfer molding, and others (over molding, etc.).

The report offers market size and forecasts for the automotive carbon fiber composites in value (USD) for all the above segments.

By Vehicle Type Passenger Cars
Commercial Vehicles
By Application Structural Assembly
Powertrain Component
Interior
Exterior
Others (Underbody, Etc.)
By Manufacturing Process Compression Molding
Injection Molding
Resin Transfer Molding
Others (Oven Molding, Etc.)
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South Africa Automotive Carbon Fiber Composites Market Research Faqs

How big is the South Africa Automotive Carbon Fiber Composites Market?

The South Africa Automotive Carbon Fiber Composites Market size is expected to reach USD 310.01 million in 2025 and grow at a CAGR of 10.41% to reach USD 508.65 million by 2030.

What is the current South Africa Automotive Carbon Fiber Composites Market size?

In 2025, the South Africa Automotive Carbon Fiber Composites Market size is expected to reach USD 310.01 million.

Who are the key players in South Africa Automotive Carbon Fiber Composites Market?

Hexcel Corporation, Mitsubishi Chemical Group Corporation (MCG), SGL Carbon SE, Teijin Ltd. and BFG International are the major companies operating in the South Africa Automotive Carbon Fiber Composites Market.

What years does this South Africa Automotive Carbon Fiber Composites Market cover, and what was the market size in 2024?

In 2024, the South Africa Automotive Carbon Fiber Composites Market size was estimated at USD 277.74 million. The report covers the South Africa Automotive Carbon Fiber Composites Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South Africa Automotive Carbon Fiber Composites Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

South Africa Automotive Carbon Fiber Composites Industry Report

Statistics for the 2025 South Africa Automotive Carbon Fiber Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Africa Automotive Carbon Fiber Composites analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.