Carbon Fibre Composites Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Carbon Fiber Composites Market grew at a CAGR of 6.8% between 2017-2021 and is estimated to be US$ 13,974.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.9% and is expected to reach a valuation of US$ 29,891.1Mn by the 2032 end
Advanced carbon fiber composites, such as Carbon Fiber Reinforced Thermoplastic (CFRTP), are constantly being improved, and their increasing use in high-volume automobiles will spur industry expansion. With mass manufacturing techniques, the enhanced CFRTP can be molded in about a minute and is around 40% lighter and 10 times more impact resistant than steel.
The automotive industry is actively investing in research and development to create cutting-edge materials that can be employed in high-volume production cars. With a roughly one-minute molding period, GM and Teijin Limited developed the box design collaboratively, which boosts production rates.
ChemView Consulting has analyzed that growth in the industry will be fueled by ongoing developments in high-tech carbon fiber composites like Carbon Fiber Reinforced Thermoplastic (CFRTP) and their significantly increasing application in high-volume cars. With modern mass production technologies, CFRTP can be molded in approximately a minute, is 40.1% lighter than steel, and has 10 times the impact resistance.
Aerospace manufacturers can increase aircraft parts’ fatigue and oxidation resistance with the help of carbon fibers, such as Carbon-fiber Reinforced Plastic (CFRP). Most notably in planes, carbon fiber has been used almost everywhere in aircraft. For instance, the Boeing 787 Dreamliner passenger plane contains 50% composite material by weight, most of which is made of sandwiched or laminated carbon fiber.
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Segments Covered in Report
- Aerospace & Defense
- Wind Turbines
- Sports & Leisure
- Civil Engineering
- Marine Applications
- Other End Uses
By Matrix Material:
- Polymer Matrix Carbon Fiber Composites
- Carbon Matrix Fiber Composites
- Ceramics Matrix Carbon Fiber Composites
- Metal Matrix Carbon Fiber Composites
- Hybrid Matrix Carbon Fiber Composites
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Carbon Fibre Composites Market
- Based on the end-uses, by 2022, the aerospace & defense segment is anticipated to generate more than 60.8% of total revenue due to the widespread use of these materials in aerospace components such as airframe structures, floor panels, and landing gears.
- Based on the matrix material, it is anticipated that the market for polymer-based carbon fibers will reach US$ 21 billion by 2032 due to the development of numerous polymers and their extensive use in the aerospace and automotive sectors.
- Based on the region, Hengshen was established in 2007 and had a division in Beijing in addition to its Danyang, China, headquarters. They declared they would produce five composite rear pressure bulkheads (RPB) measuring 4.5 meters for a Chinese aerospace OEM
Key companies covered in the market study are Toray+Zoltek, SGL Carbon, Toho, MRC, Hexcel Corporation, Rock West Composites, Hengshen, Mitsubishi Chemical Fiber Corporation, Teijin Limited, Solvay
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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