Trusted Business Insights presents the Updated and Latest Study on Carbon Fibre Composites Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Carbon Fibre Composites Market
Industry / Sector Trends
Carbon Fibre Composites Market size was worth over USD 16 billion in 2016 and its demand is projected to cross 290 kilo tons in 2024.
Market Segmentation, Outlook & Regional Insights: Carbon Fibre Composites Market
Carbon Fibre Composites Market, By End Use, 2016 & 2024, (USD Million)
Increasing adoption in aerospace and automotive sector will primarily drive the industry till 2024. The proliferating demand from developed regions including Europe and North America will escalate the overall revenue generation. This can be credited to rising need of immediate supply of carbon fibre, the U.S. export controls have resulted in considerable vertical integration across the globe, fostering the industry till 2024.
Regular innovations have led to reduction in process and cycle time that has resulted in significant fall of overall processing cost. Increasing demand for lightweight and high-performance composites owing to stringent regulations and safety concerns will instigate huge growth potential to the carbon fibre composites market share over the next eight years. These products offer enhanced stability at extreme temperatures and durability that will further impact the industry growth positively. However, fluctuations in prices of raw materials may hamper the product demand.
Increasing usage in aerospace industry has gained prominence in interior & exterior aircraft structures owing to their high-end performance and superior strength. Compliance with the mandatory environmental standards is another factor positively influencing the overall carbon fiber composites market size from 2017 to 2024.
Carbon Fibre Composites Market, By End-Use
Carbon fibre composites market from aerospace industry is expected to account for largest share crossing USD 19 billion till 2024. Growth in military and commercial aerospace sector will primarily drive the segment size. High carbon fibre demand from commercial aircrafts can be attributed to increased flight affordability, which has led to growth in air passenger traffic worldwide. This rise in passenger traffic will further support the segment dominance over the next eight years.
Automotive captured significant share of over 20% and demand of over 25 kilo tons in 2016. Their usage in automobile industry mainly attributes to its reduced price due to efficient production of their matrix materials. Owing to the price reduction, it can also be used in middle class cars over the coming years. Hybrid sports cars are indulging in adoption of carbon composites in their i-projects. Approximately 24,000 i3s and 5,500 i8s were sold in 2015, further contributing to the industry growth significantly.
Carbon Fibre Composites Market, By Matrix Material
Polymer is anticipated to dominate the carbon fibre composites market over the forecast timeframe. The high revenue generation can be attributed to rising demand of thermoplastics and thermosetting materials. Thermoplastic materials demand is increasing due to its benefits of shorter processing time, high damage tolerance & resistance to impacts, and easy recyclability. Thermosetting materials are resistant to impacts and corrosion. Further, they possess the benefits such as excellent adhesion & finishing along with high fatigue strength.
Ceramic matrix materials are poised to exhibit over 12% CAGR from 2017 to 2024. High acceptance from construction industry will drive the industry growth. Its preference over the counterparts can be attributed to the advantages such as hardness, enhanced frictional behaviour, and excellent wear resistance.
Carbon Fibre Composites Market, By Region
North America carbon fibre composites market size is anticipated to continue its dominance till 2024. Established aerospace industry has led to increased aircraft deliveries across the region, fostering the industry growth. Presence of established aerospace industry leaders in the U.S. will further support the regions dominance. With continuous R&D activities in aerospace & defence sector in the U.S., the industry demand is expected to showcase tremendous increase over the coming years.
Europe will capture a significant share owing to large number of military aircraft manufacturing units in the region. Moreover, presence of high-end automobile industries in Italy and Germany will further strengthen the product penetration.
Asia Pacific is set to grow at over 12% over the forecast timeline. Substantial development in automotive industry across the region coupled with high investments in aviation industry will propel the regions growth. For instance, Indian military aviation sector is projected to invest around USD 35 billion over the next two decades. These investments will provide high growth prospects to the industry size till 2024.
Key Players, Recent Developments & Sector Viewpoints: Carbon Fibre Composites Market
Toray+Zoltek, SGL, Toho, MRC, Rock West Composites, and Hexcel are among the prominent players in the market. Other notable players include Solvay, Zhongu-Shenying, Aksa, Hengshen Fib. Mat., Hyongsung, and Sonstige. The industry participants focus on extensive R&D activities and geographic expansion to enhance their product line. For instance, in September 2017, Hexcel launched a multi-axial infused materials (MAXIM) R&D project worth USD 10 million for producing solutions for large aerospace and automotive composite structures. The company also expanded its manufacturing unit in Leicester, UK.
In October 2017, Rock West Composites announced a considerable expansion of its carbon fibre tubing stock for high-performance bicycle frame application. Carbon composites are highly used in bicycle industry owing to their ability of accommodating numerous design specifications and high weight to strength properties. This strategy helped the company to gain a competitive edge.
Carbon composites find their applications in various industries including aerospace, automotive, wind turbines, sports & leisure, and few others. Rising need of overall weight reduction is a major factor driving the industry growth. They are durable in terms of operational hours and do not experience impacts of rusting. Moreover, these composites possess outstanding resistance to high temperatures.
Industry players focus on providing cost effective solutions to their customers for strengthening their foothold. For instance, in October 2017, Zoltek declared that automotive composites are expected to become affordable and possess immense growth potential over the coming years
What are the Key Insights Covered: Exhaustive Carbon Fibre Composites Market
1. Market size (sales, revenue and growth rate) of Carbon Fibre Composites industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Carbon Fibre Composites industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Carbon Fibre Composites industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Carbon Fibre Composites industry.
Research Methodology: Carbon Fibre Composites Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Carbon Fibre Composites Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
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