Carbon fiber is a polymer made of thin and strong filaments of carbon and is one of the strongest and lightweight materials available in market. They are most widely used fiber in high performance applications such as aerospace, industrial, automotive, oil and gas, and others. Carbon fiber composites pose high stiffness, high chemical resistance, high tensile strength, and tolerant to excessive heat. They are recognized as clean energy technologies as it leads to energy reductions through fuel savings. Manufacturers are now concentrating on developing more advanced production technologies, so as to reduce the manufacturing and assembly costs and to meet the growing demand from several industries.
Technological advancement, development in raw materials and manufacturing technologies, and availability of advanced composite software tools are the factors propelling the growth of the global carbon fiber composite market. Moreover, rising need to produce electricity from renewable sources, and increased demand from aerospace and wind energy sector is also driving the market. However, high demand-supply gap due to inadequate production capacity, and high cost of these material may hamper the growth of the market. Furthermore, development of advanced technologies for the product of low cost composites, expansion in emerging markets, and increasing application would create new opportunities in coming years.
The global carbon fiber composite market is segmented as material type, production technology, application, and geography. Material type is bifurcated as pitch-based carbon fiber, polyacrylonitrile carbon fibers, and rayon-based carbon fiber. Production technology is segmented as compression molding process, filament winding process, lay-up process, injection molding process, resin transfer molding process, and pultrusion process. Furthermore, application is categorized into automotive, aerospace & defence, wind energy, marine, rail industry, oil & gas, civil engineering, electronics & electricals, and others.
Based on geography, carbon fiber composite market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Germany, France, Italy, and others. Asia-Pacific is segmented into China, Japan, India, South Korea, and others, while RoW is bifurcated into South America, Middle East, and Africa.
The major players operating in this market includes Mitsubishi Chemical Holdings Corporation, Nippon Graphite Fiber Corporation, Koninklijke DSM N.V., Aeron Composite Pvt. Ltd., Taekwang Industrial Co. Ltd., Hexcel Corporation, Toray Industries Inc., Hindoostan Composite Solutions, SGL Group, and Teijin Limited, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Carbon Fiber Composite Market with respect to major segments such as material type, production technology, and application
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Carbon Fiber Composite Market has been included in the report
- Profile of the key players in the Global Carbon Fiber Composite Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Carbon Fiber Composite Market
Material Type Segments
- Pitch-Based Carbon Fiber
- Polyacrylonitrile Carbon Fibers
- Rayon-Based Carbon Fiber
- Aerospace & Defence
- Wind Energy
- Rail Industry
- Oil & Gas
- Civil Engineering
- Electronics and Electricals
- Other Applications
- North America
- South Korea
- South America
- Middle East