NEW
YORK, May 15, 2024 /PRNewswire/ -- The
global carbon composites market size is
estimated to grow by 177.9 mn t from 2023-2027, according to
Technavio. The market is estimated to grow at a CAGR of
11.49% during the forecast period.
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historic data (2017 - 2021) - Download
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Forecast
period
|
2023-2027
|
Base Year
|
2022
|
Historic
Data
|
2017 - 2021
|
Segment
Covered
|
Type (Virgin Fiber and
Recycled Fiber), End-user (Aerospace and Defense, Automotive, Wind
Energy, Sporting goods, and Others), and Geography (North America,
Europe, APAC, South America, and Middle East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Carbon Composites Inc.,
DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Epsilon Composite
SA, Exel Composites Plc, Formosa M Co. Ltd., Gurit Holding AG,
Hexcel Corp., Innegra Technologies, Jiangsu Hengshen Co. Ltd.,
Mitsubishi Chemical Corp., Nippon Steel Corp., Plasan Carbon
Composites Inc., SAERTEX GmbH and Co.KG, SGL Carbon SE, Sigmatex UK
Ltd., Solvay SA, Teijin Ltd., Toray Industries Inc., TPI Composites
Inc., and Zhongfu Shenying Carbon Fiber Co. Ltd.
|
Key Market Trends Fueling Growth
Carbon composites have gained significant attention in various
industries, including aerospace, civil engineering, and military,
due to their lightweight and high strength-to-weight ratio. These
materials are also extensively used in motorsports, marine,
consumer goods, and renewable energy sectors. Notably, in the wind
energy industry, carbon composites are the primary choice for
making wind turbine rotor blades. SGL Carbon, a leading carbon
composite manufacturer, produces pitch and PAN carbon fibers for
this purpose. The use of carbon composites in pressure vessels for
hydrogen, fuel cell vehicles, and CNG storage tanks is another
growing application. Despite the lack of standardization, the
market for carbon composites continues to expand, driven by the
demand for lightweight and high-strength materials in various
sectors. Additionally, advancements in technologies like 3D
printing and the use of solvay and other lightweight materials are
expected to further fuel the market growth.
Market Challenges
- Carbon composites, derived from carbon fibers and a carbon
matrix, are essential in various sectors such as automotive,
aerospace and defense, construction, wind energy, and sports goods.
Despite their widespread use, alternatives like glass fiber,
aluminum, copper, basalt fiber, aramid fibers, and natural fiber
pose threats due to their similar applications. Basalt fiber,
sourced from volcanic rocks, offers superior thermal stability,
high-temperature filtration, excellent acid and UV resistance, and
high energy-electromagnetic radiation, making it a preferred
reinforcing material in construction and automotive industries.
Additionally, carbon composites are utilized in marine, consumer
goods, PAN and pitch carbon fibers, luxury cars, pressure vessels,
gas storage, hydrogen gas, wind turbine blades, and renewable
energy applications. The market for carbon composites is influenced
by factors such as fuel efficiency, environmental sustainability,
electric vehicles, and the prepreg layup process, pultrusion and
winding techniques. Furthermore, advancements in 3D printing,
metals, semiconductors, and lightweight materials contribute to the
growth of this industry.
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impact of trend, driver and challenges - Buy
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Segment Overview
This carbon composites market report extensively covers market
segmentation by
- Type
- 1.1 Virgin Fiber
- 1.2 Recycled Fiber
- End-user
- 2.1 Aerospace and Defense
- 2.2 Automotive
- 2.3 Wind Energy
- 2.4 Sporting goods
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Virgin Fiber- Carbon composites, a class
of high-performance materials, are segmented into various types
based on matrix materials, manufacturing processes, and
applications. Fuel efficiency and environmental sustainability are
key drivers in the market, particularly in the electric vehicle and
renewable energy sectors. Wind turbine blades, a significant
application, contribute to the wind energy and renewable energy
segments. The matrix materials include polymers such as vinyl ester
and epoxy, while manufacturing processes like prepreg layup,
pultrusion, and winding are utilized. Aerospace and defense, wind
turbines, sport and leisure, marine applications, civil
engineering, military, motorsports, and consumer goods are primary
markets. Glass fibers and plastic fibers, including PAN carbon
fibers and pitch carbon fibers, are used in various applications.
The pressure vessels segment caters to hydrogen fuel cell vehicles,
CNG storage tanks, and LPG storage. Lack of standardization is a
challenge in the composites market. Other applications include
luxury cars, gas storage, and various consumer goods.
For more information on market segmentation with
geographical analysis including forecast (2023-2027) and historic
data (2017 - 2021) - Download a Sample Report
Research Analysis
The Carbon Composites Market encompasses the production and
application of carbon fibers, including those derived from glass
fibers and plastic fibers, in various industries such as Aerospace,
Civil Engineering, Military, Motorsports, and the Wind Energy
sector. These composites are manufactured using materials like
Polyacrylonitrile (PAN) and Pitch, with key components being the
Carbon Matrix and Semiconductors. SGL Carbon and other
manufacturers produce Pressure Vessels utilizing these lightweight,
high-strength materials, which are essential for Fuel Efficiency
and Environmental Sustainability in the Aircraft Industry. The
global lockdowns have disrupted Production Hubs, but the demand for
Carbon Fibers remains strong in Electric Vehicles and Wind Turbine
Blades, driving growth in the Renewable Energy sector.
Additionally, 3D Printing technology is revolutionizing the
production process of Carbon Composites, offering new opportunities
for innovation.
Market Research Overview
The Carbon Composites Market encompasses the production,
application, and sale of carbon fiber reinforced polymers (CFRP), a
lightweight and high-strength material. These composites are
gaining popularity in various industries, including aerospace,
automotive, and construction, due to their superior properties. The
market is driven by factors such as increasing demand for fuel
efficiency and lightweight materials, advancements in manufacturing
technologies, and growing applications in renewable energy. The
global carbon composites market is segmented by type, application,
and region. The types include unidirectional, bidirectional, and
woven composites. The applications include transportation,
infrastructure, industrial, and wind energy. The market is expected
to grow significantly in the coming years, with Asia Pacific being a major contributor due to
its large manufacturing base and increasing demand from end-use
industries.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Virgin Fiber
- Recycled Fiber
- End-user
-
- Aerospace And Defense
- Automotive
- Wind Energy
- Sporting Goods
- Others
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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