The global Carbon Fibre Composites Market is expected to reach USD 146.14 Billion by 2028, according to a new report by Reports and Data. This can be mainly associated with the rising demand for lightweight materials in defense, aerospace and automotive industries.
Composites are lightweight when compared to most woods, metals, and alloys, which is an essential requirement for automobiles and aerospace industries since reducing the weight reduces the amount of fuel it needs and increases the speeds of the automobiles and aircraft. Furthermore, composites are also resistant to damage from weather, temperature changes, and harsh chemicals along with being non-corrosive. For instance, composites can be a good choice where chemicals are handled or stored.
Some of the leading players in the global Carbon Fibre Composites Market:
Owens Corning, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, SGL Group, Nippon Electric Glass Co. Ltd., Koninklijke Ten Cate BV, Huntsman International LLC., Solvay, Hexcel Corporation, Hexion, E. I. Du Pont Nemours Co., Weyerhaeuser Company, Chongqing Polycomp International Corporation, and Jushi Group Co., Ltd.
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Further key findings from the report suggest
- The market is segmented on the basis of resin type into thermoset composites, thermoplastic composites and others.
- Thermoset resin dominated the market, with a share of ~59% in 2020.
- Thermoset composites are synthetic materials that get strengthened when heated without losing their plasticity, suitable for highly corrosive and high-temperature applications and are majorly used in construction infrastructure, marine, aerospace and wind energy industries.
- The market is segmented on the basis of product type into polymer matrix composite, metal matrix composites, and ceramic matrix composites.
- Polymer matrix composite dominated the market in 2020 and is forecasted to witness a growth of 7.6% during the forecast period, due to the growth of glass and carbon fibers.
- The market is segmented on the basis of process into pultrusion process, layup process, filament winding, compression molding, injection molding, resin transfer molding, automated fiber placement, and automated tape laying.
- The layup process segment dominated the market in 2020 and is forecasted to have a growth of 6.8% during the forecast period.
- The growth of the segment can be associated with the low-costs incurred during the process, in which the composites are manufactured, and are majorly used by the wind and marine industries.
- The market is segmented on the basis of industry vertical into automotive transportation, aerospace defense, electrical electronics, wind energy, construction infrastructure, pipes tanks, marine and others.
- Automotive and transportation dominated the market in 2020, with a share of ~17%, due to advantages of durable and lightweight materials are useful for designing and manufacturing efficiently.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America and Middle East Africa.
- The Asia-Pacific dominated the market in 2020 and is forecasted to grow with a CAGR of 5.5% during the forecast period.
Key questions addressed in the report:
- What is the expected market size of the global Carbon Fibre Composites Market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Carbon Fibre Composites Market?
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Carbon Fibre Composites Market Segmentation:
Resin type Outlook (Volume, Kilo tons; 2018-2028 and Revenue, USD Billion; 2018-2028)
- Thermosetting Composites
- Thermoplastic Composites
- Others
Product type Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
- Polymer Matrix Composites
- Carbon Fiber Reinforced Plastic
- Glass Fiber Reinforced Plastic
- Others (Aramid fiber composites, etc.)
- Metal Matrix Composites
- Ceramic Matrix Composites
Process Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
- Pultrusion Process
- Layup Process
- Filament Winding
- Compression Molding
- Injection Molding
- Resin Transfer Molding
- Others (Automated fiber placement, automated tape laying, etc.)
Industry vertical Outlook (Volume, Kilo tons; 2018-2028 And Revenue, USD Billion; 2018-2028)
- Automotive Transportation
- Aerospace Defense
- Electrical Electronics
- Wind Energy
- Construction Infrastructure
- Pipes Tanks
- Marine
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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