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Carbon Fiber Composites Market Overview:

According to the USD Analytics published latest research report, the global “Carbon Fiber Composites Market” is expected to grow at a tremendous CAGR of 6.5% during the forecast period 2023-2030.

Carbon fiber composites are widely used in the fabrication of aircraft components due to their great corrosion resistance, minimal thermal expansion, and outstanding durability. Furthermore, increased aircraft manufacturing will accelerate the growth of the carbon fiber composites sector throughout the research period.

Continuous advancements in sophisticated carbon fiber composites, such as Carbon Fiber Reinforced Thermoplastic (CFRTP), as well as their increasing use in high-volume cars, will drive industry growth. The latest CFRTP with mass production technology has a molding time of around one minute and is 40% lighter and ten times more impact resistant than steel.

Automotive manufacturers are continually spending on research and development to create new materials that can be employed in high-volume manufacturing cars. The box design was created in collaboration with GM and Teijin Limited, and it has a molding time of around one minute, which enhances manufacturing speeds.

Market Drivers:

Increasing research project efforts to create novel carbon fibers, as well as reducing the carbon footprint of composite material manufacturing, will increase market penetration. The researchers are actively investing in the synthesis of carbon fiber from byproducts of forestry, such as lignin, which decreases the need for petroleum raw materials. The initiative seeks to reduce product costs by roughly 30% while also decreasing carbon footprint by around 50% during carbon fiber manufacture.

For example, in March 2022, the University of Limerick launched the LIBRE project in collaboration with Germany, Sweden, the United Kingdom, Ireland, and Italy, with a USD 5.45 million investment. Bio-Based Industries Joint Undertaking received the financing under the European Union’s Horizon 2020 Research and Innovation Program.

Market Restraints:

However, the challenges connected with carbon composite recycling may impede product uptake in future years. Manufacturers grind or shatter carbon fiber components at very high temperatures during the recycling process in order to recover valuable carbon fiber. This extraction method raises the total cost of the product, impeding the expansion of the carbon fiber composites market.

Market Opportunities:

Aerospace Industry:

Carbon fiber composites have gained significant traction in the aerospace industry due to their exceptional strength-to-weight ratio and high stiffness. The demand for lightweight aircraft components is increasing, driven by the need for fuel efficiency and reduced emissions. Opportunities exist in the production of wings, fuselage sections, interior components, and other structural parts.

Automotive Industry:

The automotive sector presents a promising opportunity for carbon fiber composites. As the industry shifts towards electric vehicles (EVs) and seeks to reduce vehicle weight for improved range and energy efficiency, carbon fiber composites are becoming increasingly important. Opportunities exist in manufacturing lightweight body panels, chassis components, and interior parts for EVs and high-performance vehicles.

Recent Developments:

1. In March 2022, the University of Limerick inaugurated the LIBRE project in collaboration with Germany, Sweden, the United Kingdom, Ireland, and Italy, with a US$ 5.5 million investment. The money was received by Bio-Based Industries Joint Venture under the European Union’s Horizon 2020 Research and Innovation Program.

Segmentation Analysis:

As per the research analysis, the global carbon fiber composites market is segmented by matrix material into Polymer, Thermosetting, Thermoplastics, Carbon, Ceramics, Metal, and Hybrid; and by end-user into Aerospace, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine, and Others.

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The Aerospace & Defense Segment is Likely to Capture the Leading Revenue Share:

The aerospace and defense segment is expected to account for more than 60% of total sales by 2030 because of the widespread use of these materials in aircraft components such as airframe structures, floor panels, and landing gears. Carbon fibers, notably Carbon-fiber Reinforced Plastic (CFRP), enable aircraft makers to improve the fatigue and corrosion resistance of aircraft components.

According to Airbus, CFRP components provide airline operators with cost-effective maintenance advantages. The A350 XWB has a 50% reduced structural maintenance work with an airframe inspection threshold of roughly 12 years compared to the A380’s eight years. Furthermore, industry players are working on a new material technology that will improve the chemical and mechanical characteristics of materials.

Geographical Analysis:

The global carbon fiber composites market is segmented into North America, Europe, South America, Asia Pacific, and Middle East & Africa.

North America Carbon Fiber Composites Market:

The North American carbon fiber composites industry is expected to produce a demand of more than 55 kilo tons by 2030 because of the large concentration of aircraft manufacturers and the increasing inclusion of composites in aircraft. Rising aircraft demand globally as a result of increased air passenger traffic, along with the creation of new air transport routes, is increasing the regional share.

Aircraft manufacturers and industry participants are investing in R&D to create new materials that improve aircraft operating capabilities. In addition, with the addition of new distributors, industry players are improving their distribution systems in the area.

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Competitive Landscape:

The major companies contributing to the global carbon fiber composites market growth include Toray+Zoltek, SGL, Toho, MRC, Hexcel, Rock West Composites, and Hengshen.

Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 6 Months.

2) Any query regarding the scope offered will be addressed within 24- 48 hours.

3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights.

• The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable market size projections (2023-2030).
• Visualize the composition of the global carbon fiber composites market segmentation matrix material, end user, and region, highlighting the key commercial assets and players. 
• By Matrix Material: Polymer, Thermosetting, Thermoplastics, Carbon, Ceramics, Metal, and Hybrid
• By End User: Aerospace, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine, and Others
• By Region: North America, Europe, South America, Asia-Pacific, and Middle East and Africa
• Identify commercial opportunities in the global carbon fiber composites market by analyzing trends and co-development deals.
• The report also covers data insights on various industry forces such as porter’s five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
• Excel data sheet with thousands of the global carbon fiber composites market-level 4/5 segmentation data points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players.
• The report will provide access to approximately 50+ market data tables, 40+ figures and close to 200 pages. 

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