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The carbon fiber composites market was valued at USD 18.24 billion in 2022, and is projected to expand at a CAGR of 8% between 2023 and 2030 as a result of the increasing use of carbon fiber composites in the aerospace and automotive industries. By 2030, the market is projected to have grown to 355,48 kilotons in volume, a 9.6% CAGR over the forecast period.
Aerospace components are often made from carbon fiber composites due to its great corrosion resistance, low thermal expansion, and exceptional durability. Additionally, increased aircraft manufacturing may significantly expand the carbon fiber composites industry over the predicted period. Carbon fiber reinforced thermoplastic (CFRTP) is only one of several new materials appearing on the market. With modern mass manufacturing techniques, CFRTP can be molded in under a minute, is 40% lighter than steel, and has 10 times the impact resistance.
Companies in the auto industry are heavily funding R&D on cutting-edge materials for mass-produced cars. The increased output is the result of a combined design effort between GM and Teijin Limited, which resulted in a box with a molding time of just over a minute. Carbon fiber composites are widely used in the aircraft industry because of its great corrosion resistance, minimal thermal expansion, and exceptional durability. Over the period of the study, the growth of the carbon fiber composites market will be bolstered by rising aircraft manufacturing.
Continuous innovations of advanced carbon fiber composites including Carbon Fiber Reinforced Thermoplastic (CFRTP) and their expanding employment in large volume cars will accelerate industry growth. Mass-produced advanced CFRTP has a molding time of around one minute, is 40% lighter than steel, and is 10 times more resistant to impact. Advanced materials that can be employed in high volume production cars are the focus of intensive research and development efforts by the automotive industry. GM and Teijin Limited collaborated on the design of the box, which has a molding time of about one minute to boost production rates.
The automotive industry is heavily funding R&D to develop cutting-edge materials for mass-produced cars. The box was designed in collaboration with General Motors and Teijin Limited, and its one-minute molding time helps boost production rates. Research projects with a significant focus on developing novel carbon fibers and minimizing the carbon footprint of composite material manufacture may help expand the market. In order to reduce the demand for petroleum raw materials, scientists are aggressively funding the development of carbon fiber from forestry leftovers like lignin.
Market expansion can be achieved by increasing research project activities aimed at developing the new carbon fiber and decreasing carbon footprint from the production of composite materials. Researchers are making significant investments in the development of carbon fiber manufacturing from lignin and other forestry byproducts in an effort to lessen the demand for petroleum raw materials. The project's goals include a 30% decrease in product costs and a 50% reduction in carbon footprint during carbon fiber manufacture. In March 2022, for example, the University of Limerick launched the LIBRE project in conjunction with Germany, Sweden, the United Kingdom, Ireland, and Italy at a cost of about USD 5.45 million. This grant comes from the European Union's Horizon 2020 Research and Innovation Program and was administered by the Bio-Based Industries Joint Undertaking.
Report Coverage
Global Carbon Fibre Composites research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Carbon Fibre Composites report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Carbon Fibre Composites competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Carbon Fibre Composites market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Carbon Fibre Composites market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Carbon Fibre Composites market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Zoltek, SGL, Toho Tenax, Mitsubishi Rayon Corp., Rock West Composites, Hexcel, Solvay, ZHONGFU SHENYING CARBON FIBER CO., LTD., JIANGSU HENGSHEN FIBRE MATERIALS CO.,LTD, Hyosung Corp.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Carbon Fibre Composites market based on the below-mentioned segments:
Global Carbon Fibre Composites Market, By Type
Polymer
Carbon
Ceramic
Metal
Hybrid
Global Carbon Fibre Composites market, By Application
Aerospace
Automotive
Wind Turbines
Sport & Leisure
Civil Engineering
Marine
Electronics
Medical
Oil & Gas
Global Carbon Fibre Composites market, Regional Analysis
Aerospace components are often made from carbon fiber composites due to its great corrosion resistance, low thermal expansion, and exceptional durability. Additionally, increased aircraft manufacturing may significantly expand the carbon fiber composites industry over the predicted period. Carbon fiber reinforced thermoplastic (CFRTP) is only one of several new materials appearing on the market. With modern mass manufacturing techniques, CFRTP can be molded in under a minute, is 40% lighter than steel, and has 10 times the impact resistance.
Companies in the auto industry are heavily funding R&D on cutting-edge materials for mass-produced cars. The increased output is the result of a combined design effort between GM and Teijin Limited, which resulted in a box with a molding time of just over a minute. Carbon fiber composites are widely used in the aircraft industry because of its great corrosion resistance, minimal thermal expansion, and exceptional durability. Over the period of the study, the growth of the carbon fiber composites market will be bolstered by rising aircraft manufacturing.
Continuous innovations of advanced carbon fiber composites including Carbon Fiber Reinforced Thermoplastic (CFRTP) and their expanding employment in large volume cars will accelerate industry growth. Mass-produced advanced CFRTP has a molding time of around one minute, is 40% lighter than steel, and is 10 times more resistant to impact. Advanced materials that can be employed in high volume production cars are the focus of intensive research and development efforts by the automotive industry. GM and Teijin Limited collaborated on the design of the box, which has a molding time of about one minute to boost production rates.
The automotive industry is heavily funding R&D to develop cutting-edge materials for mass-produced cars. The box was designed in collaboration with General Motors and Teijin Limited, and its one-minute molding time helps boost production rates. Research projects with a significant focus on developing novel carbon fibers and minimizing the carbon footprint of composite material manufacture may help expand the market. In order to reduce the demand for petroleum raw materials, scientists are aggressively funding the development of carbon fiber from forestry leftovers like lignin.
Market expansion can be achieved by increasing research project activities aimed at developing the new carbon fiber and decreasing carbon footprint from the production of composite materials. Researchers are making significant investments in the development of carbon fiber manufacturing from lignin and other forestry byproducts in an effort to lessen the demand for petroleum raw materials. The project's goals include a 30% decrease in product costs and a 50% reduction in carbon footprint during carbon fiber manufacture. In March 2022, for example, the University of Limerick launched the LIBRE project in conjunction with Germany, Sweden, the United Kingdom, Ireland, and Italy at a cost of about USD 5.45 million. This grant comes from the European Union's Horizon 2020 Research and Innovation Program and was administered by the Bio-Based Industries Joint Undertaking.
Report Coverage
Global Carbon Fibre Composites research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Carbon Fibre Composites report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Carbon Fibre Composites competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Carbon Fibre Composites market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Zoltek, SGL, Toho Tenax, Mitsubishi Rayon Corp., Rock West Composites, Hexcel, Solvay, ZHONGFU SHENYING CARBON FIBER CO., LTD., JIANGSU HENGSHEN FIBRE MATERIALS CO.,LTD, Hyosung Corp. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Carbon Fibre Composites Market from 2021 to 2030.
- Market Forecast for Carbon Fibre Composites Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Carbon Fibre Composites competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Carbon Fibre Composites
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Carbon Fibre Composites market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Carbon Fibre Composites market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Zoltek, SGL, Toho Tenax, Mitsubishi Rayon Corp., Rock West Composites, Hexcel, Solvay, ZHONGFU SHENYING CARBON FIBER CO., LTD., JIANGSU HENGSHEN FIBRE MATERIALS CO.,LTD, Hyosung Corp.
Primary Target Market
- Market Players of Carbon Fibre Composites
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Carbon Fibre Composites market based on the below-mentioned segments:
Global Carbon Fibre Composites Market, By Type
Polymer
Carbon
Ceramic
Metal
Hybrid
Global Carbon Fibre Composites market, By Application
Aerospace
Automotive
Wind Turbines
Sport & Leisure
Civil Engineering
Marine
Electronics
Medical
Oil & Gas
Global Carbon Fibre Composites market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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