Carbon Fiber Composites Market Growth Trends
The Carbon Fiber Composites Market size is anticipated to reach USD 33.3 billion by 2027, growing at a CAGR of 13.0% over the forecast period as per the new research report published by UpGraph Research. Carbon Fiber Composites is a composite where carbon fiber is at least one of the filler. It should be either multidirectional or unidirectional, short or continuous, nonwoven or woven. Carbon Fibers are measured in micrometers and the size of Carbon Fiber is about 5-10 micrometers in diameter. Carbon Fiber is made from carbon atoms. Carbon Fiber has different properties such as low weight, high tensile strength, high-temperature tolerance, high chemical resistance. When Carbon Fibers are combined with the other materials they form Carbon Fiber Composites.
Due to the different belongings of Carbon Fiber Composites, they have a huge demand in various sectors like civil engineering, military, sports, and aerospace. When we compare Carbon Fiber Composites with other fibers like plastic fiber or glass fiber, Carbon Fiber Composites are very expensive. However, Carbon Fiber Composites have tremendous potential in terms of productivity, efficiency, usability, effectiveness. An increase in the demand for aerospace and increasing innovations in IT sectors over the globe can boost this industry in near future. Carbon Fiber Composites are used in the establishment of IT infrastructure due to its efficiency property, as it provides efficient network connection to the end-users.
Qualities of Carbon Fiber Composites such as Lightweight and superior strength have increased demand for Carbon Fiber Composites in the aerospace defense sector. Increased penetration in the end-user industry such as automotive, construction, marine, wind turbine, sports can contribute to significant growth of the Carbon Fiber Composites market in the forecast period. The aerospace and defense sector is the dominant sector in Carbon Fiber Composites industry by contributing the largest market share in this industry. Carbon Fiber Composites are also having a huge demand in the automotive industry due to its strength and lightweight, hence the demand for Carbon Fiber Composites has been increased in the forecast period.
North America is the dominant player in Carbon Fiber Composites industry by late 2017. Major aerospace manufacturers are based in the North America region and they have a strong presence in this region. Asia Pacific region is anticipated to grow in the forecast period in Carbon Fiber Composites market. China, Japan, South Korea, and Taiwan have the presence of end-user manufacturers of Carbon Fiber Composites and this will help to increase the market share of Carbon Fiber Composites. Also, in Europe, increasing demand for Carbon Fiber Composites in the aerospace sector is increasing and hence it will boom the market in near future.
Read detailed insights & view the sample report here: Carbon Fibre Composite Market Size, Share & Trends Analysis Report
Carbon Fiber Composites Market Segmentation
- Tow Size Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
- Large tow
- Small tow
- Application Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
- Pressure vessels
- Wind Turbines
- Sports equipment
- Aerospace & Defense
- Molding & Compounding
- Raw Material Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
- PAN Based
- Pitch Based
- Regional Outlook (Tons, USD Million, 2014 – 2025)
- North America
- The U.S.
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- North America