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The carbon fiber composites market growth is significantly driven by increasing penetration in various end-use industries such as automotive, wind turbines, sports & leisure, construction and marine. Strong product outlook from aerospace and defense sector owing to its light weight and superior strength will drive industry growth during the forecast timeframe. Increasing demand for products improving the overall fuel efficiency of the aircraft will further support the industry demand.Global carbon fiber composites market share by volume is expected to exceed 290 kilo tons till 2024. Recycling issues faced by the manufacturer along with supply chain management may hamper the market. Producers are focusing on improving their distribution to suffice its increasing demand.
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In revenue, carbon fiber composites market size is estimated to surpass USD 31 billion by 2024. Polymer matrix material is expected to hold major volume share of around 60% by 2024. Low processing time along with good formability of the product are the key properties propelling the market size from 2017 to 2024. Additionally, extended shelf life offers bulk buying that will further support the industry.
Automotive industry is expected to account for considerable volume share and will exhibit highest growth at over 13% till 2024. Rising usage of the components offering superior strength along with light weight will support the carbon fiber composites market growth.
North America is expected to contribute over 35% by 2024 owing to strong presence of major aerospace manufacturers in the region. Moreover, replacing conventional aircraft with efficient light weight aircrafts will support the industry growth.
Europe carbon fiber composites market will witness significant growth during the forecast timeframe owing to strong demand from automotive sector. Stringent government regulations towards usage of lightweight materials in the vehicles that improves efficiency by reducing fuel consumption will support the growth.
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Asia pacific carbon fiber composites market is anticipated to witness highest growth at over 12% up to 2024. Presence of major manufacturers in the region particularly in China, Japan, South Korea and Taiwan will positively influence the revenue generation. Further, propelling end use industries including automotive and aerospace will further drive the demand.
SGL, Toray+Zoltek, Toho, Rock West Comp., MRC and Solvay are among the few major players in the carbon fiber composites market. Other key manufactures include Hexcel, Aksa, Hyongsung, Zhongu-Shenying, Hengshen Fib. Mat. and Sonstige. Manufacturers are focusing on enhancing the production capacity to cope up with the escalation demand.
Browse key industry insights spread across 300 pages with 444 market data tables & 8 figures & charts from the report, “Carbon Fiber Composites Market Size By End-use (Aerospace, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine), By Matrix Material (Polymer (Thermosetting, Thermoplastics), Carbon, Ceramic, Metal, Hybrid), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Russia, Italy, Poland, Spain, China, Japan, India, South Korea, Australia, Taiwan, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/carbon-fibre-composites-market
Partial Table of Contents (ToC) of the report:
Chapter 4. Carbon Fiber Composites Market, By End-use
4.1. Global carbon fiber composites market share by end-use, 2016 & 2024
4.2. Aerospace
4.2.1. Market estimates and forecast, 2013-2024
4.2.2. Market estimates and forecast, by region, 2013-2024
4.3. Automotive
4.3.1. Market estimates and forecast, 2013-2024
4.3.2. Market estimates and forecast, by region, 2013-2024
4.4. Wind turbines
4.4.1. Market estimates and forecast, 2013-2024
4.4.2. Market estimates and forecast, by region, 2013-2024
4.5. Sports & leisure
4.5.1. Market estimates and forecast, 2013-2024
4.5.2. Market estimates and forecast, by region, 2013-2024
4.6. Civil engineering
4.6.1. Market estimates and forecast, 2013-2024
4.6.2. Market estimates and forecast, by region, 2013-2024
4.7. Marine
4.7.1. Market estimates and forecast, 2013-2024
4.7.2. Market estimates and forecast, by region, 2013-2024
4.8. Others
4.8.1. Market estimates and forecast, 2013-2024
4.8.2. Market estimates and forecast, by region, 2013-2024
Chapter 5. Carbon Fiber Composites Market, By Matrix material
5.1. Global carbon fiber composites market share by matrix material, 2016 & 2024
5.2. Polymer
5.2.1. Market estimates and forecast, 2013-2024
5.2.2. Market estimates and forecast, by region, 2013-2024
5.2.3. Thermosetting
5.2.3.1. Market estimates and forecast, 2013-2024
5.2.3.2. Market estimates and forecast, by region, 2013-2024
5.2.4. Thermoplastic
5.2.4.1. Market estimates and forecast, 2013-2024
5.2.4.2. Market estimates and forecast, by region, 2013-2024
5.3. Carbon
5.3.1. Market estimates and forecast, 2013-2024
5.3.2. Market estimates and forecast, by region, 2013-2024
5.4. Ceramic
5.4.1. Market estimates and forecast, 2013-2024
5.4.2. Market estimates and forecast, by region, 2013-2024
5.5. Metal
5.5.1. Market estimates and forecast, 2013-2024
5.5.2. Market estimates and forecast, by region, 2013-2024
5.6. Hybrid
5.6.1. Market estimates and forecast, 2013-2024
5.6.2. Market estimates and forecast, by region, 2013-2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/carbon-fibre-composites-market
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https://markets.businessinsider.com/news/stocks/advanced-polymer-composites-market-to-achieve-7-growth-over-2018-2024-1027419660
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https://www.gminsights.com/industry-analysis/long-fiber-thermoplastics-market
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