Pune, India -- (SBWire) -- 09/26/2018 --Carbon Fiber Wrap is one of the form of applying Carbon Fiber. Global Carbon Fiber Wrap Market has witnessed a prospective growth in the past decade. Owing to the unique properties exhibited by carbon fiber, carbon fiber wrap has several applications in automobiles, consumer electronics, sports components, concrete structures, wind turbines, aerospace & defense, and others. Automobiles, consumer electronics, and sports components use carbon fiber wrap in the form of prepreg or sticker to modify the existing look while giving it a stylish new look. The rapid development in the sports industry has increased the demand for carbon fiber wrap, which has been a major driving factor. The automotive industry is considered the fastest growing application sector.
The construction sector primarily uses carbon fiber wrapping to add strength to an existing structure or in some cases, it might be used in new infrastructural projects. As evidenced in many applications, its ability to reduce weight and accelerate structural stiffness reflects instantaneously in faster response time and reduced actuator and motor loads. This results in improved productivity and longer maintenance cycles. onstruction industry uses carbon fiber wraps to strengthen the concrete structure by simply wrapping the degraded parts with carbon fiber wraps by wet lay-up process. Carbon fiber wraps are a cost-effective and innovative solution for restoring the world's infrastructure. Besides this, other end-user sectors such as wind energy, aerospace & defense, offshore are also taking advantage of the properties and design possibilities of carbon fiber wraps. However, a major restraint to the global carbon fiber wrap market is the high price of carbon fiber, and the long production cycle.
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Competitive Analysis
The key vendors competing in the carbon fiber wrap market are Mitsubishi Chemical Carbon Fiber and Composites, Inc., TORAY INDUSTRIES, Inc., 3M, DowAksa, SGL Group – The Carbon Company, Cytec Solvay Group, AXEVINYL, Sika group, Grafityp UK Limited, Slickwraps Inc., Rvinyl.com, Inc., and Vartega Inc.
Key Players
The prominent players of the global carbon fiber wrap market are 3M, DowAksa, SGL Group – The Carbon Company, Cytec Solvay Group, AXEVINYL, Sika group, Metrorestyling.com, Grafityp UK Limited, Slickwraps, Inc., Rvinyl.com, Inc., Vartega Inc., Mitsubishi Chemical Carbon Fiber and Composites, Inc., and TORAY INDUSTRIES, INC.
Intended Audience
Carbon fiber wrap market manufacturers
Traders and distributors of carbon fiber wrap
Production process industries
Potential Investors
Raw material suppliers
Nationalized laboratory
Industry News
Swiss chemicals manufacturer Sika and French building materials company Saint-Gobain have recently reached an agreement to end an almost four-year legal dispute, resulting in Saint-Gobain acquiring a large stake in Sika. This leads to an increase of more than USD 500.5 million from the purchase price agreed between Saint-Gobain and the Sika, which takes into account the increase in Sika's value since 2014.
Regional analysis
The global carbon fiber wrap market spreads across five main geographies, namely North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Europe materialized as the largest market for carbon fiber wrap, followed by Asia Pacific, Middle East & Africa, and North America.
Regional Analysis
The global carbon fiber wrap market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Geographically, Europe emerged as the largest market for carbon fiber wrap in 2017, followed by Asia Pacific, Middle East, and North America. In Europe, carbon fiber wrap market is estimated to have steady growth on account of robust presence of automotive manufacturers, specifically in Italy, U.K., Germany, Spain, France, and Russia. Asia Pacific is estimated to witness healthy growth over the forecast period, during 2017 to 2027. The demand for carbon fiber wraps is estimated to raise in various economies of Asia Pacific such as China, India, Japan, Taiwan, Malaysia, Thailand, Singapore, Australia, and South Korea. The major market driver in Asia Pacific is the consumer preference of carbon fiber wrap-based automobiles parts, such as car hood, rear wing, car interiors, motorcycle, laptops, and mobiles, and sporting materials, such as golf shafts, racquets, skis, snowboards, hockey sticks, fishing rods, bats, and bicycles. Furthermore, rapid commercial construction activities to support the growing economies of developing countries provide a major boost to the carbon fiber wrap market.
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The North America carbon fiber wrap market is projected to witness above-average growth with a healthy CAGR over the assessment period due to the strong growth of aerospace industry along with increasing commercial construction activities in this region. In North America the market is further categorized into Canada and U.S, among which, the U.S accounted for more than half of the total regional market share of carbon fiber wrap on account of large defense budget along with high adoption rate from aerospace industry. Furthermore, various countries of Latin America and the Middle East & Africa are expected to witness above-average growth in carbon fiber wrap on account of increasing disposable income and increasing in sales of passenger cars, specifically in Brazil and Mexico as well as growing institutional, commercial, and residential construction activities in Saudi Arabia, Kuwait, Qatar, and UAE.
Carbon Fiber Wrap Market 2018 Analysis, Opportunity Analysis, Size, Share, Growth, Trends and Forecast to 2023
Global Carbon Fiber Wrap Market Information: By Type of Lay-Up (Wet Lay-Up and Pre-Impregnated Lay-Up), End-Use Industry (Automotive, Consumer Goods, Construction, Sports, Aerospace & Defense, Wind Energy), and Region- Global Forecast To 2023