Carbon Fiber Composites Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2024
Sarasota, FL -- (SBWIRE) -- 09/13/2018 -- Global Carbon Fiber Composites Market: Overview
Carbon fiber is fibers about 5-10 micrometers in diameter and composed mostly of carbon atoms. These have a certain advantage including high stiffness, high tensile strength, low weight, high chemical resistance, high-temperature tolerance, and low thermal expansion. Carbon fibers are mostly combined with other materials to form carbon fiber composite (CFC). For instance, CFC when mixed with plastic resin and baked it forms carbon fiber reinforced polymer which has a very high strength to weight ratio and is extremely rigid. These properties have escalated the demand for carbon fiber in aerospace, civil engineering, military, and sports. However, they are relatively expensive compared to similar fibers like glass fiber or plastic fiber, but considering the benefits and functionality of carbon fiber composites, they are tremendous potential in terms of productiveness, effectiveness, efficiency, and usability.
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Global Carbon Fiber Composites Market: Growth Factors
Increasing innovation in the IT sector, adoption by the aerospace industry because of superior strength and high-end performance are influencing the overall carbon fiber composite market globally. To establish the IT infrastructure throughout the nation and to have efficient network connection reliability this relies on the carbon fiber composites, and perhaps the key driving factor for the carbon fiber composites market. Carbon fibers are also in demand in the automobile industry because of their light weight and strength; thus, expected to boom the demand for carbon fiber composite in the near future.
Global Carbon Fiber Composites Market: Segmentation
On the Basis of End-Uses, the global carbon fiber composites market is segmented into aerospace & defense, automotive, civil engineering, pipe & Tank, electrical and electronics, wind energy and others (including sports, medical, etc.). Epoxy, polyester, polypropylene, polyurethane, PET, and others are the major resins types of the carbon fiber composites market. Based on the manufacturing process, the market is segmented into filament winding, injection molding, lay-up, pultrusion, and resin transfer.
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Global Carbon Fiber Composites Market: Regional Analysis
In terms of regional analysis, North America dominated the carbon fiber composites market in 2017. This growth is attributed to the established aerospace industry and presence of aerospace industry leaders. Additionally, North America is followed by Europe which will capture a significant market share owing to a large number of military aircraft manufacturing units in the region. Also, the presence of high-end automobile industries in the European region will further strengthen the product penetration. Asia-Pacific is also set to grow at a substantial rate because of high investment is done in the aviation industry which is likely to propel the market's growth over the upcoming years.
Global Carbon Fiber Composites Market: Competitive Players
Some of the key players of the global carbon fiber composites market include SGL, MRC, Toho, Torey+Zoltek, Rock West Composites, and Hexcel. Some of the prominent ones, few of them are the notable players in the market such as Solvay, Zhongu-Shenying, Aksa, Hyongsung, and Sonstige.
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Global Carbon Fiber Composites Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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