Global Carbon Fiber Composites Market By Geography
The Global Carbon Fiber Composites market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Asia Pacific accounted for the largest market share within the global Carbon Fiber Composites market in 2022, owing to the surging aerospace and defense industry.
According to Stockholm International Peace Research Institute, an independent international institute, in April 2022, total global military expenditure increased by 0.7% in real terms in 2021, to reach US$ 2113 billion. The five largest spenders in 2021 were the USA, China, India, the UK, and Russia.
As per Boeing, an aircraft industry company, in September 2021, forecasts that China’s airlines will require 8,700 new airplanes by 2040, valued at US$ 1.47 trillion.
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Competition Scenario in Global Carbon Fiber Composites Market
The global carbon fiber composites market is significantly competitive with ~120 players which include globally diversified players, and regional players as well as a majority number of country-niche players having their niche in carbon fiber composites manufacturing for multiple raw materials and serving different industries.
Country-niche players account for the largest share by competitor type. While large global players constitute ~10% of the competition. Some of the major players in the market include Toray Industries Inc, Mitsubishi Chemical Corporation, Hexcel Corporation, Teijin Limited, SGL Carbon, Hyosung Advanced Materials, Solway, Nippon Graphite Fiber Co. Ltd., Anshan Sinocarb Carbon Fibers Co. Ltd., Formosa Material Co. Ltd, and others.
What Is The Expected Future Outlook For The Overall Global Carbon Fiber Composites Market Across The Globe?
The Global Carbon Fiber Composites market was valued at USD ~billion in 2022 and is anticipated to reach USD ~35 billion by the end of 2028, witnessing a CAGR of ~% during the forecast period 2022-2028. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Carbon Fiber Composites market is driven by continuous technological upgradation in products from multiple players, and growing usage of carbon fiber composites in multiple industries such as wind energy, sports goods, marine, and others. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaboration and emergence of new products, the Global Carbon Fiber Composites market is changing rapidly. For instance, In February 2021, Teijin Limited launched new Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate material for sports applications.
In December 2019, Solvay and SGL Carbon have entered into a joint development agreement (JDA) to bring to market the first composite materials based on large-tow intermediate modules (IM) carbon fiber.
In August 2019, Teijin Limited announced the acquisition of Renegade Material Corporation, a leading North American supplier of highly-resistant thermoset prepreg for the aerospace industry.
The global Carbon Fiber Composites market witnessed significant growth during the period 2017-2021, owing to the increasing number of vehicle production, and growing usage of carbon fiber composite material in multiple industries such as aerospace, wind energy, and others. The growth rate is expected to remain significant during the forecast period.
Though the market is significantly competitive with ~120 participants, the majority of country-niche players dominate the market share by competitor type, and global players hold a minor share.
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Key Topics Covered in the Report
- Snapshot of the Global Carbon Fiber Composites Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Carbon Fiber Composites Market
- Historic Growth of the Overall Global Carbon Fiber Composites Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Carbon Fiber Composites Industry
- Overview, Product Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Carbon Fiber Composites Market
- Future Market Forecast and Growth Rates of the Total Global Carbon Fiber Composites Market and by Segments
- Market Size of Type / End-Users Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Carbon Fiber Composites Market
- Major Production/Supply and Consumption/Demand Hubs in Each Major Region
- Major Continent-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Continent
Major Players Mentioned in the Report
- Toray Industries Inc
- Mitsubishi Chemical Corporation
- Hexcel Corporation
- Teijin Limited
- SGL Carbon
- Hyosung Advanced Materials
- Nippon Graphite Fiber Co. Ltd.
- Anshan Sinocarb Carbon Fibers Co. Ltd.
- Formosa Material Co. Ltd.
Notable Emerging Companies Mentioned in the Report
- Advance Composites Inc.
- Karbon composites & Technology Co. ltd.
- Zhongao Carbon
- Carbon Light
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Carbon Fiber Composites Manufacturing Companies
- Carbon Fiber Composites Marketing Companies
- Carbon Fiber Composites Material Suppliers
- Potential Investors in Carbon Fiber Composites Companies
- Polyacrylonitrile (PAN) Carbon Fiber Composites Manufacturers
- Recycled Carbon Fiber Composites Producers
- High-Grade Carbon Fiber Composites Producers
- Consulting Companies in the Chemical Market
- Government And Research Organizations Working in Chemical Industry
- Investment Banks Targeting Chemical Industry
- Carbon Fiber Companies
- Carbon Fiber Association
- Research & Development Institutes for Carbon Fiber
- Carbon Fiber Manufactures
- Carbon Fiber Supplier
- Carbon Fiber Raw Material Provider
- Investment Banks Targeting Carbon Fiber Market
- Fiber Composites Companies
- Fiber Composites Providers
- Fiber Composites Manufacturers
- Fiber Composites Suppliers
- Emerging and Startup Composites Companies in the Market
- Government Departments of Polymers and Other Chemicals
- Ministries and Departments of Paint & Coating
- Ministries and Departments of Construction Materials
- Importers and Distributors of Plastics and Composites
- Chemicals Testing and Regulatory Authorities
- Chemicals Research Institutes
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022-2028F
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