Carbon Fiber Composites Market Overview, Research Methodology and Opportunities to 2017-2024wind turbines, sports & leisure, construction and marine will contribute significantly towards the business growth. Recycling issues faced by the manufacturer along with supply chain management may hamper the carbon fiber composites market. Producers are focusing on improving their distribution to suffice its increasing demand.
Key players such as Boeing and Airbus are utilizing composite at over 50% by aircraft weight for their recent commercial aircrafts. Reducing price of the commodity will further increase its penetration in mid-range passenger cars. Higher durability along with enhanced strength will replace the traditional materials with these composites.
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Carbon Fiber Composites Market size is estimated to surpass USD 31 billion by 2024; according to a new research report by Global Market Insights, Inc.Global carbon fiber composites market share is expected to exceed 290 kilo tons till 2024. 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.
Strong application outlook of ceramic segment from construction industry will drive the product demand. Superior wear and tear resistance along with excellent thermal stability are the major factors positively influencing the product penetration.
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 carbon fiber composites market size from 2017 to 2024. Additionally, extended shelf life offers bulk buying that will further support the industry.
Aerospace and defense sector dominate the industry, contributing over 30% volume share in 2016. The sector requires superior quality product owing to the need of enhanced properties such as high strength to weight ratio and temperature resistance. North America carbon fiber composites market 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.
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Europe 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.
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.
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Chapter 2. Executive Summary
2.1. Carbon fiber composites industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. End-use trends
2.1.3. Matrix material trends
2.1.4. Regional trends
Chapter 3. Carbon Fiber Composites Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.3. Profit margin analysis
3.3.4. Distribution channel analysis
3.4. Pricing analysis
3.4.1. By region
3.4.2. Cost structure analysis
3.5. Technology landscape
3.6. Regulatory landscape
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology
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