Carbon Composites Market Growth to be Driven by Emerging Trends | $28.25 Billion by 2029

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What is the Projected Market Size of the Carbon Composites Industry?
In the recent past, the carbon composites market has witnessed a significant expansion in its size. The market, worth $20.57 billion in 2024, is projected to rise to $21.71 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.6%. This growth during the historical period can be traced back to factors including the formulation of regulations and standards, government policies, advancement in sports equipment, infrastructural and construction developments, and the proliferation of electric vehicles.

What Will Be the Size of the Carbon Composites Market by 2029?
The market for carbon composites is projected to experience substantial growth in the upcoming years, with an expected valuation of $28.25 billion by 2029, progressing at a compound annual growth rate (CAGR) of 6.8%. The anticipated growth within the forecast period is due to factors such as rising demand for durable materials, growth in consumer electronics, enhanced awareness about sustainability and the impact of lifecycle, launch of new aerospace initiatives, and tougher safety regulations in the automotive sector. Expected trends during the forecast period consist of an increased focus on 3D printing, topology optimization, wider adoption of AI and machine learning, green chemistry and biocomposites, and in-situ curing and manufacturing.

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What Are the Key Drivers Accelerating Growth in the Carbon Composites Market?
The carbon composites market's growth is expected to be boosted by the advancement of the automotive industry. This industry encompasses the sectors of the economy responsible for designing, developing, manufacturing, and selling motor vehicles. The rise of the automotive industry can be attributed to the increasing international demand for personal transportation and significant enhancement in electric vehicle technologies. Carbon composites are beneficial for this sector since they help reduce the weight of the vehicles, accelerating performance, improving fuel efficiency, and decreasing emissions, all while maintaining durability and strength. For example, the British automobile production, as reported by the UK-based Society of Motor Manufacturers and Traders in February 2024, saw an upsurge by 21.0% to 82,997 units in January 2024. Also, there was an 11.6% increase in export volumes and a production rise of 4.5% to 29,590 units for electrified vehicles. Consequently, the growth of the carbon composites market is mainly due to the automotive industry expansion.

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How Is the Carbon Composites Market Segmented by Type, Application, and Region?
The carbon composites market covered in this report is segmented -

1) By Type: Virgin Fiber (VCF), Recycled Fiber (RCF)
2) By Matrix: Hybrid, Metal, Ceramic, Carbon, Polymer
3) By Process: Prepreg Layup Process, Pultrusion And Winding, Wet Lamination And Infusion Process, Press And Injection Processes, Other Processes
4) By Application: Composite, Non-Composite, Other Application
5) By End-User: Aerospace, Automotive, Wind Turbines, Sport And Leisure, Civil Engineering, Marine

Subsegments:
1) By Virgin Fiber (VCF): Carbon Fiber Reinforced Polymer (CFRP), Carbon Fiber Reinforced Plastic (CFRP)
2) By Recycled Fiber (RCF): Recycled Carbon Fiber (rCF), Recycled Carbon Fiber Reinforced Polymer (rCFRP)

What Are the Key Trends Driving Growth in the Carbon Composites Market?
Key businesses in the carbon composites sector are concentrating their efforts on creating improved materials, such as carbon fiber-infused heat-resilient ceramic matrix composites, to boost performance and stability in severe conditions. These carbon fiber-based heat-resilient ceramic matrix composites (CMCs) are boutique materials engineered to marry carbon fibers' noteworthy power and stiffness with ceramic matrices' thermal and chemical steadiness. Take for example, Mitsubishi Chemical Group, a chemical enterprise from Japan, unveiled a high heat-resilient ceramic matrix composite (CMC), capable of withstanding temperatures of up to 1,500°C in February 2024, by choosing to work with pitch-based carbon fibers as an alternative to the traditional ceramic fibers. This breakthrough material retains its power even after extensive exposure to extreme heat, proving its worth for aerospace uses, specifically for reusable space transportation systems.

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Who Are the Leading Companies Driving Growth in the Carbon Composites Market?
Major companies operating in the carbon composites market are Northrop Grumman Corporation, Mitsubishi Chemical Holdings Corporation, 3M Company, Toray Industries Inc., Solvay S.A., Teijin Limited, GKN Aerospace Services Limited, Zhongfu Shenying Carbon Fiber Co Ltd., Epsilon Composite SAS, Hexcel Corporation, TPI Composites Inc., Freudenberg Performance Materials, Mersen S.A., Kordsa Global, SGL Carbon SE, Rockman Industries Limited, Hexagon Composites, SAERTEX GmbH and Co. KG, Mubea Fahrwerksfedern GmbH, CFC Carbon Co Ltd., Toyo Tanso Co Ltd., Advanced Composites Inc., Dowaksa Advanced Composites, China Composites Group Corporation Ltd., Carbon Composites Inc.

Which Is the Leading Region in the Global Carbon Composites Market?
Asia-Pacific was the largest region in the carbon composites market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the carbon composites market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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This release was published on openPR.