Carbon Fiber Composites Market Trends Analysis to 2024 Profiling SGL, Toray+Zoltek, Toho, Rock West Comp., MRC and Solvay

MaketStudyReport.com adds a New Carbon Fiber Composites Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a steady CAGR to 2024.

Carbon Fiber Composites Market is estimated to surpass USD 31 billion by 2024. 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.
Increasing penetration in various end-use industries such as automotive, wind 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.

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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.

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 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.

Automotive industry is expected to account for considerable volume share and will exhibit highest growth at over 13% till 2024. Rising usage of the components offering superior strength along with light weight will support the carbon fiber composites market growth.

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.

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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.

Mergers and acquisitions is the key strategy adopted by the carbon fiber composites manufacturers that offers them a competitive edge. For instance, in March 2014, Toray acquired Zoltek to achieve a leading position in the market. Moreover, price reduction is another move adopted by producers to penetrate in various end-use industry.

Carbon Fiber Composites market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2013 to 2024, for the following segments:

Carbon Fiber Composites Market by End-Use:
Aerospace, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine, Others.

Carbon Fiber Composites Market by Matrix Material:
Polymer, Thermosetting, Thermoplastics, Carbon, Ceramics, Metal, Hybrid.
The above information is provided on a regional basis for the following:
North America, U.S., Canada, Europe, Germany, UK, France, Spain, Italy, Russia, Asia Pacific, China, India, Japan, South Korea, Australia, Latin America, Brazil, Mexico, Argentina, Middle East and Africa, South Africa, Saudi Arabia.

For More Details of this Report: https://www.marketstudyreport.com/reports/carbon-fibre-composites-market

Related Report:

Global Automotive Carbon Fiber Composites Market Professional Survey Report 2018

This report studies Automotive Carbon Fiber Composites in Global market, especially in North America, China, Europe, Southeast Asia, Japan and India, with production, revenue, consumption, import and export in these regions, from 2012 to 2016, and forecast to 2022.

https://www.marketstudyreport.com/reports/global-automotive-carbon-fiber-composites-market-professional-survey-report-2018/?utm_source=RR-PSR

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