Carbon Fiber Market to Grow by USD 2.48 Billion (2024-2028) as Aerospace and Defense Adoption Rises, Report with AI-Powered Market Evolution – Technavio

NEW YORK CITY, Nov. 27, 2024/ PRNewswire/– Report on how AI is driving market change – The international carbon fiber market size is approximated to grow by USD 2.48 billion from 2024-2028, according to Technavio. The marketplace is approximated to grow at a CAGR of practically 6.5% throughout the projection duration. Increasing usage of carbon fibers in aerospace and defense sector is driving market development, with a pattern towards energy-intensive production procedure. Nevertheless, high competitors from replacements postures a challenge.Key market gamers consist of 3M Co., China Composites Group Corp. Ltd., DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Evonik Industries AG, Formosa M Co. Ltd., Hexcel Corp., Hyosung Advanced Products, Kordcarbon AS, Kureha Corp., Mitsubishi Chemical Corp., Nippon Steel Corp., Osaka Gas Co. Ltd., Saudi Arabian Oil Co., SGL Carbon SE, SIMCO Innovation and Systems Ltd., Solvay SA, Taekwang Group, Teijin Ltd., Toray Industries Inc., and UMATEX ROSATOM State Corp.

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Secret Market Trends Sustaining Development

The Carbon Fiber market is experiencing considerable development in different markets, consisting of Aerospace, Civil Engineering, Armed Force, Motorsports, and the Renewable resource sector. SGL Carbon, a leading gamer, produces Carbon Fiber utilizing both inorganic and natural methods from precursor products like Polyacrylonitrile and Pitch. The resulting CFRP composites provide high tensile strength, low weight-to-strength ratio, and exceptional rust resistance. Secret applications consist of Pressure Vessels, Fuel Cell Automobiles, High-end Cars, and Electric Cars. In the Aerospace & & Defense market, Carbon Fiber is utilized for fuel-efficient industrial air travel and light-weight military airplane. In the Renewable resource sector, Carbon Fiber is necessary for Wind Energy applications, especially in Wind Turbine Blades. Production procedures like Automated Fiber Positioning and Resin Infusion enhance production, minimizing expenses while keeping quality. Carbon Fiber’s light-weight nature and remarkable homes add to Fuel Performance, Energy Performance, and lowered CO2 emission levels in different applications.

The carbon fiber market includes the production of carbon fiber strengthened plastic (CFRP) composites through an energy-intensive production procedure. This procedure consists of the extraction of mineral oil, which needs considerable energy for separation, refining, characterization, and polymerization. Carbon fiber precursors and basic materials, necessary parts of polymer resin, are originated from petrochemical procedures. The production of carbon and glass fibers requires heats. Glass fiber strengthened plastics (GFRPs) are extensively utilized in different applications such as printed circuit boards (PCBs), tanks and pipelines, automobile body panels, and wind turbine blades. In spite of their advantages, the high melting point of glass fibers postures ecological issues.

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Market Obstacles

• The Carbon Fiber market is experiencing considerable development due to its usage in different markets such as Aerospace, Civil Engineering, Armed Force, Motorsports, and the Renewable resource sector. The main obstacles in producing Carbon Fiber consist of making use of precursor products like Polyacrylonitrile, Pitch, and Vinyl Ester, in addition to the production procedures like Automated Fiber Positioning and Resin Infusion. SGL Carbon and other leading gamers control the marketplace, providing CFRP composites for Lightweight Automobiles in the Automotive and High-end Cars and truck markets, Fuel Effective Automobiles, and Electric Cars. The Aerospace and Defense sector depends on Carbon Fiber for its high Tensile Strength, Low Weight-to-Strength Ratio, and Deterioration Resistance. In the Renewable resource sector, Carbon Fiber is utilized in Wind Energy applications, especially for Wind Turbine Blades, due to its Lightweight Residential Or Commercial Property and Energy Performance. Making use of Carbon Fiber in Pressure Vessels and Fuel Cell Automobiles likewise uses benefits in regards to Fuel Intake and CO2 Emission Levels. Organic and Inorganic methods are utilized to produce Carbon Fiber, with Pitch-based Carbon Fiber being a popular option due to its Little Tow and Big Tow applications. The marketplace for Carbon Fiber continues to broaden, with possible chances in Commercial Air travel, Sports or Leisure, and Molding and Substance markets.
• The carbon fiber market includes different markets, consisting of automobile, aerospace and defense, building, and wind energy. Nevertheless, options like glass fiber, aluminum, copper, basalt fiber, aramid fibers, and natural fiber present considerable competitors. Basalt fiber, originated from volcanic rocks, uses benefits such as thermal stability, high-temperature filtering, exceptional acid and UV resistance, and high energy-electromagnetic radiation. These homes make it a popular option for support in building and automobile applications. In spite of these advantages, carbon fiber deals with obstacles from replacements with comparable end-uses.

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Sector Summary

This carbon fiber market report thoroughly covers market division by

1. End-user

• 1.1 Aerospace and defense
• 1.2 Sports and leisure
• 1.3 Wind energy
• 1.4 Automotive
• 1.5 Others

• 2.1 PAN-based
• 2.2 Pitch-based
• 2.3 Rayon-based

• 3.1 The United States And Canada
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Aerospace and defense- Carbon fiber is a popular product in the aerospace and defense markets due to its special homes, consisting of high tensile strength, low weight, and exceptional resistance to rust and tiredness. Its high strength-to-weight ratio makes it a favored option for airplane parts and structures. Significant airplane producers, such as Boeing and Jet, utilize carbon fiber-reinforced plastics thoroughly in their industrial aircrafts, such as the Boeing 787 and Jet A350XWB, which include over 50% carbon fiber by weight. The United States and Europe are the leading customers of carbon fiber in the aerospace and defense sector, with Boeing, Jet, and Bombardier Aerospace being significant customers. Toray Industries is a prominent provider of carbon fiber composite products for the Boeing 787. Carbon fibers are likewise utilized in defense applications, such as aerial drones, armored battling lorries, submarines, and body armors, due to their light-weight, high tightness, and remarkable heat and fire resistance. The growing air travel market and increasing airplane production are anticipated to drive the development of the international carbon fiber market in the aerospace market throughout the projection duration.

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Research Study Analysis

Carbon fiber is a high-performance light-weight product renowned for its extraordinary tensile strength and low weight-to-strength ratio. It is a composite product including a polymer matrix strengthened with carbon fibers, mainly made from precursor products like Polyacrylonitrile (PAN) and Pitch. The production procedure includes heating these precursors to produce fibers, which are then woven or laid into mats and fertilized with a resin. Carbon fiber discovers substantial applications in different markets, consisting of aerospace, civil engineering, military, motorsports, fuel cell lorries, and wind energy. In aerospace, it is utilized to produce light-weight yet strong parts for industrial air travel and military airplane, minimizing fuel usage and CO2 emission levels. In civil engineering, carbon fiber is utilized for support in structures to increase their energy effectiveness and resilience. In the automobile market, it is utilized in fuel-efficient lorries to decrease weight and enhance efficiency. In the military sector, carbon fiber is utilized to produce pressure vessels and other vital parts due to its high strength-to-weight ratio. In motorsports, carbon fiber is utilized to build light-weight and resilient race vehicles and bike frames. In the wind energy sector, carbon fiber is utilized to produce wind turbine blades, increasing their effectiveness and minimizing their weight.

Marketing Research Summary

Carbon fiber is a high-performance light-weight product understood for its extraordinary tensile strength, low weight-to-strength ratio, and rust resistance. It is a composite product made from carbon fibers embedded in a polymer matrix. Precursor products for carbon fiber production consist of polyacrylonitrile (PAN), pitch, and vinyl ester. The procedure of developing carbon fiber can be classified into inorganic and natural methods. Carbon fiber discovers substantial applications in different markets such as aerospace, civil engineering, military, motorsports, and automobile. In aerospace, carbon fiber strengthened polymer (CFRP) composites are utilized in airplane structures for their high strength-to-weight ratio, adding to sustain effectiveness and lowered CO2 emission levels. In civil engineering, carbon fiber is utilized in the building of bridges and pressure vessels due to its remarkable strength and resilience. In the automobile sector, carbon fiber is utilized in the production of light-weight lorries, consisting of high-end vehicles and electrical vehicles, resulting in increased fuel effectiveness and energy effectiveness. The renewable resource sector, especially wind energy, uses carbon fiber in the production of wind turbine blades, boosting their resilience and minimizing upkeep expenses. Carbon fiber is likewise utilized in the sports and leisure market for molding and compounding, supplying exceptional efficiency and resilience. The little tow and big tow carbon fibers are utilized in different applications, consisting of fuel-efficient lorries, industrial air travel, and wind turbines. Carbon fiber’s chemical attack resistance and high strength make it a perfect product for different applications, consisting of pressure vessels and fuel cell lorries.

Tabulation:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Division

• End-user
• Aerospace And Defense
• Sports And Leisure
• Wind Energy
• Automotive
• Others
• Basic Material
• PAN-based
• Pitch-based
• Rayon-based
• Location
• The United States And Canada
• Europe
• APAC
• South America
• Middle East And Africa

7 Consumer Landscape
8 Geographical Landscape
9 Chauffeurs, Obstacles, and Patterns
10 Business Landscape
11 Business Analysis
12 Appendix

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SOURCE Technavio