According to a recent survey conducted by ChemView Consulting, the Global Carbon Fiber Composites Market grew at a CAGR of 6.8% between2017-2021 and is estimated to be US$ 13,974.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 7.9% and is expected to reach a valuation of US$ 29,891.1Mn by 2032 end.
Carbon fiber composites are advanced materials made from a combination of carbon fibers and a matrix material, typically a polymer resin. Carbon fibers are extremely strong, lightweight, and have high tensile strength and stiffness. They are produced by heating and stretching precursor materials, such as polyacrylonitrile (PAN) fibers or pitch fibers, at high temperatures.
The carbon fibers are then combined with a matrix material, such as epoxy resin, to form carbon fiber composites. The resulting material exhibits exceptional mechanical properties, including high strength-to-weight ratio, excellent fatigue resistance, and low thermal expansion. Carbon fiber composites are known for their superior performance in applications that demand lightweight yet strong materials.
These composites are widely used across various industries, including aerospace, automotive, sports and leisure, wind energy, and construction. In the aerospace sector, carbon fiber composites are employed in the manufacturing of aircraft components, such as wings, fuselages, and structural parts, to reduce weight and enhance fuel efficiency. In the automotive industry, they are used for lightweight body panels, interior components, and suspension parts to improve fuel economy and performance.
Sports equipment, such as bicycles, tennis rackets, golf clubs, and fishing rods, often utilize carbon fiber composites due to their strength and stiffness characteristics. The wind energy sector relies on these composites for manufacturing turbine blades that can withstand high loads while maintaining structural integrity.
The construction industry has also started incorporating carbon fiber composites for reinforcing concrete structures, increasing their load-bearing capacity and resistance to earthquakes and harsh environmental conditions.
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A list of some of the key suppliers present in the market are:
- Toray+Zoltek
- SGL Carbon
- Toho
- MRC
- Hexcel Corporation
- Rock West Composites
- Hengshen
- Mitsubishi Chemical Fiber Corporation
- Teijin Limited
- Solvay
Report Coverage and Highlights
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
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About ChemView Consulting:
ChemView Consulting is a leading market research firm in the Asia Pacific, with expertise in Chemicals Materials, Food Beverages, Packaging, Oil Gas, New Renewable Energy, and Disruptive Technologies. We are one of the top market intelligence firms specializing in business analytics with an expertise in the ever-growing chemicals industry. We track high-growth markets with innovative ideas and opportunities insights through B2B research.
Our client base ranges from industry experts, investors, top companies in the chemicals; and oil gas industry to SMEs, start-ups, and new entrants. We have worked with over 100 companies to upscale their position as the global leader in the chemical materials landscape with our cutting-edge analytics and advisory services.
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