Carbon Fiber Composites Market by Raw Material Type (PAN-Based Carbon Fiber, Pitch-Based Carbon Fiber), Resin Type (Thermoplastic Resin Composites, Thermoset Resin Composites), Manufacturing Process, Application - Global Forecast 2024-2030

Carbon Fiber Composites Market by Raw Material Type (PAN-Based Carbon Fiber, Pitch-Based Carbon Fiber), Resin Type (Thermoplastic Resin Composites, Thermoset Resin Composites), Manufacturing Process, Application - Global Forecast 2024-2030


The Carbon Fiber Composites Market size was estimated at USD 19.35 billion in 2023 and expected to reach USD 20.58 billion in 2024, at a CAGR 6.49% to reach USD 30.07 billion by 2030.

Carbon fiber composites are materials made by combining carbon fibers with a polymer matrix, including epoxy or resin. The carbon fibers are extremely thin strands of carbon known for their strength and stiffness. This composite material possesses high stiffness, tensile strength, chemical resistance, temperature tolerance, and low thermal expansion. Exponential demand in the aerospace and defense industries, rising penetration of carbon fiber composites in automotive applications, and increasing shift towards sustainable energy sources are increasingly driving the demand for carbon fiber composites. However, compatibility and integration issues with existing systems and environmental impacts of carbon fiber composite production can deter market growth. Nevertheless, several government policies and incentives supporting advanced materials and advances in carbon fiber composites production technologies are expected to create potential opportunities for the carbon fiber composites market.

Regional Insights

The Americas are evolving and witnessing growth in the adoption and manufacturing of carbon fiber composites, mainly driven by its robust aerospace, automotive, and energy sectors. A significant emphasis is on lightweight and high-strength materials to enhance fuel efficiency and performance. Recent investments include major manufacturers' expansion in production facilities, and consumer needs focusing on durability and efficiency, influencing purchasing behavior towards high-performance composites. European Union countries have actively incorporated carbon fiber composites in the automotive, wind energy, and aerospace industries. The EU promotes innovation and sustainability, as evidenced by project funding, and Germany, France, and the UK significantly contribute to examination and development. The usage of carbon fiber composites across the Middle East is growing, particularly in luxury automotive and construction applications. The region focuses on diversifying from oil-based economies with investments in new technologies. The market is nascent in Africa, with South Africa evolving in adoption, mainly in the automotive and aerospace sectors. Asia-Pacific has seen rapid growth in the use of carbon fiber composites due to its burgeoning automotive and aerospace industries. The government's support for new material technologies and local manufacturing has led to significant domestic production. Government initiatives to support infrastructure and the growing manufacturing sector favorably impact the market.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Carbon Fiber Composites Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
  • Exponential demand in the aerospace and defense industries
  • Surge in penetration of carbon fiber composites in automotive applications
  • Increasing shift towards sustainable energy sources
Market Restraints
  • Compatibility and integration issues with existing systems
Market Opportunities
  • Government policies and incentives supporting advanced materials
  • Advances in production technologies of carbon fiber composites
Market Challenges
  • Environmental impacts of carbon fiber composite production
Market Segmentation Analysis
  • Raw Material Type: Proliferating usage of the polyacrylonitrile (PAN) based carbon fiber owing to their high strength and stiffness
  • Application: Evolving applications of carbon fiber composites across wind energy sector
Market Disruption Analysis
  • Porter’s Five Forces Analysis
  • Value Chain & Critical Path Analysis
  • Pricing Analysis
  • Technology Analysis
  • Patent Analysis
  • Trade Analysis
  • Regulatory Framework Analysis
FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Carbon Fiber Composites Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Carbon Fiber Composites Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

UBE Corporation Advances Sustainability with New Recycled Carbon Fiber Composites

UBE Corporation introduced an innovative line of composite products crafted from recycled carbon fibers. This innovation is part of UBE's strategic initiative to mitigate greenhouse gas (GHG) emissions and lessen its environmental footprint. The new composites are intended to offer the same performance as traditional carbon fiber materials while significantly reducing waste and conserving resources. This approach supports sustainable development goals and aligns with global trends favoring environmentally responsible manufacturing practices.

Hexcel Introduces Advanced Hextow IM9 24K Carbon Fiber for High-Performance Applications

Hexcel Corporation announced the launch of its new carbon fiber, the Hextow IM9 24K, designed to meet the evolving needs of high-performance applications across various industries, including aerospace, automotive, and military. The innovative carbon fiber boasts increased tensile strength and modulus over its predecessors, promising enhanced durability and efficiency for complex engineering projects. The introduction of Hextow IM9 24K underscores Hexcel's commitment to pioneering advancements in composite technology, offering a product that elevates performance and maintains a strong focus on quality and reliability in demanding environments.

SGL Carbon Innovates with Enhanced Carbon Fiber for High-Strength Pressure Vessels

SGL Carbon expanded its product portfolio by introducing a new type of carbon fiber specifically engineered for manufacturing high-strength pressure vessels. This innovative carbon fiber material is designed to meet rising demand for lightweight yet durable composite materials in various industries, including aerospace, automotive, and industrial gas storage. The new carbon fiber offers superior strength and performance characteristics, aligning with stringent industry standards and increasing the efficiency of pressure vessels, which are crucial for safe and effective gas storage at high pressures.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Carbon Fiber Composites Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Carbon Fiber Composites Market, highlighting leading vendors and their innovative profiles. These include Albany Engineered Composites, Inc., BASF SE, Cytec Industries Inc., DowAksa Advanced Composites Holdings B.V., Formosa Plastics Corporation, Gurit Holding AG, Hexcel Corporation, Hyosung Advanced Materials Corporation, Jiangsu Hengshen Co Ltd., Jushi Group Co., Ltd., Koninklijke DSM N.V., Kureha Corporation, Mitsubishi Chemical Corporation, Nippon Graphite Fiber Corporation, Owens Corning, Rock West Composites, Inc., Royal TenCate N.V., Saertex GmbH & Co. KG, SGL Carbon SE, SK Chemicals Co., Ltd., Solvay SA, Teijin Limited, Toray Industries, Inc., and Zoltek Companies, Inc..

Market Segmentation & Coverage

This research report categorizes the Carbon Fiber Composites Market to forecast the revenues and analyze trends in each of the following sub-markets:
  • Raw Material Type
  • PAN-Based Carbon Fiber
  • Pitch-Based Carbon Fiber
  • Resin Type
  • Thermoplastic Resin Composites
  • Thermoset Resin Composites
  • Manufacturing Process
  • Compression Molding
  • Lay-Up Process
  • Pultrusion
  • Application
  • Aerospace & Defense
  • Automotive
  • Sporting Goods
  • Wind Energy
Region
  • Americas
  • Argentina
  • Brazil
  • Canada
  • Mexico
  • United States
  • California
  • Florida
  • Illinois
  • New York
  • Ohio
  • Pennsylvania
  • Texas
  • Asia-Pacific
  • Australia
  • China
  • India
  • Indonesia
  • Japan
  • Malaysia
  • Philippines
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Vietnam
  • Europe, Middle East & Africa
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Israel
  • Italy
  • Netherlands
  • Nigeria
  • Norway
  • Poland
  • Qatar
  • Russia
  • Saudi Arabia
  • South Africa
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • United Arab Emirates
  • United Kingdom


Please Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Exponential demand in the aerospace and defense industries
5.1.1.2. Surge in penetration of carbon fiber composites in automotive applications
5.1.1.3. Increasing shift towards sustainable energy sources
5.1.2. Restraints
5.1.2.1. Compatibility and integration issues with existing systems
5.1.3. Opportunities
5.1.3.1. Government policies and incentives supporting advanced materials
5.1.3.2. Advances in production technologies of carbon fiber composites
5.1.4. Challenges
5.1.4.1. Environmental impacts of carbon fiber composite production
5.2. Market Segmentation Analysis
5.2.1. Raw Material Type: Proliferating usage of the polyacrylonitrile (PAN) based carbon fiber owing to their high strength and stiffness
5.2.2. Application: Evolving applications of carbon fiber composites across wind energy sector
5.3. Market Disruption Analysis
5.4. Porter’s Five Forces Analysis
5.4.1. Threat of New Entrants
5.4.2. Threat of Substitutes
5.4.3. Bargaining Power of Customers
5.4.4. Bargaining Power of Suppliers
5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis
6. Carbon Fiber Composites Market, by Raw Material Type
6.1. Introduction
6.2. PAN-Based Carbon Fiber
6.3. Pitch-Based Carbon Fiber
7. Carbon Fiber Composites Market, by Resin Type
7.1. Introduction
7.2. Thermoplastic Resin Composites
7.3. Thermoset Resin Composites
8. Carbon Fiber Composites Market, by Manufacturing Process
8.1. Introduction
8.2. Compression Molding
8.3. Lay-Up Process
8.4. Pultrusion
9. Carbon Fiber Composites Market, by Application
9.1. Introduction
9.2. Aerospace & Defense
9.3. Automotive
9.4. Sporting Goods
9.5. Wind Energy
10. Americas Carbon Fiber Composites Market
10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States
11. Asia-Pacific Carbon Fiber Composites Market
11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam
12. Europe, Middle East & Africa Carbon Fiber Composites Market
12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom
13. Competitive Landscape
13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
13.3.1. UBE Corporation Advances Sustainability with New Recycled Carbon Fiber Composites
13.3.2. Hexcel Introduces Advanced Hextow IM9 24K Carbon Fiber for High-Performance Applications
13.3.3. SGL Carbon Innovates with Enhanced Carbon Fiber for High-Strength Pressure Vessels
13.4. Strategy Analysis & Recommendation
14. Competitive Portfolio
14.1. Key Company Profiles
14.2. Key Product Portfolio

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