The carbon composites market is estimated to be at 205.90 kilotons by the end of this year. It is projected to reach 298.10 kilotons in the next five years, registering a CAGR of over 7.68% during the forecast period.
COVID-19 had a negative impact on the carbon composites sector. Global lockdowns and severe rules enforced by governments resulted in a catastrophic setback as most production hubs were shut down. Nonetheless, the business has been recovering since 2021 and is expected to rise significantly in the coming years.
The global carbon composites market is partially fragmented in nature. The major players (not in any particular order) include Toray Industries Inc., Solvay, Hexcel Corporation, Teijin Limited, and SGL Carbon SE, among other companies.
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