Carbon Composites Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Matrix (Hybrid, Metal, Ceramic, Carbon, and Polymer), Process (Prepeg Layup Process, Pultrusion and Winding, Wet Lamination & Infusion Process, Press and Injection Processes), Application (Aerospace & Defense, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine Applications, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa).

Market Snapshot

Carbon Composites Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: >9 %

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Market Overview

The global carbon composites market is expected to grow at with a CAGR greater than 9% during the forecast period. One of the major factors driving the market is the increasing demand for sustainable product solutions and material systems. However, high cost associated with carbon composite manufacturing is hindering the growth of the market studied. 

  • Another major driving factors of the market studied includes lower waste generation of carbon composites in comparison to other composites.
  • North America accounts for the highest market share and is expected to dominate the market during the forecast period.
  • Among the applications, aerospace & defense application dominated the market studied and is expected to dominate the market studied during the forecast period.

Scope of the Report

The Global Carbon Composites market report include: 

Matrix
Hybrid
Metal
Ceramic
Carbon
Polymer
Thermosetting
Thermoplastic
Others
Process
Prepeg Layup Process
Pultrusion and Winding
Wet Lamination & Infusion Process
Press and Injection Processes
Others
Application
Aerospace & Defense
Automotive
Wind Turbines
Sport & Leisure
Civil Engineering
Marine Applications
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East & Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa

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Key Market Trends

Aerospace & Defense Application to Dominate the Market

  • Carbon composites are used for both structural applications and components in all aircrafts and spacecraft, from hot air balloon gondolas and gliders to passenger airliners and space shuttles. 
  • Some major applications include wing assemblies, rotor blades, propellers, instrument enclosures, seats, etc. The usage of carbon composites reduces the overall weight of the aircraft components significantly.
  • The usage of these materials in defense applications is majorly due to their ability to withstand high shocks and sudden impacts. Composite technology continues to advance, thus increasing its usage in aerospace & defense application.
  • The growing defense spending across the globe is a major driving factor for the demand of carbon composites in the aerospace & defense sector.
  • Hence, owing to the above-mentioned reasons, the aerospace & defense sector is expected to dominate the market studied.
Carbon Composites Market - Revenue Share

North America to Dominate the Market

  • North America accounts for the highest share of the global carbon composites market. Majority of the demand for the carbon composites comes from the end-user industries like aerospace & defense, construction, sports & leisure, etc.
  • The aerospace & defense industry of the United States is the largest in the world. It is also the largest exporter of commercial aircrafts. The growing investments in the defense and aerospace sector in the region are contributing to the growth of the carbon composite market in the country.
  • Additionally, the construction industry in the country is also witnessing a significant growth in the country. This growth is likely to boost the demand for carbon composites in the country.
  • Hence, owing to the above-mentioned trends North America is likely to dominate the market studied during the forecast period.
Carbon Composites Market - Regional Trend

Competitive Landscape

The global carbon composites market is moderately fragmented as the market share is divided between many players. Key players in the market include Toray Industries, Inc., Hexcel Corporation, SGL Group, and TEIJIN LIMITED., among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing demand for sustainable product solutions and material systems

      2. 4.1.2 Generation of small amount of waste compared to other material classes

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 High Cost for Manufcaturing in Comparison to Other Composites

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Matrix

      1. 5.1.1 Hybrid

      2. 5.1.2 Metal

      3. 5.1.3 Ceramic

      4. 5.1.4 Carbon

      5. 5.1.5 Polymer

        1. 5.1.5.1 Thermosetting

        2. 5.1.5.2 Thermoplastic

      6. 5.1.6 Others

    2. 5.2 Process

      1. 5.2.1 Prepeg Layup Process

      2. 5.2.2 Pultrusion and Winding

      3. 5.2.3 Wet Lamination & Infusion Process

      4. 5.2.4 Press and Injection Processes

      5. 5.2.5 Others

    3. 5.3 Application

      1. 5.3.1 Aerospace & Defense

      2. 5.3.2 Automotive

      3. 5.3.3 Wind Turbines

      4. 5.3.4 Sport & Leisure

      5. 5.3.5 Civil Engineering

      6. 5.3.6 Marine Applications

      7. 5.3.7 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Cytec Solvay Group

      2. 6.4.2 Nippon Carbon Co Ltd.

      3. 6.4.3 TORAY INDUSTRIES, INC.

      4. 6.4.4 TEIJIN LIMITED

      5. 6.4.5 Mitsubishi Rayon Co., Ltd.

      6. 6.4.6 Carbon Composites, Inc.

      7. 6.4.7 SGL Carbon

      8. 6.4.8 Hexcel Corporation

      9. 6.4.9 ZHONGFU SHENYING CARBON FIBER CO.,LTD.

      10. 6.4.10 Moldex Composites Pvt Ltd

      11. 6.4.11 Epsilon Composite

      12. 6.4.12 Plasan Carbon Composites

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Emerging Applications in the Optical Fiber Industry

**Subject to Availability

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Frequently Asked Questions

The Carbon Composites Market market is studied from 2016 - 2026.

The Carbon Composites Market is growing at a CAGR of >9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

TORAY INDUSTRIES, INC., Hexcel Corporation, SGL Carbon., TEIJIN LIMITED., Nippon Carbon Co Ltd. are the major companies operating in Carbon Composites Market.

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