Market Size of Europe Carbon Fiber Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 12.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Carbon Fiber Market Analysis
The carbon fiber market in Europe is estimated to witness significant growth, at an estimated CAGR of over 12%, during the forecast period.
The COVID-19 pandemic significantly impacted the worldwide automobile and aerospace industries, considering a temporary halt in end-user operations owing to government-imposed lockdowns in many parts of the world. In the post-pandemic scenario, however, the industry recovered and is anticipated to grow significantly over the next few years.
- The major factors driving the market's growth are the increasing demand for fuel-efficient and lightweight vehicles and recent advancements in the aerospace and defense industry.
- However, supply chain security for recycled carbon fiber and substitutes' availability was restraining the market studied.
- The increasing popularity of recycled carbon fiber, the emphasis on using lignin as raw material for carbon fiber, and the increasing application in the wind energy sector are likely to act as opportunities for the market studied over the forecast period.
- Germany accounted for the largest market share and is expected to remain dominant during the forecast period.
