Growing Demand from Wind Power and Pipe & Tank Industries to Drive the Development of Carbon Fiber Market Globally


(EMAILWIRE.COM, August 05, 2022 ) The “Carbon Fiber Market is estimated to be USD 3.7 billion in 2020 and is projected to succeed in USD 8.9 billion by 2031, at a CAGR of 8.6% in the course of the forecast interval. The demand for clear fuels comparable to CNG and hydrogen is rising globally, leading to improve in demand for carbon fibers in CNG and hydrogen tanks manufacturing. Additionally, the expansion in variety of on-shore and off-shore wind capability installations is driving the expansion of carbon fibers in wind vitality trade.

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“Europe is predicted to account for the most important market share within the carbon fiber market in the course of the forecast interval.”

Europe is estimated to have the most important share of the market. Europe led the carbon fiber market as a result of presence of established automotive, aerospace & protection, and wind vitality industries within the area. The area is house to a few of the outstanding automotive producers comparable to BMW, Fiat, and Bentley. These automotive producers use carbon fiber composites in varied structural automotive elements comparable to bonnets, bumpers, and frontends. Moreover, plane producers comparable to Airbus and Boeing use carbon fiber composites in structural elements as they provide rigidity and excessive tensile power.  Furthermore, there are numerous offshore wind vitality installations.

“Composite software contains a serious share of the carbon fiber market, when it comes to worth and quantity.”

The carbon fiber market is split into software segments, which embody composite and non-composite. Carbon fiber composites are utilized in varied industries comparable to aerospace & protection, automotive, wind vitality, sporting items, pipe & tank, civil engineering, and marine. They provide excessive power, rigidity, and excessive tensile power. Within the composite purposes, carbon fiber is especially used within the type of prepreg, moulding compound, and woven material. Prepreg is the most important client of carbon fiber within the composite software section.

“The continual carbon fiber section contains a serious share of the carbon fiber market, when it comes to worth and quantity.”

Steady carbon fiber affords increased tensile power when in comparison with different varieties of carbon fiber merchandise. These fibers can be utilized in layup, weaving, prepregging, filament winding, braiding, and pultrusion processes for manufacturing composites elements for varied end-use industries such aerospace & protection, automotive, and wind vitality. Steady carbon fiber can also be utilized in 3D printing purposes because it affords stiffness and power. Superior properties and enormous variety of purposes are driving the continual carbon fiber section of the market.

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386 – Market Information Tables

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Toray Industries Inc. (Japan), SGL Group (Germany), Hexcel Company (US), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Restricted (Japan), Formosa Plastics Company (Taiwan), Solvay (Belgium), Jiangsu Hengshen Co. Ltd. (China), Hyosung (South Korea), and DowAksa (Turkey) had been a few of the key gamers within the international carbon fiber market. These gamers have adopted varied natural and inorganic developmental methods over the previous 5 years. 

In April 2021, Hyosung Superior Supplies signed a contract with Hanhwa Options. The corporate introduced that it signed a long-term contract to provide bolstered carbon fiber for use for strengthening gasoline tanks in hydrogen autos for six years starting 2021. The full provide is price about 160 billion gained. This settlement will enhance the gross sales of carbon fiber.

In November 2020, SGL Carbon and Koller Kunststofftechnik partnered to fabricate novel carbon fiber profiles to be used in windshields for a future high-volume mannequin of BMW Group. This helped SGL Carbon to enhance their software in car purposes and improve the carbon fiber demand.

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