The Europe carbon fiber market is projected to register a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to rising demand for light weight and fuel-efficient vehicles in various industries.
Carbon fiber is made up of a lengthy strand of carbon atoms linked together. The fibers are rigid, robust, and lightweight. The aircraft and aerospace industries, as well as wind energy and the automobile sector with improved resin systems, have the major demand for carbon fiber.
Carbon fiber was first developed in the late 1950s and made its debut in footwear over a decade ago owing to its lightweight and stiff properties, then due to its structure and properties established a global demand in various industries.
Major carbon fiber manufacturing in the Europe is done in Hungary, Germany, France, and the United Kingdom and the laws governing carbon fiber exports are less stringent.
Market Trends, Drivers, Restraints, and Opportunities
- The EU renewal energy policies and support of the wind energy sector are projected to boost the market during the forecast period.
- Obligatory vehicle emission reduction targets are anticipated to drive the market.
- Less restrictive trade policies on carbon fiber export in the region are the major factor fueling the market.
- Rising aircraft manufacturing industries in the region are major factors boosting the market in the coming years.
- High cost of production act as key challenges that can hinder the market growth.
- Strong policies for intellectual property rights on research and development of carbon fibers are expected to create significant opportunities for the market players.
Scope of Carbon Fiber Market Report
The report on the Europe carbon fiber market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Europe carbon fiber market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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End-user Industries (Alternative Energy, Sporting Goods, Automotive, Aerospace & Defense, Construction & Infrastructure, and Others), Types (Recycled Fiber and Virgin Fiber), Raw Material (Polyacrylonitrile and Petroleum Pitch & Rayon), Applications (Textiles, Microelectrodes, Composite Materials, and Catalysis)
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Regional Scope
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Europe
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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TEIJIN LIMITED; TORAY INDUSTRIES, INC; Mitsubishi Chemical Carbon Fiber and Composites Inc.; SGL Carbon, Solvay
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Carbon Fiber Market Segment Insights
The aerospace & defense segment is expected to grow at a rapid pace
In terms of end-user industries, the Europe carbon fiber market is divided into alternative energy, sporting goods, automotive, aerospace & defense, construction & infrastructure, and others. The aerospace & defense segment is expected to account for a key share of the market during the forecast period owing to rising European aerospace & defense industries as a world leader in all subsectors such as land & naval, civil aeronautics, military aeronautics, and space.
The recycled fiber segment is anticipated to hold major market share
On the basis of types, the Europe carbon fiber market is bifurcated into recycled fiber and virgin fiber. The recycled fiber segment is expected to constitute a key share of the market in the coming years owing to a low-cost alternative for many commercial applications.
The polyacrylonitrile segment is anticipated to expand at a rapid CAGR
Based on raw material, the Europe carbon fiber market is bifurcated into polyacrylonitrile and petroleum pitch & rayon. The polyacrylonitrile segment is expected to hold a key share of the market during the forecast period owing to possibility to recycle and less environmental effect.
The composite materials segment is projected to account for a large market share
On the basis of applications, the Europe carbon fiber market is segmented into textiles, microelectrodes, composite materials, and catalysis. The composite materials segment is anticipated to represent a large market share owning to rising carbon-carbon (C-C) composites production for missile and military aircraft components, rocket nozzles, strategic missile exit cones, and military aircraft braking discs.
Segments
The Europe carbon fiber market has been segmented on the basis of
Technologies
- Alternative Energy
- Sporting Goods,
- Automotive
- Aerospace & Defense
- Construction & Infrastructure
- Others
Types
- Recycled Fiber
- Virgin Fiber
Raw Material
- Polyacrylonitrile
- Petroleum Pitch & Rayon
Applications
- Textiles
- Microelectrodes
- Composite Materials
- Catalysis
Region
Key Market Players
Competitive Landscape
Key players competing in the Europe carbon fiber market include TEIJIN LIMITED; TORAY INDUSTRIES, INC; Mitsubishi Chemical Carbon Fiber and Composites Inc.; SGL Carbon, Solvay.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
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