Carbon Fiber Resin Market to Surpass US$ 2,377 Million by 2032 Amid Rising Application in Aerospace & Defense Industry

- Carbon Fiber Resin Market to Expand by 4X, with Sales to Increase by 15.3% CAGR by 2032

- In its latest report, Fact.MR presents an elaborate analysis of various factors influencing the carbon fiber resin market, including drivers, opportunities, restraints, and trends. It further delves deeper, making observations into key expansion parameters for market players, prevailing across key segments in terms of products and regions.

NEW YORK, May 11, 2022 /PRNewswire/ -- With sales expected to grow at a healthy figure of 15.3% CAGR, the carbon fiber resin market value will reach US$ 2,377 Mn over the forecast period (2022-2032).

Carbon resin fiber found its glory due to the first Boeing 787 flight that was installed with 50% composites. It later went on to bring carbon fiber resin into rising focus and fetched its lasting successful run in the market.

Carbon fiber resin owes it surging application to its low strength to weight ratio over other composites. The lasting fame of carbon fiber resins is due to their flexibility and malleability that eliminates the use of X connectors. Thus it is averse to various raw materials being used and can be assembled in a jiffy.

Carbon fibers possess more stiffness and tensile strength than any other metal which contributes to lasting growth. They are 5X times stronger and 2X stiffer than steel while comprising a weight that is one-fourth of steel. Carbon fibers hence portray an attractive market. With an opportunity worth US$ 1866 Mn speaking volumes in comparison to steel, titanium and iron.

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Carbon fiber resins include properties of high thermal and chemical resistance and low thermal expansion. Low weight being their exclusive trait, carbon fibers find extensive application in aerospace and competitive auto sports where each gram makes a difference.

Its natural aversion to chemicals makes carbon fiber resins an ideal fit for gas storage and fuel cells. Its diverse use include windmill blades, pipes and deep water drilling rigs. The diverse applications of carbon fiber resin are contributing towards its soaring popularity. Considering this, the market value is expected to top US$ 2377 Mn by 2032.

Key Takeaways:

• North America dominates the market, contributing 31.5% of global sales in 2022.
• Canada carbon fiber resin market is expected to register fast-track growth.
• China is expected to dominate the APAC market, accounting for 2/5^th of the sales owing to being authority leading hub for automobile parts manufacturing.
• India is a fast-growing economy riding high on the economic growth and is expected to spur sales within the carbon fiber resin market.
• The US, China and Germany account for more than 45% of the global market.
• The aerospace and defense industries and surging energy demand will drive carbon fiber resins market. Application in manufacturing wind-mill blades also will create high growth prospects.

Growth Drivers:

• Low-weight structure of carbon fibers has driven scope for carbon fiber resins applications in diverse manufacturing activities, from bicycles to aircraft assemblies.

Restraints:

• Thermosetting resins are preferred over the thermoplastic variety owing to its excellent resistance to solvents and high temperature resistance.
• Thermoplastic resins are also negatively impacted because they hinder the formation of composites.

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Competitive Landscape:

The global carbon fiber resin market is highly competitive and fragmented in nature with the presence of several leading players. Majority of these players are collaborating with end users to generate more sales and are also focusing on new launches to gain competitive edge.

For instance,

• In July 2021, Toray Composite Materials America Inc., a global leader and innovator of carbon fiber materials unveiled its newest launch of Toray 2700. This is an epoxy-based 2700 high-performance and patented resin technology, designed especially for aerospace programs.
• In September 2020, Nissan announced the innovation for mass production of carbon fiber parts and for compression resin transfer molding to accurately follow the manufacturing process and have shorter development process.

Key Companies Profiled by Fact.MR

• ESE Industries
• Huntsman Corporation
• Alpha Owens-Corning
• Hexion Inc.
• Ashland Inc.
• BASF SE
• 3M
• Kukdo Chemical Co. Ltd.
• Olin Corporation
• Aliancys
• Polynt S.p.A

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More Valuable Insights on Carbon Fiber Resin Market

In the latest study, Fact.MR reveals key factors expected to boost the growth in global carbon fiber resin market during the forecast period (2022-2032). The survey also provides an in-depth analysis of opportunities and drivers projected to propel sales of carbon fiber resins through detailed segmentation as follows:

• Resin Type:
• Thermoset
• Thermoplastic
• Form:
• Prepreg
• Non-Prepreg
• End-Use Industry:
• Aeropspace & Defence
• Automotive OEM
• Wind Energy
• Sporting Goods
• Other Industries
• Region:
• North America
• Latin America
• Europe
• APAC
• MEA

Key Questions Covered in the Carbon Fiber Resin Market Report

• What is the global carbon fiber resin market scenario?
• How far is the global demand expected to reach over the forecast period?
• Who are the dominant players in the global carbon fiber resin market?
• Which is the most leading region in the carbon fiber resin market?

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About Fact.MR

Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, chemical, and materials, to even the most niche categories. 80% of Fortune 1000's trusts us in critical decision making.

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