Carbon Composites Market
|出版日期||內容資訊||英文 144 Pages
|碳複合材料市場 Carbon Composites Market|
|出版日期: 2020年11月18日||內容資訊: 英文 144 Pages||
Carbon Composites Market size is forecast to reach $8.79 billion by 2025, after growing at a CAGR of 11.0% during 2020-2025. Carbon composites consist of carbon fibers embedded in a carbonaceous matrix. Carbon Carbon Composites are those special composites in which both the reinforcing fibers and the matrix material are both pure carbon. The carbon composites have a higher stiffness-to-weight ratio rather than other conventional materials due to which they are widely used in various applications of aerospace & defense.
Europe dominates the carbon composites market owing to increasing demand from applications such as automotive and aerospace & defense industries.
Increasing usage of carbon composites in aircraft, coupled with the increasing number of aircraft launched in the market, annually, is expected to provide a huge growth opportunity for the carbon composites market in the aerospace industry in the forecast period.
Applications of carbon composites in wind energy sector is likely to become an opportunity in the future.
By Matrix - Segment Analysis
Carbon segment held a significant share in the carbon composites market in 2019. When carbon composites are designed and fabricated with accuracy, they last very long even in adverse operating conditions. The strength of carbon with unidirectional reinforcement fibers is approximately 700MPa. They retain their properties at very high temperatures like above 2000°C. Usage of these composites reduces the overall weight of the body, up to 20%-30%. The carbon fibers are widely used for numerous aerospace and defense applications as they provide endurance, strength, and stability as required due to which the market is expected to grow during the forecast period.
By Process - Segment Analysis
Pultrusion and winding segment held a significant share in the carbon composites market in 2019. Composite fiber winding is a process which is used to fabricate cylindrical objects such as golf clubs, pressure vessels, underground storage tanks, and pipes.
Pultrusion uses similar continuous fiber and resin feeding but instead of fibers being wetted then wound on a mandrel, the fibers are pulled straight through a forming die to make continuous composite products. Typical products produced in this manner are I-beams, rods, window frames, and leaf springs.
Application - Segment Analysis
Aerospace & defense sector held a largest share in the composites market in 2019 and is expected to grow at a CAGR of 11.23% during the forecast period. Conventional metal structures are increasingly being replaced by carbon composites in aircraft, due to their light yet stiff design structure. From the interior of an airplane or a jet to the rotor blades of a helicopter, composite materials are emerging as an integral part of the aerospace industry due to which the carbon composites market is expected to grow during the forecast period. In the defense industry, the use of carbon composites is present in ground defense, missile defense, and military marine. Moreover, the vinyl material in the carbon fiber wraps actually acts as a protection layer over the existing piece in the automotive industry. Carbon Fiber sheets are used for making handmade knives with a sharp edge and are also used in the automotive applications.
Geography- Segment Analysis
Europe dominated the carbon composites market with a share of more than 41%, followed by North America and Asia Pacific in 2019. Germany leads the European automotive market, with 41 assembly and engine production plants, which contribute to one-third of the total automobile production in Europe. The aerospace industry of Germany consists of more than 2,300 firms located all around the country, with northern Germany being the area with a higher concentration of firms. Germany is one of the leading manufacturing bases for the aircraft industry and is home to manufacturers from different segments, such as material and component suppliers, equipment manufacturers, engine producers, and whole system integrators. Due to growing automotive and aerospace industries in this region, the carbon composites market is expected to grow during the forecast period.
Drivers - Carbon Composites Market
Increasing applications of carbon composites in aircrafts
Boeing and Airbus have a projected demand for nearly 9,000 new wide-bodied aircraft over the next 20 years. Single-aisle aircrafts are expected to fulfill around 70% of the future commercial aircraft demand. With the retirement of A30 aircraft production, all the players in the entire aerospace production value chain are looking for the future.
Currently, only Boeing 787, 777X, and Airbus A350 are in production that is using carbon composite. New demand for carbon composites is expected to come from the next-generation single-aisle aircraft. The new midsize airplane - NMA, or, 797) - a single-aisle, mid-range plane designed by Boeing is expected to replace the company's retired Boeing 757 aircraft. This aircraft is also expected to have AFP-made, autoclave-cured wings and fuselage structures.
Challenges - Carbon Composites Market
High cost of carbon fiber
In the automotive industry, carbon fiber is currently used only in racing cars and some high-end sports car as the cost of carbon fiber at present is about USD 8 to USD 15/lb. If the cost of carbon fiber decreases to about USD 5 to USD7/lb., it will be used on a much larger scale in automobiles.
Usage of carbon fiber composite structural parts is expected to increase to a great extent, provided the cost is reduced. The price for aerospace grade carbon fiber currently ranges from USD 30 to USD 80/lb.In other applications such as industrial, sporting goods, and wind energy, the price ranges from USD 10 to USD 20/lb. There are many new applications of carbon fiber based composite which are not yet commercially feasible as they are expensive.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the carbon composites market. Major players in the carbon composites market are Toray Industries Inc., SGL Group, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., Teijin Limited, Formosa Plastics Corporation, Solvay, Jiangsu Hengshen Co. Ltd., Hyosung and DowAksa among others.
In January 2019, Teijin entered into an agreement with Bombardier Aerostructures and Engineering Services for the supply of its TENAX carbon fiber material. This helped the company in its medium-term growth in the aircraft business.
In October 2018, Hexcel Corporation opened its new advanced composites plant at the Les Roches-Roussillon Chemicals Industry Platform in France. This plant will help in responding to the needs of aerospace customers for carbon composite materials.
Financials would be provided on a best efforts basis for private companies