Europe Carbon Fiber Market - Segmented by Raw Material Type, by Type, by Application, by End-User Industry, and Geography - Growth, Trends, and Forecasts (2018 - 2023)
The Europe carbon fiber market is expected to witness a moderate growth during the forecast period, 2018-2023. The market is driven by a number of factors, such as the increasing application of carbon fibers in the wind energy sector, growing emphasis on lignin as raw material for carbon fibers, and growing popularity of recycled carbon fiber is expected to offer numerous opportunities, during the forecast period.
Increasing Demand of Fuel Efficient and Light-weight Vehicles
Carbon fiber owing to properties such as corrosion resistance, high strength to eight ratio, high workability etc. is used in automotive industry. There is demand for system and body parts that are durable, offer better performance and be lightweight. In a typical automobile, the use of fibers is 50% by volume while adding just 10% of weight. In addition to this, carbon fiber is prominent material that has changed the viewpoint from which fibers are used. For racing cars, luxury vehicles, military transport vehicles, etc. the requirement for high strength, crash resistant, and low weight because of the carbon fiber. Therefore, the increasing demand of lightweight and fuel-efficient vehicles will drive the carbon fiber market in Europe during the forecast period.
Growing Demand in Aerospace & Defense sector
Aerospace and defense is expected to account the largest share of the market for carbon fiber based on applications. The carbon fibers are perfect choice for numerous aerospace and defense applications as they provide strength, endurance, and stability as required. Conventional metal structures are increasingly being replaced by carbon fiber-reinforced plastics (CFRP) in the aircrafts due to their light yet stiff design structures. 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. In the defense industry, the use of carbon fiber-reinforced plastics (CFRP) is present in missile defense, ground defense, and in military marine.
Germany to Dominate the Market
Germany is expected to lead the Europe’s automotive market with more than 40 assembly and engine production plants that contribute to one third of the total automobile production in Europe. The use of reinforced carbon fiber has rapidly increased in automobile production for better results. The use of carbon fiber goes hand in hand with the automobile production and the increase in production shows there will be an automatic increase in usage of carbon fibers in the country. Additionally, the German aerospace industry is growing at a higher rate. With carbon fiber rapidly substituting the usage of aluminum in construction of aviation systems the development in aerospace field with certainly act as a boost to sales of carbon fiber in the market during the forecast period.
Major Players: Cytec Industries, Toho Tenax, Hexcel Corporation, Toray Industries, Inc., and SGL Carbon, among others.
Notable Developments in the Market
October, 2017: Hexcel Corporation completed the acquisition of Structil SA, a French manufacturer and supplier of high-performance composites to the aerospace, defense and industrial markets
December, 2017: Hexcel acquired the Oxford Performance Material’s Aerospace & Defense Business
Reason to purchase this Report
Analyze various perspectives of the market with the help of Porter’s five forces analysis
Application and end-user that industry are expected to dominate the market
Country that is expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.