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Carbon Fibre Composites Market Size By End-Use (Aerospace, Automotive, Wind Turbines, Sport & Leisure, Civil Engineering, Marine), By Matrix Material (Polymer [Thermosetting, Thermoplastics], Carbon, Ceramic, Metal, Hybrid), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

  • Report ID: GMI2180
  • Base Year: 2016
  • Report Format: PDF

Industry Trends

Carbon Fibre Composites Market size was worth over $16 billion in 2016 and its demand is projected to cross 290 kilo tons in 2024. Increasing adoption in aerospace and automotive sectors will primarily drive the industry from 2017 to 2024.

Carbon Fibre Composites Market Statistics

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The proliferating demand from developed regions including Europe and North America will escalate the overall revenue generation. This can be credited to rising need of immediate supply of carbon fibre, the U.S. export controls have resulted in considerable vertical integration across the globe, fostering the carbon fibre composites market till 2024.

Regular innovations have led to reduction in process and cycle time that has resulted in significant fall of overall processing cost. Increasing demand for lightweight and high-performance composites owing to stringent regulations and safety concerns will lead to huge growth potential for carbon fibre composites market share over the next eight years. These products offer enhanced stability at extreme temperatures and durability that will further impact the industry growth positively. However, fluctuations in prices of raw materials may hamper the product demand.

Increasing usage in aerospace industry for interior & exterior aircraft structures owing to their high-end performance and superior strength will increase product demand. Compliance with the mandatory environmental standards is another factor positively influencing the overall carbon fiber composites market from 2017 to 2024.

Market, By End-Use

Aerospace industry segment is expected to account for largest share crossing USD 19 billion till 2024. Growth in military and commercial aerospace sector will primarily drive the carbon fibre composites market segment. High carbon fibre demand from commercial aircrafts can be attributed to increased flight affordability, which has led to growth in air passenger traffic worldwide. This rise in passenger traffic will further support the segment dominance over the next eight years.

Carbon Fibre Composites Market by End-Use

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Automotive captured significant share of over 20% and demand of over 25 kilo tons in 2016. Their usage in automobile industry mainly attributes to its reduced price due to efficient production of their matrix materials. Owing to the price reduction, it can also be used in middle class cars over the coming years. Hybrid sports cars are indulging in adoption of carbon composites in their i-projects. Approximately 24,000 i3s and 5,500 i8s were sold in 2015, further contributing to the carbon fibre composites market growth significantly.

Market, By Matrix Material

Polymer is anticipated to dominate the carbon fibre composites market over the forecast timeframe. The high revenue generation can be attributed to rising demand of thermoplastics and thermosetting materials. Thermoplastic materials demand is increasing due to its benefits of shorter processing time, high damage tolerance & resistance to impacts, and easy recyclability. Thermosetting materials are resistant to impacts and corrosion. Further, they possess the benefits such as excellent adhesion & finishing along with high fatigue strength.

Ceramic matrix materials are poised to exhibit over 12% CAGR from 2017 to 2024. High acceptance from construction industry will drive the carbon fiber composites market. Its preference over the counterparts can be attributed to the advantages such as hardness, enhanced frictional behavior, and excellent wear resistance.

Market, By Region

North America is anticipated to continue its dominance till 2024. Established aerospace industry has led to increased aircraft deliveries across the region, fostering the carbon fiber composites market growth. Presence of established aerospace industry leaders in the U.S. will further support the region’s dominance. With continuous R&D activities in aerospace & defense sector in the U.S., the industry demand is expected to showcase tremendous increase over the coming years.

Europe will capture a significant share owing to large number of military aircraft manufacturing units in the region. Moreover, presence of high-end automobile industries in Italy and Germany will further strengthen the product penetration.

Asia Pacific is set to grow at over 12% over the forecast timeline. Substantial development in automotive industry across the region coupled with high investments in aviation industry will propel the region’s growth. For instance, Indian military aviation sector is projected to invest around USD 35 billion over the next two decades. These investments will provide high growth prospects to the carbon fibre composites market till 2024.

Competitive Market Share

Toray+Zoltek, SGL, Toho, MRC, Rock West Composites, and Hexcel are among the prominent players in the carbon fiber composites industry. Other notable players include Solvay, Zhongu-Shenying, Aksa, Hengshen Fib. Mat., Hyongsung, and Sonstige. The industry participants focus on extensive R&D activities and geographic expansion to enhance their product line. For instance, in September 2017, Hexcel launched a multi-axial infused materials (MAXIM) R&D project worth USD 10 million for producing solutions for large aerospace and automotive composite structures. The company also expanded its manufacturing unit in Leicester, UK.

In October 2017, Rock West Composites announced a considerable expansion of its carbon fibre tubing stock for high-performance bicycle frame application. Carbon composites are highly used in bicycle industry owing to their ability of accommodating numerous design specifications and high weight to strength properties. This strategy helped the company to gain a competitive edge.

Industry Background 

Carbon composites find their applications in various industries including aerospace, automotive, wind turbines, sports & leisure, and few others. Rising need of overall weight reduction is a major factor driving the carbon fibre composites market. They are durable in terms of operational hours and do not experience impacts of rusting. Moreover, these composites possess outstanding resistance to high temperatures.

Industry players focus on providing cost effective solutions to their customers for strengthening their foothold. For instance, in October 2017, Zoltek declared that automotive composites are expected to become affordable and possess immense growth potential over the coming years.

Carbon Fiber Composites market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons and revenue in USD million from 2013 to 2024, for the following segments:

By End-Use

  • Aerospace
  • Automotive
  • Wind Turbines
  • Sport & Leisure
  • Civil Engineering
  • Marine
  • Others

By Matrix Material

  • Polymer
    • Thermosetting
    • Thermoplastics
  • Carbon
  • Ceramics
  • Metal
  • Hybrid

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Poland
    • Spain
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Taiwan
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa


Authors: Kiran Pulidindi, Sayan Mukherjee

Frequently Asked Questions (FAQ) :

The carbon fibre composites market in 2016 exhibited a revenue of 16 Billion (USD).

The valuation of carbon fibre composites market in the year 2016 was 16 Billion (USD).

According to the report published by Global Market Insights Inc., the carbon fibre composites business is supposed to attain $31 billion by 2024.

Toray+Zoltek, SGL, Toho, MRC, Rock West Composites, Hexcel, Solvay, Zhongfu-Shenying, Aksa, Hengshen, Sonstige are some of the top contributors in the industry.

The aerospace & defence industry segment registered a major market share in 2016 and is projected to record a remarkable growth rate throughout the forecast period.

The North America region will dominate the revenue and is set to achieve over 35% CAGR up to 2025, owing to strong presence of major aerospace manufacturers in the region.

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Premium Report Details

  • Published Date: Oct 2017
  • Companies covered: 11
  • Tables & Figures: 452
  • Countries covered: 21
  • Pages: 300

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