Carbon Fibre Composites Market Analysis

Carbon Fibre Composites Market Analysis

The aerospace & defense segment is estimated to hold over 60% revenue share by 2030 owing to the prominent usage of these materials in aerospace components including airframe structure, floor panels, and landing gears. The carbon fibers including Carbon-fiber Reinforced Plastic (CFRP) offer aircraft manufacturers to enhance fatigue and corrosion resistance characteristics of aircraft parts.
 

According to Airbus, CFRP components provide cost-effective benefits to airline operators in terms of maintenance. An A350 XWB requires 50% lower structure maintenance task with threshold for airframe checks of around 12 years compared to eight years for the A380. Additionally, industry participants are developing a new material technology that enhances the chemical and mechanical properties of materials.
 

For instance, in March 2019, Hexcel showcased several composite innovations in JEC World 2019 for aerospace and automotive applications including HexTow HM50. The material offers high modulus and tensile strength for commercial and defense aircraft engines.
 

Polymer materials segment is estimated to generate around USD 20 billion by 2030 due to the development of several polymers coupled with the wide usage of these materials in aerospace and automotive industries. Thermosetting polymers will account for a considerable growth rate around 6% by 2030 owing to the high usage in major aerospace products and wide-ranging applications in the military sector. Moreover, improved adhesion and surface finishing provided will also escalate the segment share.
 

North America carbon fiber composites market to generate a demand of over 55 kilo tons by 2030 due to the high concentration of aircraft manufacturers along with rising incorporation of composites in aircraft. The rising aircraft demand across the globe owing to the increasing air passenger traffic coupled with the expansion of new air travel routes is boosting the regional share. Aircraft manufacturers along with industry players are investing in R&D to develop advanced materials that enhance the operational capabilities of aircraft. Additionally, industry participants are strengthening their distribution channels in the region with the addition of new distributors.