Published on : Apr 22, 2021
Albany, New York, April 22, 2021 : The demand for carbon fiber may increase at a rapid rate across the forecast period due to the versatile use of carbon fibers across various end users such as industrial materials, aerospace, sports, leisure, automotive, alternative energy, construction, and infrastructure. Properties of carbon fibers such as endurance, stability, and strength make them an ideal choice for numerous applications. This aspect may prove to be beneficial for the growth of the carbon fiber market. The replacement of metal structures by carbon-fiber-reinforced plastics due to its lightweight and strong structure may further propel the carbon fiber market. The report titled ‘Global Carbon Fiber Market Insights, Forecast To 2026’ covers all aspects of the sector and also highlights the impact of COVID-19 pandemic on the carbon fiber market.
Fast depleting renewable sources is prompting the shift to alternative energy sources. Thus, the increasing application of carbon fibers across the alternative energy segment supports the growth rate to a great extent.
The report offers in-depth analysis through considerable research across various parameters such as competitive landscape, key trends, and current scenario. The report also focuses on the ongoing COVID-19 pandemic and its effect on the carbon fiber market. This report will prove as a boon for the business owners and market shareholders in this sector to a large extent.
Sustainability is playing an important role in boosting the growth prospects of the carbon fiber market. Manufacturers are partnering to develop sustainable carbon fiber materials. For instance, Cordenka and Stora Enso have entered in an agreement to develop bio-based carbon fiber. Stora Enso is developing the technology for manufacturing carbon fiber from raw materials created out of wood at the laboratory level. The partnership aims at developing sustainable carbon fiber for industrial applications such as alternative energy sectors.
The use of recyclable carbon fibers is also driving the carbon fiber market toward growth. Vartega, a Colorado-based company, has developed a patented process that recovers carbon fiber from pre-impregnated scrap. A typical prepreg contains about 65 percent carbon fiber and total recovery of the same is possible with the low-temperature dissolution process. This will eventually prove to be a growth generator for the carbon fiber market.
The aerospace and defense industry is more likely to support the increasing growth curve of the carbon fiber market. Vacuum consolidated and wet laminated carbon fiber structures meant to reduce the weight of the aircraft are making a mark. From the interior of an aircraft to the rotor blades of a helicopter, the use of carbon fiber-reinforced plastics (CFRP) is experiencing an upward trend.
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The automotive industry is also helping the carbon fiber market to grow at a rapid pace. SGL Carbon recently announced the production of carbon fiber battery housing cover for the BMW electric vehicles. Carbon fibers are ideal for achieving improved structural stiffness of the underbody. Hence, the carbon fiber market may gain substantially from the automotive industry.
On the regional front, North America expects to display a dominating streak as research and development activities in the aerospace and defense industry are being stressed upon. Therefore, this factor can prove to be a growth indicator for the carbon fiber market in North America. Europe is also eyeing substantial growth in the forecast period owing to large-scale automotive production combined with commercial as well as military aircraft production. Production of sports goods and equipment is also gaining traction across Europe, hence initiating stellar growth. Asia Pacific is also predicted to observe good growth as demand for lightweight equipment related to construction is rapidly increasing in Japan.