Market Forecast by Countries (South Africa, Nigeria, Kenya, Rest of Africa), By Source (Virgin, Recycled), By Precursor (PAN, Pitch, Rayon), By Resin (Thermosetting, Thermoplastic), By End-use Industry (Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, Civil Engineering, Pipe & Tank, Marine), By Manufacturing Process (Lay-up, Resin Transfer Molding, Filament Winding, Compression Molding, Injection Molding, Pultrusion, Others) And Competitive Landscape
Product Code: ETC4603911 | Publication Date: Jul 2023 | Updated Date: Apr 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
Report Name | Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market |
Forecast period | 2024-2030 |
CAGR | 8.8% |
Growing Sector | Aerospace and Defense |
Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market report thoroughly covers the market By Countries, By Source, By Precursor, By Resin, By End-use Industry, and By Manufacturing Process. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market is witnessing burgeoning growth, driven by a surge in demand across various industries. These materials are acclaimed for their outstanding strength-to-weight ratio, durability, and resistance to corrosion, making them pivotal in manufacturing lightweight and energy-efficient components. The expansion of industrial sectors in African countries, along with growing environmental awareness and the push for sustainable materials, further propels the market forward.
According to 6Wresearch, the Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market size is anticipated to grow, reaching at a CAGR of 8.8% during the forecast period of 2024-2030. This upward trajectory is expected to spur due to increasing demand across various sectors including automotive, aerospace, and construction. The intrinsic properties of carbon fiber, such as high stiffness, high tensile strength, low weight, high temperature tolerance, and low thermal expansion, make it an ideal material for abundant applications. The automotive sector is experiencing a surge in demand for carbon fiber as manufacturers seek to reduce vehicle weight and improve fuel efficiency. Moreover, aerospace applications benefit from the material's strength and lightweight nature, contributing to enhanced performance. The construction sector is also distinguishing the benefits of carbon fiber in reinforcing and rehabilitating aging infrastructure, presenting significant opportunities for Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market Growth. Despite these opportunities, challenges such as high production costs and inadequate awareness about the benefits of carbon fiber in certain applications are expected to restrain market growth. However, ongoing research and technological advancements are projected to lower costs and widen the application range, further propelling the Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Industry.
In recent years, the governments have recognized the significant potential of the market to drive sustainable development and technological advancement. Initiatives and policies focusing on boosting local manufacturing capabilities, encouraging investment in research and development, and implementing environmentally friendly practices have been pivotal. Key among these policies is the introduction of tax incentives for companies investing in carbon fiber technology, alongside grants and subsidies for research institutions focusing on the development of innovative CFRP applications. Additionally, governments have also invested in infrastructure such as specialized industrial zones and technology parks to support the growth of the carbon fiber industry. One notable example of a government scheme aimed at promoting carbon fiber usage is the "Made in Africa" initiative launched by the African Union.
The Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Industry is characterized by a dynamic and diverse group of key players, ranging from startups to established multinational corporations. Companies such as Carbon Innovations Africa Ltd and Fiber Composite Solutions SA are at the forefront, leading the way in production and innovation. Other significant players in the market include South Africa-based Umvoto Africa (Pty) Ltd, which specializes in geospatial solutions using CFRP technology for infrastructure projects.
The future of the Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market holds immense potential, with projected growth driven by increasing demand in sectors such as automotive, renewable energy, and infrastructure development. The focus on sustainability and the commitment to reducing carbon emissions further enhance the prospects of carbon fiber technologies. Innovations in recycling processes and the development of more cost-effective production methods are expected to significantly reduce costs, making carbon fiber and carbon fiber reinforced plastic materials more accessible and fostering broader adoption across various industries.
According to Shubham, Senior Research Analyst, 6Wresearch, the Aerospace & Defense sector is growing at significant rate as the industry's relentless pursuit of weight reduction to enhance fuel efficiency and performance directly aligns with the strengths of carbon fiber and CFRP materials.
By Manufacturing Process, Resin Transfer Molding (RTM) has been dominating the Africa Carbon Fiber And Carbon Fiber Reinforced Plastic Market Share due to its ability to manufacture complex shapes and large parts with high strength-to-weight ratios.
The report offers a comprehensive study of the subsequent market segments:
By End-Use Industry
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Overview |
3.1 Africa Regional Macro Economic Indicators |
3.2 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume, 2020 & 2030F |
3.3 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Industry Life Cycle |
3.4 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Porter's Five Forces |
3.5 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Source, 2020 & 2030F |
3.7 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Precursor, 2020 & 2030F |
3.8 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Resin, 2020 & 2030F |
3.9 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By End-use Industry, 2020 & 2030F |
3.10 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Manufacturing Process, 2020 & 2030F |
4 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Trends |
6 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
6.1 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
6.2 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
6.3 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
6.4 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
6.5 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
7 South Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
7.1 South Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
7.2 South Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
7.3 South Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
7.4 South Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
7.5 South Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
8 Nigeria Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
8.1 Nigeria Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
8.2 Nigeria Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
8.3 Nigeria Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
8.4 Nigeria Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
8.5 Nigeria Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
9 Kenya Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
9.1 Kenya Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
9.2 Kenya Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
9.3 Kenya Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
9.4 Kenya Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
9.5 Kenya Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
10 Rest of Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
10.1 Rest of Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
10.2 Rest of Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
10.3 Rest of Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
10.4 Rest of Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
10.5 Rest of Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
11 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Key Performance Indicators |
12 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Opportunity Assessment |
12.1 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Countries, 2020 & 2030F |
12.2 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Source, 2020 & 2030F |
12.3 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Precursor, 2020 & 2030F |
12.4 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Resin, 2020 & 2030F |
12.5 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By End-use Industry, 2020 & 2030F |
12.6 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Manufacturing Process, 2020 & 2030F |
13 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Competitive Landscape |
13.1 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenue Share, By Companies, 2023 |
13.2 Africa Carbon Fiber and Carbon Fiber Reinforced Plastic Market Competitive Benchmarking, By Operating and Technical Parameters |
14 Company Profiles |
15 Recommendations |
16 Disclaimer |