Market Forecast by Countries (Germany, United Kingdom, France, Italy, Russia, Spain, Rest of Europe), 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: ETC4611373 | Publication Date: Jul 2023 | Updated Date: Oct 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 300 | |
Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Highlights
Report Name | Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market |
Forecast Period | 2024-2030 |
Market Size | USD 1.27 Billion - 2.31 Billion |
CAGR | 8.4% |
Growing Sector | Aerospace Sector |
Europe 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, By Manufacturing Process. The market 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.
Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market was valued at USD 1.27 billion and is projected to reach USD 2.31 billion by 2027, growing at a CAGR of 8.4% during the forecast period. Germany is expected to dominate the market due to its strong presence in industries such as automotive, aerospace, and wind energy. However, other countries in Europe such as France, Italy, and the UK are also showing significant growth in this market.
Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market is projected to grow during the forecast period. Carbon fiber is a strong and lightweight material made from carbon atoms bonded together in a crystalline arrangement. It has several advantageous properties like high strength-to-weight ratio, corrosion resistance, and thermal conductivity. Carbon fiber reinforced plastic (CFRP) is a composite material made by embedding carbon fiber strands into a polymer matrix, resulting in a material that is even stronger and lighter than carbon fiber alone.
According to 6Wresearch, the Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Size is expected to reach at a significant CAGR of 8.4% during the forecast period 2024-2030. Several factors are driving the Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market growth. One of the major drivers of this market is the increasing demand for lightweight materials in various industries. With stringent government regulations regarding fuel efficiency and emissions, industries are shifting towards lightweight materials like carbon fiber and CFRP to reduce overall weight and increase efficiency. Additionally, these materials also offer better performance in terms of strength and durability.
Despite the rapid growth of the Europe carbon fiber and carbon fiber reinforced plastic market, there are still some challenges that need to be addressed. One of the major challenges is the high cost associated with these materials, which limits their widespread adoption in certain industries. Additionally, the lack of standardization in production processes and difficulty in recycling carbon fiber composites are also hindering the market growth.
One of the main trends driving the Europe carbon fiber and CFRP market is the increasing demand from the automotive industry. As governments around Europe are implementing stricter emission regulations to reduce carbon emissions from vehicles, automakers are turning to carbon fiber composites as a viable solution. CFRP components can significantly reduce a vehicle's weight, resulting in improved fuel efficiency and reduced emissions.
Another key trend in the Europe market is the growing use of carbon fiber in the construction industry. The material's strength and durability make it a preferred choice for building structures, such as bridges, towers, and high-rise buildings. Additionally, CFRP can also be used to reinforce existing structures, extending their lifespan, and reducing maintenance costs.
One such investment opportunity is in the development of new production techniques for carbon fibers that can reduce their overall cost. Currently, the most commonly used production technique for carbon fibers is the polyacrylonitrile (PAN) method. This process involves several costly and time-consuming steps, making carbon fiber an expensive material. Research is being conducted to develop new production techniques such as the lignin-based process, which uses a bio-based source instead of PAN. This could significantly reduce the cost of carbon fibers and open up opportunities for investment in this area.
Several leading players dominate the Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market share, some of the major players operating in the Europe carbon fiber and carbon fiber reinforced plastic market include Hexcel Corporation, SGL Carbon SE, Teijin Limited, Toray Industries Inc., and Mitsubishi Chemical Corporation. These companies are focusing on expanding their production capacity to meet the growing demand for carbon fiber and its composites in various industries.
Governments across Europe have implemented strict regulations to reduce carbon emissions and promote sustainable practices. These regulations have also played a significant role in driving the demand for lightweight materials like carbon fiber and CFRP. For instance, European Union's emission standards for vehicles have led to an increased use of lightweight materials in the automotive industry.
The future outlook for the Europe carbon fiber and carbon fiber reinforced plastic market looks promising. With continuous research and development efforts, there have been advancements in manufacturing processes that could potentially reduce the cost of production. This is expected to drive the adoption of these materials in various industries, further boosting the market growth. Moreover, with increasing focus on reducing carbon emissions and promoting sustainable practices, there will be a growing demand for lightweight and eco-friendly materials like carbon fiber and its composites. This is likely to create new opportunities for players operating in this market.
The report offers a comprehensive study of the subsequent market segments and their leading categories.
Germany is one of the leading countries in terms of investments in research and development of advanced materials. The country also has a strong presence in the automotive industry, which is a major user of CFRP components. With increasing regulations on CO2 emissions, there is a growing demand for lightweight materials like carbon fiber in Germany.
According to Nitesh Kumar, Research Manager, 6Wresearch, Virgin carbon fiber is derived from raw materials such as polyacrylonitrile (PAN), pitch, or rayon. It offers high strength-to-weight ratio, stiffness, and corrosion resistance, making it an ideal choice for various industrial applications. In addition to its mechanical properties, virgin carbon fiber also has excellent thermal and electrical conductivity.
PAN is the most widely used precursor in the Europe carbon fiber and carbon fiber reinforced plastic market. This is primarily due to its superior properties such as high strength, stiffness, and lightweight nature. PAN-based fibers account for a significant share of the overall European carbon fiber production.
According to recent market research, the thermosetting resin segment is expected to witness significant growth in demand in the Europe carbon fiber and carbon fiber reinforced plastic market. This can be attributed to its superior properties such as high strength, stiffness, and dimensional stability.
One end-use industry that is experiencing a high demand for carbon fiber and carbon fiber reinforced plastic in Europe is the aerospace and defense sector. With the increasing need for lightweight materials to improve fuel efficiency and reduce emissions, carbon fiber is being increasingly used in aircraft manufacturing.
Filament winding is a manufacturing process where continuous fibers, such as carbon fiber, are wound in a specific pattern onto a rotating mandrel. The fibers are impregnated with resin and cured to form a solid composite structure.
The market report has been segmented and sub segmented into the following categories:
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 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Overview |
3.1 Europe Regional Macro Economic Indicators |
3.2 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume, 2020 & 2030F |
3.3 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Industry Life Cycle |
3.4 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Porter's Five Forces |
3.5 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Countries, 2020 & 2030F |
3.6 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Source, 2020 & 2030F |
3.7 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Precursor, 2020 & 2030F |
3.8 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Resin, 2020 & 2030F |
3.9 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By End-use Industry, 2020 & 2030F |
3.10 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenues & Volume Share, By Manufacturing Process, 2020 & 2030F |
4 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Trends |
6 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
6.1 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
6.2 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
6.3 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
6.4 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
6.5 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
7 Germany Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
7.1 Germany Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
7.2 Germany Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
7.3 Germany Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
7.4 Germany Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
7.5 Germany Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
8 United Kingdom Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
8.1 United Kingdom Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
8.2 United Kingdom Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
8.3 United Kingdom Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
8.4 United Kingdom Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
8.5 United Kingdom Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
9 France Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
9.1 France Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
9.2 France Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
9.3 France Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
9.4 France Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
9.5 France Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
10 Italy Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
10.1 Italy Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
10.2 Italy Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
10.3 Italy Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
10.4 Italy Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
10.5 Italy Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
11 Russia Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
11.1 Russia Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
11.2 Russia Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
11.3 Russia Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
11.4 Russia Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
11.5 Russia Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
12 Spain Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
12.1 Spain Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
12.2 Spain Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
12.3 Spain Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
12.4 Spain Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
12.5 Spain Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
13 Rest of Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, 2020 - 2030 |
13.1 Rest of Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Source, 2020 - 2030 |
13.2 Rest of Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Precursor, 2020 - 2030 |
13.3 Rest of Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Resin, 2020 - 2030 |
13.4 Rest of Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By End-use Industry, 2020 - 2030 |
13.5 Rest of Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market, Revenues & Volume, By Manufacturing Process, 2020 - 2030 |
14 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Key Performance Indicators |
15 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Opportunity Assessment |
15.1 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Countries, 2020 & 2030F |
15.2 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Source, 2020 & 2030F |
15.3 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Precursor, 2020 & 2030F |
15.4 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Resin, 2020 & 2030F |
15.5 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By End-use Industry, 2020 & 2030F |
15.6 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Opportunity Assessment, By Manufacturing Process, 2020 & 2030F |
16 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market - Competitive Landscape |
16.1 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Revenue Share, By Companies, 2023 |
16.2 Europe Carbon Fiber and Carbon Fiber Reinforced Plastic Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Company Profiles |
18 Recommendations |
19 Disclaimer |