세계의 CF와 CFRP(탄소섬유와 탄소섬유 강화 플라스틱) 시장(2024-2031년)

Overview

Global CF & CFRP (Carbon Fibers And Carbon Fiber Reinforced Plastics) Market reached US$ 33.1 Billion in 2023 and is expected to reach US$ 84.9 Billion by 2031, growing with a CAGR of 12.5% during the forecast period 2024-2031.

The consumer electronics industry could potentially open up a major avenue of growth for the global market. In December 2023, the Chinese consumer electronic giant Lenovo announced that it was using recycled carbon fiber developed by Toray Industries Ltd, for fabricating the body of its popular ThinkPad series of laptops.

Overall recycling capacity hasn't grown much, even as demand for carbon fiber increases rapidly. As composites become more common in engineering applications, there is a glaring need to step up the usage of recycled and reclaimed composites. As long as the recycling capacity remains low, it will hamstring global market growth.

Dynamics

Increasing Adoption of Carbon Fiber in Aerospace Applications

Modern commercial airliners have substituted aluminum alloys for carbon fiber composites in their body structure. It helps in reducing weight and improving fuel efficiency. The new Airbus A350 and the Boeing 787 are the most prominent examples of this trend. Military aircraft are also making usage of composite materials since it improves the aircraft's stealth characteristics. The U.S.'s Lockheed Martin F-35, South Korea's KF-21 Boramae and Russia's Sukhoi Su-57 are some of the fifth generation stealth fighter jets which make use of composite materials.

Space launch vehicles are also utilizing carbon fiber composites for manufacturing payload fairings and fuel tanks. The Falcon 9 launch rocket of SpaceX makes extensive usage of carbon fiber composites for its propellant tanks and fairings. With private space companies becoming increasingly important players in the space launch industry, the demand for carbon fiber composites from the aerospace sector will continue to rise in the coming years.

Growth of Global Wind Energy Production

According to data from the international energy agency (IEA), global wind energy production increased by 14% in 2023 from the previous year to reach 906 GW. The global wind energy council (GWEC) further estimates that nearly 680 GW of new capacity will added over the next five years from 2023 to 2028. China is expected to account for nearly half of the total global wind energy capacity addition over this period.

Wind turbines are almost exclusively manufactured from carbon fiber composites in order to reduce overall weight and make transportation and installation relatively easier. Furthermore, composite usage ensures that there is no corrosion and that the wind turbine can remain operational throughout the seasons. The expansion of wind energy production will continue to generate significant demand during the forecast period.

Lack of Uniform Regulatory Standards

Since carbon fiber and its composites are relatively new materials, global regulatory guidelines and standards have not yet evolved in line with changing times. Unlike more mainstream materials like steel alloys, aluminum and titanium, there are currently no uniform international guidelines for material performance and standards. As a result, each manufacturer devises his own standards.

The lack of uniform standards handicaps global market growth by preventing interoperability, as each end-user needs to re-verify the specifications to ensure that there are within bounds. Not only is it more time-consuming, but also prevents the industries from utilizing carbon fiber composites, instead preferring the safety of standardized materials like metal alloys.

Segment Analysis

The global CF & CFRP market is segmented based on source, precursor, resin, modulus, manufacturing process, end-user and region.

Virgin Carbon Fiber Will Continue to Remain the Main Source for CFRP Production

Since the application of carbon fiber and its derivatives is increasing in various engineering industries, the demand for virgin carbon fiber has grown over the past decade. A key advantages of using virgin carbon fiber is that its production can be scaled up rapidly, allowing producers to respond quickly to changes in demand dynamics. Also, anew production methods have led to a reduction in carbon fiber prices.

Modern recycling technologies have ensured that nearly 90% of carbon fiber can be reused without compromising its mechanical properties. However, there isn't a lot of recycled carbon fiber that can be utilized for industrial applications. It will take another decade of sustained demand growth to see an appreciable increase in the usage of recycled carbon fiber.

Geographical Penetration

Asia-Pacific Will Have the Fastest Market Growth

China is currently in the midst of a decades-long plan to increase the share of renewables within its energy mix. It is partially linked towards reducing dependence on imported fossil fuels. Chinese OEMs accounted for nearly 85% of the global production of onshore wind turbines in 2023. India also increased its installed capacity by 53% in 2023 and is expected to follow China by having the second-highest total capacity in the region.

Apart from wind energy, the aerospace sector in Asia-Pacific has witnessed a boom in demand for carbon fiber composites. India is set to launch its first manned space mission, Gaganyaan in mid to late 2025. Similarly, China has committed towards launching a manned lunar mission by early 2031. The expansion of national space programs will create major growth opportunities for the market over the long term.

COVID-19 Impact Analysis

For manufacturers, the key challenge during the beginning of the pandemic was fulfilling existing orders, especially as lockdowns began to disrupt global trade. Research and development projects of the industry also began to suffer as most companies drastically slashed R&D budgets to stay afloat.

The pandemic period did lead to an overall decline in the market, however demand recovered strongly, especially in aerospace and electronics manufacturing industries. Companies are also devoting a large amount of capital towards accelerating high-value R&D. Overall, there will not be any negative implications in the long term for the global CF & CFRP market due to the pandemic.

Russia-Ukraine War Impact Analysis

The war has mostly impacted the markets for carbon fiber and its composites in Russia and Ukraine. Ukraine has experienced widespread devastation due to the war and hence, civilian demand for carbon fiber has been almost entirely wiped out. Currently, most demand is generated by Ukrainian military for air and naval drone manufacturing.

In Russia, the trade embargoes put in place by U.S. and EU have cutoff access to western-made carbon fiber supplies for domestic companies. To keep up defence production, many Russian companies are actively using shell corporations and routing shipping through third countries to source material from western companies. Furthermore, under a government directive, domestic producers have increased the production of carbon fiber reinforced composite materials.

By Source

• Virgin Carbon Fiber
• Recycled Carbon Fiber

By Precursor

• Polyacrylonitrile (PAN)
• Pitch
• Rayon
• Bio-Based
• Others

By Resin

• Thermosetting CFRP
• Thermoplastic CFRP

By Modulus

• Standard
• Intermediate
• High

By Manufacturing Process

• Lay-up
• Compression Molding
• Resin Transfer Molding
• Filament Winding
• Pultrusion
• Injection Molding
• Others

By End-User

• Aerospace & Defense
• Wind Energy
• Automotive & Transportation
• Sporting Goods
• Building & Construction
• Electrical & Electronics
• Marine
• Medical
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In February 2024, the National Renewable Energy Laboratory (NREL), a major U.S. research lab, announced the development of a new carbon fiber composite developed entirely from recycled carbon fiber.
• In April 2024, Feize Composites, a Chinese composite materials manufacturer, unveiled a medical bed board completely manufactured from carbon fiber reinforced composites.
• In April 2024, the Massachusetts Institute of Technology (MIT) announced the development of a new carbon fiber composite reinforced by 'nano stitching'. Such reinforcement would significantly improve the mechanical properties of the material and lead to its eventual adoption for high-performance aerospace applications.

Competitive Landscape

The major global players in the market include Toray Industries Ltd., Teijin Limited, Mitsubishi Chemical Corporation, Hexcel Corporation, Solvay SA, SGL Carbon, Kureha Corporation, Hyosung Advanced Materials, Jilin Chemical Fiber Co., Ltd. and Jiangsu Hengshen Co., Ltd.

Why Purchase the Report?

• To visualize the global CF & CFRP market segmentation based on source, precursor, resin, modulus, manufacturing process, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of CF & CFRP market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global CF & CFRP market report would provide approximately 86 tables, 93 figures and 210 Pages.

Target Audience 2024

• Aerospace Companies
• Renewable Energy Companies
• Electronics Manufacturers
• Industry Investors/Investment Bankers
• Research Professionals

Table of Contents

1.Methodology and Scope

• 1.1.Research Methodology
• 1.2.Research Objective and Scope of the Report

2.Definition and Overview

3.Executive Summary

• 3.1.Snippet by Source
• 3.2.Snippet by Precursor
• 3.3.Snippet by Resin
• 3.4.Snippet by Manufacturing Process
• 3.5.Snippet by End-User
• 3.6.Snippet by Region

4.Dynamics

• 4.1.Impacting Factors
  • 4.1.1.Drivers
    • 4.1.1.1.Increasing adoption of carbon fiber in aerospace applications
    • 4.1.1.2.Growth of global wind energy production
  • 4.1.2.Restraints
    • 4.1.2.1.Lack of uniform regulatory standards
  • 4.1.3.Opportunity
  • 4.1.4.Impact Analysis

5.Industry Analysis

• 5.1.Porter's Five Force Analysis
• 5.2.Supply Chain Analysis
• 5.3.Pricing Analysis
• 5.4.Regulatory Analysis
• 5.5.Russia-Ukraine War Impact Analysis
• 5.6.DMI Opinion

6.COVID-19 Analysis

• 6.1.Analysis of COVID-19
  • 6.1.1.Scenario Before COVID-19
  • 6.1.2.Scenario During COVID-19
  • 6.1.3.Scenario Post COVID-19
• 6.2.Pricing Dynamics Amid COVID-19
• 6.3.Demand-Supply Spectrum
• 6.4.Government Initiatives Related to the Market During Pandemic
• 6.5.Manufacturers Strategic Initiatives
• 6.6.Conclusion

7.By Source

• 7.1.Introduction
  • 7.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
  • 7.1.2.Market Attractiveness Index, By Source
• 7.2.Virgin Carbon Fiber*
  • 7.2.1.Introduction
  • 7.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 7.3.Recycled Carbon Fiber

8.By Precursor

• 8.1.Introduction
  • 8.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Precursor
  • 8.1.2.Market Attractiveness Index, By Precursor
• 8.2.Polyacrylonitrile (PAN)*
  • 8.2.1.Introduction
  • 8.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 8.3.Petroleum Pitch
• 8.4.Rayon
• 8.5.Bio-Based
• 8.6.Others

9.By Resin

• 9.1.Introduction
  • 9.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 9.1.2.Market Attractiveness Index, By Resin
• 9.2.Thermosetting CFRP*
  • 9.2.1.Introduction
  • 9.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 9.3.Thermoplastic CFRP
• 9.4.High Power

10.By Modulus

• 10.1.Introduction
  • 10.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 10.1.2.Market Attractiveness Index, By Resin
• 10.2.Standard*
  • 10.2.1.Introduction
  • 10.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 10.3.Intermediate
• 10.4.High

11.By Manufacturing Process

• 11.1.Introduction
  • 11.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 11.1.2.Market Attractiveness Index, By Manufacturing Process
• 11.2.Lay-up*
  • 11.2.1.Introduction
  • 11.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 11.3.Compression Molding
• 11.4.Resin Transfer Molding
• 11.5.Filament Winding
• 11.6.Pultrusion
• 11.7.Injection Molding
• 11.8.Others

12.By End-User

• 12.1.Introduction
  • 12.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 12.1.2.Market Attractiveness Index, By End-User
• 12.2.Aerospace & Defense*
  • 12.2.1.Introduction
  • 12.2.2.Market Size Analysis and Y-o-Y Growth Analysis (%)
• 12.3.Wind Energy
• 12.4.Automotive & Transportation
• 12.5.Sporting Goods
• 12.6.Building & Construction
• 12.7.Electrical & Electronics
• 12.8.Marine
• 12.9.Medical
• 12.10.Others

13.By Region

• 13.1.Introduction
  • 13.1.1.Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
  • 13.1.2.Market Attractiveness Index, By Region
• 13.2.North America
  • 13.2.1.Introduction
  • 13.2.2.Key Region-Specific Dynamics
  • 13.2.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
  • 13.2.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Precursor
  • 13.2.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 13.2.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Modulus
  • 13.2.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 13.2.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 13.2.9.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 13.2.9.1.U.S.
    • 13.2.9.2.Canada
    • 13.2.9.3.Mexico
• 13.3.Europe
  • 13.3.1.Introduction
  • 13.3.2.Key Region-Specific Dynamics
  • 13.3.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
  • 13.3.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Precursor
  • 13.3.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 13.3.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Modulus
  • 13.3.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 13.3.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 13.3.9.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 13.3.9.1.Germany
    • 13.3.9.2.UK
    • 13.3.9.3.France
    • 13.3.9.4.Italy
    • 13.3.9.5.Spain
    • 13.3.9.6.Rest of Europe
• 13.4.South America
  • 13.4.1.Introduction
  • 13.4.2.Key Region-Specific Dynamics
  • 13.4.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
  • 13.4.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Precursor
  • 13.4.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 13.4.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Modulus
  • 13.4.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 13.4.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 13.4.9.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 13.4.9.1.Brazil
    • 13.4.9.2.Argentina
    • 13.4.9.3.Rest of South America
• 13.5.Asia-Pacific
  • 13.5.1.Introduction
  • 13.5.2.Key Region-Specific Dynamics
  • 13.5.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
  • 13.5.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Precursor
  • 13.5.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 13.5.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Modulus
  • 13.5.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 13.5.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 13.5.9.Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
    • 13.5.9.1.China
    • 13.5.9.2.India
    • 13.5.9.3.Japan
    • 13.5.9.4.Australia
    • 13.5.9.5.Rest of Asia-Pacific
• 13.6.Middle East and Africa
  • 13.6.1.Introduction
  • 13.6.2.Key Region-Specific Dynamics
  • 13.6.3.Market Size Analysis and Y-o-Y Growth Analysis (%), By Source
  • 13.6.4.Market Size Analysis and Y-o-Y Growth Analysis (%), By Precursor
  • 13.6.5.Market Size Analysis and Y-o-Y Growth Analysis (%), By Resin
  • 13.6.6.Market Size Analysis and Y-o-Y Growth Analysis (%), By Modulus
  • 13.6.7.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 13.6.8.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
  • 13.6.9.Market Size Analysis and Y-o-Y Growth Analysis (%), By Manufacturing Process
  • 13.6.10.Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User

14.Competitive Landscape

• 14.1.Competitive Scenario
• 14.2.Market Positioning/Share Analysis
• 14.3.Mergers and Acquisitions Analysis

15.Company Profiles

• 15.1.Toray Industries Ltd.*
  • 15.1.1.Company Overview
  • 15.1.2.Product Portfolio and Description
  • 15.1.3.Financial Overview
  • 15.1.4.Key Developments
• 15.2.Teijin Limited
• 15.3.Mitsubishi Chemical Corporation
• 15.4.Hexcel Corporation
• 15.5.Solvay SA
• 15.6.SGL Carbon
• 15.7.Kureha Corporation
• 15.8.Hyosung Advanced Materials
• 15.9.Jilin Chemical Fiber Co., Ltd.
• 15.10.Jiangsu Hengshen Co., Ltd.

LIST NOT EXHAUSTIVE

16.Appendix

• 16.1.About Us and Services
• 16.2.Contact Us