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Research Nester released a report titled “Aerospace Carbon Fiber Market : Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global aerospace carbon fiber market in terms of market segmentation by aircraft type (commercial aircrafts, military aircrafts and rotorcrafts); by applications (wings, wind turbine blades, rotor blades and others) and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
The global aerospace carbon fiber market is segmented by aircraft type into commercial aircrafts, military aircrafts and rotorcrafts; by applications into wings, wind turbine blades, rotor blades and others and by regions.
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The market is anticipated to grow at a CAGR of around 12% during the forecast period, i.e., 2019-2027. The market in the Asia-Pacific region is expected to show the highest growth rate during this period owing to the high production of aircrafts and the increasing preference of air transport among people in this region, mainly China, India and Japan. Along with these factors, the high availability of raw material in this region is also expected to boost the growth of the aerospace carbon fiber market. The aerospace industry in the North American region, mainly the US, is also expected to remain one of the leading industries in the market and result in the increasing demand for carbon fiber in the region.
With a growing demand for commercial and military aircraft, the usage of carbon fiber in the aerospace industry is increasing. The growth of the aerospace carbon fiber market can be attributed to the high demand for lightweight raw materials. The properties of carbon fibers such as high tensile strength, heat resistance, high stiffness and a high tolerance for high temperature among several others make it a good raw material for aircraft components.
Increasing Commercial Air Travel to Boost the Demand for Aerospace Carbon Fiber
The aerospace carbon fiber market is surviving on the back of the aviation industry and the production of lightweight, fuel-efficient aircrafts. With majority of people preferring to travel by air, the aviation sector is growing rapidly and will continue to do so in the coming years.
Increased Demand for Lightweight Aircrafts
Lightweight aircrafts have found to be associated with a lesser fuel consumption. As fuel-efficient aircrafts are highly desired in the industry, carbon fiber is an ideal material for production of aircraft parts both in the interior as well as exterior.
Growing Technological Advancements
As the aerospace industry is booming, new generation aircrafts are being developed on a regular basis on account of better and newer technology. Carbon fibers are a better substitute for the raw materials which are currently being used in the production of aircrafts. Such factors are anticipated to contribute to the growth of the market.
Overcoming the Restraints in the Global Aerospace Carbon Fiber Market
The high cost of carbon fibers is a key restraint in the aerospace industry which is affecting the market growth negatively. The production of carbon fibers is very costly and hence it is expensive for the end-users, i.e., the aerospace industry. Another major factor that decelerates the growth of this market is the inability of carbon fibers to get repaired. Instead, they have to be replaced by an entirely new part or component of the aircraft.
This report also provides the existing competitive scenario of some of the key players of the global aerospace carbon fiber market which includes company profiling of Bally Ribbon Mills, Hexcel Corporation, SGL Group, Toray Industries Inc., Solvay, Teijin Limited, Mitsubishi Chemical Carbon Fiber and Composites, BGF Industries Inc., BASF, Renegade Materials Corporation. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments.
On the whole, the report depicts detailed overview of the global aerospace carbon fiber market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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