Aerospace Carbon Fiber Market Size and Growth Rate:
The Global Aerospace Carbon Fiber Market is expected to reach a net worth of USD XX by 2022, registering a CAGR of XX% during the forecast period 2017-2022.
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Aerospace Carbon Fiber Market Overview:
Aerospace carbon fiber market is promised to have steady growth rate over the forecast period. Carbon fibers are composed of carbon atoms where the diameter ranges from 5-10 micrometers. Carbon fiber is widely used in the aerospace due to its superior properties such as high stiffness, high tensile strength, low weight and high chemical resistance. These can withstand at harsh climatic conditions and provides safety for the aircraft. When combined with the other materials, the material becomes even stronger than usual and has high resistance of heat. The carbon fiber provides light weight structures in the aerospace industry.Pitch based carbon fibers have better properties and are widely used in the many applications when compared to rayon-based carbon fiber.
Aerospace Carbon Fiber Market Growth Drivers and Restraints:
The growing prevalence for the light-weight materials is a major factor driving the growth of the market to the large extent. The rise in the disposable income both in developed and developing countries are additionally boosting up the demand of the market.The rise in demand for the manufacturing of aircrafts with new features is fueling the growth of this market.
However, cost for manufacturing of this carbon fiber is restraining the demand of the market. Lack of sufficient knowledge in the utilization of the carbon fiber in aerospace industry is also declining the growth of the market.
Shifting trend towards the light-weight materials and also increased replacements of aluminum with carbon fiber is lucratively showing the growth opportunities of the market. Advanced technology is also taking part in improving the efficiency of the aircrafts which is also fueling the demand of the market.
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Aerospace Carbon Fiber Market Geographical Segmentation:
Regionally, the market is segmented into North America, Asia Pacific, Europe, Middle East and Africa. North America witnessed the highest shares over the past decade and is to continue the same in the coming years owing to adoption of advanced technology in manufacturing lightweight aircrafts and also increased capital income. Asia pacific is next in holding the dominant shares of the market with rise in support from the government in investments and also increaseddemand for the production of aircrafts. Europe is accounted to have highest growth rate with the increased utilization of carbon fiber for various applications in the aerospace industry.
Key Players of the Aerospace Carbon Fiber Market:
The major players in the aerospace carbon fiber market are Owen Corning (US), Solvay (Belgium), Hexcel Corporation (US), Royal Ten Cate (Netherland), Teijin Limited (Japan), and Toray Industries (Japan), among others.
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