Increasing Demand of Fuel Efficient and Light-weight Vehicles
Carbon fiber owing to properties such as corrosion resistance, high strength to eight ratio, high workability etc. is used in automotive industry. There is demand for system and body parts that are durable, offer better performance and be lightweight. In a typical automobile, the use of fibers is 50% by volume while adding just 10% of weight. In addition to this, carbon fiber is prominent material that has changed the viewpoint from which fibers are used. For racing cars, luxury vehicles, military transport vehicles, etc. the requirement for high strength, crash resistant, and low weight because of the carbon fiber. Therefore, the increasing demand of lightweight and fuel-efficient vehicles will drive the carbon fiber market in Europe during the forecast period.
Growing Demand in Aerospace & Defense sector
Aerospace and defense is expected to account the largest share of the market for carbon fiber based on applications. The carbon fibers are perfect choice for numerous aerospace and defense applications as they provide strength, endurance, and stability as required. Conventional metal structures are increasingly being replaced by carbon fiber-reinforced plastics (CFRP) in the aircrafts due to their light yet stiff design structures. From the interior of an airplane or a jet to the rotor blades of a helicopter, composite materials are emerging as an integral part of the aerospace industry. In the defense industry, the use of carbon fiber-reinforced plastics (CFRP) is present in missile defense, ground defense, and in military marine.
Germany to Dominate the Market
Germany is expected to lead the Europe’s automotive market with more than 40 assembly and engine production plants that contribute to one third of the total automobile production in Europe. The use of reinforced carbon fiber has rapidly increased in automobile production for better results. The use of carbon fiber goes hand in hand with the automobile production and the increase in production shows there will be an automatic increase in usage of carbon fibers in the country. Additionally, the German aerospace industry is growing at a higher rate. With carbon fiber rapidly substituting the usage of aluminum in construction of aviation systems the development in aerospace field with certainly act as a boost to sales of carbon fiber in the market during the forecast period.
Major Players: Cytec Industries, Toho Tenax, Hexcel Corporation, Toray Industries, Inc., and SGL Carbon, among others.
Notable Developments in the Market
October, 2017: Hexcel Corporation completed the acquisition of Structil SA, a French manufacturer and supplier of high-performance composites to the aerospace, defense and industrial markets
December, 2017: Hexcel acquired the Oxford Performance Material’s Aerospace & Defense Business
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- Country that is expected to witness the fastest growth during the forecast period
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1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness- Porters Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
4. Market Dynamics
4.1.1 Increasing Demand of Fuel Efficient and Lightweight Vehicles
4.1.2 Accelerating Usage in Aerospace and Defense
4.2.1 High R&D Investment & Cost
4.2.2 Other Constriants
4.3.1 Increasing Application in Wind Energy Sector
4.3.2 Other Opportunities
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Raw Material Type
5.1.1 Polyacrtlonitrile (PAN)
5.1.2 Petroleum Pitch & Rayon
5.2 By Type
5.2.1 Virgin Fiber (VCF)
5.2.2 Recycled Fiber (RCF)
5.3 By Application
5.3.1 Composite Materials
5.4 By End-user Industry
5.4.1 Aerospace & Defense
5.4.2 Alternative Energy (Wind, etc.)
5.4.4 Construction & Infrastructure
5.4.5 Sporting Goods
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.2 United Kingdom
6.5 Nordic Countries
6.7 Rest of Europe
7. Future of the Market
8. Competitive Landscape
8.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, Recent Developments)
9.1 Toray Industries, Inc.
9.3 Toho Tenax
9.4 Zoltek Companies Inc.
9.5 Hexcel Corporation
9.6 Cytec Solvay
9.7 Nippon Graphite Fiber Corporation
9.8 SGL Carbon
9.10 Airborne International BV
9.11 SABIC Innovative Plastics
9.12 ELG Carbon Fibre Ltd.
9.13 European Aeronautic Defence and Space Company NV (EADS)
*List not exhaustive
** Subject to availability on public domain
- Toray Industries Inc.
- Toho Tenax
- Zoltek Companies Inc.
- Hexcel Corporation
- Cytec Industries
- Nippon Graphite Fiber Corporation
- SGL Carbon
- Airborne International BV SABIC Innovative Plastics
- ELG Carbon Fibre Ltd.
- European Aeronautic Defence and Space Company NV (EADS)