FEATURED COMPANIES
- DowAksa
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- SGL Carbon
- Solvay
The Europe carbon fiber market is expected to grow from US$ 721.82 million in 2019 to US$ 1,504.51 million by 2027; it is estimated to grow at a CAGR of 9.8% from 2020 to 2027. The escalating usage of carbon fiber in the wind energy industry is bolstering the growth of the market in Europe. Growing demand for renewable resources has led to a surge in the installation for wind farms, with large tracts of land and coastal areas devoted to the operation of wind turbines. The wind turbine manufacturers strive to produce more efficient and longer blades. Advanced composite materials such as carbon fiber are becoming a major part of the construction of wind turbines, specifically the blades. According to the studies conducted by companies operating in the market, longer the blades on a turbine, more is the energy it generates. Carbon fibers plays a crucial role in the wind energy industry. Large blades are typically designed for stiffness and deflection, rather than taking material strength into consideration. Carbon fibers, if used in the turbines, enable high stiffness characteristic that reduces blade deflection, allowing a larger tower diameter for a given blade-to-tower clearance. Carbon fibers are added in the spar cap, which is the backbone of the blade. These fibers are also considered as an effective alternative to the glass fibers used in the wind turbines, as they make the blades thinner, stiffer, and lighter. Furthermore, they have relatively low damage tolerance, compressive strength, and ultimate strain. Thus, carbon fiber has come up as an impactful technology for turbine manufacturers such as Vestas Wind Systems A/S and Gamesa Technology Corp. These companies use carbon fiber in select structural parts of the blades. Lighter blades require less robust turbine and tower components, and hence, the cascading cost savings justify the additional cost of carbon. The rising demands from the automotive and aerospace applications are among the other factors expected to positively influence the demand for carbon fiber in Europe during the forecast period.
In Europe, currently the UK and Russia are the hardest-hit countries due to the COVID-19 outbreak pandemic. It is suffering an economic hit due to the lack of revenues generated from various industries, as the country recorded the highest number of COVID-19 confirmed cases followed by France, Spain, Italy, and Germany. Many member states have implemented drastic measures and travel restrictions, including partially closing their borders. These measures are impacting the growth of the Europe carbon fiber market.
The Europe carbon fiber market is segmented on the basis of raw material, end use industry, and country. Based on raw material, the market is bifurcated into PAN and Pitch. In 2019, the PAN segment held a larger market share. Based on end user industry, the Europe carbon fiber market is segmented into automotive, aerospace and defense, construction, sporting goods, wind energy, and others. The market for the aerospace and defense segment is expected to grow fastest during the forecast period.
The overall Europe carbon fiber market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe carbon fiber market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe carbon fiber market. DowAksa; Formosa Plastic Corporation; Hexcel Corporation; Hyosung Corporation; Kureha Corporation; Mitsubishi Chemical Corporation; SGL Carbon; Solvay; Teijin Limited; and Toray Industries, Inc are among the leading companies operating in the market
Reasons to Buy
In Europe, currently the UK and Russia are the hardest-hit countries due to the COVID-19 outbreak pandemic. It is suffering an economic hit due to the lack of revenues generated from various industries, as the country recorded the highest number of COVID-19 confirmed cases followed by France, Spain, Italy, and Germany. Many member states have implemented drastic measures and travel restrictions, including partially closing their borders. These measures are impacting the growth of the Europe carbon fiber market.
The Europe carbon fiber market is segmented on the basis of raw material, end use industry, and country. Based on raw material, the market is bifurcated into PAN and Pitch. In 2019, the PAN segment held a larger market share. Based on end user industry, the Europe carbon fiber market is segmented into automotive, aerospace and defense, construction, sporting goods, wind energy, and others. The market for the aerospace and defense segment is expected to grow fastest during the forecast period.
The overall Europe carbon fiber market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the Europe carbon fiber market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Europe carbon fiber market. DowAksa; Formosa Plastic Corporation; Hexcel Corporation; Hyosung Corporation; Kureha Corporation; Mitsubishi Chemical Corporation; SGL Carbon; Solvay; Teijin Limited; and Toray Industries, Inc are among the leading companies operating in the market
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Europe carbon fiber market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Frequently Asked Questions about the European Carbon Fiber Market
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FEATURED COMPANIES
- DowAksa
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- SGL Carbon
- Solvay
1. Introduction
3. Research Methodology
4. Carbon Fiber Market Landscape
5. Europe Carbon Fiber Market - Key Industry Dynamics
6. Carbon Fiber - Europe Market Analysis
7. Europe Carbon Fiber Market Analysis - by Raw Material
8. Europe Carbon Fiber Market Analysis - By End-Use Industry
9. Country Analysis Of Europe Carbon Fiber Market
10. Overview - Impact of COVID-19
11. Industry Landscape
12. Company Profiles
13. Appendix
List of Tables
List of Figures
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A selection of companies mentioned in this report includes:
- DowAksa
- Formosa Plastic Corporation
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- Mitsubishi Chemical Corporation
- SGL Carbon
- Solvay
- Teijin Limited
- Toray Industries,Inc
Note: Product cover images may vary from those shown