Pune, India, November 17, 2021 (GLOBE NEWSWIRE) – According to a study by Fortune Business Insights™, the global carbon fiber market share is expected to reach US$4.0888 billion by 2028.The increasing demand for light vehicles is expected to drive growth.According to data from the Indian Brand Equity Foundation (IBEF), Indian passenger car sales in October 2020 increased by 14.19% compared to 2019.The report further pointed out that the sales of the carbon fiber industry in 2020 will be US$2,238.6 million.It is estimated that during the forecast period from 2021 to 2028, the compound annual growth rate is 8.3%.
In January 2020, Solvay partnered with SGL Carbon to develop high-performance composite materials to make lighter aircraft.This decision was made because of the urgent need to reduce the weight of aircraft and reduce atmospheric emissions.According to company officials, “This partnership will help us create a new carbon fiber composite material for the aviation industry. Since this is just the beginning, we are screening these materials to use them in one of our programs. Light aircraft The era is about to take off to a whole new level.”
Due to the COVID-19 pandemic, the automotive industry has been severely affected.In Japan, South Korea, Italy, the United Kingdom, Germany and the United States, automakers have demonstrated the direct impact of the 2020 pandemic.Due to the interruption, OEMs must strengthen their supply chains.At the same time, many industries have closed their manufacturing facilities to prevent spread.
The report includes four important measures to estimate the current market size.A detailed secondary study was conducted to gather information about the mother market.Our next step includes preliminary research to verify these scales, hypotheses, and findings with different industry experts.We also use bottom-up and top-down methods to calculate the size of this industry.
Many companies are investing heavily in development processes to reduce the weight of vehicles.As a result, the use of carbon fiber reinforced polymer (CFRP) in high-end super sports cars has increased.CFRP has a density as low as 1.6g/cc and has an excellent strength-to-weight ratio.In addition, light-duty vehicles can save approximately 6% to 8% of fuel and have better fuel efficiency.These factors are expected to accelerate the growth of the carbon fiber market in the next few years.However, the cost of this fiber is very high.It mainly depends on the cost and output of the precursor, which in turn may hinder growth.
According to applications, the market is divided into aviation, aerospace and defense, automotive, wind turbines, sports and leisure, and construction.Based on the precursor, it is divided into pitch and overtone.The following is a brief description of towing standards:
According to traction: the market is divided into big traction and small traction.Among them, the global and US carbon fiber market shares of large tow are 24.3% and 24.6%, respectively.Several companies are now trying to create new strategies to develop the intermediate modulus of large tows.
There are many companies in the global market for carbon fiber, such as Teijin Co., Ltd., Toray Industries, and Zoltek.They mainly focus on acquiring local companies, launching state-of-the-art products or cooperating with well-known organizations.
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Post time: Dec-27-2021