The carbon fiber resin market is a growing industry that serves a wide range of applications, including aerospace, automotive, sports equipment, and construction. Carbon fiber is a strong and lightweight material that is often used in combination with a resin matrix to create composite materials. The resin matrix is used to bind the carbon fibers together and provide additional strength and stiffness to the composite material. The market for carbon fiber resin is expected to continue to grow in the coming years as demand for lightweight and durable materials increases. The aerospace industry is one of the largest consumers of carbon fiber resin, as it is used in the construction of aircraft components such as wings, fuselages, and engine parts. The automotive industry is also a significant consumer of carbon fiber resin, as it is used to make lightweight and fuel-efficient cars
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Low thermal expansion and high thermal and chemical resistance are two characteristics of carbon fiber resins. Carbon fibers are used extensively in aerospace and competitive auto sports, where every gram counts, due to their unique ability to be lightweight. Carbon fiber resins are the perfect material for fuel cells and gas storage because of its natural aversion to chemicals. Deep water drilling rigs, pipes, and windmill blades are just a few of its many applications. The wide range of uses for carbon fiber resin are a factor in its rising fame. Taking this into account, the market value is anticipated to surpass US$ 2377 Mn by 2032.
Key Takeaways:
- North America dominates the market, contributing 31.5% of global sales in 2022.
- Canada carbon fiber resin market is expected to register fast-track growth.
- China is expected to dominate the APAC market, accounting for 2/5th of the sales owing to being authority leading hub for automobile parts manufacturing.
- India is a fast-growing economy riding high on the economic growth and is expected to spur sales within the carbon fiber resin market.
- The US, China and Germany account for more than 45% of the global market.
- The aerospace and defense industries and surging energy demand will drive carbon fiber resins market. Application in manufacturing wind-mill blades also will create high growth prospects
Competitive Landscape:
The global carbon fiber resin market is highly competitive and fragmented in nature with the presence of several leading players. Majority of these players are collaborating with end users to generate more sales and are also focusing on new launches to gain competitive edge.
For instance,
- In July 2021, Toray Composite Materials America Inc., a global leader and innovator of carbon fiber materials unveiled its newest launch of Toray 2700. This is an epoxy-based 2700 high-performance and patented resin technology, designed especially for aerospace programs.
- In September 2020, Nissan announced the innovation for mass production of carbon fiber parts and for compression resin transfer molding to accurately follow the manufacturing process and have shorter development process.
Key Companies Profiled by Fact.MR
- ESE Industries
- Huntsman Corporation
- Alpha Owens-Corning
- Hexion Inc.
- Ashland Inc.
- BASF SE
- 3M
- Kukdo Chemical Co. Ltd.
- Olin Corporation
- Aliancys
- Polynt S.p.A
Key Questions Covered in the Carbon Fiber Resin Market Report
- What is the global carbon fiber resin market scenario?
- How far is the global demand expected to reach over the forecast period?
- Who are the dominant players in the global carbon fiber resin market?
- Which is the most leading region in the carbon fiber resin market?