According to a new report published by Allied Market Research, titled, “Aviation Carbon Fiber Market Size, Share, Competitive Landscape and Trend Analysis Report, by Raw Material, by Type, by End Use : Global Opportunity Analysis and Industry Forecast, 2021-2031.” The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global aviation carbon fiber market size was valued at $1.5 billion in 2021, and is projected to reach $4.4 billion by 2031, growing at a CAGR of 11.4% from 2022 to 2031.
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The factors such as rapidly growing & booming aviation industry, expansion of aircraft fleets by airline operators and rising expenditure by government in the aviation sector are the primary factors expected to propel the growth of aviation carbon fiber market in China. China is expected to invest more than $80 billion in aviation projects to keep up with the increasing demand for air travel. Also, over the next 20 years, Chinese carriers are expected to expand their fleets by more than 1,500 aircraft, a number that represents 20% of the demand worldwide, which is expected to offer numerous growth opportunities for carbon fiber market during the forecast period.
Stringent regulations to reduce environmental emissions from the aviation sector, a rise in demand for low-weight, environment-friendly, and fuel-efficient aircraft, and growth in the global aviation industry support the market growth. An increase in the use of carbon fiber in the military sector also boosts the growth of the aviation carbon fiber market. The surge in the popularity of electric aircraft is expected to offer growth opportunities during the forecast period. Based on region, North America held the largest share in 2021, contributing to more than two-fifth of the global aviation carbon fiber market share.
On the basis of raw material, the global aviation carbon fiber market has been segmented into PAN-based carbon fiber and Pitch-based carbon fiber. The PAN-based carbon fiber accounted for a significant market share in 2021. PAN-based carbon fibers are made from a synthetic fiber called polyacrylonitrile (PAN). The manufacturing of PAN-based carbon fibers includes spinning of the PAN co-polymer to form the fibers. The constant advancement in the technology to develop PAN-based carbon fibers to manufacture aircraft bodies and parts is expected to drive the growth of the market. For instance, in December 2019, Solvay and SGL Carbon announced a collaboration to develop highly-competitive advanced carbon fiber composites for primary structures in the aerospace industry. Under this agreement, the companies aim to provide the market with the first composite materials based on large-tow intermediate modulus (IM) carbon fiber.
The aviation carbon fiber market is segmented on the basis of raw material, type, end use, and region. By raw material, it is bifurcated into PAN-based carbon fiber and pitch-based carbon fiber. By type, the market is classified into continuous, long, and short. By end use, it is fragmented into commercial, military, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Based on raw material, the PAN-based carbon fiber segment held the highest share in 2021, accounting for more than 90 percent of the global aviation carbon fiber market, and is expected to continue its leadership status during the forecast period. The segment is also expected to register the highest CAGR of 11.6% from 2022 to 2031.
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Based on type, the continuous segment accounted for the highest share in 2021, contributing to around 90 percent of the global aviation carbon fiber market, and is expected to maintain its lead in terms of revenue during the forecast period. The segment is also expected to manifest the highest CAGR of 11.5% from 2022 to 2031.
Based on end use, the commercial segment accounted for the highest share in 2021, holding around three-fifth of the global aviation carbon fiber market, and is expected to continue its leadership status during the forecast period. However, the military segment is estimated to grow at the highest CAGR of 12.4% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifth of the global aviation carbon fiber market share. In addition, Asia-Pacific is expected to manifest the fastest CAGR of 12.7% during the forecast period.
Leading market players of the global aviation carbon fiber market analyzed in the research include Mitsubishi Chemical Group Corporation, Nippon Steel Corporation, SGL Carbon, Teijin Limited, Toray Industries, Inc., Hexcel Corporation, Solvay, Hyosung, OJSC SvetlogorskKhimvolokno, and DowAksa.
Key Benefits For Stakeholders:
➢ This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aviation carbon fiber market analysis from 2021 to 2031 to identify the prevailing aviation carbon fiber market opportunities.
➢ The market research is offered along with information related to key drivers, restraints, and opportunities.
➢ Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
➢ In-depth analysis of the aviation carbon fiber market segmentation assists to determine the prevailing market opportunities.
➢ Major countries in each region are mapped according to their revenue contribution to the global market.
➢ Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
➢ The report includes the analysis of the regional as well as global aviation carbon fiber market trends, key players, market segments, application areas, and market growth strategies.
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Frequently Asked Questions:
1. What is the current size of the aviation carbon fiber market?
2. What are the primary applications of carbon fiber in aviation?
3. What factors are driving the growth of the aviation carbon fiber market?
4. What are the challenges faced by the aviation carbon fiber market?
5. Who are the key players in the aviation carbon fiber market?
6. Which regions dominate the aviation carbon fiber market?
7. What are the emerging trends in the aviation carbon fiber market?
8. How does the aviation carbon fiber market contribute to sustainability?
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