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.
Portland, OR, March 02, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global aviation carbon fiber market garnered $1.5 billion in 2021 and is estimated to generate $4.4 billion by 2031, manifesting a CAGR of 11.4% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report Coverage & Details:
|Market Size in 2021||$1.5 billion|
|Market Size in 2031||$4.4 billion|
|No. of Pages in Report||363|
|Segments Covered||Raw material, type, end-use, and region|
|Drivers|| Stringent regulations to reduce environmental emissions from the aviation sector
Rise in demand for low-weight, environment-friendly, and fuel-efficient aircraft
Growth in the global aviation industry
Increase in the use of carbon fiber in the military sector
|Opportunities|| The surge in the popularity of electric aircraft
Technological advancement and research
Rise in the use of carbon fiber for 3D printing in aviation
|Restraints|| Complex manufacturing process
High cost of PAN-based carbon fiber
- The outbreak of the COVID-19 pandemic hurt the growth of the global aviation carbon fiber market, owing to the implementation of global lockdown which hampered the aviation industry.
- Curfew practices globally affected the domestic as well as international production of aircraft, which, in turn, hampered the growth of the overall market.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced a shortage of labor and unavailability of raw materials.
- The aviation carbon fiber market has a high scope of growth opportunities in the future due to factors such as high investment in the development of electric aircraft and increases in the development of low-weight and fuel-efficient aircraft.
The research provides detailed segmentation of the global aviation carbon fiber market based on raw material, type, end-use, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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.
The report provides a detailed analysis of these key players in the global aviation carbon fiber market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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