Carbon Fiber Resin Market
Carbon Fiber Resin Market Analysis by Resin Type (Thermoset, Thermoplastic), by Form (Prepreg, Non-Prepreg), by End-Use Industry, by Region - Global Forecast 2022 to 2032
Analysis of Carbon Fiber Resin market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Global Carbon Fiber Resin Market Outlook (2022 to 2032)
The global carbon fiber resin market size is estimated to be worth USD 574 Million in 2022 and is forecast to grow with a CAGR of 15.3% to reach USD 2,377 Million by 2032. The carbon fiber demand is anticipated to remain under 5% of the global fiber consumption in 2022, which will witness 4X increase in next ten years.
| Report Attributes | Details |
|---|---|
| Carbon Fiber Resin Market Size (2021A) | USD 511 Million |
| Estimated Market Value (2022E) | USD 574 Million |
| Forecasted Market Value (2032F) | USD 2,377 Million |
| Global Market Growth Rate (2022 to 2032) | CAGR 15.3% |
| North America Market Share (2021) | ~ 31.5% |
| North America Growth Rate (2022 to 2032) | CAGR ~ 16.0% |
| US Growth Rate (2022 to 2032) | ~15.8% |
| Market Share of Top 5 Companies | ~29.6% |
| Key Companies Profiled | 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 |
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Carbon Fiber Resin Market Historical Outlook (2017 to 2021) vs. Forecast Outlook (2022 to 2032)
The first successful flight of Boeing Co.’s 787, which was 50% composite by weight, brought composites, especially carbon fiber resin to the spotlight and since then the carbon fiber resin market is attained unprecedented heights.
From worth of US$ 312 Mn in 2017, the market has grown with a CAGR of 13.1% by 2021. The low weight-to-strength ratio reflects the success of carbon fiber resin over other composites.
Composites’ resistance to fatigue provides flexibility in fabrication. This enables moulding of carbon fiber resins into the shape of choice with numerous bends eliminating the need of connectors. Hence, the composites are translating the products with lesser raw materials and rapid assembly.
These characteristics have fuelled the use of carbon fiber resin into wide fields. The focus on lightweight driven by the thrust for fuel economy and efficiency has expanded the use of carbon fiber resins from bicycle assembly to aircraft assemblies.
In the forecast period, the composites market is expected to experience a steep growth owing to its stiffness and tensile strength. Carbon fiber resin is 5X stronger and 2X stiffer than steel at the same time it weighs one-fourth of steel, consequently, carbon fibers are rapidly being adopted in luxury automobile manufacturing propelling the market to grow 4.1X over the forecast period of 2022 to 2032.
Carbon fiber resins offer an attractive market with an absolute $ opportunity worth US$ 1,866 Mn over 2022 to 2032 against the slower-growing legacy material markets like steel, titanium, iron, etc.
The Physical Properties of Carbon Fiber Resin are Expanding its Domain of Applications
Carbon fiber resins have high thermal and chemical resistance and low thermal expansion; they also propose good vibrational damping to be engineered for specialized applications. With the lower weight, the use of carbon fiber resins is guided into the aerospace industry as well as competitive auto sports where every gram makes a count.
Its chemical resistance makes it fit for natural gas storage and fuel cells. Use of carbon fiber resins is also implied in windmill blades, pipes, and deep water drilling platforms to list a few. The diverse domains catered by carbon fiber resin are accelerating its market to surpass US$ 2,377 Mn by 2032.
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Region-wise Analysis
Which region accounts for more enhanced demand for Carbon Fiber Resin Market?
North America dominates the carbon fiber resin market by accounting for 31.5% of the global market share in 2022. US is the key contributor of the North America market by ascribing more than 4/5th of the regional market however Canada market is expected to pace faster. The accelerating aerospace and defense sector is underpinning the growth of carbon fiber resin in the region.
What is the market scenario in Asia Pacific Carbon Fiber Resin Market?
The Asia-Pacific region collectively comprises of 28.6% of the global market share in 2022. However, the carbon fiber resin market behavior changes significantly in different geographies of APAC owing to its diverse economies. The low income, lower-middle income, upper-middle income and high-income countries together amalgamate the market behavior of APAC region.
China is expected to occupy more than 2/5th of the APAC market owing to its technological advancements and leadership in manufacturing automobile parts. On the other hand, India is a rapidly developing economy and is expected to propel the carbon fiber resin market fastest in the APAC region.
Country-wise Analysis
Which country accounts for more enhanced demand for Carbon Fiber Resin Market?
US, China and Germany are anticipated to offer the largest markets for carbon fiber resin in 2022 by conquering more than 45% of the global market. US will lead the market by contributing 27.8% share to the global carbon resin market.
The growing aerospace & defense industries and the need for green product manufacturing is driving the market forward. Harnessing renewable sources of energy like wind energy are the utmost need of the hour, the use of carbon fiber resins in manufacturing wind mill blades is also a key propeller of its market.
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Category-wise Analysis
Which Resin Type Holds Dominant Market Share and is Likely to Show Higher Growth in Carbon Fiber Resin Market Over the Assessment Period?
The carbon fiber resin market is segmented into thermoset and thermoplastic resins under resin type. The thermoset resin segment leads the market by holding 56.9% of the overall market share and is projected to register a CAGR of 15.5% during the forecast period.
The thermoset resins are preferred over thermoplastic resins because of its excellent resistance to solvents and corrosives and high temperature tolerance. The adoption of thermoplastic resins is also anchored by the challenges they offer in forming composites.
Which End-Use Industry Segment is Estimated to Support Market Growth in the Carbon Fiber Resin Market During the Forecast Period?
Under the end-use industry segment, the carbon fiber resin market is segmented into aerospace & defence, automotive OEM, wind energy, sporting goods and others. The aerospace & defence segment is forecast to dominate the market with a market share of 31.4% in 2022 and is projected to witness the fastest growth of CAGR 17.8% in coming years.
The reduction in overall weight achieved by replacing the legacy materials with carbon fiber resins is the foremost driver of its accelerating use in aerospace industry. The physical strength of carbon fiber resin make sit fit to withstand the extreme environments of heights and depths and wars leading its applications in aerospace & defence.
Competition Landscape
Key manufacturers of carbon fiber resin market enlists ESE Industries, Huntsman Corporation, Alpha Owens-Corning, Hexion Inc., Ashland Inc., BASF SE, 3M, Kukdo Chemical Co. Ltd., Olin Corporation, Aliancys, and Polynt S.p.A.
The capital intensiveness of the carbon fiber resin manufacturing is limiting its market to a handful of manufacturers. However, technological advancements in the field can promise cost reduction. Meanwhile, expanding applications of the carbon fiber resins are stimulating the manufacturers to robustly study the pros and cons of its broad-spectrum use.
The leading manufacturers are collaborating with the end-use industries to understand the physical parameters essential for molding the carbon fibers into the bespoke products when complexed with resins. This is steering the growth of carbon fiber resins into untapped markets.
Fact.MR has provided detailed information about the price points of top carbon fiber resin manufacturers positioned across regions, in addition to providing sales growth information, production capacity, and speculative production expansion, in the recently published report.
Key Segments of Carbon Fiber Resin Industry Survey
-
By Resin Type:
- Thermoset
- Thermoplastic
-
By Form:
- Prepreg
- Non-Prepreg
-
By End-Use Industry:
- Aeropspace & Defence
- Automotive OEM
- Wind Energy
- Sporting Goods
- Other Industries
-
By Region:
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Key Market Trends
- 4. Market Background
- 5. Value Chain Analysis
- 6. Market - Pricing Analysis
- 7. Market Value 2017 to 2021 Analysis and Forecast, 2022 to 2032
- 8. Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Resin Type
- 8.1. Thermoset
- 8.2. Thermoplastic
- 9. Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Form
- 9.1. Prepreg
- 9.2. Non-prepreg
- 10. Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By End-Use Industry
- 10.1. Aerospace & Defence
- 10.2. Automotive OEM
- 10.3. Wind Energy
- 10.4. Sporting Goods
- 10.5. Other Industries
- 11. Market 2017 to 2021 Analysis and Forecast 2022 to 2032, By Region
- 11.1. North America
- 11.2. Latin America
- 11.3. Europe
- 11.4. Asia-Pacific (APAC)
- 11.5. Middle East and Africa (MEA)
- 12. North America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 13. Latin America Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 14. Europe Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 15. APAC Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 16. Middle East and Africa Market 2017 to 2021 Analysis and Forecast 2022 to 2032
- 17. Key Countries Market Analysis 2017 to 2021 Analysis and Forecast 2022 to 2032
- 18. Market Structure Analysis
- 19. Competition Analysis
- 19.1. Huntsman Corporation
- 19.2. Alpha Owens-Corning
- 19.3. Hexion Inc.
- 19.4. Ashland Inc.
- 19.5. BASF SE
- 19.6. 3M
- 19.7. Kukdo Chemical Co. Ltd.
- 19.8. Olin Corporation
- 19.9. Aliancys
- 19.10. Polynt S.p.A.
- 20. Assumptions & Acronyms Used
- 21. Research Methodology
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List Of Table
Table 1: Global Market Value (USD Million) and Forecast By Region, 2017 to 2021
Table 2: Global Market Value (USD Million) and Forecast By Region, 2022 to 2032
Table 3: Global Market Value (USD Million) and Forecast By Resin Type, 2017 to 2021
Table 4: Global Market Value (USD Million) and Forecast By Resin Type, 2022 to 2032
Table 5: Global Market Value (USD Million) and Forecast By Form, 2017 to 2021
Table 6: Global Market Value (USD Million) and Forecast By Form, 2022 to 2032
Table 7: Global Market Value (USD Million) and Forecast By End-Use Industry, 2017 to 2021
Table 8: Global Market Value (USD Million) and Forecast By End-Use Industry, 2022 to 2032
Table 9: North America Market Value (USD Million) and Forecast By Country, 2017 to 2021
Table 10: North America Market Value (USD Million) and Forecast By Country, 2022 to 2032
Table 11: North America Market Value (USD Million) and Forecast By Resin Type, 2017 to 2021
Table 12: North America Market Value (USD Million) and Forecast By Resin Type, 2022 to 2032
Table 13: North America Market Value (USD Million) and Forecast By Form, 2017 to 2021
Table 14: North America Market Value (USD Million) and Forecast By Form, 2022 to 2032
Table 15: North America Market Value (USD Million) and Forecast By End-Use Industry, 2017 to 2021
Table 16: North America Market Value (USD Million) and Forecast By End-Use Industry, 2022 to 2032
Table 17: Latin America Market Value (USD Million) and Forecast By Country, 2017 to 2021
Table 18: Latin America Market Value (USD Million) and Forecast By Country, 2022 to 2032
Table 19: Latin America Market Value (USD Million) and Forecast By Resin Type, 2017 to 2021
Table 20: Latin America Market Value (USD Million) and Forecast By Resin Type, 2022 to 2032
Table 21: Latin America Market Value (USD Million) and Forecast By Form, 2017 to 2021
Table 22: Latin America Market Value (USD Million) and Forecast By Form, 2022 to 2032
Table 23: Latin America Market Value (USD Million) and Forecast By End-Use Industry, 2017 to 2021
Table 24: Latin America Market Value (USD Million) and Forecast By End-Use Industry, 2022 to 2032
Table 25: Europe Market Value (USD Million) and Forecast By Country, 2017 to 2021
Table 26: Europe Market Value (USD Million) and Forecast By Country, 2022 to 2032
Table 27: Europe Market Value (USD Million) and Forecast By Resin Type, 2017 to 2021
Table 28: Europe Market Value (USD Million) and Forecast By Resin Type, 2022 to 2032
Table 29: Europe Market Value (USD Million) and Forecast By Form, 2017 to 2021
Table 30: Europe Market Value (USD Million) and Forecast By Form, 2022 to 2032
Table 31: Europe Market Value (USD Million) and Forecast By End-Use Industry, 2017 to 2021
Table 32: Europe Market Value (USD Million) and Forecast By End-Use Industry, 2022 to 2032
Table 33: Asia Pacific Market Value (USD Million) and Forecast By Country, 2017 to 2021
Table 34: Asia Pacific Market Value (USD Million) and Forecast By Country, 2022 to 2032
Table 35: Asia Pacific Market Value (USD Million) and Forecast By Resin Type, 2017 to 2021
Table 36: Asia Pacific Market Value (USD Million) and Forecast By Resin Type, 2022 to 2032
Table 37: Asia Pacific Market Value (USD Million) and Forecast By Form, 2017 to 2021
Table 38: Asia Pacific Market Value (USD Million) and Forecast By Form, 2022 to 2032
Table 39: Asia Pacific Market Value (USD Million) and Forecast By End-Use Industry, 2017 to 2021
Table 40: Asia Pacific Market Value (USD Million) and Forecast By End-Use Industry, 2022 to 2032
Table 41: MEA Market Value (USD Million) and Forecast By Country, 2017 to 2021
Table 42: MEA Market Value (USD Million) and Forecast By Country, 2022 to 2032
Table 43: MEA Market Value (USD Million) and Forecast By Resin Type, 2017 to 2021
Table 44: MEA Market Value (USD Million) and Forecast By Resin Type, 2022 to 2032
Table 45: MEA Market Value (USD Million) and Forecast By Form, 2017 to 2021
Table 46: MEA Market Value (USD Million) and Forecast By Form, 2022 to 2032
Table 47: MEA Market Value (USD Million) and Forecast By End-Use Industry, 2017 to 2021
Table 48: MEA Market Value (USD Million) and Forecast By End-Use Industry, 2022 to 2032
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List Of Figures
Figure 1: Global Market Value (USD Million) Forecast, 2022 to 2032
Figure 2: Global Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 3: Global Market Value (USD Million) By Region, 2022 & 2032
Figure 4: Global Market Y-o-Y Growth Rate By Region, 2022 to 2032
Figure 5: Global Market Value (USD Million) By Resin Type, 2022 & 2032
Figure 6: Global Market Y-o-Y Growth Rate By Resin Type, 2022 to 2032
Figure 7: Global Market Value (USD Million) By Form, 2022 & 2032
Figure 8: Global Market Y-o-Y Growth Rate By Form, 2022 to 2032
Figure 9: Global Market Value (USD Million) By End-Use Industry, 2022 & 2032
Figure 10: Global Market Y-o-Y Growth Rate By End-Use Industry, 2022 to 2032
Figure 11: North America Market Value (USD Million) Forecast, 2022 to 2032
Figure 12: North America Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 13: North America Market Value (USD Million) By Country, 2022 & 2032
Figure 14: North America Market Y-o-Y Growth Rate By Country, 2022 to 2032
Figure 15: North America Market Value (USD Million) By Resin Type, 2022 & 2032
Figure 16: North America Market Y-o-Y Growth Rate By Resin Type, 2022 to 2032
Figure 17: North America Market Value (USD Million) By Form, 2022 & 2032
Figure 18: North America Market Y-o-Y Growth Rate By Form, 2022 to 2032
Figure 19: North America Market Value (USD Million) By End-Use Industry, 2022 & 2032
Figure 20: North America Market Y-o-Y Growth Rate By End-Use Industry, 2022 to 2032
Figure 21: North America Market Attractiveness Analysis By Country, 2022 to 2032
Figure 22: North America Market Attractiveness Analysis By Resin Type, 2022 to 2032
Figure 23: North America Market Attractiveness Analysis By Form, 2022 to 2032
Figure 24: North America Market Attractiveness Analysis By End-Use Industry, 2022 to 2032
Figure 25: Latin America Market Value (USD Million) Forecast, 2022 to 2032
Figure 26: Latin America Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 27: Latin America Market Value (USD Million) By Country, 2022 & 2032
Figure 28: Latin America Market Y-o-Y Growth Rate By Country, 2022 to 2032
Figure 29: Latin America Market Value (USD Million) By Resin Type, 2022 & 2032
Figure 30: Latin America Market Y-o-Y Growth Rate By Resin Type, 2022 to 2032
Figure 31: Latin America Market Value (USD Million) By Form, 2022 & 2032
Figure 32: Latin America Market Y-o-Y Growth Rate By Form, 2022 to 2032
Figure 33: Latin America Market Value (USD Million) By End-Use Industry, 2022 & 2032
Figure 34: Latin America Market Y-o-Y Growth Rate By End-Use Industry, 2022 to 2032
Figure 35: Latin America Market Attractiveness Analysis By Country, 2022 to 2032
Figure 36: Latin America Market Attractiveness Analysis By Resin Type, 2022 to 2032
Figure 37: Latin America Market Attractiveness Analysis By Form, 2022 to 2032
Figure 38: Latin America Market Attractiveness Analysis By End-Use Industry, 2022 to 2032
Figure 39: Europe Market Value (USD Million) Forecast, 2022 to 2032
Figure 40: Europe Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 41: Europe Market Value (USD Million) By Country, 2022 & 2032
Figure 42: Europe Market Y-o-Y Growth Rate By Country, 2022 to 2032
Figure 43: Europe Market Value (USD Million) By Resin Type, 2022 & 2032
Figure 44: Europe Market Y-o-Y Growth Rate By Resin Type, 2022 to 2032
Figure 45: Europe Market Value (USD Million) By Form, 2022 & 2032
Figure 46: Europe Market Y-o-Y Growth Rate By Form, 2022 to 2032
Figure 47: Europe Market Value (USD Million) By End-Use Industry, 2022 & 2032
Figure 48: Europe Market Y-o-Y Growth Rate By End-Use Industry, 2022 to 2032
Figure 49: Europe Market Attractiveness Analysis By Country, 2022 to 2032
Figure 50: Europe Market Attractiveness Analysis By Resin Type, 2022 to 2032
Figure 51: Europe Market Attractiveness Analysis By Form, 2022 to 2032
Figure 52: Europe Market Attractiveness Analysis By End-Use Industry, 2022 to 2032
Figure 53: Asia Pacific Market Value (USD Million) Forecast, 2022 to 2032
Figure 54: Asia Pacific Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 55: Asia Pacific Market Value (USD Million) By Country, 2022 & 2032
Figure 56: Asia Pacific Market Y-o-Y Growth Rate By Country, 2022 to 2032
Figure 57: Asia Pacific Market Value (USD Million) By Resin Type, 2022 & 2032
Figure 58: Asia Pacific Market Y-o-Y Growth Rate By Resin Type, 2022 to 2032
Figure 59: Asia Pacific Market Value (USD Million) By Form, 2022 & 2032
Figure 60: Asia Pacific Market Y-o-Y Growth Rate By Form, 2022 to 2032
Figure 61: Asia Pacific Market Value (USD Million) By End-Use Industry, 2022 & 2032
Figure 62: Asia Pacific Market Y-o-Y Growth Rate By End-Use Industry, 2022 to 2032
Figure 63: Asia Pacific Market Attractiveness Analysis By Country, 2022 to 2032
Figure 64: Asia Pacific Market Attractiveness Analysis By Resin Type, 2022 to 2032
Figure 65: Asia Pacific Market Attractiveness Analysis By Form, 2022 to 2032
Figure 66: Asia Pacific Market Attractiveness Analysis By End-Use Industry, 2022 to 2032
Figure 67: MEA Market Value (USD Million) Forecast, 2022 to 2032
Figure 68: MEA Market Absolute $ Opportunity (USD Million), 2022 to 2032
Figure 69: MEA Market Value (USD Million) By Country, 2022 & 2032
Figure 70: MEA Market Y-o-Y Growth Rate By Country, 2022 to 2032
Figure 71: MEA Market Value (USD Million) By Resin Type, 2022 & 2032
Figure 72: MEA Market Y-o-Y Growth Rate By Resin Type, 2022 to 2032
Figure 73: MEA Market Value (USD Million) By Form, 2022 & 2032
Figure 74: MEA Market Y-o-Y Growth Rate By Form, 2022 to 2032
Figure 75: MEA Market Value (USD Million) By End-Use Industry, 2022 & 2032
Figure 76: MEA Market Y-o-Y Growth Rate By End-Use Industry, 2022 to 2032
Figure 77: MEA Market Attractiveness Analysis By Country, 2022 to 2032
Figure 78: MEA Market Attractiveness Analysis By Resin Type, 2022 to 2032
Figure 79: MEA Market Attractiveness Analysis By Form, 2022 to 2032
Figure 80: MEA Market Attractiveness Analysis By End-Use Industry, 2022 to 2032
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- FAQs -
What is the global carbon fiber resin market scenario?
The global value of carbon fiber resin market is estimated to be worth over USD 574 Million in 2022.
How far is the global demand expected to reach over the forecasted period?
The demand is anticipated to surpass USD 2,377 Million by 2032 end.
What was the last 5-year CAGR for the demand in the carbon fiber resin market?
During 2017-2021, global carbon fiber resin market grew at 13.1% CAGR.
Who are the prominent players in the global carbon fiber resin market?
Some of the prominent players in carbon fiber resin market are ESE Industries, Huntsman Corporation, Alpha Owens-Corning, Hexion Inc., Ashland Inc., BASF SE etc.
Which is the most leading region in the Carbon Fiber Resin Market?
North America tops the global carbon fiber resin market accounting for 31.5% of global market share in 2022.
Which resin type segment contributes maximum share in carbon fiber resin sales?
Thermoset resin segment will contribute 56.9% of market share in global sales of carbon fiber resin for year 2022.
Carbon Fiber Resin Market