Global Aerospace Carbon Fiber Market

Description

Carbon Fiber are fibers of 5-10 micrometers in diameter composed of carbon atoms. The raw material used to manufacture it is called as precursor and about 90% of the carbon fibers produced are made from polyacrylonitrile (PAN). The rest are made from Rayon or petroleum pitch. These are organic polymers characterized by long strings of molecules bound by carbon atoms, it gives the fiber high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerant and low thermal expansion. Due to these properties of the carbon fiber it has become very popular in aerospace, military, motorsports and others.

In Aerospace, the companies earlier used to construct airplane using aluminum which made it heavy and less fuel efficient, Due to the properties of Carbon fibers, the industry has switched from Aluminum to Carbon Fiber. As the Carbon Fiber is light weight, there will be significant reduction in the consumption of fuel by the aircraft and hence it will be able to travel long distances. As carbon fiber is durable, resistant to corrosion and fatigue which were the primary concerns with the metals, carbon fiber offers a respite to the industry as the maintenance cost of the aircraft came down significantly.

Market Dynamics

With the growing demand for fuel efficient aircrafts that can carry passengers over a long haul the demand for Carbon Fiber has increased tremendously over the last decade. The other factors are the increased penetration of carbon fiber in the production of commercial airlines and the growing demand of commercial planes fueled by the rise of passengers globally.

Market Segmentation

The Market has been segmented on the basis of Raw Materials, Tow Size and Application. On the basis os Raw Materials, it has been divided into PAN based and Pitch based. With respect to Tow Size it is categorized into Small tow and Large Tow and with respect to application it is segmented into Commercial airlines, Defense, wind turbine blades, and others.

Regional/Geographic Analysis

The United States and Canada in North America which has the market share; however, China and Japan in Asia-Pacific will grow at the highest rate over the next decades; Germany, UK, France, Italy and Russia have the largest market in in Europe.

Key Players

Some of the major players in the market includeToray Industries, Inc., BASF SE, SGL Group, Teijin Limited, Mitsubishi Rayon Co., Ltd., Hexcel Corporation, etc.