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Europe Carbon Fiber Market Size (2024 - 2029)

The Europe carbon fiber market is poised for substantial growth, driven by the rising demand for fuel-efficient and lightweight vehicles and advancements in the aerospace and defense sectors. Despite challenges such as supply chain security for recycled carbon fiber and the availability of substitutes, the market is expected to expand, with opportunities arising from the increasing use of recycled carbon fiber and lignin as a raw material, as well as its growing application in the wind energy sector. Germany holds the largest market share and is anticipated to maintain its dominance throughout the forecast period.

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Market Size of Europe Carbon Fiber Industry

Europe Carbon Fiber Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 12.00 %
Market Concentration High

Major Players

Europe Carbon Fiber Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Carbon Fiber Market Analysis

The carbon fiber market in Europe is estimated to witness significant growth, at an estimated CAGR of over 12%, during the forecast period.

The COVID-19 pandemic significantly impacted the worldwide automobile and aerospace industries, considering a temporary halt in end-user operations owing to government-imposed lockdowns in many parts of the world. In the post-pandemic scenario, however, the industry recovered and is anticipated to grow significantly over the next few years.

  • The major factors driving the market's growth are the increasing demand for fuel-efficient and lightweight vehicles and recent advancements in the aerospace and defense industry.
  • However, supply chain security for recycled carbon fiber and substitutes' availability was restraining the market studied.
  • The increasing popularity of recycled carbon fiber, the emphasis on using lignin as raw material for carbon fiber, and the increasing application in the wind energy sector are likely to act as opportunities for the market studied over the forecast period.
  • Germany accounted for the largest market share and is expected to remain dominant during the forecast period.

Europe Carbon Fiber Industry Segmentation

Carbon fiber is composed of carbon atoms bonded to form a long chain. The fibers are utilized in numerous procedures to produce top-notch building materials since they are incredibly stiff, robust, and light. The carbon fiber market is segmented by raw material, type, application, end-user industry, and geography. The market is segmented by raw material into polyacrylonitrile (PAN), petroleum pitch, and rayon. By type, the market is segmented into virgin fiber (VCF) and recycled carbon fiber (RCF). Carbon fiber applications comprise composite materials, textiles, microelectrodes, and catalysis. By end-user industry, the market is segmented into aerospace and defense, alternative energy, automotive, construction and infrastructure, sporting goods, and other end-user industries. The report also covers the market size and forecasts for the carbon fiber market in 5 countries across Europe. The market sizing and forecasts for each segment are based on volume (ton) and value (USD million).

Raw Material
Polyacrtlonitrile (PAN)
Petroleum Pitch and Rayon
Type
Virgin Fiber (VCF)
Recycled Fiber (RCF)
Application
Composite Materials
Textiles
Microelectrodes
Catalysis
End-user Industry
Aerospace & Defense
Alternative Energy
Automotive
Construction & Infrastructure
Sporting Goods
Other End-user Industries
Geography
Germany
United Kingdom
Italy
France
Spain
Rest of Europe
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Europe Carbon Fiber Market Size Summary

The European carbon fiber market is poised for substantial growth, driven by the increasing demand for lightweight and fuel-efficient vehicles, alongside advancements in the aerospace and defense sectors. Despite the initial setbacks caused by the COVID-19 pandemic, which temporarily halted operations in key industries, the market has shown resilience and is expected to expand significantly in the coming years. The market's growth is further supported by the rising popularity of recycled carbon fiber and the use of lignin as a raw material, presenting new opportunities, particularly in the wind energy sector. Germany stands out as a dominant player in the market, benefiting from its robust aerospace and automotive industries, which are significant consumers of carbon fiber.

Carbon fiber's unique properties, such as its high strength-to-weight ratio and resistance to corrosion and temperature, make it an ideal material for various applications, especially in aerospace and defense. The material is extensively used in Carbon Fiber Reinforced Polymer (CFRP) components, contributing to the production of lightweight and high-performance aircraft parts. The European aerospace and defense industry, with Germany at the forefront, has demonstrated strong recovery and growth, further fueling the demand for carbon fiber. The market is characterized by a high level of consolidation, with major companies like Mitsubishi Chemical Carbon Fiber and Composites Inc., SGL Carbon, and Solvay playing pivotal roles. Recent developments, such as the inauguration of a carbon fiber recycling plant in France, highlight the industry's commitment to sustainability and innovation, ensuring continued growth and expansion in the European market.

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Europe Carbon Fiber Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Demand for Fuel-efficient and Lightweight Vehicles

      2. 1.1.2 Recent Advancements in the Aerospace and Defense Sector

    2. 1.2 Restraints

      1. 1.2.1 Supply Chain Security for Recycled Carbon Fiber

      2. 1.2.2 Availability of Substitutes

    3. 1.3 Industry Value-Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value and Volume)

    1. 2.1 Raw Material

      1. 2.1.1 Polyacrtlonitrile (PAN)

      2. 2.1.2 Petroleum Pitch and Rayon

    2. 2.2 Type

      1. 2.2.1 Virgin Fiber (VCF)

      2. 2.2.2 Recycled Fiber (RCF)

    3. 2.3 Application

      1. 2.3.1 Composite Materials

      2. 2.3.2 Textiles

      3. 2.3.3 Microelectrodes

      4. 2.3.4 Catalysis

    4. 2.4 End-user Industry

      1. 2.4.1 Aerospace & Defense

      2. 2.4.2 Alternative Energy

      3. 2.4.3 Automotive

      4. 2.4.4 Construction & Infrastructure

      5. 2.4.5 Sporting Goods

      6. 2.4.6 Other End-user Industries

    5. 2.5 Geography

      1. 2.5.1 Germany

      2. 2.5.2 United Kingdom

      3. 2.5.3 Italy

      4. 2.5.4 France

      5. 2.5.5 Spain

      6. 2.5.6 Rest of Europe

Europe Carbon Fiber Market Size FAQs

The Europe Carbon Fiber Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)

Mitsubishi Chemical Carbon Fiber and Composites Inc., SGL Carbon, Solvay, TEIJIN LIMITED and TORAY INDUSTRIES, INC. are the major companies operating in the Europe Carbon Fiber Market.

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