Carbon Fiber Resin Market Insights
Carbon Fiber Resin Market is likely to witness an impressive CAGR of 11.5% during the forecast period. The growth of the market is attributed to the mounting demand for lightweight and strong composite materials from various end-use industries, such as aerospace & defense and automotive, which in turn, is pacing up the demand for carbon fiber resin. Owing to various properties, such as strength and stiffness, corrosion resistance, chemical resistance, high viscosity, and a host of others, the market for carbon fiber resins is witnessing significant growth. Further, the introduction of CAFÉ regulation in the North American and European regions and the usage of composite parts manufactured employing carbon fiber resins are likely to considerably snowball the growth of the market, majorly in the automotive application.
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Carbon Fiber Resin Market - Snapshot
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Growth
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11.5 % for the next five years
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Major Resin Type
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Thermoset Resin
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Dominant End-Use Industry Type
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Aerospace & Defense
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Region with the highest demand
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North America
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Key Players
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Huntsman Corporation, Alpha Owens-Corning, BASF SE, Hexion Inc,
Polynt S.P.A, Ashland Inc, Olin Corporation, The3M Company,
Aliancys AG, Kukdo Chemical Co. Ltd.
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Market Share Analysis
Carbon Fiber Resin Market Share: By Resin Type
Based on the resin type, the market is segmented as thermoset resin and thermoplastic resin. The thermoset resin segment held the larger share of the market in 2019, and is expected to remain dominant during the forecast period. It includes epoxy, polyester, and vinyl ester resin. Thermoset resins have high strength and resistance to temperature in comparison to thermoplastic resin, resulting to its larger applications in the automotive and aerospace & defense industries that require more heat and temperature-resistant materials. All these factors are likely to drive the growth of the segment during the forecast period.
Carbon Fiber Resin Market Share: By Application Type
Based on the application type, the market is segmented as aerospace & defense, wind energy, automotive, sporting goods, civil engineering, marine, electrical & electronics, pipe & tank, and others. The aerospace & defense industry segment dominates the market driven by its focus towards harnessing wind energy along with the demand for greener automotive, which has led to the increase in demand for carbon fiber resins.
Carbon Fiber Resin Market Share: By Region
In terms of regions, North America is estimated to be the largest as well as fastest-growing market for carbon fiber resin during the forecast period, with the US being the major country with excellent growth opportunities. The North American market is driven by the high demand for materials with lightweight and superior mechanical properties, majorly in the U.S. Europe and Asia-Pacific are also expected to offer promising growth opportunities during the forecast period.
Some of the major players in the carbon fiber resin market are-
- Huntsman Corporation
- Alpha Owens-Corning
- BASF SE
- Hexion Inc
- Polynt S.P.A
- Ashland Inc
- Olin Corporation
- The 3M Company
- Aliancys AG
- Kukdo Chemical Co. Ltd.
Market Scope & Segmentation
Carbon fiber resins are the derivatives of carbon and other elements, processed with the application of heat to form final fibers. These resins possess properties such as high strength, good chemical resistance, corrosion resistance, and high velocity, which make them the ideal material for the interior and exterior parts of an airplane.
Carbon fiber resins are of different types, i.e. thermoset resin and thermoplastic resin, that are used in various end-use industries, such as aerospace & defense, wind energy, automotive, sporting goods, civil engineering, marine, electrical & electronics, pipe & tank, and others.
This report studies the carbon fiber resin market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Carbon Fiber Resin Market Research Report - Features
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Market Segmentation
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4
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Regions Covered
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4
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Countries/Sub-Regions Covered
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17
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No. of Figures & Tables
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>150
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Company Profiles
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10
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The carbon fiber resin market is segmented into the following categories.
Carbon Fiber Resin Market Size, Share, & Forecast, by Resin Type:
- Thermoset Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Thermoplastic Resin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Carbon Fiber Resin Market Size, Share, & Forecast, by Form Type:
- Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Non-Prepreg (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Carbon Fiber Resin Market Size, Share, & Forecast, by Application Type:
- Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Wind Energy (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Sporting Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Civil Engineering (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Marine (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Pipe & Tank (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Carbon Fiber Resin Market Size, Share, & Forecast, by Region:
- North America (Country Analysis: the USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
- Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
- Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to 3 players)
- SWOT analysis of key players (up to 3 players)
Market Segmentation
- Current market segmentation of any one of the resin types by application type.
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected].
