Carbon Fiber Resin Market Forecast | 2023-28

The global carbon fiber resin market is estimated to grow from USD 479.13 million in 2023 to USD 842.66 million by 2028 at a CAGR of 11.95% during the forecast period.

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What is carbon fiber resin?

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.

Market Dynamics

The growth of the carbon fiber resin 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.

Key Players

Some of the major players in the carbon fiber resin market are-

• Huntsman Corporation
• BASF SE
• Hexion Inc
• Polynt S.P.A
• Ashland Inc
• Olin Corporation
• The 3M Company
• Aliancys AG
• Kukdo Chemical Co. Ltd.
• Alpha Owens-Corning

Segment Analysis

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Carbon Fiber Resin Market: 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 2022 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 in 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 carbon fiber resin market during the forecast period.

Carbon Fiber Resin Market: 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 on 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: By Region

North America is estimated to be the largest as well as the 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.

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Segmentation

This report studies the carbon fiber resin market covering 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.

The carbon fiber resin market is segmented into the following categories. 

By Resin Type:                  

• Thermoset Resin 
• Thermoplastic Resin 

By Form Type:                   

• Prepreg 
• Non-Prepreg 

By Application Type:

• Aerospace & Defense 
• Wind Energy 
• Automotive 
• Sporting Goods 
• Civil Engineering 
• Marine 
• Electrical & Electronics 
• Pipe & Tank 
• Others 

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)

Report Features

This report provides market intelligence most totally. The carbon fiber resin market 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. 

What Deliverables Will You Get in this Report?

Research Methodology

This report offers high-quality insights and is the outcome of a 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 books, press releases, journals, investor presentations, 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 qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

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 to sales@stratviewresearch.com.