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Aerospace And Defense Materials Market — Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2024–2030

Report Coverage

The report “Aerospace and Defense Materials Market– Forecast (2024–2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aerospace and Defense Materials market. By Product Forms: Round Products (Bar, Rod, Pipe, Others), Flat Products (Slab, Plat, Sheet, Others), Net-shaped products (Forging, Near-net-shaped powdered products, Machined components) By Material: Metals & Alloys (Aluminum, Titanium alloys, Nickel-based alloys, Steels, Superalloys, Tungsten, Niobium, Others), Composites, Plastics, (Polyetheretherketone (PEEK), Polyamide-imide (PAI), Others), Others By Application: Airframe, Cabin interior, Propulsion, Aero Engine, Naval System, Weapons, Navigation and sensors, Satellites, and Others. By End-use Industry: Aircrafts (Wide Body Aircrafts, Single Aisle Aircrafts, Regional Transport Aircrafts), Rotorcrafts, Spacecrafts, Others. By Geography: North America, South America, Europe, Asia-Pacific, RoW

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Key Takeaways

Innovation in the realm of aerospace and defense materials is being fueled by ongoing advancements in materials science and engineering. The development of stronger, more resilient, and lighter materials such as improved composites and alloys is made possible by these breakthroughs. These materials are essential for increasing performance, reducing fuel consumption, and extending the life of defense and aerospace systems. For instance, the use of carbon fiber-reinforced polymers (CFRP) in airplane components has significantly reduced weight without sacrificing structural integrity, saving fuel and improving performance. The fabrication of complicated geometries and bespoke components is made possible by developments in additive manufacturing techniques, which further expand the capabilities of materials used in aerospace and defense.

Several nations’ governments are making significant investments in R&D projects to create cutting-edge defense and aerospace technologies. For instance, as per the International Trade Administration, Canada has aerospace sector spent more than C$680 million (about $523 million) on research and development in 2022, making it more than 2.3 times more intensive than the industrial average. For the first C$2 million (about $1.55 million) in eligible R&D expenses, the Canadian government offers complete write-offs of R&D capital and equipment. This encourages businesses in the Canadian sector to maintain an advantage over rivals worldwide.

As per the Indian Brand Equity Foundation, with approximately $223 billion in planned capital expenditures for aerospace and defense over the next ten years and a projected $130 billion investment over the medium term, the Indian defense sector is among the biggest and most lucrative in the world. This will contribute to an expansion in the market for aerospace and defense materials.

By Product Forms — Segment Analysis Flat Products dominated the Aerospace and defense materials market in 2023. Advanced high-strength steel alloys and aluminum are examples of flat products that combine strength and lightweight. For aerospace applications, where a lighter aircraft can result in significant fuel savings and increased efficiency, this weight reduction is essential. For instance, in October 2023, GKN Aerospace and IperionX, a titanium developer located in North Carolina, joined to supply titanium plate test components that are produced using powder metallurgy and titanium angular powder processes. The main goal of this collaboration is to manufacture high-performance titanium plates for testing purposes at GKN Aerospace. It ends with the possibility of future cooperation between GKN Aerospace and IperionX, especially for projects related to the Department of Defense (DoD) in the United States.

Slabs provide industrial flexibility since they can be further processed to create a variety of products, including plates, sheets, strips, and structural elements. Because of the material’s adaptability, aerospace and defense companies can create a vast array of parts and structures and tailor them to match particular design specifications. For structural elements including fuselage skins, wing panels, bulkheads, floor beams, and armor plating, slabs are widely employed in aerospace and defense applications. For the structural loads, vibrations, and difficult operating conditions found in aerospace and defense settings, slabs offer the strength, stiffness, and longevity needed.

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By Material — Segment Analysis Metals & Alloys dominated the aerospace and defense materials market in 2023. The aerospace industry relies heavily on various metals due to their unique properties. To safely interact with and complement the new composite materials that are rapidly taking over the aerospace industry. Metal alloys like titanium and nickel-based superalloys are replacing aluminum structures in applications requiring extraordinarily high strength-to-weight ratios. The demand for Superalloys based on nickel, cobalt, and iron is also increasing which makes them perfect for hot applications in jet engines. For example, in June 2023, ATI Allvac, which manufactures nickel-base and cobalt-base superalloys, titanium-base alloys, and specialty steels for the aerospace industry, said that it had received an estimated $1.2 billion in new sales commitments from major aerospace and defense industries. For instance, in October 2023, Novelis, a global leader in aluminum rolling and recycling and a top supplier of sustainable aluminum solutions, announced that it had extended its agreement with Airbus. This agreement strengthens Novelis’s long-standing relationship with Airbus and highlights the company’s leadership position in supplying cutting-edge aluminum products and services to the commercial aircraft sector. In October 2022, Mishra Dhatu Nigam Limited (MIDHANI) and Boeing India announced a collaboration to create raw materials for the aerospace industry. MIDHANI is a state-owned steel component, superalloy, and other material provider.

By Application — Segment Analysis Cabin interior dominated the aerospace and defense materials market in 2023. Adoption of new technologies, such as additive manufacturing, has the potential to transform supply chains and product design, driving higher demand for materials used in cabin interiors. For example, in February 2023, Chromatic 3D Materials, a 3D-printing technology enterprise, announced that their thermoset polyurethanes passed 14 CFR vertical burn tests, demonstrating anti-flammability norms for airworthiness. The successful examination indicates that the abrasion-resistant materials can be used to 3D-print a wide range of airline parts, including elastomeric components for stowage compartments and ornamental panels, as well as ductwork, cargo liners, fabric sealing, and other applications. There has been an increase in demand lately for business jets and older aircraft to be repaired and renovated. For instance, in November 2022, Emirates invested $2 bn and began its huge 2-year refurbishment program with the first of 120 aircraft slated for a full cabin interior upgrade and the installation of the airline’s most recent Premium Economy seats. Similarly, refurbishment activities are expected to strengthen the market throughout the forecast period.

By End-use Industry- Segment Analysis Aircrafts dominated the aerospace and defense materials market in 2023. There is a growing usage of high-performance materials in commercial aircraft applications. for example, Boeing estimates that the airline industry will need more than 44,000 new commercial aircraft by 2038, with a total estimated value of $6.8 trillion. All these aircraft employ composite materials. Aircraft manufacturers are producing new commercial, military, and general aviation aircraft models, which necessitate the use of modern materials with higher performance and lower weight. As a result, the emphasis is shifting toward newer material technologies such as composites. Also, wide-body jet engines have undergone significant transformations in recent years, due to the development of turbofan engines and the use of fuel-efficient techniques. These transformations are expected to increase the market growth.

By Geography — Segment Analysis North America dominated the aerospace and defense materials market in 2023. In terms of aerospace and defense technologies, the United States and Canada are at the forefront. New, high-performance materials utilized in these industries are developed as a result of ongoing discoveries and developments in materials science. The defense budget of the United States is among the highest in the world. High levels of government investment in defense raise the need for cutting-edge materials for use in aircraft, military hardware, and other defense systems. For instance, as per the International Trade Administration, Canada has aerospace sector spent more than C$680 million (about $523 million) on research and development in 2022, making it more than 2.3 times more intensive than the industrial average. For the first C$2 million (about $1.55 million) in eligible R&D expenses, the Canadian government offers complete write-offs of R&D capital and equipment. This encourages businesses in the Canadian sector to maintain an advantage over rivals worldwide. On 11 December 2023, The Department of Defense’s (DoD) Industrial Base Analysis and Sustainment (IBAS) Program and the Institute for Advanced Composites Manufacturing Innovation® (IACMI) announced a national initiative to help meet critical defense needs in the casting and forging industry for the United States. Curriculum creation for a series of stackable training opportunities in the metals industry, with an emphasis on the development of trades and engineering workers, is currently underway as part of the multi-year agreement between DoD and IACMI.

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Drivers — Aerospace and Defense Materials Market • The Growing Demand for Lightweight and High-strength Materials The growing need for lightweight and high-strength materials is driving substantial growth in the global aerospace and defense materials market. Due to their high strength-to-weight ratios, lightweight materials like carbon fiber composites, titanium alloys, and advanced polymers are in high demand by the aerospace and defense industries. These materials not only reduce aircraft weight but also improve structural integrity, which lowers operating costs and fuel efficiency. High-strength and lightweight materials have always been essential to building aircraft that are both fuel-efficient and highly effective. aluminum is a major material used to make aircraft. Aluminum was utilized in the production of several aircraft components, including the fuselage and other primary engine sections since it was lightweight, affordable, and easily accessible. Since then, innovative materials have been used to improve aircraft design, including composites (made of carbon and glass fiber, polymeric and epoxy resins) and metals (titanium, steel, new AI alloys). For instance, on 23 October 2023, The U.S. Department of Commerce’s Economic Development Administration (EDA) under the Biden-Harris administration selected the American Aerospace Materials Manufacturing Center as one of the 31 first Tech Hubs nationwide. About 50 public and private partners are brought together by Gonzaga University’s AAMMC Tech Hub to foster innovation and development manufacturing of composite materials for the next generation of lightweight, environmentally friendly aircraft. For instance, in 2020, NASA engineers have created novel materials that can be utilized to create better aircraft engines and related system elements. Silicon Carbide (SiC) Fiber-Reinforced SiC Ceramic Matrix Composites (SiC/SiC CMCs) are one of these materials. For high-performance machinery, such as aircraft engines, that must run for lengthy periods under harsh conditions, this lightweight, reusable fiber material is perfect. In between maintenance cycles, SiC fibers are robust enough to endure months or even years, and they can tolerate temperatures as high as 2,700 degrees Fahrenheit.

• The Global Civil Aviation Industry is Expanding Rapidly The global civil aviation industry’s explosive expansion is one of the key factors propelling the aerospace and defense materials market. The aerospace and defense materials industry’s demand for materials is heavily influenced by several interrelated factors, all of which contribute to its rise The rise in air travel worldwide, which is being driven by urbanization and increased disposable incomes, is one of the main factors. The increased demand for commercial air travel as a result has forced airlines to modernize and grow their fleets. The pressure on aerospace manufacturers to make sophisticated, lightweight, and fuel-efficient aircraft is pushing the development of advanced alloys, lightweight composites, and high-performance materials that promote environmental sustainability and passenger safety. For instance, the aviation industry is and will continue to expand rapidly. The International Civil Aviation Organization’s most recent projections indicate that throughout the next 20 years, the demand for air travel will rise by an average of 4.3% per year. For instance, according to the IBEF, India is the third-biggest domestic air travel market globally. By 2024, the domestic aviation market in India is expected to grow to $30 billion, ranking third globally. The aviation industry has benefited from an increase in the proportion of middle-class households, fierce rivalry among low-cost carriers, considerable airport infrastructure investment, and a favorable political climate.

Challenges — Aerospace and Defense Materials Market • Stringent regulations and certifications Strict quality and safety regulations apply to the aerospace and defense sectors, which can present difficulties for suppliers and manufacturers of materials. To guarantee safety, dependability, and compliance, materials used in aerospace and defense must meet strict regulatory requirements and certifications. Because materials must go through lengthy testing and validation procedures, meeting these standards increases the production process complexity and cost. For aerospace and defense materials, obtaining regulatory licenses and certifications is an expensive and time-consuming procedure. It entails thorough testing, documentation, and adherence to legal requirements set forth by governing bodies like the European Aviation Safety Agency (EASA) in Europe or the Federal Aviation Administration (FAA) in the United States. Smaller manufacturers or new entrants may be discouraged from entering the market due to the substantial time and resource investment necessary.

Market Landscape Technology launches and R&D activities are key strategies adopted by players in the Aerospace and Defense Materials market. In 2023, the Aerospace and Defense Materials market share has been consolidated by the major players accounting for 80% of the share. Major players in the Aerospace and Defense Materials are Alcoa Corporation, Novelis Inc., Thyssenkrupp Aerospace, Toray Industries Inc., Mitsubishi Chemical Group, Teijin Limited, Hexcel, Allegheny Technologies, Constellium, Solvay S.A., Formosa, SGL Group, Kobe Steel Ltd., among others.

Developments:

In October 2023, Novelis and Airbus inked a contract to continue their cooperation. The deal strengthens Novelis and Airbus’s long-standing cooperation and highlights the company’s leadership in developing cutting-edge aluminum goods and solutions for the commercial aircraft sector.

In June 2023, as a strategic partner of Spirit’s Aerospace Innovation Centre (AIC) in Prestwick, Scotland, Solvay and Spirit AeroSystems (Europe) Limited have deepened their partnership. Together with Spirit’s academic, industrial, and supply-chain partners, the AIC fosters cooperative research into environmentally friendly aircraft technology and procedures.

In June 2022, Sikorsky granted Hexcel Corporation a long-term contract to supply cutting-edge composite structures for the CH-53K King Stallion heavy lift helicopter. This funding has significantly increased the Hexcel composite composition of the airplane.

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priyarao-01 · 8 months ago

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Fiber-Reinforced Plastic (FRP) Recycling Market: Insights for 2024-2032

According to Triton Market Research, the global fiber-reinforced plastic (FRP) recycling market report is segmented into Product Type (Glass-Fiber Reinforced Plastic, Carbon-Fiber Reinforced Plastic), Recycling Technique (Thermal/Chemical Recycling, Incineration and Co-incineration), Mechanical Recycling [Size Reduction]), End-User (Industrial, Transportation, Building and Construction, Sports, Other End-Users), and Regional Outlook (Europe, Asia-Pacific, Middle East and Africa, North America, Latin America).

The report highlights the Market Summary, Industry Outlook, Impact Analysis, Porter’s Five Forces Analysis, Market Maturity Analysis, Supply Chain Analysis, Key Market Strategies, Market Drivers, Challenges, Opportunities, Analyst Perspective, Competitive Landscape, Research Methodology and scope, Global Market Size, Forecasts & Analysis (2024-2032).

Triton Market Research report states that the global market for fiber-reinforced plastic (FRP) recycling is deemed to witness growth at a compound annual growth rate of 8.04% in revenue and 7.46% in volume during the forecast period 2024-2032.

Fiber-reinforced plastic (FRP) recycling involves collecting, sorting, and reprocessing waste materials made from composites of polymers reinforced with fibers like glass, carbon, or aramid. These materials commonly come from products such as boats, automotive parts, aerospace components, and construction materials.

Factors such as growth in products made from recycled fiber-reinforced plastics, innovations in composite recycling, and a rise in R&D efforts create opportunities for the FRP recycling market. Innovations in composite recycling are unlocking significant opportunities for the studied market by addressing long-standing challenges in processing these complex materials. Traditional FRP composites, which are widely used in industries like aerospace, automotive, and construction, have historically been difficult to recycle due to their reinforced fibers and durable resin matrix. However, advancements in technologies such as chemical recycling, thermal recovery, and mechanical processes allow for the efficient separation and recovery of valuable fibers, reducing waste and environmental impact.

On the contrary, limited recycling techniques for CFRP and the complex process of FRP recycling, coupled with a lack of awareness, hampers the expansion of the FRP recycling market.

Globally, North America is expected to become the fastest-growing region in the fiber-reinforced plastic recycling market. The region’s gradual growth is propelled by increasing environmental concerns and regulatory pressures to adopt sustainable waste management practices. Industries such as automotive, aerospace, and construction heavily utilize FRPs for their high strength-to-weight ratios, leading to a significant accumulation of composite waste. Advancements in recycling technologies—like mechanical grinding, pyrolysis, and chemical processes—are being explored to overcome these hurdles associated with FRP recycling.

The leading companies in the FRP recycling market are Global Fiberglass Solutions, Carbon Conversions, Aeron Composite Pvt Ltd, Conenor Ltd, Carbon Fiber Recycling, Gen 2 Carbon Limited, Carbon Fiber Recycle Industry Co Ltd, Mitsubishi Chemical Group Corporation, NeoComp GmbH, Vartega Inc, Toray Industries Inc, UComposites AS, and MCR Mixt Composites Recyclables.

The FRP recycling market presents moderate barriers for new entrants. While advanced mechanical and chemical recycling technologies can be costly, strict government regulations and growing environmental awareness fuel market expansion, making it appealing for newcomers. Achieving economies of scale is challenging, as higher capacity is often needed to ensure cost efficiency and profitability. Despite this, limited product differentiation makes it easier for new competitors to enter the market. As a result, the overall threat of new entrants remains moderate.

#fiberreinforcedplasticrecycling #frprecycling #chemicalsandmaterials #polymersandresins #marketresearchtrends #tritonmarketresearch

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mrudula01 · 8 months ago

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Fiber-Reinforced Plastic (FRP) Recycling Market: Insights for 2024-2032

Traditional FRP composites, which are widely used in industries like aerospace, automotive, and construction, have historically been difficult to recycle due to their reinforced fibers and durable resin matrix. However, advancements in technologies such as chemical recycling, thermal recovery, and mechanical processes allow for the efficient separation and recovery of valuable fibers, reducing waste and environmental impact.

On the contrary, limited recycling techniques for CFRP and the complex process of FRP recycling, coupled with a lack of awareness, hampers the expansion of the FRP recycling market.

#fiberreinforcedplasticrecycling #frprecycling #chemicals #materials #polymersandresins #tritonmarketresearch #marketresearchtrends

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globaltrendsnow12 · 8 months ago

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yimarcgroup · 11 months ago

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Carbon Fiber Reinforced Plastic (CFRP) Market Report 2024-2032

The global carbon fiber reinforced plastic (CFRP) market size reached US$ 20.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.9% during 2024-2032. They are also manufactured through various other processes, such as layup, pultrusion and winding, compression and injection.

#CarbonFiberReinforcedPlasticMarket #marketreport #marketanalysis #imarcgroup

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legendarypersonconnoisseur · 11 months ago

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vijay34 · 2 months ago

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CFRP Market Growth Driven by Rising Demand in Aerospace and Automotive Sectors

Rising Demand for Lightweight and High-Strength Materials Fuels Growth in the Carbon Fiber Reinforced Plastics (CFRP) Market.

The Carbon Fiber Reinforced Plastics Market Size was valued at USD 17.10 Billion in 2023 & will reach USD 32.80 Bn by 2032 & grow at a CAGR of 7.6% over the forecast period of 2024-2032.

The Carbon Fiber Reinforced Plastics (CFRP) Market is experiencing robust growth due to the increasing demand for lightweight, high-strength, and corrosion-resistant materials across various industries. CFRP materials offer superior mechanical properties, excellent durability, and enhanced fuel efficiency, making them highly sought after in aerospace, automotive, wind energy, sports equipment, and industrial applications. The growing emphasis on fuel efficiency and emission reduction has further accelerated the adoption of CFRP composites.

Key Players in the CFRP Market

DowAksa (DowAksa Torayca Carbon Fiber Prepreg, DowAksa ZOLAMID)

Cytec Solvay Group (Cytec MTM50 Carbon Fiber Prepreg, Cytec Hexcel Composites)

Toray Industries, Inc. (Torayca Carbon Fiber Prepreg, Toray Tenax Carbon Fiber)

SGL Group (SGL Carbon Fiber Prepreg, SGL Carbon Fiber Reinforced Composites)

Hexcel Corporation (Hexcel HexPly Carbon Fiber Prepreg, Hexcel IM7 Carbon Fiber)

Teijin Limited (Teijin T800 Carbon Fiber, Teijin Carbon Fiber Reinforced Composites)

Mitsubishi Rayon Co., Ltd. (Mitsubishi Rayon Carbon Fiber, Mitsubishi Rayon Carbon Fiber Reinforced Composites)

Hyosung Corporation (Hyosung Carbon Fiber, Hyosung Carbon Fiber Reinforced Composites)

Gurit Holding AG (Gurit GFRP Prepreg, Gurit Carbon Fiber Reinforced Composites)

Owens Corning (Owens Corning Carbon Fiber. Owens Corning Carbon Fiber Reinforced Composites)

Future Scope of the Market

The CFRP market is expected to witness significant growth driven by:

Increasing demand for lightweight materials in aerospace and automotive sectors.

Expanding applications in renewable energy, especially wind turbine blades.

Rising adoption in sports and recreational equipment for enhanced performance.

Advancements in CFRP recycling and sustainability solutions.

Ongoing research and development in high-performance CFRP composites.

Emerging Trends in the CFRP Market

The CFRP industry is rapidly evolving with advancements in material technology and manufacturing processes. The development of cost-effective and high-volume production techniques, such as automated fiber placement (AFP) and out-of-autoclave (OoA) curing, is driving mass adoption of CFRP in the automotive and industrial sectors. Additionally, the shift toward bio-based and recycled carbon fiber composites is gaining traction, aligning with global sustainability goals. The use of CFRP in electric vehicles (EVs) and urban air mobility (UAM) solutions is also expected to expand, further propelling market growth.

Key Points:

Growing demand for lightweight, high-strength materials across industries.

Aerospace, automotive, and wind energy sectors driving market expansion.

Advancements in CFRP manufacturing technologies reducing production costs.

Increasing focus on sustainability and CFRP recycling solutions.

Expanding applications in electric vehicles and next-generation mobility.

Conclusion

The Carbon Fiber Reinforced Plastics (CFRP) Market is poised for steady growth, driven by technological advancements, sustainability initiatives, and increasing demand for high-performance materials. As industries continue to seek lightweight, durable, and fuel-efficient solutions, CFRP will remain a key material in shaping the future of transportation, renewable energy, and high-performance applications.

Read Full Report: https://www.snsinsider.com/reports/carbon-fiber-reinforced-plastics-market-4916

Jagney Dave — Vice President of Client Engagement

Phone: +1–315 636 4242 (US) | +44- 20 3290 5010 (UK)

#Carbon Fiber Reinforced Plastics (CFRP) Market #Carbon Fiber Reinforced Plastics (CFRP) Market Size #Carbon Fiber Reinforced Plastics (CFRP) Market Share #Carbon Fiber Reinforced Plastics (CFRP) Market Report #Carbon Fiber Reinforced Plastics (CFRP) Market Forecast

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bhavnadbmr · 5 months ago

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trendingreportz · 1 year ago

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Carbon Fiber Reinforced Plastic Market - Forecast(2024 - 2030)

Carbon Fiber Reinforced Plastic Market Overview:

Carbon fiber reinforced plastic market size is forecast to reach $30.5 billion by 2030, after growing at a CAGR of 9.41% during 2024-2030, owing to the increasing adoption of carbon fiber reinforced plastics over conventional metallic alloys in various end-use industries such as automotive, aerospace, wind energy, and others. This is mainly due to the tensile strength carried by CFRP, which falls between 1500 and 3500 MPa, whereas its metallic counterparts such as aluminum and steel only possess tensile strength of 450–600 MPa and 750–1500 MPa, respectively. Growing demand from the aerospace industry and a rising preference for fuel-efficient and lightweight vehicles are the major factors driving the carbon fiber reinforced plastic (CFRP) market during the forecast period

Report Coverage

The report: “Carbon Fiber Reinforced Plastic (CFRP) Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the carbon fiber reinforced plastic (CFRP) Industry.

By Type: Thermoplastic (Polyether Ether Ketone (PEEK), Polypropylene, Nylon, Acrylic Resins, Polyamide Resins, PET, Polyphenylene Sulfide (PPS), Polyethylene, Polyurethane, Polyethersulfone, Polyetherimide (PEI), and Others), and Thermosetting (Epoxy Resin, Polyester Resin, Vinyl Ester Resin, Phenolic, Polyimide Resins, and Others)

By Application: Automobiles, Industrial, Aviation & Aerospace, Marine, Defense, Electrical & Electronics, Medical, Sports Equipment, Wind Energy, Civil Engineering, and Others

By Geography: Americas, Europe, Asia Pacific, RoW

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Key Takeaways

Europe dominates the carbon fiber reinforced plastic (CFRP) market, owing to the increasing demand and production of lightweight vehicles in the region. According to OICA, in 2018 the production of light commercial vehicles has increased by 2.5 % in Europe.

The carbon fiber reinforced plastics are being widely used to manufacture sport equipment such as golf shafts, bicycles, skis, surfboards, helmets, racquets, hockey sticks, baseball bats and several other products. Its low maintenance cost and corrosion resistance properties are the major factor driving the market in the sports sector.

The properties associated with CFRP such as good conductivity, flame resistance, high strength and vibration damping has facilitated their inclusion in several electrical and electronic products such as household appliances, audio systems, enclosures, electrical installations, interconnects, brushes and EMI shielding.

The X-Ray permeability, biological inertness coupled with high strength has paved the way for CFRP applications in Medical sector. Imaging equipment, orthopedics and surgical outfits are some of the common medical devices that employ CFRP.

Due to the COVID-19 Pandemic most of the countries has gone under lockdown, due to which operations of various industries such as automotive, defense, and aerospace has been negatively affected, which is hampering the carbon fiber reinforced plastic (CFRP) market growth.

By Type – Segment Analysis

The thermosetting segment held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019, owing to the superior characteristics of thermosetting CFRP over thermoplastic CFRP. Unlike thermoplastics, they retain their strength and shape even when heated. This makes thermosetting plastics well-suited to the production of permanent components and large, solid shapes. Furthermore, these components have outstanding high strength-to-weight ratio performance, enhanced dielectric strength, low thermal conductivity. Thus, thermoset CFRP find their use in varied applications owing to their heat resistant characteristics, excellent dimensional and chemical stability properties when exposed to high heat and more.

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By Application – Segment Analysis

The defense application held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019 and is growing at a CAGR of 9.42%, owing to its ability to reduce a weight of an object to a large extent while providing superior strength. Thus, there is an increasing demand of carbon fiber reinforced plastics from the defense industries to manufacture specialty components for missile systems, radar panels, body armors, helmets, rocket motor casing, artificial limbs, ballistics, nuclear submarine, propulsion systems and many more. Some of the materials used in military composites include Kevlar, fiberglass and carbon fiber. Countries like Russia, India and Japan are increasingly using composites in submarines, jets, sonar domes and truck components. U.S., U.K., India, and China are the major spenders on defense equipment and maintenance of army. M80 Stileto is the largest U.S. naval vessel built using carbon-fiber composites. Armored vehicles have conventionally used steel armor for protection; however, weight of these large trucks creates logistical problems. Therefore, the adoption of CFRP is increasing in these vehicles. U.S. DOD aims to replace UH-60 Black Hawk with Bell Helicopter’s V-280 which incorporates carbon fibers in its wings, fuselage, and tail. The need for agility at the time of sudden attacks and upgrading the defense technologies has led to the shift from conventional materials to fiber reinforced materials, which is anticipated to propel the carbon fiber reinforced plastic market during the forecast period.

By Geography – Segment Analysis

Europe region held the largest share in the carbon fiber reinforced plastic (CFRP) market in 2019 up to 34%, owing to the increasing defense, and aerospace sectors in the region. The CFRP are particularly attractive to defense applications because of their exceptional strength, better stiffness-to-density ratios and superior physical properties. Also, CFRP provides relatively stronger and stiffer fibers in a tough resin matrix. According to International Trade Administration (ITA), the Norwegian Government presented a core defense spending budget of USD 6.9 billion in 2019. The Norwegian defense budget accounted for 1.62% of Norway’s GDP in 2018. French civil aerospace industry in 2018 grew to €50.36 billion, out of total non-consolidated aerospace and defense aerospace revenues of €65.4 billion. This is a 1.2% increase over 2017. Also, France has put forth an agreement with the U.K government of $2.1 billion to build a prototype combat drone, which will further boost CFRP market growth. Thus, the increasing aerospace and defense industry in Europe is likely to influence the growth of the carbon fiber reinforced plastic market in Europe.

Drivers – Carbon Fiber Reinforced Plastic (CFRP) Market

Growing Wind Power Sector

As a consequence of drastic increase in energy demand, the conventional sources of energy are depleting very fast. Hence, the need to expand and utilize the renewable energy sources like wind power is growing. The wind power sector is increasing, as use of renewable energy sources results in less emission of greenhouse and other harmful gases such as SO2. The modern wind turbine are being increasingly used in wind power sector as they are cost-effective, more reliable and have scaled up in size to multi-megawatt power ratings. Wind Energy installations in APAC increased by 23.6%. This region is set to witness high growth for wind energy equipment and materials majorly driven by commitments of government of India and China towards green energy. Carbon fiber reinforced plastic is used primarily in the spar, or structural element, of wind blades longer than 45m/148 ft, both for land-based and offshore systems. Carbon fiber has known benefits for reducing wind turbine blade mass due to the significantly improved stiffness, strength, and fatigue resistance per unit mass compared to fiberglass. Due to the increasing adoption of wind power energy source, the demand for the carbon fiber reinforced plastic is also increasing, which acts as a driver for the carbon fiber reinforced plastic market during the forecast period.

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Stringent Government Regulation on Emission

Carbon fiber reinforced plastics are being extensively used in the automotive industries to reduce fuel consumption as well as emissions and to manufacture lightweight vehicles. Several governments across the world have imposed stringent standard emission and fuel economy regulations for vehicles. These standard regulations have compelled automotive OEMs to increase the use of lightweight materials such as carbon fiber reinforced plastics to assist in increasing the fuel economy of a vehicle while ensuring safety and performance. The emission regulation for light-duty cars such as Corporate Average Fuel Economy (CAFÉ) and Greenhouse Gas Emission standards sets fuel consumption standards for the vehicles. These regulations by the governments have made sure that the car manufacture henceforth might need to be manufacturing much lighter vehicles to obey as per these norms, which acts as a driver for the carbon fiber reinforced plastic market during the forecast period.

Challenges – Carbon Fiber Reinforced Plastic (CFRP) Market

High Cost of Carbon Fiber Reinforced Plastics

The cost of the carbon fiber reinforced plastics is at times supposedly higher. When compared with other traditional materials such as steel and aluminum, lightweight materials such as carbon fiber reinforced plastics (CFRP) and glass fiber reinforced plastics (GFRP) are costly. Composites of carbon fiber cost almost 1.5 to five times more than steel. High cost of fiber production inhibits large volume deployment. Therefore, precursor and processing costs need to be reduced. The high price of carbon fibers in many applications constrains the potential use of composites. Hence, the high cost of carbon fiber reinforced plastics may hinder with the carbon fiber reinforced plastics market growth during the forecast period. However, cost effective production methods coupled with high volume processing, assembly techniques and automation processes will lead to reduction of price in the near future.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the carbon fiber reinforced plastic (CFRP) market. In 2019, the market of carbon fiber reinforced plastic (CFRP) has been consolidated by the top five players accounting for 40% of the share. Major players in the carbon fiber reinforced plastic (CFRP) market are SGL Carbon SE, Teijin Ltd., Toray Industries Inc., Cytec Industries Inc., Mitsubishi Rayon Co. Ltd., Farmosa Plastics Corporation, Nippon Carbon Co. Ltd., DowAksa Advanced Composites Holdings BV, Hexcel Corporation, and Hyosung Advanced Materials.

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Acquisitions/Technology Launches

In May 2016, Dowaska, Under secretariat of Defense Industries (SSM) and Turkish Aerospace Industries (TAI) have jointly opened The DowAksa Global Composites Center with an objective to advance Turkey’s carbon fiber and other reinforcement composites manufacturing mainly for aerospace applications in both defense and commercial aviation and the infrastructure, marine, wind energy and transportation sector.

In March 2018, Toray Industries, Inc. developed a new fabrication technology for Carbon Fiber Reinforced Plastics that enables both improved dimensional accuracy and energy savings.

In November 2018, Toray Industries, Inc. developed new carbon fibers that realized both higher tensile strength and tensile modulus named “TORAYCA® MX series”.

In September 2019, Teijin Limited acquired Benet Automotive, a leading automotive composite and component supplier in the Czech Republic. The acquisition benefits Teijin’s composite technologies business.

In December 2019, SGL Carbon and Solvay entered into a joint development agreement to develop composite materials based on large-tow intermediate modulus carbon fiber for aerospace primary structures.

In May 2020, Toray Industries, Inc. developed a high tensile modulus carbon fiber and thermoplastic pellets that are ideal for injection molding employing. Toray announced to push ahead with research and development to commercialize the fiber and pellets within the next three years.

#Carbon Fiber Reinforced Plastic Market #Carbon Fiber Reinforced Plastic Market Share #Carbon Fiber Reinforced Plastic Market Size #Carbon Fiber Reinforced Plastic Market Forecast #Carbon Fiber Reinforced Plastic Market Report #Carbon Fiber Reinforced Plastic Market Growth

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communicationblogs · 8 months ago

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Aerospace And Defense Materials Market — Industry Analysis, Market Size, Share, Trends, Growth And Forecast 2024–2030

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sangamswami · 1 year ago

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Strategic Analysis: Market Size and Share of Aircraft Insulation in 2024

The Aircraft Insulation Market is experiencing significant growth, with market statistics indicating a value of USD 5.5 billion in 2021 and a projected increase to USD 8.2 billion by 2026, reflecting a noteworthy CAGR of 8.3% during the forecast period. Several factors are driving this growth, including the demand for lightweight materials, advancements in acoustic and fire-resistant materials enhancing aircraft safety, declining costs of composite materials, and the increasing demand for military helicopters.

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The demand for lightweight insulation materials is rising, driven by the use of composite materials in aerostructures. Advanced composite materials such as Polymer Matrix Composites (PMCs) and Metal Matrix Composites (MMCs) offer high strength, flexibility, and corrosion resistance, contributing to their increased adoption in aircraft insulation.

The demand for composite materials in general aviation and business jets is growing, driven by increasing disposable income and corporate aviation activities. Composite materials like Carbon Fiber Reinforced Polymer (CFRP) are being adopted to reduce cabin noise and enhance passenger comfort, presenting opportunities for insulation material suppliers.

Foamed plastics, used for thermal and acoustic insulation in cabin interiors, are projected to witness a higher CAGR during the forecast period. Plastic foams such as polyimide and polyurethane are widely utilized in aircraft cabin linings and wall panels, contributing to market growth.

The airframe segment, encompassing aircraft wings, fuselage, and flight control surfaces, is expected to witness the highest CAGR. Lightweight composite materials are increasingly used in airframe construction, driving the demand for insulation materials.

North America is anticipated to contribute the largest share to the aircraft insulation market, with the US and Canada being key contributors. The region boasts a significant number of OEMs and MRO companies, substantial aircraft deliveries, and high defense spending, fostering market growth.

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Major companies dominating the aircraft insulation market include DuPont, BASF SE, Safran Group, Rogers Corporation, Morgan Advanced Materials, Triumph Group, Inc., Transdigm Group, Inc., and Zotefoams. These players are driving innovation and market expansion through technological advancements and strategic initiatives.Top of Form

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globalinsightsservices · 1 year ago

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Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market Upcoming Trends Analysis 2023-2033

Market Definition

Carbon fiber reinforced plastics (CFRP) are a composite material made up of a polymer matrix and carbon fibers. Carbon fibers are extremely strong and lightweight materials that can be used to reinforce various polymers, such as polyesters, epoxy resins, and polyamides. CFRP is used in a wide variety of applications, from aerospace and automotive components to sporting goods and medical devices.

The carbon fibers are made from a variety of sources, such as rayon, polyacrylonitrile (PAN), and pitch-based fibers. The fibers are then formed into a yarn or fabric and then impregnated with a resin, such as epoxy or polyester. This forms a composite material that is then used to form components.

Market Outlook

Carbon fibers and carbon fiber reinforced plastics (CFRP) are increasingly being used in a wide range of industries, from aerospace to automotive and from medical to military. This is due to their unique properties, which include high strength, low weight, and excellent resistance to corrosion and fatigue. The market for these materials is growing rapidly, and there are several key trends driving this growth.

1. Increasing Demand for Lightweight Materials: As the demand for lighter and more fuel-efficient vehicles increases, so does the demand for lightweight materials such as carbon fibers and CFRP.

2. Cost Reduction: The cost of carbon fibers and CFRP has been steadily declining over the years, making them more cost-effective for a variety of applications.

3. Improved Performance: The performance of carbon fibers and CFRP has been steadily improving over the years, due to the development of new production processes and the introduction of new additives and modifiers.

Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) are two of the most important materials used in modern-day engineering and manufacturing. They are used in a variety of industries including aerospace, automotive, and sporting goods.

Technological advances in Carbon Fibers and Carbon Fiber Reinforced Plastics have enabled the materials to be used in a wider range of applications. Carbon fibers are strong, lightweight, and can be formed into complex shapes.

Cost efficiency is another major driver of the Carbon Fibers and Carbon Fiber Reinforced Plastics Market. Carbon fibers and Carbon Fiber Reinforced Plastics are much lighter than traditional materials, which helps to reduce the overall cost of manufacturing. Additionally, Carbon Fibers and Carbon Fiber Reinforced Plastics are more durable and require less maintenance, which helps to reduce costs in the long run.

Finally, environmental sustainability is another key driver of the Carbon Fibers and Carbon Fiber Reinforced Plastics Market. Carbon Fibers and Carbon Fiber Reinforced Plastics are made from renewable resources, and they have a much lower carbon footprint than traditional materials.

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Research Objectives

Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region

Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling

Identify factors influencing market growth and challenges, opportunities, drivers and restraints

Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates

Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities

Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market

To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.

Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives

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Market Segmentation

The carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) market is segmented by type, end-use, application, and region. By type, the market is divided into PAN-based, pitch-based, and rayon-based. By end use, the market is bifurcated into automotive, wind energy, sporting goods, Marine electronics, and others. By application, the market is divided into aircraft components, automotive parts, wind turbine blades, and others. By region, the market is classified into North America, Europe, Asia-Pacific, and the rest of the world.

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Major Players

The global carbon fibers (CF) and carbon fiber reinforced plastics (CFRP) Market report includes players like Toray Industries, Inc. – Japan, Teijin Limited – Japan, Mitsubishi Chemical Holdings Corporation – Japan, SGL Carbon SE – Germany, Hexcel Corporation – United States, Solvay SA – Belgium, Nippon Graphite Fiber Corporation – Japan, Formosa Plastics Corporation – Taiwan, Hyosung Advanced Materials Corporation – South Korea, and Cytec Solvay Group (now part of Solvay SA) – United States

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Research Scope

Scope – Highlights, Trends, Insights. Attractiveness, Forecast

Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others

Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain

Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments

Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis

Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis

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In-depth segmentation which can be customized as per your requirements

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#Carbon Fibers (CF) and Carbon Fiber Reinforced Plastics (CFRP) Market

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juliamark · 1 year ago

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Revolutionizing Industries: The Carbon Fiber Market Unveils Unprecedented Growth and Key Segments Forecast 2023-2032

The global carbon fiber market is experiencing a paradigm shift, marking an era of innovation, sustainability, and exceptional market growth. As industries increasingly embrace lightweight, high-strength materials, carbon fiber has emerged as the frontrunner, redefining the landscape of various sectors.

Report Sample:

Trends Reshaping the Carbon Fiber Market:

Sustainable Manufacturing: The carbon fiber market is witnessing a surge in demand for sustainably produced materials. Manufacturers are actively adopting eco-friendly processes, ensuring that carbon fiber production aligns with global environmental goals. This trend not only meets the growing demand for green products but also positions carbon fiber as a responsible and future-ready choice.

Advancements in Composite Technologies: Carbon fiber's integration with advanced composite technologies is propelling its adoption across industries. Innovations in resin systems, matrix materials, and manufacturing techniques are enhancing the overall performance of carbon fiber composites, making them versatile and suitable for diverse applications.

Aerospace Industry Dominance: The aerospace sector continues to be a key driver of carbon fiber market growth. The material's unmatched strength-to-weight ratio is revolutionizing aircraft design, leading to fuel efficiency, reduced emissions, and increased payload capacities. The aerospace industry's increasing reliance on carbon fiber reinforces its position as a cornerstone in the market.

Key Segments Redefining Possibilities:

Automotive Applications: Carbon fiber is rapidly gaining ground in the automotive industry, particularly in high-performance vehicles. The market is witnessing a surge in the use of carbon fiber-reinforced plastics (CFRP) for components such as body panels, chassis, and interiors. As automakers strive for lightweighting and improved fuel efficiency, carbon fiber becomes a game-changer.

Renewable Energy Infrastructure: The renewable energy sector is embracing carbon fiber for wind turbine blades and other critical components. The material's durability, corrosion resistance, and lightweight properties make it an ideal choice for enhancing the efficiency and lifespan of renewable energy infrastructure.

Medical Advancements: In the medical field, carbon fiber is finding applications in prosthetics, orthopedic devices, and medical imaging equipment. The material's biocompatibility and strength make it an attractive option for creating innovative solutions that enhance patient care and mobility.

Market Growth Projections:

The global carbon fiber market is poised for robust growth, with a CAGR expected to surpass previous estimates. The increasing demand for lightweight materials, coupled with advancements in manufacturing technologies, positions carbon fiber as a key player in shaping the future of numerous industries.

Industry leaders, stakeholders, and investors are urged to stay attuned to the dynamic developments within the carbon fiber market, as it continues to evolve and drive transformative changes across sectors.

Discount:

Keyplayers.

The global carbon fiber market profiles leading players that include DowAksa Advanced Composites Holding B.V, Formosa Europe, Solvay, TORAY INDUSTRIES, INC., Nippon Steel Corporation, Mitsubishi Chemical Group Corporation, SGL Carbon, Hyosung Co Public, Teijin Limited, and ZOLTEK. The global carbon fiber market report provides in-depth competitive analysis as well as profiles of these major players.

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Disclaimer:

This press release contains forward-looking statements, which are subject to various risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements. [Your Company Name] disclaims any obligation to update or revise any forward-looking statements in response to new information, future events, or changes in circumstances.

#Carbon Fiber Market Trends

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pravalika · 2 years ago

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Carbon Fiber Reinforced Plastic Market - Forecast (2023 - 2028)

Carbon fiber reinforced plastic market size is forecast to reach $22.50 billion by 2025, after growing at a CAGR of 9.41% during 2020-2025, owing to the increasing adoption of carbon fiber reinforced plastics over conventional metallic alloys in various end use industries such as automotive, aerospace, wind energy, and others. This is mainly due to tensile strength carried by CFRP, which falls between 1500 and 3500 MPa, whereas its metallic counterparts such as aluminum and steel only possess tensile strength of 450–600 MPa and 750–1500 MPa, respectively. Growing demand from the aerospace industry and a rising preference for fuel efficient and light-weight vehicles are the major factors driving the carbon fiber reinforced plastic (CFRP) market during the forecast period.

Report Coverage

By Application: Automobiles, Industrial, Aviation & Aerospace, Marine, Defense, Electrical & Electronics, Medical, Sports Equipment, Wind Energy, Civil Engineering, and Others

By Geography: Americas, Europe, Asia Pacific, RoW

Key Takeaways

By Type – Segment Analysis

By Application – Segment Analysis

By Geography – Segment Analysis

Drivers – Carbon Fiber Reinforced Plastic (CFRP) Market

Growing Wind Power Sector

Stringent Government Regulation on Emission

Challenges – Carbon Fiber Reinforced Plastic (CFRP) Market

High Cost of Carbon Fiber Reinforced Plastics

#Carbon Fiber Reinforced Plastic Market #Carbon Fiber Reinforced Plastic Market Size #Carbon Fiber Reinforced Plastic Market Trends #Carbon Fiber Reinforced Plastic Market Forecast #Carbon Fiber Reinforced Plastic Market Growth

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