New York, June 15, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Aviation Carbon Fiber Global Market Report 2023" - https://www.reportlinker.com/p06466538/?utm_source=GNW
Ltd., Weihai Tuozhan Fibers Co. Ltd., Jiangsu Hengshen Co. Ltd., Mitsubishi Chemical Corporation, BASF SE, Bally Ribbon Mills, Park Aerospace Technologies Corp, and Renegade Materials Corporation.
The global aviation carbon fiber market is expected to grow from $2.26 billion in 2022 to $2.47 billion in 2023 at a compound annual growth rate (CAGR) of 9.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The aviation carbon fiber market is expected to reach $3.37 billion in 2027 at a CAGR of 8.1%.
The aviation carbon fiber market consists of sales of standard modulus carbon fiber, intermediate modulus carbon fiber, high modulus carbon fiber, and ultra-high modulus carbon fiber.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Aviation carbon fiber refers to the use of carbon fiber composites in the manufacturing of aircraft components. Carbon fiber is a type of advanced composite material that offers high strength, stiffness, and durability while being lightweight and fuel-efficient.
North America was the largest region in the aviation carbon fiber market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in aviation carbon fiber report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of aviation carbon fiber are continuous, long and short.Continuous carbon fibers are fibers that are spun from a single, continuous filament.
They are typically used in advanced applications such as aerospace because of their high strength and stiffness. The raw material types are pan-based carbon fiber and pitch-based carbon fiber, which are used in commercial aircraft, and military aircraft.
Growth in passenger air traffic is expected to propel the growth of the aviation carbon fiber market going forward.Passenger air traffic refers to an increase in the number of passengers traveling by air over time that can be measured in a variety of ways, including the number of passengers carried by airlines, the number of flights operated, and the revenue generated by the air travel industry.
Carbon fiber composites are being used in aircraft manufacturing due to their lightweight properties, high strength, and fuel efficiency, which offer improved passenger experiences such as more spacious and comfortable cabins. For instance, in February 2023, according to the International Air Transport Association (IATA), a Canada-based association of world airlines, international passenger traffic increased by 152.7% in 2022 compared to 2021. Additionally, Asia-Pacific airlines reported an increase of 363.3% in full-year international traffic in 2022 compared to 2021, maintaining the highest year-over-year rate among the regions. Therefore, the growth in passenger air traffic is driving the growth of the aviation carbon fiber market going forward.
Technological advancements are a key trend gaining popularity in the aviation carbon fiber market.Companies operating in the aviation carbon fiber market are adopting new technologies in the manufacturing of carbon fiber materials used in the aviation industry to sustain their position in the market.
For instance, in September 2020, Hexcel Corporation, a US-based industrial materials company, launched HexPEKK EM, a new carbon fiber material for 3D printing technology.HexPEKK EM is a high-performance thermoplastic carbon fiber composite material that offers improved impact resistance, durability, and strength-to-weight ratio compared to traditional carbon fiber materials.
Additionally, HexPEKK EM is able to withstand high temperatures and is resistant to chemicals, making it suitable for use in harsh environments. The material is designed specifically for use in aerospace applications, including aircraft interiors, engine components, and structural parts.
In January 2020, Mitsubishi Chemical Advanced Materials, a Switzerland-based manufacturing company, acquired c-m-p GmbH for an undisclosed amount. Through this acquisition, Mitsubishi aims to enhance its position in the carbon fiber composite material industry by expanding its carbon fiber manufacturing facilities in Europe, the USA, and Japan. c-m-p GmbH is a German company that specializes in the development and production of high-quality carbon fiber-reinforced plastics (CFRP) for various applications, including aviation.
The countries covered in the aviation carbon fiber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The aviation carbon fiber market research report is one of a series of new reports that provides aviation carbon fiber market statistics, including aviation carbon fiber industry global market size, regional shares, competitors with a aviation carbon fiber market share, detailed aviation carbon fiber market segments, market trends and opportunities, and any further data you may need to thrive in the aviation carbon fiber industry. This aviation carbon fiber market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06466538/?utm_source=GNW
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