Carbon Composites Market size is forecast to reach $8.79 billion by 2025, after growing at a CAGR of 11.0% during 2020-2025. Carbon composites consist of carbon fibers embedded in a carbonaceous matrix. Carbon Carbon Composites are those special composites in which both the reinforcing fibers and the matrix material are both pure carbon. The carbon composites have a higher stiffness-to-weight ratio rather than other conventional materials due to which they are widely used in various applications of aerospace & defense.

Key Takeaways
Europe dominates the carbon composites market owing to increasing demand from applications such as automotive and aerospace & defense industries.

Increasing usage of carbon composites in aircraft, coupled with the increasing number of aircraft launched in the market, annually, is expected to provide a huge growth opportunity for the carbon composites market in the aerospace industry in the forecast period.

Applications of carbon composites in wind energy sector is likely to become an opportunity in the future.

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Geography- Segment Analysis

Europe dominated the carbon composites market with a share of more than 41%, followed by North America and Asia Pacific in 2019. Germany leads the European automotive market, with 41 assembly and engine production plants, which contribute to one-third of the total automobile production in Europe. The aerospace industry of Germany consists of more than 2,300 firms located all around the country, with northern Germany being the area with a higher concentration of firms. Germany is one of the leading manufacturing bases for the aircraft industry and is home to manufacturers from different segments, such as material and component suppliers, equipment manufacturers, engine producers, and whole system integrators. Due to growing automotive and aerospace industries in this region, the carbon composites market is expected to grow during the forecast period.

Drivers – Carbon Composites Market
Increasing applications of carbon composites in aircrafts
Boeing and Airbus have a projected demand for nearly 9,000 new wide-bodied aircraft over the next 20 years. Single-aisle aircrafts are expected to fulfill around 70% of the future commercial aircraft demand. With the retirement of A30 aircraft production, all the players in the entire aerospace production value chain are looking for the future.

Market Landscape: Major players in the carbon composites market are Toray Industries Inc., SGL Group, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., Teijin Limited, Formosa Plastics Corporation, Solvay, Jiangsu Hengshen Co. Ltd., Hyosung and DowAksa among others.

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