According to the recent study the carbon fiber textile market is projected to reach an estimated $1.5 billion by 2025 from $1.4 billion in 2019, at a CAGR of 0.6% from 2020 to 2025. Growth in this market is primarily driven by growing demand for lightweight and high performance composite materials in in transportation, marine, wind energy, aerospace/defense, and construction industries.
Browse 146 figures / charts and 100 tables in this 218 -page report to understand trends, opportunities and forecast in carbon fiber textile market by end use industry (aerospace & defense, transportation, wind energy, marine, construction, others), product type (woven, non-crimp), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Woven market is expected to remain the largest segment during the forecast period.”
Based on product type, the carbon fiber textile market is segmented into woven, and non-crimp. Lucintel forecasts that the woven market is expected to remain the largest segment due to its wide application area in transportation, aerospace/defense, and wind energy industries. The non-woven textile is expected to witness highest growth over the forecast period due to its better drapablity, optimization in component design, and de-lamination resistance.
“Within the carbon fiber textile market, the aerospace and defense segment is expected to remain the largest end use industry”
Based on end use industry the aerospace and defense segment is expected to witness the largest end use industry due to wider application area and high performance requirement. Transportation segment is expected to witness highest growth over the forecast period due to the increasing demand for lightweight materials.
“Europe will dominate the carbon fiber textile market in near future”
Europe is expected to be the largest region over the forecast period due to presence of leading carbon fiber composite component manufacturers. Rest of the World region is expected to witness the highest growth rate during the forecast period due to the expected increase in vehicle production and the growing use of lightweight composites components.
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Major players of carbon fiber textile market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Sigmatex, SGL, Seartex, Chomarat, Vectorply, and others are among the major Carbon fiber textile providers.
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