Product ID: SQMIG15E2145
Report ID:
SQMIG15E2145 |
Region:
Global |
Published Date: February, 2024
Pages:
221
|
Tables:
92 |
Figures:
76
European region is projected to hold the most substantial share in the market. The existence of a diverse range of electric vehicle producers, as well as rising demand for lightweight and fuel-efficient vehicles, are driving regional growth. Rapid growth in the aerospace and military industries is expected to boost regional market growth. Automakers are investing in R&D to develop low-cost carbon composite materials, which are boosting the region's automotive industry.
Due to the presence of a well-developed aviation sector, Germany's market may experience beneficial expansion. The Eurofighter and Airbus A320 families are both manufactured in Germany. The country is one of the top aircraft manufacturing bases, and it is primarily home to various businesses such as material and component suppliers, equipment manufacturers, entire system integrators, and engine manufacturers. In February 2019, for example, the German Aerospace Center developed a de-icing method for key places on aero planes using CF and electricity.
The growing need for lightweight composite materials in the aviation industry is expected to drive the size of the North American market. Airbus, United Airlines, Inc., The Boeing Company, and American Airlines Group Inc. are among the major players in the region. The increasing need for renewable resources has resulted in an increase in the installation and demand for wind farms in this region.
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REQUEST FREE CUSTOMIZATIONCarbon Fiber Market size was valued at USD 4.12 billion in 2019 and is poised to grow from USD 4.51 billion in 2023 to USD 9.27 billion by 2031, growing at a CAGR of 9.4% in the forecast period (2024-2031).
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Product ID: SQMIG15E2145