The global continuous fiber composites market size reached US$ 2.7 Billion in 2023. Looking forward, the market is projected to reach US$ 4.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.58% during 2023-2032. The rapid utilization of continuous fiber composite in wind turbines, the growing adoption of lightweight components in the manufacturing of vehicles, and the rising stringency of government regulations regarding sustainable development represent some of the key factors driving the market.
Continuous fiber composites refer to materials consisting of continuous fibers bonded to a matrix that offers exceptional stiffness and lightweight properties. With its combination of fibers, resins, and core materials, it is one of the most versatile materials available. It can be continuous, chopped or milled in form, and is composed of glass, carbon, or aramid fibers. Depending on the application requirements, including strength, cost, geometry, and complexity, they can be developed from either a thermoset or thermoplastic matrix.
Their high strength-to-weight ratio, ease of processing, freedom of form, and recyclable nature make them an excellent choice for numerous industrial applications. Composites with continuous fibers have numerous advantages, including excellent corrosion and creep resistance, low maintenance costs, and lightweight construction. Consequently, these composite materials are used in a variety of industries, such as automotive, aerospace, electronics, sports and leisure, consumer electronics, and construction.
Besides this, the augmenting demand for non-toxic substitutes for asbestos-based friction products across numerous end-use industries, such as construction, aerospace and marine sectors, is also creating a positive market outlook. The market is further driven by the increasing usage of these composites in industrial manufacturing processes, including cold forming operations, stress corrosion cracking (SCR) processes and metal fastening applications.
Apart from this, the rising popularity of electrical resistivity materials and flame retardants in the electronics and electrical industry is resulting in a higher product uptake on the global level. Some of the other factors contributing to the market include continual product innovations, such as rapid cure resin systems and cost-effective carbon and glass fibers, rapid industrialization, and extensive research and development (R&D) activities conducted by the key players.
2. What is the expected growth rate of the global continuous fiber composites market during 2024-2032?
3. What are the key factors driving the global continuous fiber composites market?
4. What has been the impact of COVID-19 on the global continuous fiber composites market?
5. What is the breakup of the global continuous fiber composites market based on the resin type?
6. What is the breakup of the global continuous fiber composites market based on the product type?
7. What is the breakup of the global continuous fiber composites market based on the reinforcement type?
8. What is the breakup of the global continuous fiber composites market based on the industry vertical?
9. What are the key regions in the global continuous fiber composites market?
10. Who are the key players/companies in the global continuous fiber composites market?
Continuous fiber composites refer to materials consisting of continuous fibers bonded to a matrix that offers exceptional stiffness and lightweight properties. With its combination of fibers, resins, and core materials, it is one of the most versatile materials available. It can be continuous, chopped or milled in form, and is composed of glass, carbon, or aramid fibers. Depending on the application requirements, including strength, cost, geometry, and complexity, they can be developed from either a thermoset or thermoplastic matrix.
Their high strength-to-weight ratio, ease of processing, freedom of form, and recyclable nature make them an excellent choice for numerous industrial applications. Composites with continuous fibers have numerous advantages, including excellent corrosion and creep resistance, low maintenance costs, and lightweight construction. Consequently, these composite materials are used in a variety of industries, such as automotive, aerospace, electronics, sports and leisure, consumer electronics, and construction.
Continuous Fiber Composites Market Trends
The rapid utilization of continuous fiber composite in blades, nacelles, and smaller components of wind turbines is a significant factor driving the growth of the market. This can be attributed to the escalating demand for clean energy resources from the energy sector. In addition to this, the growing adoption of lightweight components for the manufacturing of vehicles, particularly electric vehicles (EVs), is propelling the market. Moreover, an enhanced focus on carbon emission control is providing an impetus to the market.Besides this, the augmenting demand for non-toxic substitutes for asbestos-based friction products across numerous end-use industries, such as construction, aerospace and marine sectors, is also creating a positive market outlook. The market is further driven by the increasing usage of these composites in industrial manufacturing processes, including cold forming operations, stress corrosion cracking (SCR) processes and metal fastening applications.
Apart from this, the rising popularity of electrical resistivity materials and flame retardants in the electronics and electrical industry is resulting in a higher product uptake on the global level. Some of the other factors contributing to the market include continual product innovations, such as rapid cure resin systems and cost-effective carbon and glass fibers, rapid industrialization, and extensive research and development (R&D) activities conducted by the key players.
Key Market Segmentation
This report provides an analysis of the key trends in each segment of the global continuous fiber composites market, along with forecasts at the global, regional, and country level from 2024-2032. The report has categorized the market based on resin type, product type, reinforcement type, and industry vertical.Resin Type Insights:
- Thermoset Composite Resins
- Thermoplastic Composite Resins
Product Type Insights:
- Woven Fabric
- Non-Crimp Fabric
- Unidirectional Tape
- Others
Reinforcement Type Insights:
- Glass Fiber Composites
- Carbon Fiber Composites
- Others
Industry Vertical Insights:
- Aerospace
- Automotive
- Power and Energy
- Sports and Leisure
- Consumer Electronics
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also provided a comprehensive analysis of the competitive landscape in the global continuous fiber composites market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Celanese Corporation, Chomarat Textiles Industries, Gurit Holding AG, Hexcel Corporation, Johns Manville Corporation, Lanxess AG, Owens Corning Corporation, Saertex GmbH & Co. KG, Solvay S.A, Toray Industries Inc, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report
1. How big is the global continuous fiber composites market?2. What is the expected growth rate of the global continuous fiber composites market during 2024-2032?
3. What are the key factors driving the global continuous fiber composites market?
4. What has been the impact of COVID-19 on the global continuous fiber composites market?
5. What is the breakup of the global continuous fiber composites market based on the resin type?
6. What is the breakup of the global continuous fiber composites market based on the product type?
7. What is the breakup of the global continuous fiber composites market based on the reinforcement type?
8. What is the breakup of the global continuous fiber composites market based on the industry vertical?
9. What are the key regions in the global continuous fiber composites market?
10. Who are the key players/companies in the global continuous fiber composites market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Continuous Fiber Composites Market
6 Market Breakup by Resin Type
7 Market Breakup by Product Type
8 Market Breakup by Reinforcement Type
9 Market Breakup by Industry Vertical
10 Market Breakup by Region
11 Drivers, Restraints, and Opportunities
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Celanese Corporation
- Chomarat Textiles Industries
- Gurit Holding AG
- Hexcel Corporation
- Johns Manville Corporation
- Lanxess AG
- Owens Corning Corporation
- Saertex GmbH & Co. KG
- Solvay S.A
- Toray Industries Inc
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 137 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.7 Billion |
| Forecasted Market Value ( USD | $ 4.4 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
