Growth Opportunities for Fibers in the Composites Market

Carbon Fiber to Experience Transformational Growth as Material Prices Decrease and Demand for Carbon Neutral Products Increases

This study presents an assessment of the fibers for composites market in 2022 and evaluates future prospects, including discussion of the different tiers of the value chain as well as volume and revenue estimates.

The market segments covered include carbon fiber (CF), glass fiber (GF), and natural fiber (NF). The subsegments include the following:

• End-use application: automotive, aerospace, construction (including renewable energy infrastructure), industrial, and others (consumer goods, marine, electricals, and electronics).
• Matrix: thermosets (polymer), thermoplastics (also polymer), and others (ceramic, metal, and concrete).
• Process: thermoplastic molding (injection molding, extrusion, and pultrusion); layup; resin transfer molding (RTM); other thermoset processes (injection molding, extrusion and pultrusion, drape forming, automated fiber placement, laminates, and prepregs); and others (thermoplastic laminates and prepregs)

The study is segmented into four regions:

• The Americas includes the United States, Canada, and LATAM (including Mexico).
• Europe includes all European Economic Area and European Free Trade Association states (including the United Kingdom), Commonwealth of Independent States (including Ukraine), and Israel.
• MEASA includes Africa, all Middle Eastern countries (including Türkiye), and all South Asian countries (India, Pakistan, Bangladesh, Sri Lanka, and Nepal).
• APAC includes China, Japan, South Korea, the Association of Southeast Asian Nations Free Trade Area, Australia, New Zealand, and all other Southeast Asian states.

The study discusses volume and revenue forecasts for each segment and subsegment from 2019 to 2029. The analysis focuses on the primary regions and competitive environment at the subsegment level but includes competitive structure (CF and GF) and market share data at the overall level. The study also provides a 7-year forecast based on expected compound annual growth rates, in which the base year is 2022 and the forecast period is 2023 to 2029.

Key market participants and a discussion of the critical competitive factors for achieving organic growth and to gain a solid foothold in the market are discussed. The current size of the fibers for composites market is assessed in consideration of factors such as carbon neutrality; legislative and consumer drivers; material substitution potential; and shifting political, socio-economic, regulatory, environmental, raw material, and technology trends. These factors, classified as growth drivers and restraints, are considered in the forecast analysis. The study analyzes the role wind energy in the increasing demand for composites, in turn driving growth in the fibers space. Moreover, the study offers an in-depth scenario for the substitution potential of composites to replace metals in structural applications. The analysis concludes with discussion of the top growth opportunities for fiber manufacturers during the forecast period.