Carbon Fiber is composed of carbon atoms that are bonded together to form a long chain having a diameter of 5-10 µm. The carbon atoms are bonded together in microscopic crystals that are mostly aligned parallel to the long axis of fiber. The crystal alignment makes the fiber incredibly strong for its size, which enables its several applications where high strength-weight ratio is required. Besides this, carbon fiber also shows several properties, such as excellent durability & impact resistance, high chemical resistance, low CTE (Coefficient of Thermal Expansion), X-ray transparency, low thermal and electrical conductivity, dampens sound by absorbing sound waves, and design flexibility.
Carbon Fiber Wrap is one of the form of applying Carbon Fiber. Global Carbon Fiber Wrap Market has witnessed a prospective growth in the past decade. Owing to the unique properties exhibited by carbon fiber, carbon fiber wrap has several applications in automobiles, consumer electronics, sports components, concrete structures, wind turbines, aerospace & defense, and others. Automobiles, consumer electronics, and sports components use carbon fiber wrap in the form of prepreg or sticker to modify the existing look while giving it a stylish new look. The rapid development in the sports industry has increased the demand for carbon fiber wrap, which has been a major driving factor. The automotive industry is considered the fastest growing application sector. Construction industry uses carbon fiber wraps to strengthen the concrete structure by simply wrapping the degraded parts with carbon fiber wraps by wet lay-up process. Carbon fiber wraps are a cost-effective and innovative solution for restoring the world’s infrastructure. Besides this, other end-user sectors such as wind energy, aerospace & defense, offshore are also taking advantage of the properties and design possibilities of carbon fiber wraps. However, a major restraint to the global carbon fiber wrap market is the high price of carbon fiber, and the long production cycle.
The global carbon fiber wrap market is segmented based on type of lay-up process, end-use industry, and region.
On the basis of the type of lay-up, the global carbon wrap market is segmented into wet carbon fiber lay-up and pre-impregnated carbon fiber lay-up
On the basis of the end-use industry, the global carbon fiber wrap market is segmented into automobile, consumer goods, construction, sports, aerospace & defense, wind energy, and others.
On the basis of the region, the global carbon fiber wrap market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa.
Source: MRFR Analysis
The global carbon fiber wrap market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Geographically, Europe emerged as the largest market for carbon fiber wrap in 2017, followed by Asia Pacific, Middle East, and North America. In Europe, carbon fiber wrap market is estimated to have steady growth on account of robust presence of automotive manufacturers, specifically in Italy, U.K., Germany, Spain, France, and Russia. Asia Pacific is estimated to witness healthy growth over the forecast period, during 2017 to 2027. The demand for carbon fiber wraps is estimated to raise in various economies of Asia Pacific such as China, India, Japan, Taiwan, Malaysia, Thailand, Singapore, Australia, and South Korea. The major market driver in Asia Pacific is the consumer preference of carbon fiber wrap-based automobiles parts, such as car hood, rear wing, car interiors, motorcycle, laptops, and mobiles, and sporting materials, such as golf shafts, racquets, skis, snowboards, hockey sticks, fishing rods, bats, and bicycles. Furthermore, rapid commercial construction activities to support the growing economies of developing countries provide a major boost to the carbon fiber wrap market. The North America carbon fiber wrap market is projected to witness above-average growth with a healthy CAGR over the assessment period due to the strong growth of aerospace industry along with increasing commercial construction activities in this region. In North America the market is further categorized into Canada and U.S, among which, the U.S accounted for more than half of the total regional market share of carbon fiber wrap on account of large defense budget along with high adoption rate from aerospace industry. Furthermore, various countries of Latin America and the Middle East & Africa are expected to witness above-average growth in carbon fiber wrap on account of increasing disposable income and increasing in sales of passenger cars, specifically in Brazil and Mexico as well as growing institutional, commercial, and residential construction activities in Saudi Arabia, Kuwait, Qatar, and UAE.Recent DevelopmentJan 2022 - One of three projects selected in the Carbon Fibre Challenge Phase II competition organized by Alberta Innovates and the Clean Resource Innovation Network is being led by the Department of Chemical and Petroleum Engineering at the University of Calgary's Schulich School of Engineering. The three-phase competition aims to speed up the development of carbon fiber made from Alberta's abundant oil sands bitumen, a black viscous mixture of hydrocarbons obtained naturally or as a leftover from petroleum distillation. The team wants to develop high-end carbon fibers that meet industry standards for usage in body components, wheels and rims, interior finishes, and other items in the automotive and airline industries.
|Market Size||2030: Significant value|
|CAGR||2022–2030: Substantial CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Type, End-Use Industry, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||3M, DowAksa, SGL Group – The Carbon Company, Cytec Solvay Group, AXEVINYL, Sika group, Metrorestyling.com, Grafityp UK Limited, Slickwraps, Inc., Rvinyl.com, Inc., Vartega Inc., Mitsubishi Chemical Carbon Fiber and Composites, Inc., and TORAY INDUSTRIES, INC.|
|Key Market Opportunities||A major restraint to the global carbon fiber wrap market is the high price of carbon fiber, and the long production cycle.|
|Key Market Drivers||
The type of lay-up studied for the carbon fiber wrap market are wet carbon fiber lay-up and pre-impregnated carbon fiber lay-up.
North America will dominate the carbon fiber wrap market.
The US will dominate the carbon fiber wrap market in North America.
The players mentioned in the carbon fiber wrap market are DowAksa, SGL Group – The Carbon Company, 3M, AXEVINYL, Mitsubishi Chemical Carbon Fiber and Composites, Inc., Cytec Solvay Group, Metrorestyling.com, Sika group, Slickwraps, Inc., Grafityp UK Limited, Vartega Inc., Rvinyl.com, Inc., and TORAY INDUSTRIES, INC.
The carbon fiber wrap market report includes industries like consumer electronics, aerospace & defense, automobiles, concrete structures, wind turbines, sports components, and others.