The Carbon Fiber Textiles Market is expected to reach a value of US$ 0.9 billion during 2021-2026, according to a report from Stratview Research.
COVID-19 pandemic – Boon or a Curse to the industry?
The outbreak of COVID-19 has severely impacted several industries across the world. Tough government measures such as lockdown of major economies, has pressed the ‘pause button’ for most of the industries. For most of the industries, the revenue has gone down in 2020 and has resumed an uptrend gradually from 2021.
Key insights on Carbon Fiber Textiles Market
Carbon Fiber Textiles is an extremely lightweight fiber derived from the element carbon. In the composites industry, there are several types of textiles used with glass fiber textiles and carbon fiber textiles being the major ones. On one side, glass fiber textiles have been efficacious in marking a greater presence in the cost-sensitive applications, on the other side, there has been an incessant increase in the penetration of carbon fiber textiles in high-performance applications, especially in the aerospace & defense and automotive industries. Stratview Research reckons that the market is expected to recoup in the next five years with a healthy CAGR to reach a value of US$ 0.9 billion in 2026.
All regions to mark significant declines in the demand in 2020, followed by a healthy recovery in the years to come. Among regions, Europe is expected to remain the dominant market during the forecast period, driven by higher use of carbon fibers in the form of textiles in the aerospace & defense and automotive industries. Asia-pacific is expected to log the highest growth over the same forecast period in the wake of the increased presence of carbon fiber stakeholders in the region.
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Market Scope & Market Segmentation
Woven Yarn is the Dominant Product Type
Based on the product type, the market is segmented into woven yarn and multi-axials. Woven yarn is expected to remain the most dominant product type in the market in years to come. Woven yarns dominate the automotive and aerospace & defense industries. Woven yarn offers a greater conformability and delivers a slight edge in strength owing to which it is frequently used for structural applications.
Aerospace & Defense is the Most Dominant End-Use Industry Type
Based on the end-use industry type, the market is segmented as aerospace & defense, transportation, consumer goods, wind energy, construction, and others. Aerospace & defense is expected to remain the largest market for carbon fiber textiles in years to come in terms of value. Carbon fiber textiles offer excellent rigidity, high strength-to-weight ratio, corrosion resistance, electrical conductivity, and fire-resistant properties, making them a preferred choice in the aerospace & defense industry. Furthermore, stringent emission norms in the aerospace & defense industry are fuelling the usage of lightweight yet high-performance materials. Wind energy is the only key segment, being least impacted by the pandemic, has experienced robust growth in 2020, unlike the aerospace and automotive industries that faced massive declines.
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Which key questions will this report answer?
This market research report focuses to deliver relevant information regarding the market trends, structure and growth during the forecast period of 2020-2025. It also offers insights into different market segments and other factors affecting the market.
Some of the key questions answered by the report are:
Stratview Research’s reports are generated after accumulating data from various authenticated sources. > 10 primary interviews with industry experts are conducted by us for every report. Insights gained from primary interviews, in-depth analysis of company statements and annual reports, accompanied by a number of articles, whitepapers, and reports help us to connect the dots and triangulate the market in the most effective manner.
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Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as Advanced Materials, Aerospace & Defense, Automotive & Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our market veterans make sure to have a deep research about the topics so that the most useful and authentic insights can be delivered to the professionals.