The global continuous fiber composites market size reached US$ 2.55 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.62 Billion by 2028, exhibiting a growth rate (CAGR) of 5.90% during 2023-2028. 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.
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:
IMARC Group 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 2023-2028. Our 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
The report has provided a detailed breakup and analysis of the continuous fiber composites market based on the resin type. This includes thermoset composite resins and thermoplastic composite resins. According to the report, thermoset composite resins represented the largest segment.
Product Type Insights:
- Woven Fabric
- Non-Crimp Fabric
- Unidirectional Tape
The report has provided a detailed breakup and analysis of the continuous fiber composites market based on the product type. This includes woven fabric, non-crimp fabric, unidirectional tape, and others. According to the report, woven fabric represented the largest segment.
Reinforcement Type Insights:
- Glass Fiber Composites
- Carbon Fiber Composites
The report has provided a detailed breakup and analysis of the continuous fiber composites market based on the reinforcement type. This includes glass fiber composites, carbon fiber composites, and others. According to the report, glass fiber composites represented the largest segment.
Industry Vertical Insights:
- Power and Energy
- Sports and Leisure
- Consumer Electronics
A detailed breakup and analysis of the continuous fiber composites market based on the industry vertical has also been provided in the report. This includes aerospace, automotive, power and energy, sports and leisure, and others. According to the report, aerospace accounted for the largest market share.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for continuous fiber composites. Some of the factors driving the North America continuous fiber composites market include the presence of several key players across the region, rapid industrialization, growing adoption of lightweight components for the manufacturing of vehicles, etc.
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.
|Base Year of the Analysis
|Resin Types Covered
||Thermoset Composite Resins, Thermoplastic Composite Resins
|Product Types Covered
||Woven Fabric, Non-Crimp Fabric, Unidirectional Tape, Others
|Reinforcement Types Covered
||Glass Fiber Composites, Carbon Fiber Composites, Others
|Industry Verticals Covered
||Aerospace, Automotive, Power and Energy, Sports and Leisure, Consumer Electronics, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the continuous fiber composites market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global continuous fiber composites market.
- The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the continuous fiber composites industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.