June 16, 2024
Carbon Strips Market

Carbon Strips Market is set to witness increasing demand driven by increasing Aerospace Applications

Carbon strips are thin sheets of carbon fibers that are processed to form into strips or tapes that have high tensile strength and rigidity. Carbon strips are lightweight and have excellent corrosion and heat resistance which makes them ideal for manufacturing aerospace components. The increasing demand for lightweight and high-performance materials from the aerospace industry is a major driver for the growth of carbon strips market. Carbon strips are used to manufacture various aircraft components such as brakes, control surfaces, engine cowlings and landing gear. They help reduce the overall weight of the aircraft while retaining high strength which translates to better fuel efficiency. Some key advantages of using carbon strips include high specific strength and rigidity, fatigue resistance, durability and ability to withstand high temperature and pressure.

The Global Carbon Strips Market Size is estimated to be valued at US$ 2.66 Bn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024-2031.

Key players operating in the Carbon Strips market are Toray Industries, Inc., Teijin Limited, Hexcel Corporation, SGL Carbon SE, Mitsubishi Chemical Corporation and Among Others.

Key Takeaways

– Key players operating in the Carbon Strips are Toray Industries, Inc., Teijin Limited, Hexcel Corporation, SGL Carbon SE, Mitsubishi Chemical Corporation and Among Others.
– Rising aircraft deliveries and increasing air passenger traffic globally is driving the demand for lightweight aircraft components like carbon strips from the aerospace industry.
– Major aircraft OEMs are focusing on developing new aircraft models that are more fuel efficient which is further propelling the demand for carbon strips.
– Leading carbon strip manufacturers are expanding their production facilities globally especially in Asia Pacific and North America to leverage the growing opportunities in those regions.

Market Key Trends

One of the key trends gaining traction in the carbon strips market is the development of products made from recycled carbon fiber. Given the increasing focus on sustainability, major carbon strip manufacturers are investing in developing recyclable carbon fiber reinforced polymer (CFRP) products using recycled pre-consumer and post-consumer carbon fibers. Recycled carbon fiber strips help reduce manufacturing costs and carbon footprint compared to virgin carbon fibers. Coupled with their comparable mechanical properties, recycled carbon fiber strips are anticipated to witness increasing adoption in the coming years.

Porter’s Analysis

Threat of new entrants: The carbon strips market requires high initial capital investment and R&D which makes the threat of new entrants moderate.

Bargaining Power Of Buyers: Buyers have moderate bargaining power due to the presence of various established manufacturers offering carbon strips.

Bargaining Power Of Suppliers: Suppliers have moderate bargaining power due to availability of variety of raw material sources used to manufacture carbon strips.

Threat of new substitutes: Substitute products like carbon fibers offer threat to carbon strips.

Competitive Rivalry: The market is moderately competitive due to presence of few global manufacturers and customized requirements of end users.

Geographical Regions with high market value concentration

North America dominates the global carbon strips market in terms of value, followed by Europe. This is majorly attributed to high demand for carbon strips from aerospace & defense industries in these regions. The presence of leading OEMs and tier players has further augmented the carbon strips market growth.

Fastest growing geographical region

Asia Pacific is expected to show fastest growth in the carbon strips market during the forecast period. Increasing industrialization and developing aerospace & defense sectors in countries such as China and India are driving the demand. Government initiatives to promote manufacturing is encouraging manufacturers to set up production facilities, thus benefitting the regional market.

What Are The Key Data Covered In This Carbon Strips Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Carbon Strips Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Carbon Strips Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Carbon Strips Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Carbon Strips Market vendors

FAQ’S

Q.1 What are the main factors influencing the Carbon Strips market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Carbon Strips Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Carbon Strips market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it