European aerospace carbon fiber market is estimated to grow significantly at a CAGR of around 8.1% during the forecast period. The factors that contribute to the growth of the market include significant growth in the aviation industry coupled with the growing demand for the lightweight vehicle in the aviation industry. As per the Aerospace and Defense Industries Association of Europe, the European aerospace and defense industry turnover was around $280 billion in 2018. More than half of the share (51.5%) goes to civil aeronautics which is around $145 billion, followed by military aeronautical to 18.3% (around $52 billion). Therefore, the growing aviation industry further contributes to the demand for carbon fiber that uses in aircraft manufacturing.
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The European aerospace carbon fiber market is segmented on the basis of raw material, fiber type, and application. On the basis of raw material, the market is sub-segmented into PAN and petroleum pitch & rayon. PAN is the predominant precursor for carbon fiber due to superior strength and stability, and higher carbon yield. PAN-based carbon fiber is widely used in the aerospace industry. Based on the fiber type, the market is segmented into virgin aerospace carbon fiber and recycled aerospace carbon fiber. Based on the application, the market is classified into commercial aviation, military aviation, and rotorcrafts.
Some of the companies contributing to the growth of the European aerospace carbon fiber market include ELG Carbon Fibre Ltd., SGL Carbon SE, Toray Industries, Inc., Solvay SA, Muhr Und Bender KG, Polar Manufacturing Ltd., and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market.
European Aerospace Carbon Fiber Market Report Segment
By Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
By Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon fiber
By Application
- Commercial Aviation
- Military Aviation
- Rotorcrafts
A full report of European Aerospace Carbon Fiber Market is available at: https://www.omrglobal.com/industry-reports/european-aerospace-carbon-fiber-market
European Aerospace Carbon Fiber Market– Segment by Region
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
