Carbon Fiber Resin Market Analysis

Resin Type (Thermoset Resin, Thermoplastic Resin)

The thermoset resin segment in the carbon fiber resin market is expected to have the biggest revenue share of 65% by 2037. The growth of the segment is primarily attributed to high strength and extremely retardancy to temperature when compared to thermoplastic resin, which further increases its application in different sectors. The common thermoset resin, phenolic and melamine resin are used for manufacturing brake pads and linings in automobiles. The growing production of automobiles is also expected to drive the segment’s growth. In 2022, around 85 million motor vehicles were produced worldwide, a 5.7% increase over 2021. These resins provide excellent friction properties and thermal stability, ensuring reliable braking performance even under high-temperature conditions.

Application (Wind Energy, Automotive, Aerospace & Defense, Marine, Electrical & Electronics, Civil Engineering, Sporting Goods)

In the year 2037, the aerospace and defense segment in the carbon fiber resin market is predicted to have a major proportion of roughly 40%. Growing expenditure on the defense sector is expected to drive the segment’s growth. In 2021, total worldwide military spending rose by 0.7% in real terms to USD 2113 billion. The five countries that dominated the global defense expenditures in 2021 were the United States, China, India, the United Kingdom, and Russia, accounting for 62% of total spending. Furthermore, owing to better economic status, people are increasingly choosing airplanes for traveling, resulting in the expansion of the aerospace industry. As of March 2023, the number of commercial fleet aviation across the world is around 27,400. Carbon fiber resins' combination of high strength, low weight, and good mechanical qualities benefits the aerospace and defense industries considerably. In the design and manufacturing of important components of missiles, protective systems, spacecraft, fighter aircraft, unmanned aerial vehicles, helicopters, and others., these materials contribute to improved performance, fuel efficiency, durability, and overall cost savings.

Our in-depth analysis of the global carbon fiber resin market includes the following segments: