Carbon Fiber Resin Market Share

North American Market Forecast

Carbon fiber resin market is expected to have the greatest revenue share in North America, accounting for around 33% of the total market by the end of 2037. The growth of the market can be attributed majorly to the rising government initiatives for reducing vehicular emissions. Corporate Average Fuel Economy (CAFÉ) standards like laws set by National Highway Traffic Safety Emission on 19^th September 2022, aim at curbing the carbon oxides emission for vehicle exhaust. It entails an environment impact statement (EIS) to assess the probable impact of new fuel efficiency criteria for medium and heavy-duty vehicles on the environment. Furthermore, the growing focus on producing higher electricity from wind energy is also expected to drive market growth in the region.

European Market Statistics

The Europe carbon fiber resin market is expected to be the second largest, with a share of approximately 27% by the end of 2037. The growth of the market in the region can be attributed majorly to the introduction of CAFÉ regulation in the European region, as it will encourage to use of composite parts that are manufactured with the help of carbon fiber resin.