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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
United Kingdom Carbon Fibre Market Size
The United Kingdom carbon fibre market attained approximately USD 468.27 million in 2023. The market is estimated to grow at a CAGR of 4.90% in the forecast period of 2024-2032, reaching a value of around USD 720.23 million by 2032.
Key Trends in the Market
Carbon fibre is composed of thin carbon strands that are lightweight, have excellent tensile strength and stiffness, and boast resistance against chemicals and heat. It finds widespread applications in the aerospace, automotive, and construction sectors, among others.
- The growing use of carbon fibre in manufacturing fuel-efficient lightweight vehicles is one of the crucial United Kingdom carbon fibre market trends. These fibres possess an excellent strength-to-weight ratio, which aids vehicle manufacturers in reducing the weight of a vehicle while maintaining its high strength and stiffness.
- Research and development efforts for converting coal tar into a high-value carbon fibre product for diverse uses also provide opportunities for the market expansion.
- Increased usage of carbon fibres in wind turbines due to their superior tensile strength and high efficiency also fuels the United Kingdom carbon fibre market growth. Their high tensile strength enables turbines to withstand harsh weather conditions in the country while their lightweight benefits assist in capturing energy in low wind areas, improving the performance of wind turbines.
United Kingdom Carbon Fibre Market Report Snapshots
United Kingdom Carbon Fibre Market Size
United Kingdom Carbon Fibre Market Share
United Kingdom Carbon Fibre Market Analysis
United Kingdom Carbon Fibre Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 468.27 million.
The market is projected to grow at a CAGR of 4.90% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 720.23 million by 2032.
The major market drivers are the growing usage of carbon fibre in the aerospace and defence sectors and the rising demand for lightweight and fuel-efficient vehicles.
The key trends of the market include the growing usage of carbon fibres in lightweight vehicles and wind turbines and R&D activities by researchers to convert coal tar into high-value carbon fibre for application in multiple sectors.
The different materials used in carbon fibre are pan based material and pitch based.
Various types of carbon fibre are continuous carbon fibre, long carbon fibre, and short carbon fibre.
The key players in the market are Gen 2 Carbon Limited, Crosby Composites Ltd., SGL Carbon Fibres Ltd., Hexcel Leicester, Carbon Technology Ltd, Mitsubishi Chemical Carbon Fiber and Composites, Solvay S.A., and Toray Industries Inc., among others.
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