Carbon Fiber Wrap Market Accounts for Major Growth with Innovative Trends Emerging in Automotive and other Sectors

Global Carbon Fiber Wrap Market Information: By Type of Lay-Up (Wet Lay-Up and Pre-Impregnated Lay-Up), End-Use Industry (Automotive, Consumer Goods, Construction, Sports, Aerospace & Defense, Wind Energy), and Region- Global Forecast To 2023

Pune, India - September 18, 2018 /MarketersMedia/ —

Global Carbon Fiber Wrap Market Overview to 2023: Carbon Fiber Wrap Industry Analysis

Carbon fibers are fibers constituted of mostly carbon atoms and possess general properties such as high stiffness, low weight, high tensile strength, high temperature tolerance, high chemical resistance as well as low thermal expansion. The flexibility of carbon fibers conforms to any shape, faster repair, excellent fatigue behavior, minimal disruption, and noise during preparation or installation. These properties prove to be an asset in civil engineering, aerospace, motor sports, automotive and military along with other competitive sports. With comparison to other types of fibers, carbon fibers have registered a better performance rate and light in nature. Its expensive nature continue to lead to hesitation among industry players. However, the cost has been reducing over the past several years and on this basis, it is expected that this trend will continue well over the coming years.

Competitive Analysis

The key vendors competing in the carbon fiber wrap market are Mitsubishi Chemical Carbon Fiber and Composites, Inc., TORAY INDUSTRIES, Inc., 3M, DowAksa, SGL Group – The Carbon Company, Cytec Solvay Group, AXEVINYL, Sika group, Grafityp UK Limited, Slickwraps Inc., Rvinyl.com, Inc., and Vartega Inc.

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Industry News

Swiss chemicals manufacturer Sika and French building materials company Saint-Gobain have recently reached an agreement to end an almost four-year legal dispute, resulting in Saint-Gobain acquiring a large stake in Sika. This leads to an increase of more than USD 500.5 million from the purchase price agreed between Saint-Gobain and the Sika, which takes into account the increase in Sika’s value since 2014.

Market segmentation

The carbon fiber wrap market is segmented by lay-up and application. The lay-up market is segmented into wet carbon fiber lay-up and pre-impregnated carbon-fiber lay-up. The wet carbon fiber lay-up process comprises of a dry carbon fiber film being laid over the part and resin applied by hand. The resin provides stiffness to the dry film and be used as a bonding agent for a carbon fiber wrap. In pre-impregnated process, carbon fiber is pre-impregnated with resin and doesn’t need any resin during application. Consumer goods, automobiles, and sports components use pre-impregnated carbon fiber wrap to enhance the aesthetic aspect. On the other hand, applications such as aerospace & defense, construction, wind blades & turbine use the convectional wet carbon fiber wrapping used to strengthen the structures and molds.

The market is also segmented by application, which is further divided into aerospace & defense, automobiles, construction, wind blades & turbines, consumer electronics, sports components, and others. Coming to automotive domain, the latest trend is wrapping the vehicle with satin or matte, giving it a more polished touch, rather than a factory paint. It is not permanent, so it can be be changed as needed, making it flexible for consumers. The vinyl material used to wrap a car or truck helps in protecting its painted surfaces. The automobile industry is reckoned to have a major market share in the market and generate significant revenue during the forecast period.

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The construction sector primarily uses carbon fiber wrapping to add strength to an existing structure or in some cases, it might be used in new infrastructural projects. As evidenced in many applications, its ability to reduce weight and accelerate structural stiffness reflects instantaneously in faster response time and reduced actuator and motor loads. This results in improved productivity and longer maintenance cycles.

Regional analysis

The global carbon fiber wrap market spreads across five main geographies, namely North America, Asia Pacific, Latin America, Europe, and the Middle East & Africa. Europe materialized as the largest market for carbon fiber wrap, followed by Asia Pacific, Middle East & Africa, and North America.

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