Carbon Fiber Reinforced Metal Composites Market size is forecast to reach $27.57 billion by 2025, after growing at a CAGR of 10.5% during 2020-2025. Carbon fiber reinforced metal composites are made by dispersing carbon fibers into a metal matrix. They have high specific strength and excellent corrosion resistance owing to its use in various end-use industries like automotive, aerospace, defense, and electronics. Increasing demand for a high-quality product with good durability and strength is driving the growth of carbon fibers reinforced metal composites market globally. Moreover, government regulations to minimize the accidents have increased the demand for carbon fiber reinforced metal composites in the automotive sector which augmented their market growth.
- United States has shown significant growth in the carbon fiber reinforced metal composites market due to an increase in demand from applications such as automotive, defense and aviation industries.
- Properties such as durability, high tensile strength, flame, and chemical resistance are the major factors driving the growth of carbon fiber reinforced metal composites market.
- Increasing awareness of safety and security among people has also accelerated the growth of the market.
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Geography- Segment Analysis
North America dominated the carbon fiber reinforced metal composites market with a share of more than 30% in 2019, followed by the Asia Pacific and Europe. Rapid industrialization coupled with an increase in aeronautical activities has driven the growth of carbon fiber reinforced metal composites in developing nations.
Drivers – Carbon Fiber Reinforced Metal Composites Market
- Growing demand from end use industries
Major players in the carbon fiber reinforced metal composites market are Hexcel Corporation, Toray Industries Inc., Mitsubishi Rayon Co. Ltd., SGL Group, Materion Corporation, Owens Corning, Cytec Industries Inc., Teijin Limited, ADMA Products, CPS Technologies, among others.
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