Carbon Fiber Sheet: Introduction
- Carbon fiber is extensively used in wide range of industries due to its excellent strength and light weight. It is five times as strong and one-third the weight of steel. Addition of small amount of carbon fiber to the sheet helps impart conductive properties to the sheet. Furthermore, electric resistance and heat resistance properties can be developed in a sheet. Hence, carbon fiber is often made to form sheets, which are further used for concrete repair and structural strengthening in the building & construction sector.
Diverse Functionalities of Carbon Fiber Sheet to Drive Market
- Carbon fiber is primarily used in rehabilitation or strengthening of concrete structure, due to its light weight, exceptional strength, and corrosion and heat resistance. Carbon fiber sheet is often used onto the surface of reinforced concrete beam to enhance the load bearing capacity of the structure. Carbon fiber sheets are made with space-grade pre-preg carbon fiber, thus making the structure lightweight and durable. Furthermore, the structure can handle extreme conditions. These attributes of carbon fiber sheet are expected to drive its demand in the near future.
Impact of COVID-19 on Global Carbon Fiber Sheet Market
- The COVID-19 outbreak has created several challenges for the global automotive sector. In January 2020, China’s commercial vehicle sales witnessed 18% decline over those in January 2019. This is anticipated to adversely impact the global automobile industry, thereby hampering the demand for carbon fiber sheets in the next few years.
- The construction industry accounts for nearly 13% of the global GDP. The COVID-19 has hampered the global real estate market. Disruption of the supply chain of building materials has resulted in suspension of production and distribution of materials used in the construction sector. Movement of workers from urban to rural areas and shortage of laborers at construction sites have led to shutdown of the global construction sector. However, currently, automotive and building & construction sectors are in the phase of recovery. Thus, demand for carbon fiber sheet, which is used in these sectors, is expected to eventually increase by the end of the 2020.
Asia Pacific to Hold Major Share of Global Carbon Fiber Sheet Market
- In terms of region, the global carbon fiber sheet market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of consumption, Asia Pacific is anticipated to hold major share of the global carbon fiber sheet market during the forecast period. Demand for carbon fiber sheet is projected to rise at a rapid pace in Asia Pacific owing to the presence of diverse consumer base across the region. Furthermore, increase in support from governments of various countries, such as China and India, and rise in foreign direct investments (FDIs) in the building & construction sector are expected to drive the carbon fiber sheet in these countries in the near future. Economic growth and rapid increase in population are resulting in rise in investments in new constructions and expansion of existing infrastructure, particularly in developing economies. This, in turn, is propelling the building & construction industry in Asia Pacific. Outstanding conductive properties and light weight of carbon fiber sheet make it an ideal material for usage in the production of concrete repair and structural strengthening in the construction sector. These factors are projected to drive the demand for carbon fiber sheet in Asia Pacific in the next few years.
- The carbon fiber sheet market in Europe is highly consolidated. Manufacturers of carbon fiber sheet in the region are primarily engaged in increasing their production capacity in order to meet the rising demand from the construction industry. Rapid urbanization in Nordic countries is leading to housing shortage in major cities. The capitals of Nordic countries are the most rapidly expanding cities in Europe. This is fueling the demand for construction projects in these countries. In turn, this is propelling the demand for carbon fiber sheet across Nordic countries.
Key Players Operating in Market
The global carbon fiber sheet market is highly fragmented, with the presence of large numbers of large and small players. Players operating in the global carbon fiber sheet market are focusing on expanding their business as well as product portfolios by entering into partnerships with companies that manufacture end-products. Key players operating in the global carbon fiber sheet market include:
- Erismet OU
- Carbon Fiber Australia
- YITAI Carbon Fiber
- Protech Composites
- Shanghai Horse Construction Co., Ltd
- STEVS Automotive Performance Design Ltd.
- Elevated Materials
Global Carbon Fiber Sheet Market: Research Scope
Global Carbon Fiber Sheet Market, by Carbon Fiber Type
Global Carbon Fiber Sheet Market, by End-use Industry
- Automotive & Transportation
- Building & Construction
- Electrical & Electronics
- Aerospace & Defense
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