Carbon Fiber Composite Heating Elements Market
Carbon fiber heating elements are lightweight fibers and delivers excellent characteristics such as high tensile strength and high temperature tolerance in comparison with conventional structure metals such as aluminum and steel. Thus, high demand for carbon fiber composites for manufacturing heating tubes and other elements is expected to increase demand for carbon composite heating elements over the forecast period. Rising applications of these elements in transportation, home appliances, aerospace, and other industries is expected to drive the market growth over the forecast period.
Key players operating in the market are focused on expansion strategy, in order to enhance its production capacity. For instance, Mitsubishi Chemical Corporation announced that it will acquire c-m-p GmbH, Germany through its subsidiary, Mitsubishi Chemical Advanced Material, in January 2020, in order to strengthen its presence in the carbon fibre composite material business. The production expansion strategy was implemented to make carbon fiber reinforced composite materials for application in the aerospace industry. The carbon fiber-reinforced composite material is used to manufacture aeroplane wing movable flaps and engine nacelles.
Market Dynamics
Based on product type, global carbon fiber composite heating elements market is segregated into carbon fiber composite heating tube, carbon fiber composite heating plate, carbon fiber composite heating wire, and others. In 2020, carbon fiber composite heating plates segment held the largest revenue share in the global market and contributed for over 43.0% in terms of revenue. Carbon fiber composites and other carbon-based materials are being developed, in order to replace conventional heat conducting materials.
Heating plates are a crystal structure of graphite and can be segregated into two categories such as soft plates and hard plates. These plates find applications in heat treating and furnace fixtures, windmill blades, automotive & tooling, and aerospace deicing applications. Moreover, heat resistance property allows heating plates to be specifically customized according to requirements of end user, which is one of the major drivers fueling growth of the carbon fiber composites heating plate segment, globally. Among regions, in 2021, Europe held dominant position in global carbon fiber composite heating elements market and contributed revenue share of over 29.0%. The regional growth is driven by high presence of industrial manufacturers such as Rolls Royce, Siemens AG, Airbus SE, and others in the Europe market.
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