Global Carbon Fiber Composite Heating Elements Market – Insights
Carbon fiber composite heating elements are lightweight and strong fiber-reinforced elements that contain carbon fiber. Carbon fiber composites can be potential alternatives to other metal-based heating elements such as aluminum, owing to properties such as lightweight, high temperature tolerance, and high tensile strength. As a result, carbon fiber composites have a wide range applications as industrial and commercial heaters, and also in the aerospace industry for de-icing purposes.
Global Carbon fiber composite heating elements market is driven by rising demand for these elements from various end-use industries. Various advantages offered by these elements are likely to boost the revenue for the global carbon fiber composite heating elements market over the forecast period.
According to the article ‘Use of recycled carbon fiber as a heating element’, published in the Journal of Composite Materials in 2012, nickel–chromium and other alloy based heating elements are bulky and rigid and do not provide much flexibility to the final product. On the other hand, carbon fiber composites are softer and can be bent into various different shapes, and still possess better mechanical strength than metal alloys such as steel. Therefore, owing to their versatile nature, carbon fiber composites are being considered for a wide variety of industrial as well as domestic applications.
However, higher cost of carbon fiber composites as compared to other metals and alloys such as aluminum and steel is expected to hamper growth of the global carbon fiber composite heating elements market in the forecast period. For instance, according to the article ‘Cost Estimation Model For PAN Based Carbon Fiber Manufacturing Process’, published by the Clemson University - Mechanical Engineering at TigerPrints, in 2016, the cost of carbon fibers was around US$ 15/kg, and for stainless steel and aluminum was about US$ 1.5/kg globally.
Therefore, higher cost of carbon fiber-based composites used as heating elements compared to stainless steel and aluminum-based heating elements is expected to restrain growth of global carbon fiber composite heating elements market over the forecast period.
The global carbon fiber composite heating elements market was valued at US$ 3,418.5 Mn in 2018, and is expected to register a CAGR of 5.6%, in terms of revenue over the forecast period (2019-2027), to reach US$ 5,532.9 Mn by 2027.
Figure 1. Global Carbon Fiber Composite Heating Elements Market Share (%), By Region, 2018
Source: Coherent Market Insights, 2018-19
Europe accounted for the largest share of about 29.0%, in terms of revenue in the global carbon fiber composite heating elements market in 2018. Carbon fiber composite heating elements find applications in automotive, home appliances, energy, and aerospace industries. High growth of end-use industries is projected to fuel the revenue for Europe carbon fiber composite heating elements market. According to the International Council on Clean Transportation’s report published on European Vehicle Market Statistics in 2018-2019, the new car registrations in the European Union (EU) increased to 15.2 million in 2017, up from 11.8 million in 2013.
Based on application, industrial segment held the dominant position and contributed for over 32.0% revenue share in the global carbon fiber composite heating elements market in 2018. Increasing applications of carbon fiber composite heating elements in wind mills, transportation, and diverse heating requirements in processing industry is expected to contribute to segment growth over the forecast period.
Figure 2. Global Carbon Fiber Composite Heating Elements Market Share (%), By Application, 2018
Source: Coherent Market Insights, 2018-19
Carbon fiber composite heating elements are used to strengthen composite materials such as graphite fiber reinforced polymers. Non-polymer materials also act as a matrix for carbon fibers. Carbon fiber composite heating elements are also used in the filtration of gases at high temperature. Molding of a thin layer of carbon fiber heating elements improves fire resistance properties of polymers or thermoset composites, as the dense layer reflects heat efficiently. These properties of carbon fiber composites have led to an increase in its demand, which in turn, is contributing to the market growth.
Major players operating in the global carbon fiber composite heating elements market are SGL Group, Solvay, Methode Electronics, Lianyungang O-Yate Lighting Electrical Co. Ltd., Tokai Carbon, GKN Plc, Schunk Group, CFC Carbon Co., Ltd, and Flexel.
Carbon fiber heating elements are lightweight fibers and delivers excellent characteristics such as high tensile strength and high temperature toleance 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, in 2016, Solvay doubled its production capacity of carbon fiber at its South Carolina based plant. 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.
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 2018, 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 de-icing 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 2018, 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.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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