Carbon Fiber Market Research Report
Carbon Fiber Market:
The GMI Research's latest analysis reveals that the Carbon
Fiber Market is slated to register a significant CAGR over the forecast period.
This is attributed to the growing requirement for lightweight vehicles, the
rising automotive demand, and the strong demand for carbon fiber among the
automotive, aerospace & defense, and wind energy industries.
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Carbon Fiber Market’s leading
Manufacturers:
·
Hexcel Corporation
·
Formosa Plastics Corporation
·
TEIJIN Limited
·
Hyosung
·
Cytec Industries Inc.
·
Mitsubishi Rayon Co. Ltd.
·
Toray Industries Inc.
·
SGL Group
·
Solvay
·
Jiangsu Hengshen Fibre Materials Co. Ltd.
·
Dowaksa
Carbon Fiber Market Dynamics (including
market size, share, trends, growth, forecast, and industry analysis)
Key
Drivers
The strong demand for carbon fiber among the automotive,
aerospace & defense, and wind energy industries is a key driver
contributing to the growth of the global
carbon fiber market size. As per the carbon fiber market report, the
growing requirement for lightweight vehicles and the rising automotive demand
are some other factors surging the growth of the carbon fiber market share in
terms of revenue. With the growing environmental concerns, consumers are
proactively searching for fuel-efficient vehicles to stick to the government
regulations regarding automotive pollution and to reduce the amount of CO2
emission from the vehicles. The rapid growth in the aerospace sector in
countries such as Europe and North America is one of the emerging carbon fiber
market trends that is fuelling the carbon fiber industry demand.
There has been an upsurge in demand for commercial aviation,
particularly in the aerospace sector, due to the rising disposable income and
globalization. Consumers are now emphasizing their health and are getting
included in various physical and sports activities. This has surged the
application of carbon fiber in various sports and leisure equipment to fulfill
the increasing demand of the consumers. All these factors will attract a large
number of end-users towards the adoption of carbon fiber during the forecast
period. The rising propylene production has accelerated the demand for
polyacrylonitrile, which is considered an essential raw material for the
production of carbon fiber. As per the carbon fiber market research, the
increasing number of research and development activities is another factor that
will have a positive influence on the market's demand. According to the carbon
fiber market outlook, the emergence of the COVID-19 has adversely impacted the
demand of the automotive market, thus influencing the demand for the carbon
fiber market. However, the market is projected to bounce back in 2021.
Raw
material Segment Drivers
Based on raw material, the pan-based carbon fiber is
excepted to lead the market in the coming years due to the rising application
of this carbon fiber in several sectors, including wind energy, automotive,
aerospace & defense, sports & recreation, and other industries. This
growing application is owing to the exceptional features of Pan-based carbon
fiber include highly cost-effective, high strength modulus, and generate
improved quality of fiber. These factors of pan-based carbon fiber will attract
many end-users to opt for pan-Based carbon fiber.
Carbon Fiber Market Segmentation:
Segmentation
by Raw Material:
·
PAN–based carbon fiber
·
Pitch–based carbon fiber
·
Rayon–based carbon fiber
Segmentation
by Fiber Type:
·
Virgin carbon fiber
·
Recycled carbon fiber
Segmentation
by Product Type:
·
Continuous carbon fiber
·
Long carbon fiber
·
Short carbon fiber
Segmentation
by Modulus:
·
Standard modulus
·
Intermediate modulus
·
High modulus
Segmentation
by Application:
·
Composite
o
Prepreg
o
Molding
Compound
o
Woven
Fabric
·
Non-composite
Segmentation
by End-Use Industry:
·
Aerospace & defense
o
Commercial Aircraft
o
Regional
Jets
o
General
Aviation
o
Rotorcraft
o
Defense
Aircraft
o
Others
·
Automotive
o
Interior
Parts
o
Exterior
Parts
·
Wind Energy
·
Sporting goods
·
Electrical & electronics
·
Civil Engineering
·
Pipe & Tank
·
Marine
o
Yachts
o
Catamarans
o
Racing
Boats
·
Others
Segmentation
by Region:
·
North America
o
United States of America
o
Canada
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
RoW
o
Brazil
o
South Africa
o
Saudi Arabia
o
UAE
o
Rest of the world (remaining countries of the
LAMEA region)
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