Carbon Fiber Market Growth is Set to Exhibit CAGR of 10.6% from 2021 to 2027
Research Reports
Sep 20, 2022
The carbon fibers market is showing a potential growth during the forecast timeline which is till 2027 at the valuation of USD 7.8 billion with a CAGR of 10.6%.
The carbon fibers are around 5 to 10 micrometres in diameter and are collected mostly through the atoms of the carbon. Carbon fibers come with different benefits that include high stiffness, high resistance to temperature, a good tensile strength, less weight, good chemical resistance, and less thermal expansion too. Such properties of carbon fiber are the reason that made it one preferable option in civil engineering, aerospace, military, and motorsports along with other competitive sports. But they are quite costly as compared to similar fibers like plastic or glass fibre. The market size at the global level for the carbon fiber market is quite growing and considering the demand, it is likely to grow even more.
Due to the pandemic crises, however, there had been many issues that industries from different countries had to face and the carbon fibre market was one of them. As the demand and supply chain got affected, there were shutdowns of the factor which was interspersed supply chain and also lessen down the ultimatum from the end-user industries that affected negatively the entire market for the carbon fibre. However, now that the regulations and lockdown restrictions are being eliminated by the government, it is now expected that the market soon shall start again and ace up the growth from where it had left before the 2020 COVID-19 outbreak took place.
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Market Segmentation:
The market for carbon fibre is categorized based on the form, type, raw material, region and application.
As per the raw material:
The market of the global carbon fibre is segmented into–
- PAN
- Rayon
- Pitch
As per the form:
The market of the global carbon fibre is segmented into-
- Composite
- Non-Composite
As per the application:
The market of the global carbon fibre is segmented into-
- Aerospace & Defense
- Wind Turbines
- Molding & Compounding
- Automotive
- Construction
- Sports Equipment
- Pressure Vessels
As per the type:
The market of the global carbon fibre is segmented into-
- Continuous
- Short Carbon fibre
- Long
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Regional Classification:
As per the regional analysis that has been made, the market for carbon fibre is categorized into Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Presently, North America is holding a good share of this market. The reasons behind it could be the increased use of carbon fiber in such regions because of different applications like sports equipment, aerospace and defence and also because of the unique properties that it offers. Followed by it, the regions like Asia pacific and Europe is also showing potential growth.
Market players
Some of the major players operating in the global carbon fiber market are Toray Industries, Inc (Japan), Teijin Limited (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Chemical Corporation (Japan), HYOSUNG (South Korea), Cytec Industries Inc. (US), DowAksa (US), OJSC «SvetlogorskKhimvolokno» (Belarus), Taekwang Industrial Co., Ltd (South Korea), Nippon Graphite Fiber Co., Ltd. (Japan), Formosa Plastics Corporation (US), Carbon Mods (US), and Kureha Corporation (Japan).
Industry News:
Due to COVID-19, there had been quite a disruption but the regulations are removed and the key players are focusing on implementing the mass production of such fibers in ordinary cars while following the eco-friendly norms.
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Related Links:
Global Carbon Fiber Wrap Market –https://www.marketresearchfuture.com/reports/carbon-fiber-wrap-market-895
Global Carbon Fiber in Automotive Market– https://www.marketresearchfuture.com/reports/carbon-fiber-automotive-market-5390
Global Carbon Fiber Prepreg Market– https://www.marketresearchfuture.com/reports/carbon-fiber-prepreg-market-5627
Global Carbon Fiber Reinforced Polymer Market– https://www.marketresearchfuture.com/reports/carbon-fiber-reinforced-polymer-market-2058
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