Lucintel Forecasts Large Tow Carbon Fiber Market to Reach $2.9 Billion by 2028
Research Reports
Aug 31, 2023
According to the recent study the large tow carbon fiber market is projected to reach an estimated $2.9 billion by 2028 from $2.0 billion in 2023, at a CAGR of 7.4% from 2023 to 2028. Growth in this market is primarily driven by growing demand for advanced lighter materials in various end use industries, widespread application of this fiber in 3D printing technologies and turbines, and increasing awareness about the environment protection and reducing carbon footprints across the globe.
A more than 150 – page report is developed to understand trends, opportunities and forecast in large tow carbon fiber market by product type (48K, 50K, 60K, and others), technology (pan-based, pitch-based, and others), application (aerospace, energy, automotive, sports, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
“48K market is expected to remain the largest segment during the forecast period.”
Based on product type, the large tow carbon fiber market is segmented into 48K, 50K, 60K, and others. Lucintel forecasts that the 48K market is expected to remain the largest segment because it is affordable and meets the requirement for many industrial applications.
“Within the large tow carbon fiber market, the energy segment is expected to remain the largest application”
Based on application the energy segment is expected to witness the highest growth over the forecast period due to the extensive use of these fibers in the energy sector applications, like turbine blades.
“North America will dominate the large tow carbon fiber market in near future”
North America will remain the largest region due to the increasing demand for lightweight composite materials and significant demand for large tow carbon fibers in various end use industries in the region.
Major players of large tow carbon fiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. TORAY INDUSTRIES, SGL Carbon, Teijin, Mitsubishi Chemical, and Solvay are among the major large tow carbon fiber providers.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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Contact Information:
Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. 972.636.5056
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