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Carbon Fiber Market Research Report
Evolving need for automation and the demand for light weight vehicles are likely to fuel the carbon fiber market growth. Rapid globalization and accelerating per capita income of individuals has bolstered the demand for commercial aviation, primarily across the aerospace sector. Expansion across the aerospace industry across the European and North American nation will surge the market share.

Carbon Fiber Market

Carbon Fiber Market size is predicted to expand at a higher CAGR over the forecast period (2020-2027), owing to the growing demand for recycled carbon fiber.

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Evolving need for automation and the demand for light weight vehicles are likely to fuel the carbon fiber market growth. Rapid globalization and accelerating per capita income of individuals has bolstered the demand for commercial aviation, primarily across the aerospace sector. Expansion across the aerospace industry across the European and North American nation will surge the market share. With the growing health concerns, the engagement in various sports and physical activities have increased. Thus, the growing deployment of carbon fiber in different leisure and sports equipment has driven the market size. However, the sudden outburst of coronavirus generated several uncertainties for the market, hampering the automotive industry, thereby decreasing the use of carbon fiber.

By end-use Industry, the aerospace & defense industry segment is projected to witness a faster CAGR over the forecast period, due to the increasing production of aircraft, primarily across Boeing and Airbus.

By product type, the short carbon fiber segment is anticipated to hold a larger share during the forecast period. As per the carbon fiber market analysis, growing adoption of carbon fibers across the aerospace industry due to the high flexibility and modulus have driven the market growth.

By region, the European region is predicted to dominate the carbon fiber market over the forecast period, owing to the growing emphasis of producers to use structural automotive parts. Growing demand for materials, owing to the remarkable strength, lightweight, and corrosion resilience features have bolstered the market growth.

Key players operating in the market, include Jiangsu Hengshen Fibre Materials Co. Ltd., Formosa Plastics Corporation, Hexcel Corporation, TEIJIN Limited, Hyosung, Cytec Industries Inc., Toray Industries Inc., SGL Group, Mitsubishi Rayon Co. Ltd., Solvay, and Dowaksa, among others.

 Key Developments:

In 2020, TEIJIN Limited decided to develop new Teijin Automotive Center Europe GmbH (TACE) base in Germany for technical functions within the company’s automotive composite business.

In 2019, Hyosung decided to enlarge its current annual production of carbon fiber from 200 tons on a single line to 24,000 tons on ten lines by 2028. The partnership with South Jeolla Province and Jeonju City intended to install and extend the production facilities and investment support.

Carbon Fiber Market Segmentation:

Carbon Fiber Market by Raw Material

·         PAN–based carbon fiber

·         Pitch–based carbon fiber

·         Rayon–based carbon fiber

Carbon Fiber Market by Fiber Type

·         Virgin carbon fiber

·         Recycled carbon fiber

Carbon Fiber Market by Product Type

·         Continuous carbon fiber

·         Long carbon fiber

·         Short carbon fiber

Carbon Fiber Market by Modulu

·         Standard modulus

·         Intermediate modulus

·         High modulus

Carbon Fiber Market by Application

·         Composite

·         Prepreg

·         Molding Compound

·         Woven Fabric

·         Non-composite

Carbon Fiber Market 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

Carbon Fiber Market by Region:

·         Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·         North America

o   United States of America

o   Canada

·         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

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