Global Carbon Fiber Market – Analysis By Raw Material (PAN, Pitch and Rayon), Fiber Type (Virgin, Recycled), End User, By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)
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Executive Summary
The Global Carbon Fiber market was valued at USD 3216.54 million in the year 2020 with the European region leading the market share. The carbon Fiber market is majorly driven by the aerospace industry to enhance the performance and efficiency of aircraft. The superior physical strength, low coefficient of thermal expansion, high dimensional stability, and low abrasion characteristics of carbon fiber complement its applications in aerospace antennas, aircraft brakes, and support structures. Moreover, the booming wind energy sector is generating strong demand for carbon fiber for its use in wind blades. The exceptional fatigue and corrosion resistance property of carbon material enhance the longevity of wind blades. Further, the growing adoption of clean energy technologies to reduce emissions is expected to further drive the carbon fibre market in the forecast period.
The rising demand for lightweight materials, along with government initiatives to reduce harmful gas emissions and increase fuel efficiency, is expected to drive the market for carbon fiber in other transporting applications such as automotive and marine industries. Carbon fiber, due to lightweight, high thermal stability and electrical conductivity, are widely used in various important automotive components, such as disk brakes, wheels, automobile hoods, and others, owing to this carbon fiber share from automotive applications is predicted to expand significantly in the upcoming years. Further, rising carbon fiber consumption is also expected due to the increasing production of vehicles to cater to strong consumer demand. Other than automotive applications, carbon Fiber has also significant growth potential in infrastructure, marine engineering and electronic applications.
Among the regions, the Asia Pacific region is estimated to be the fastest-growing market for carbon fiber during 2021-26. The growth of the Asia Pacific market can be attributed to the increasing investments of R&D in the automotive & wind energy end-use industry. Additionally, increasing production of the manufacturing sector of the Asia Pacific region to cater for the domestic requirements for superior quality products and rising exports from Japan and China leading to an increased demand for carbon fiber from the region.
Scope of the Report
• The report analyses the Carbon Fiber Market by Value (USD Million).
• The report analyses the Security Services Market by Raw Material Type (Polyacrylonitrile, Pitch & Rayon).
• The report analyses the Carbon Fiber Market by Fiber Type (Virgin, Recycled).
• The report analyses the Carbon Fiber Market by End Users (Aviation, Aerospace & Defense, Automotive, Wind Energy, Construction, Sports Equipment, Others).
• The Global Carbon Fiber Market has been analysed By Region (America, Europe, Asia Pacific, MEA).
• The Global Carbon Fiber Market has been analysed By Country (United States, Canada, Germany, France, United Kingdom, Spain, China, Japan, India, South Korea).
• The key insights of the report have been presented through the frameworks of SWOT Analysis. Also, the attractiveness of the market has been presented by region, by Raw Material, by Fiber Type, by End User.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks competitive developments, strategies and new product development. The companies analysed in the report include Toray Industries Co., Ltd. Teijin Limited, Hexcel Corporation, SGL Carbon, Mitsubishi Chemical, Formosa Plastics, Hyosung Corporation, Solvay Corporation, Nippon Carbon Co., Ltd., Kureha Corporation
• The report presents the analysis of the Carbon Fiber market for the historical period of 2016-2020 and the forecast period of 2021-2026.
Key Target Audience
• Carbon Fiber Manufacturing Companies
• Consulting and Advisory Firms
• Government and Policy Makers
• Regulatory Authorities
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