Global Carbon Fiber Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
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The Carbon Fiber Market Report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027.
The Carbon Fiber Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global carbon fiber market report has been segmented on the basis of raw material, product type, application, and region.
This report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective of providing a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically and the current impact to make informed forecasts about the scenarios in the future.
Carbon Fiber Market Overview:
The Carbon Fiber Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
Carbon fibers, also known as CF or graphite fiber, are a type of fiber composed of carbon atoms. It is produced when carbon atoms are bonded together forming a crystal.
Carbon fibers are combined with other composite materials in order to form a carbon composite. Carbon fiber is used for various purposes such as automotive, defense, and aerospace, owing to its properties such as high chemical tolerance, high heat resistance, low weight, high stiffness, and low thermal expansion.
The growing adoption of carbon fibers in the production of structural composite parts of aircraft is a major factor driving the growth of the global carbon fiber market.
Growing demand for lightweight vehicles in the automotive sector and increasing use of carbon fiber in the aerospace sector are resulting in its rising demand. Additionally, the growing automotive sector globally is anticipated to fuel growth of the carbon fiber market.
Growing adoption of carbon fiber for wind turbines, coupled with a rising preference for sustainable energy are factors propelling the growth of the global market. The increasing use of carbon fibers for various functions is another factor expected to drive the growth of the global carbon fiber market.
However, the high cost of carbon fiber and low availability are factors that may hamper the growth of the global carbon fiber market. The introduction of low-cost carbon fiber can affect the growth of the target market.
The market in North America accounts for a significant share in terms of revenue and is expected to witness significant growth over the forecast period. The presence of a robust aviation sector, coupled with the increasing adoption of new technology are factors driving the growth of the global market in this region.
Market in Europe is expected to witness high growth in the near future, owing to the presence of well-developed automobile industry and increasing use of wind energy in various countries in this region.
Revenue in the Asia Pacific market is expected to witness lucrative growth over the forecast period, due to the increasing number of manufacturing industries in this region.
Carbon Fiber Market Segmentation:
Segmentation by raw material:
- Pitch based
- Rayon Based
Segmentation by product type:
- Short Carbon Fiber
- Continuous Carbon Fiber
- Long Carbon Fiber
Segmentation by application:
- Defense and aerospace
- Civil Engineering
- Sports Goods
- Wind Energy
- Electronics and Electrical
- Others (Construction, Pipe and tanks, etc.)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Toray Industries Inc.
- Hexcel Corporation
- Mitsubishi Rayon Co., Ltd.
- Teijin Limited
- Hyosung Corporation
- SGL Carbon SE
- Cytec Industries Inc.
- DowAksa USA LLC
- Svetlogorsk-Khimvolokno (OJSC)
- Kemrock Industries and Exports Limited
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