Carbon Fiber Market: Global Industry Analysis Outlook and Forecast (2021-2027)

Global Carbon Fiber Market size was valued at US$ 3.7 Bn. in 2020 and the total revenue is expected to grow at 8.6 % through 2021 to 2027, the Carbon fiber market is reaching nearly US$ 6.60 Bn in 2027.

Global Carbon Fiber Market Overview:

The demand for carbon fiber is increasing with the rising demand from the automotive and aerospace industries. Increased automotive demand combined with a growing desire for lightweight automobiles is likely to drive the carbon fiber market. The demand for fuel-efficient automobiles, as well as government laws surrounding automotive emissions, are expected to play a major role. Carbon fibers greatly reduce the time necessary for construction activities, resulting in lower overall costs. Apart from that, carbon fibers are employed in the automotive and aerospace industries, especially to reduce the weight of components. Considering these considerations, the carbon fiber market is expected to grow rapidly, exceeding an amazing valuation of about US$ 9 billion between 2021 and 2031, representing an impressive 8.5 % CAGR. By the end of 2031, an estimated 138,000 tonnes of carbon fiber would have been sold around the world. Global Carbon Fiber Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Global Carbon Fiber Market Dynamics:

Carbon fiber is Becoming More Popular in the Sports and Fitness Industry. Carbon Fibers are commonly employed in the manufacture of sporting equipment due to their high strength and low weight. When building highly-specific applications, carbon fibers enable design flexibility. Carbon fiber composites can readily produce the correct shape of equipment, which is crucial for its performance. Bikers and golfers benefit from carbon fibre since it improves their performance. The tennis racket is the most particular application of carbon fiber in sporting equipment. As a result, the aforementioned factors are increasing the demand for carbon fiber in various sporting equipment. According to a survey released in 2019 by the International Health, Racquet & Sports club Association (IHRSA), the global fitness industry generated $94 billion in sales in 2018, and this figure is expected to climb in the following years, driving demand for carbon fiber in the anticipated period. Demand from the Clean Energy Sector is growing The wind energy industry is one of the primary reasons driving the Carbon Fibre Market. With the depletion of fossil fuels, the world is beginning to recognize the importance of generating energy from renewable sources. Carbon fiber is commonly employed in turbine blade manufacture, resulting in narrow blades with higher aerodynamic efficiency, as well as lighter, longer, stronger, and overall more efficient wind turbines with lower Levelized Cost of Energy (LCOE). Carbon fiber will become more widely used as the wind energy industry develops. With the world government focused on environmental issues, an increase in wind energy investment is beneficial to the market's growth. Substitutes are Expensive and Readily Available. The high cost of carbon fiber is a major concern in the market's expansion. Due to their high cost, these composites are not widely used, and developing low-cost solutions is the manufacturer's key task. Carbon fiber composites are only employed in high-end and luxury vehicles in the automobile industry. Furthermore, alternative carbon fiber composites such as glass fiber, aluminum, copper, basalt fiber, and natural fiber represent a severe threat to market expansion. These replacements are durable and cost-effective, and they have similar end-use applications. Carbon Fibre Market Landscape Key strategies implemented by players in the Carbon fiber market study include technology releases, acquisitions, and R&D activities. In 2020, the Carbon Fiber market will be consolidated by the top ten companies, which will hold xx% of the market share. Toray Industries Inc. (Japan), SGL Group (Germany), Hexcel Corporation (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Formosa Plastics Corporation (Taiwan), Solvay (Belgium), Jiangsu Hengshen Co. Ltd. (China) Hyosung (South Korea), DowAksa (Turkey).are some of the major players in the Carbon Fiber Market. Global Carbon Fiber Market

Global Carbon Fiber Market Segments:

The carbon fiber market is sub-segmented into Raw material, Product type, Fiber type, Application and End user. Based on Raw material, the market is sub-segmented into PAN-based carbon fiber, Pitch-based carbon fiber, and Rayon-based carbon fiber. Polyacrylonitrile (PAN) or pitch is the most common basic ingredient used in carbon fiber production. PAN's exceptional features are expected to increase acceptance in a variety of applications. By 2025, the global PAN market is expected to increase at a CGAR of 12.9 %. Resulting in demand for more than 200 kilotons. Because of the growing need for carbon fiber with a greater strength-to-weight ratio, PAN precursor is commonly used due to its excellent material qualities. The segment's expansion is likely to be aided by PAN's lower cost when compared to pitch-based carbon fiber. With the cost-effectiveness and higher fiber quality, PAN-based carbon fiber is a highly profitable precursor material type. PAN-based fibers account for roughly 95 % of global carbon fiber revenue, Carbon fiber-based on PAN has a yield of over 85% and is widely utilised in structural material composites in the aerospace and defense, industrial, and sporting goods industries. Based on End-user, the market is sub-segmented into Aerospace and Defense, Automotive, Wind Energy, Civil engineering, Electrical and electronics, Marine, Pipe, and Marine. With a CAGR of 14.4% over the forecast period, the wind energy segment is expected to be the fastest expanding application segment. The demand for wind energy is about 17 % of total demand. Global Carbon Fiber Market Product demand for the wind turbines application segment is likely to be driven by the growing demand for energy-efficient and lightweight wind turbines. The aerospace and defence industry accounted for the biggest share, owing to its increased demand for lightweight materials. The rapidly expanding aviation industry is expected to broaden the scope of applications in the air transportation sector. Global Carbon Fiber Market

Global Carbon Fiber Market Regional Insights:

Europe (Germany) - The government actions and policies aimed at reducing the negative impact on the environment, Germany is likely to stay profitable during the forecast period. According to Fact.MR, the German market is expected to have a revenue share of more than 1/3rd. With the successful launch of the Airbus A320 series and Eurofighter, the region's aerospace and defence industry are at the forefront of innovation. The German parliament's budget committee approved a €5.4 billion ($6.35 billion) contract with Airbus to purchase 38 Eurofighter jets for the country's air force in November 2020. The European Union Automotive Fuel Economy (UNEP) standard imposes strict requirements on automakers to reduce carbon emissions by employing lightweight materials. In addition, the EU has agreed to implement regulations that will reduce carbon emissions from new automobiles and vans by 15% in 2025 and 37.5 % in 2030. As a result, carbon fiber is widely used in electric vehicles in the region. North America (US) - The United States will experience substantial growth as a result of the region's research and development, which has resulted in significant improvements in infrastructure, costs, and product innovation. The US market will grow at a CAGR of 7% through 2031. The federal government said in April 2021 that by 2030, it aims to sell 50% of all-electric, plug-in hybrid, or hydrogen-powered vehicles. Additionally, an executive order is expected to be issued, directing the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) to establish aggressive long-term restrictions. Global Carbon Fiber MarketAsia-pacific (China) - With over 200 small aircraft parts producers, China's aircraft parts and assembly manufacturing sector is gaining traction. In addition, China is forecast to overtake the United States as the world's largest single-country market for civil aircraft sales within the next 20 years. China's commercial aviation companies are expected to supply 10% of the domestic fleet under the 'Made in China 2025' strategy, while its jetliners will likely account for up to 20% of the worldwide market by 2025. Given the aforementioned criteria, Fact.MR expects the carbon fiber industry will remain the most lucrative, with sales expected to total around 50,000 tonnes by the end of 2031. The objective of the report is to present a comprehensive analysis of the global Carbon Fiber market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Carbon Fiber market dynamics, structure by analyzing the market segments and projecting the global Carbon Fiber market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Carbon Fiber market make the report investor’s guide.

Global Carbon Fiber Market Scope: Inquire before buying

Global Carbon Fiber Market

Global Carbon Fiber Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Global Carbon Fiber Market key player

Toray Industries Inc. (Japan) • SGL Group (Germany) • Hexcel Corporation (U.S.) • Mitsubishi Rayon Co. Ltd. (Japan) • Teijin Limited (Japan) • Plastics Corporation (Taiwan) • Solvay (Belgium) • Jiangsu Hengshen Co. Ltd. (China) • Hyosung (South Korea), • DowAksa (Turkey). • BASF SE • SGL Group • Teijin Limited • Mitsubishi Rayon Co., Ltd. • Hexcel Corporation

Frequently Asked Questions:

1) What was the market size of Global Carbon Fiber Market markets in 2020? Ans - Global Global Carbon Fiber Market was worth US$ 3.7 Bn in 2020. 2) What is the market segment of the Carbon Fiber Market? Ans -The market segments are based on Raw material, Product type, Fiber type, Application and End user. 3) What is the forecast period considered for Global Carbon Fiber Market? Ans -The forecast period for Global Carbon Fiber Market is 2021 to 2027. 4) What is the market size of Global Carbon Fiber Market markets in 2027? Ans – Global Carbon Fiber Market is estimated as worth 193.27 Kilo Tonnes 5) Which region is dominated in Global Carbon Fiber Market? Ans -In 2020, the A region dominated the Global Carbon Fiber Market.
1. Global Carbon Fiber Market: Research Methodology 2. Global Carbon Fiber Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Carbon Fiber Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Carbon Fiber Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Carbon Fiber Market Segmentation 4.1. Global Carbon Fiber Market, by Raw material (2020-2027) • PAN–based carbon fiber • Pitch–based carbon fiber • Rayon–based carbon fiber 4.2. Global Carbon Fiber Market, by Product type (2020-2027) • Continuous carbon fiber • Long carbon fiber • Short carbon fiber 4.3. Global Carbon Fiber Market, by Fiber type (2020-2027) • Virgin carbon fiber • Recycled carbon fiber 4.4. Global Carbon Fiber Market, by Application (2020-2027) • Composite • Non-composite 4.5. Global Carbon Fiber Market, by End user (2020-2027) • Aerospace & defense • Automotive • Wind Energy • Electrical & electronics • Civil Engineering • Marine 5. North America Carbon Fiber Market(2020-2027) 5.1. Carbon Fiber Market, by Raw material (2020-2027) • Battery Chemicals • Super alloys • Ceramics and pigments • Hard metals • Magnet • Binder Materials • Life Science • Others 5.2. Carbon Fiber Market, by Product type (2020-2027) • Metal • Chemical compound 5.3. Carbon Fiber Market, by Fiber type (2020-2027) • Virgin carbon fiber • Recycled carbon fiber 5.4. Carbon Fiber Market, by Application (2020-2027) • Composite • Non-composite 5.5. Carbon Fiber Market, by End user (2020-2027) • Aerospace & defense • Automotive • Wind Energy • Electrical & electronics • Civil Engineering • Marine 5.6. North America Farm Equipment Market, by Country (2020-2027) • US • Canada • Mexico 6. European Carbon Fiber Market (2020-2027) 6.1. European Carbon Fiber Market, by Raw material (2020-2027) 6.2. European Carbon Fiber Market, by Product type (2020-2027) 6.3. European Carbon Fiber Market, by Fiber type (2020-2027) 6.4. European Carbon Fiber Market, by Application (2020-2027) 6.5. European Carbon Fiber Market, by End user (2020-2027) 6.6. European Carbon Fiber Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Carbon Fiber Market (2020-2027) 7.1. Asia Pacific Carbon Fiber Market, by Raw material (2020-2027) 7.2. Asia Pacific Carbon Fiber Market, by Product type (2020-2027) 7.3. European Carbon Fiber Market, by Fiber type (2020-2027) 7.4. European Carbon Fiber Market, by Application (2020-2027) 7.5. European Carbon Fiber Market, by End user (2020-2027) 7.6. North America Farm Equipment Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Carbon Fiber Market (2020-2027) 8.1. Middle East and Africa Carbon Fiber Market, by Raw material (2020-2027) 8.2. Middle East and Africa Carbon Fiber Market, by Product type (2020-2027) 8.3. European Carbon Fiber Market, by Fiber type (2020-2027) 8.4. European Carbon Fiber Market, by Application (2020-2027) 8.5. European Carbon Fiber Market, by End user (2020-2027) 8.6. North America Farm Equipment Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Carbon Fiber Market (2020-2027) 9.1. Latin America Carbon Fiber Market, by Raw material (2020-2027) 9.2. Latin America Carbon Fiber Market, by Product type (2020-2027) 9.3. European Carbon Fiber Market, by Fiber type (2020-2027) 9.4. European Carbon Fiber Market, by Application (2020-2027) 9.5. European Carbon Fiber Market, by End user (2020-2027) 9.6. North America Farm Equipment Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Toray Industries Inc. (Japan) 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. SGL Group (Germany) 10.3. Hexcel Corporation (U.S.) 10.4. Mitsubishi Rayon Co. Ltd. (Japan) 10.5. Teijin Limited (Japan) 10.6. Formosa Plastics Corporation (Taiwan) 10.7. Solvay (Belgium) 10.8. Jiangsu Hengshen Co. Ltd. (China) 10.9. Hyosung (South Korea), 10.10. DowAksa (Turkey). 10.11. BASF SE 10.12. SGL Group 10.13. Teijin Limited 10.14. Mitsubishi Rayon Co., Ltd. 10.15. Hexcel Corporation

About This Report

Report ID 105705
Category Material & Chemical
Published Date Jun 2021
Updated Date Nov 2021
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