The report on the Carbon Fiber Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2028. The report also offers insights into different market segments and other factors affecting the market.
The carbon fiber market was estimated to grow from USD 4.23 billion in 2021 to USD 7.34 billion in 2028 at a CAGR of 8.09% during 2022-2028.
Carbon fibers are crystalline filaments of carbon atoms that are thin and strong. These fibers have a diameter of 5 to 10 micrometres and can be used as a strengthening material, particularly in resins and ceramics. Carbon fibers are mostly made of polyacrylonitrile (PAN), but they can also be made of rayon or petroleum pitch. These fibers offer various advantages, such as high stiffness, excellent strength-to-weight ratio, outstanding tensile strength, exceptional chemical resistance, remarkable temperature tolerance, and a low thermal expansion.
Factors such as increasing demand for high performance and lightweight composite materials and growing necessity for enhanced performance in various end-use industries are some of the key factors likely to drive the growth of the market during the forecast period.
The market's growth is influenced by a number of factors that have a significant or indirect impact on demand. An overview of such factors can be found in our report, which is derived utilizing SWOT analysis, industry life cycle, and supply chain analysis. Such key information can help market participants and investors identify the low-hanging fruits in the market and establish strategic initiatives to accelerate their growth.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all the industries, little or large, dealing in any sector.
The growth curves of Carbon Fiber market have witnessed enormous ebb and flows in the year 2020. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2022 is probably going to be superior to 2020 for the Carbon Fiber market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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The following are the key players in the market:
- Hexcel Corporation
- Mitsubishi Rayon Corporation Limited
- Cytec Solvay Group
- SGL Carbon Group
- Teijin Limited
- Formosa Plastics Corporation
- Hyosung Corporation
- Nippon Graphite Fiber Corporation
By End-Use Industry Type
The market is segmented as aerospace, industrial, and sporting goods. The industrial end-use industry segment is estimated to hold the major share of the market during the forecast period. The growing demand for high-performance lightweight materials in the automotive industry, as well as the increasing demand for carbon composites in wind turbines, can be attributed to the segment's growth. In addition, sporting goods are expected to witness significant growth in the market in the coming years.
By Precursor Type
The market is segmented as PAN-based carbon fiber and pitch-based carbon fiber. PAN-based carbon fiber is likely to be the larger as well as the faster-growing segment of the market during the forecast period. It has a wide range of applications in transportation, wind energy, and aerospace/defense, which is expected to fuel the segment’s growth in the coming years.
Europe is estimated to be the largest as well as the fastest-growing region in the market during the forecast period. Growing product demand from the aerospace, automotive, and wind energy industries is likely to drive the regional market growth over the forecast period.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
- Company Profiling
- Detailed profiling of key market players (up to 3 players)
- SWOT analysis of key market players (up to 3 players)
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