Gmi Research's blog : Carbon Fiber Market Research Report
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
About GMI
Research
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