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Global Carbon Fiber Market
Global Carbon Fiber Market
The GMI Research stimulates that the Carbon Fiber Market will experience a rise in demand over the forecast period. This is because of the prevalence of several electric car and aircraft producers, aggravating endorsement of carbon fibers across aerospace industry and increasing focus on their usage in bumpers, bonnets and frontends.
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Introduction of the Carbon Fiber Market:
Carbon fibers are fibers composed mainly of carbon atoms with a diameter of approximately 5-10 micrometers. They are extensively used to reinforce different polymers because of their massive strength property. The fiber proffers enormous beneficial advantages such as rigidity, negligible weight, high-temperature resistance, and high bendability.
Key Market Players:
· Cytec Industries Inc.
· Hexcel Corporation
· TEIJIN Limited
· Formosa Plastics Corporation
· Hyosung
· Mitsubishi Rayon Co. Ltd.
· SGL Group
· Toray Industries Inc.
· Solvay
· Dowaksa
· Jiangsu Hengshen Fibre Materials Co. Ltd.
Carbon Fiber Market Dynamics
The expansion in the global carbon fiber market size is because of their mounting demand across automotive, aerospace & defense, and wind energy sectors and the accelerating motor vehicle demand. In addition, the accelerating requirement for low-weight vehicles and the rising apprehension of consumers towards the environment has persuaded them to opt for fuel-effective vehicles. Thus, this transpiring need to apprehend the governmental norms concerned with pollution and reduce the amount of carbon dioxide discharged from vehicles has stimulated the carbon fiber market size.
Besides this, the mounting disposable income, rapid globalization, and ongoing enlargement in the aerospace sector have raised the market growth. Further, the aggravating emphasis of consumers towards health has inclined them towards sports, and physical activities have raised the application of fiber in sports and leisure activities to fulfill the exacerbating demand of consumers. On the other hand, the carbon fiber market global forecast states that, the widespread outbreak of the coronavirus crisis has negatively influenced the market growth for automotive carbon fiber. Nevertheless, the market is predicted to rebound by 2021.
End-Use Industry Drivers
Based on the end-use industry, aerospace & defense are contemplated to fuel at a faster rate because of the rising production of aircraft, primarily by Boeing and Airbus. Moreover, these companies are perceiving an escalating demand approximating to 9,000 new broad bodied aircraft over the next 20 years. Thus, as per the carbon fiber market analysis, all these factors together are contributing to the market growth.
Product Type Segment Drivers
On the basis of product type, short carbon fiber is projected to expand at a faster rate over the coming years. This is because of the amplifying endorsement of these carbon fibers in the aerospace industry owing to the excessive bendability and modulus.
Carbon Fiber Market Segmentation:
Segmentation by Raw Material
· PAN–based carbon fiber
· Pitch–based carbon fiber
· Rayon–based carbon fiber
Segmentation by Fiber Type
· Virgin carbon fiber
· Recycled carbon fiber
Segmentation by Product Type
· Continuous carbon fiber
· Long carbon fiber
· Short carbon fiber
Segmentation by Modulus
· Standard modulus
· Intermediate modulus
· High modulus
Segmentation by Application
· Composite
o Prepreg
o Molding Compound
o Woven Fabric
· Non-composite
Segmentation 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
Segmentation by Region:
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· North America
o United States of America
o Canada
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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