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Global Carbon Fiber Market Insight
2022-02-10 Comments

Global carbon fiber are forecast to 8.61% over the next five years. According to the WK-chem Research, “Global Carbon Fiber Professional Survey Report 2022, Forecast to 2027”, growing demand for lightweight composite materials in aerospace will drive market size. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 8.61% base on WK-chem Research regression analysis model.

Analysts’ Viewpoint:

“Most major producers should focus on acquisitions, new product launches and strategic partnerships to enhance their product portfolios, expand market reach and gain a competitive advantage over other major players”, said Jennifer Evans, Senior analyst, in WK-chem Research.

Market insight:

The rising upcoming development in the fields of automobiles, aerospace & defense, and wind energy industries shall augment the market growth. Growing automotive demand, along with an increasing need for lightweight vehicles, is anticipated to drive the overall market. The need for furl-efficient vehicles and strict government regulations carbon emission are key factors driving the industry outlook.
The onset of the global COVID-19 pandemic has disrupted the growth, development, and functioning of most sectors worldwide. The supply chain of most industries has been adversely affected due to the global lockdown, bans, and restrictions on travel and movement across the globe. The changing business environment and geopolitical scenario have caused the carbon fiber market to decline. The reduced production capacity and lower demand from major sectors have impacted many manufacturers, leading to lower demand for carbon fibers.

Competition Landscape:

This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading carbon fiber companies that include: Toray Indusries (Japan), Teijin Limited (Japan), SGL Carbon (Germany), Mitsubishi Chemical Holdings (Japan), Hexcel Corporation (US), Solvay (Belgium).

Segmentation of Carbon Fiber Market:

According to the type, the market for carbon fiber is divided into: PAN, Pitch. PAN has the largest market share. The PAN-based carbon fiber segment dominated the carbon fiber market due to its high strength modulus in comparison to other types of carbon fibers. PAN-based carbon fiber is used more due to its cost-effectiveness and better quality of fiber produced. It gives most yield of carbon fiber.
According to the application, the market for carbon fiber is divided into: Composite, Non-composite. Composite has the largest market share. The carbon fiber market, by application, is led by the composite segment, in terms of value and volume both. The growth is due to the wide-scale use of the composite form of carbon fiber in various industries such as aerospace & defense, automotive, and wind energy.

Carbon Fiber Market: Regional Analysis

In terms of geography, the global carbon fiber market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Europe is a key carbon fiber market. The aerospace & defense industry in the region is at the forefront of innovation with the successful launch of Airbus A320 family and Eurofighter. The low interest rate for corporate income tax and growth in the aerospace & defense industry in the region have helped carbon fiber manufacturers to penetrate this industry in the region. The European Union Automotive Fuel Economy (UNEP) standard has made stringent regulations for automotive OEMs to decrease carbon emissions by using lightweight materials.

Cagr: 8.61%
Largest share area:Europe
Largest share country:Germany
Product Type:PAN, Pitch and Others.
Application:Composite, Non-composite.
Leading Company:Toray Indusries (Japan), Teijin Limited (Japan), SGL Carbon (Germany), Mitsubishi Chemical Holdings (Japan), Hexcel Corporation (US)