Global Carbon Fiber Market Expected To Reach XX Million By 2025
According to a new report published by Reports Monitor titled, “ Global Carbon Fiber Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global carbon fiber market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Carbon fiber has a wide application range, right from sports to aerospace and automotive industries. It offers features such as high tensile strength, high temperature tolerance, stiffness and light weight making it very beneficial and functional in variety of applications.
Carbon fiber provides the freedom to manufactures to design sports equipment such as rackets, snowboards, hockey sticks and more efficiently, increasing its demand in the sports sector. Another factor escalating market growth is the increasing demand to build light weight, energy efficient and eco-friendly vehicles. For instance, In December 2017, Zoltek featured its PX35 carbon fiber on the Uniti Electric car. By utilizing Zoltek PX35 carbon fiber, Uniti was able to create an electric car that is light weight without sacrificing safety or comfort. The need for carbon fiber in aerospace and defense sector is also fuelling market growth. On the other hand, high product cost and high energy consumption for production of carbon fiber may hamper growth of market.
The Global Carbon Fiber market research report provides key insights on the growth opportunities of this market based on regions, applications and upcoming technologies. It includes detailed analysis of the current market situations such as market size, upcoming developments and investments. Major advancements and key strategies of major companies such as mergers and acquisitions, value chain analysis and swot analysis have also been included in this report. The report has been composed by carrying out in-depth analysis of both primary and secondary data sources.
The global carbon fiber market is analyzed across segments such as raw materials, form and end-use industry. On the basis of the type of raw material used, the market is divided into polyacrylonitrile (PAN) based, petroleum pitch based and rayon based. In terms of the form, the market is segmented into two types mainly, composite form and non-composite form. On the basis of the end-use industry, the market is segmented into automotive, aerospace and defense, sports equipment, wind turbines, construction, moulding and compounding, civil engineering, marine and others. The aerospace and defense industry is escalating the carbon fiber market. According to Royal Society of Chemistry (RSC), the new Airbus A380, world’s largest passenger airline, makes use of composites in its design. More than 20% of the A380 is made of composites, mainly plastic reinforced with carbon fiber. High product cost may be a problem for the growth of this market.
North America and Europe are rising in this market due to factors such as increasing demand for carbon fiber in the automotive and aerospace industry. Owing to large number of manufacturers of carbon fiber in Japan is also influencing market. The carbon fiber market is analyzed across regions North America, Europe, Asia Pacific (APAC) and Latin America, Middle East and Africa (LAMEA). The key vendors in this market are: Hexcel Corporation, Cytec Industries, Mitsubishi Rayon Co. Ltd., Teijin Limited, Hyosung, Toray Industries Inc., SGL Group, Dowaksa, Zoltek, TohoTenax and Nippon Graphite Fiber Corporation.
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