Fibers consisting of 92% or greater carbon weight are known as carbon fiber, which offers properties such as light weightiness, elasticity, stiffness, strength, high temperature resistance, high damping properties, and chemical inertness.
The global carbon fiber market was valued at $2,766 million in 2017, and is anticipated to reach $5,991 million by 2025, growing at a CAGR of 11.7% during the forecast period. In terms of volume, the market is anticipated to reach 197 kilotons by 2025, growing at a CAGR of 14.3%. It is segmented based on raw material, type, form, end-use industry, and geography. The demand for carbon fiber has increased owing to its increased use in wind turbines, automotive, sailing/yacht building, marine, and aerospace & defense industry.
Based on the raw material, the market is bifurcated into pan-based and pitch-based & rayon-based carbon fiber. Pan-based carbon fiber segment is projected to grow at the highest CAGR in the future. Based on the type, the market is divided into continuous, long, and short carbon fibers. Continuous carbon fiber dominated the market in 2017 and is also projected to register the highest growth rate. Aerospace & defense, sports/leisure, wind turbines, molding compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., misc. consumer, and sailing/yacht building are the various end-use industries for this market. Aerospace & defense segment was the largest revenue contributor in 2017, whereas the wind turbine segment is projected to witness the highest CAGR. Increased penetration of carbon fiber in the automotive industry and rise in demand for carbon fiber in aerospace & defense sector drive the market growth. However, the growth of carbon fiber market is restricted owing to its high prices & unavailability.
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America led the market, both in terms of value & volume, in 2017, due to the presence of major carbon fiber suppliers and manufacturers. It is also projected to register the highest demand for carbon fiber, owing to the increased demand from aerospace & defense, automotive, wind turbine, and sports/leisure industries.
The companies profiled in the report are as follows:
- Toray Industries Inc.
- SGL Carbon SE
- Solvay SA
- Cytec Industries Inc.
- Mitsubishi Chemical Holdings Corporation
- Hyosung Corporation
- Teijin Limited
- DowAksa Advanced Composites Holding B.V.
- OJSC "Svetlogorskkhimvolokno"
- Nippon Steel & Sumitomo Metal Corporation
KEY MARKET BENEFITS
- The report provides an in-depth analysis of the current trends, drivers, and dynamics of the global carbon fiber market to elucidate the prevailing opportunities and the probable investment pockets.
- It offers qualitative trends as well as quantitative analysis from 2017 to 2025 to assist the stakeholders to understand the market scenario.
- A detailed analysis of the key segments demonstrates the consumption of carbon fiber in different applications across various industries.
- Competitive intelligence highlights the business practices, strategies, and developments followed by key business players across the geographies.
KEY MARKET SEGMENTS
BY RAW MATERIAL
- Pan-Based Carbon Fiber
- Pitch-Based & Rayon-Based Carbon Fiber
- Continuous Carbon Fiber
- Long Carbon Fiber
- Short Carbon Fiber
BY END-USER INDUSTRY
- Aerospace & Defense
- Wind Turbines
- Molding & Compounds
- Pressure Vessels
- Civil Engineering
- Pultrusion Misc.
- Misc. Consumer
- Sailing/Yacht Building
- Others (Misc. Energy, Oil & Gas, Medical and Industrial Rollers)
- North America ?U.S.
- Europe ?UK
?Rest of Europe
- Asia-Pacific ?China
?Rest of Asia-Pacific
- LAMEA ?Brazil
?Rest Of LAMEA
OTHER KEY PLAYERS IN THE MARKET VALUE CHAIN INCLUDE THE FOLLOWING:
- Formosa Plastic Corporation
- Bluestar Fiber Company Ltd.
- Zoltek Companies
- Crosby Composites
- Plasan Carbon Composites
*The above list of companies is not profiled but can be profiled based on client request.