Carbon Fiber Market by Raw Material(Pan-Based Carbon Fiber, Pitch-Based Carbon Fiber, and Rayon-Based Carbon Fiber), By Fiber Type(Virgin Carbon Fiber and Recycled Carbon Fiber), By Product Type, By Modulus, By Application, ByEnd-Use Industry and By Region- Global Opportunities & Forecast, 2020-2027
Published Date: Aug-2020 | Report Format: Excel/PPT | Report Code: CF09A-00-0719
Carbon fibers refer to the fibers that are composed of mostly carbon atoms and have a diameter of about 5-10 micrometers. These fibers are mostly used for reinforcement of different polymers owing to their high specific strength property. The carbon fiber offers numerous remarkable advantages such as high stiffness, less weight, high-temperature tolerance, low thermal expansion, and high tensile strength.
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The global carbon fiber marketis likely to experience strong demand in the next six years. The accelerating demand for carbon fiber among the aerospace & defense, automotive, and wind energy sectors is the primary factor that is surging the demand of the carbon fiber market. Moreover, the increasing automotive demand, along with the rising need for lightweight vehicles is further creating numerous growth opportunities in the market. With the rising environmental concerns, the consumers are now looking for fuel-efficient vehicles to follow the government regulations related to the automotive pollution and to decrease the amount of CO2 emission from the vehicles. Continuous expansion in the aerospace industryin the North American and European countries, will further energize the demand of the global carbon fiber market.
With the growing disposable income and globalization, there has been a drastic increase in the demand for commercial aviation, especially in the aerospace industry. The consumers are now focusing on their health and are getting involved in different sports and physical activities. This has led to the application of carbon fiber in several sports and leisure equipment to meet the accelerating demand of the consumers. All these factors will attract many end-users to opt for carbon fiber over the coming years. The growing propylene production has increased the demand for polyacrylonitrile, which is a primary raw material for carbon fiber production. The expanding number of R&D activities in the major regions is another factor that is contributing to the growth of the carbon fiber market. On the other hand, the COVID-19 outbreak has created several uncertainty in the market, which is posing a negative trend for both the automotive market and the demand for carbon fiber. However, the market is expected to bounce back in 2021 at a significant rate. s
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On the basis of raw material, the pan-based carbon fiber segment is predicted to dominate the carbon fiber market over the forecast period. The growing application of this carbon fiber in variousindustriessuch as automotive, sports & recreation, aerospace & defense, wind energy, and other industries, is a significant factor that is propelling the demand of the segment in the market. This increasing application is due to the remarkable properties of Pan-based carbon fiber, such as high strength modulus, highly cost-effective, and produces a better quality of fiber. These properties of pan-based carbon fiber will attract a large number of end-users to opt for pan-Based carbon fiber.
Based on the end-use Industry, the aerospace & defense end-use industry segment is expected to witness a faster CAGR during the forecast period owing to the growing production of aircraft, especially by Boeing and Airbus. These companies are experiencing an upsurge in the demand amounting to 9,000 new wide-bodied aircraft over the next 20 years. The combination of these factors is surging the demand of the segment in the carbon fibers market.
On the basis of product type, the short carbon fiber segment is projected to grow at a higher CAGR during the forecast period. This is attributed to the accelerating adoption of these carbon fibers in the aerospace industry due to the high tensile strength and high modulus.
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On the basis of the region, the European region is projected to lead the carbon fiber market from 2020 to 2027. The market in this region is witnessing strong demand due to the increasing demand for materials having excellent strength, are lightweight, and corrosion resistance properties. Moreover, the large presence of electric car manufacturers and aircraft manufacturers, along with the growing number of offshore wind farm installations across the European countries will further surge the demand of the carbon fibers market in this region. NumerousEuropean countries are the home to the leading global automotive manufacturers including Fiat, Bentley, and BMW. These manufacturers are emphasizing on using carbon fibers in various structural automotive parts including bonnets, frontends, and bumpers. These factors are boosting the demand of the market in this region.
Various notable players operating in the market, includeHexcel Corporation, Formosa Plastics Corporation, TEIJIN Limited, Hyosung, Cytec Industries Inc., Mitsubishi Rayon Co. Ltd., Toray Industries Inc., SGL Group, Solvay, Jiangsu Hengshen Fibre Materials Co. Ltd., and Dowaksa, among others.
Key Developments:
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- In 2020, TEIJIN Limited announced to build its new Teijin Automotive Center Europe GmbH (TACE) base in Germany for technical functions within the company’s automotive composite business.
- In 2019, Hyosung announced to expand its current annual production of carbon fiber from 2,00 tons on a single line to 24,000 tons on ten lines by 2028. The company entered into a partnership with South Jeolla Province and Jeonju City to install and extendthe production facilities and investment support.
The global carbon fiber market segmented into raw material, fiber type, product type, modulus, application, end-use industry, and region. Based on the raw material, the market has been segmented into Pan-Based Carbon Fiber, Pitch-Based Carbon Fiber, and Rayon-Based Carbon Fiber. Based on the fiber type, the market has been segmented into Virgin Carbon Fiber and Recycled Carbon Fiber. Based on the product type, the market has been segmented into Continuous Carbon Fiber, Long Carbon Fiber, and Short Carbon Fiber. Based on the Modulus, the market has been segmented into standard modulus, intermediate modulus, and high modulus. Based on the application, the market has been segmented into composite and non-composite. Based on the end-use industry, the market has been segmented into Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, Pipe & Tank, Civil Engineering, electrical & electronics, marine, other end-use industries.
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Key questions answered in this research report:
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- At what pace is global Carbon Fibermarket growing? What will be the growth trend in the future?
- What are the key drivers and restraints in Carbon Fibermarket? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Carbon Fibermarket?
- Which Raw Material generated maximum revenues in 2019 and identify the most promising Raw Materialduring the forecast period?
- What are the various Fiber Types of global Carbon Fibermarket and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Base Year |
2019 |
Market Forecast Period |
2020-2027 |
Market Revenues Currency |
USD Million |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Raw Material, By Fiber Type, By Product Type, By Modulus, By Application, By End-Use Industry, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Hexcel Corporation, Formosa Plastics Corporation, TEIJIN Limited, Hyosung, Cytec Industries Inc., Mitsubishi Rayon Co. Ltd., Toray Industries Inc., SGL Group, Solvay, Jiangsu Hengshen Fibre Materials Co. Ltd., and Dowaksa, among others; a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Carbon Fiber Market by Raw Material
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- PAN–based carbon fiber
- Pitch–based carbon fiber
- Rayon–based carbon fiber
Global Carbon Fiber Market by Fiber Type
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- Virgin carbon fiber
- Recycled carbon fiber
Global Carbon Fiber Marketby Product Type
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- Continuous carbon fiber
- Long carbon fiber
- Short carbon fiber
Global Carbon Fiber Marketby Modulus
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- Standard modulus
- Intermediate modulus
- High modulus
Global Carbon Fiber Marketby Application
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- Composite
- Prepreg
- Molding Compound
- Woven Fabric
- Non-composite
- Composite
Global Carbon Fiber Marketby End-Use Industry
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- Aerospace &defense
- Commercial Aircraft
- Regional Jets
- General Aviation
- Rotorcraft
- Defense Aircraft
- Others
- Automotive
- Interior Parts
- Exterior Parts
- Wind Energy
- Sporting goods
- Electrical & electronics
- Civil Engineering
- Pipe & Tank
- Marine
- Yachts
- Catamarans
- Racing Boats
- Others
- Aerospace &defense
Global Carbon FiberMarket by Region
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- North America Carbon Fiber Market(Option 1: As a part of the free 25% customization)
- North America Carbon Fiber Market by Raw Material
- North America Carbon Fiber Market by Fiber Type
- North America Carbon Fiber Market by Product Type
- North America Carbon Fiber Market by Modulus
- North America Carbon Fiber Market by Application
- North America Carbon Fiber Market by End-Use Industry
- USCarbon Fiber MarketAll-Up
- CanadaCarbon Fiber Market All-Up
- EuropeCarbon Fiber Market(Option 2: As a part of the free 25% customization)
- Europe Carbon Fiber Market by Raw Material
- Europe Carbon Fiber Market by Fiber Type
- Europe Carbon Fiber Market by Product Type
- Europe Carbon Fiber Market by Modulus
- Europe Carbon Fiber Market by Application
- Europe Carbon Fiber Market by End-Use Industry
- UKCarbon Fiber Market All-Up
- GermanyAll-Up Carbon Fiber Market All-Up
- France Carbon Fiber Market All-Up
- SpainCarbon Fiber Market All-Up
- Rest of EuropeCarbon Fiber Market All-Up
- Asia-PacificCarbon Fiber Market(Option 3: As a part of the free 25% customization)
- Asia-Pacific Carbon Fiber Market by Raw Material
- Asia-Pacific Carbon Fiber Market by Fiber Type
- Asia-Pacific Carbon Fiber Market by Product Type
- Asia-Pacific Carbon Fiber Market by Modulus
- Asia-Pacific Carbon Fiber Market by Application
- Asia-Pacific Carbon Fiber Market by End-Use Industry
- ChinaCarbon Fiber Market All-Up
- IndiaCarbon Fiber Market All-Up
- Japan Carbon Fiber Market All-Up
- Rest of APACCarbon Fiber Market All-Up
- RoWCarbon Fiber Market(Option 4: As a part of the free 25% customization)
- RoW Carbon Fiber Market by Raw Material
- RoW Carbon Fiber Market by Fiber Type
- RoW Carbon Fiber Market by Product Type
- RoW Carbon Fiber Market by Modulus
- RoW Carbon Fiber Market by Application
- RoW Carbon Fiber Market by End-Use Industry
- BrazilCarbon Fiber Market All-Up
- South AfricaCarbon Fiber Market All-Up
- Saudi Arabia Carbon Fiber Market All-Up
- UAE Carbon Fiber Market All-Up
- Rest of world (remaining countries of the LAMEA region)Carbon Fiber Market All-Up
- North America Carbon Fiber Market(Option 1: As a part of the free 25% customization)
Major Players Operating the Carbon Fiber(Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Hexcel Corporation
- Formosa Plastics Corporation
- TEIJIN Limited
- Hyosung
- Cytec Industries Inc.
- Mitsubishi Rayon Co. Ltd.
- Toray Industries Inc.
- SGL Group
- Solvay
- Jiangsu Hengshen Fibre Materials Co. Ltd.
- Dowaksa
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The report is used by the purchaser (One Individual) only
Multi-User License:Report is shared with maximum 5 users (employees) including the purchaser of the purchasing corporation only
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Report is shared with unlimited user (employees) of the purchasing corporation only
Carbon Fiber Market by Raw Material(Pan-Based Carbon Fiber, Pitch-Based Carbon Fiber, and Rayon-Based Carbon Fiber), By Fiber Type(Virgin Carbon Fiber and Recycled Carbon Fiber), By Product Type, By Modulus, By Application, ByEnd-Use Industry and By Region- Global Opportunities & Forecast, 2020-2027
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