Global Carbon Fiber Market Size study & Forecast, by Raw Material (Pan-Based carbon fiber, Pitch-Based & Rayon-Based carbon fiber), by Type (Continuous carbon fiber, Long carbon fiber, Short carbon fiber), by Form (Composite carbon fiber, Non-Composite ca

Global Carbon Fiber Market Size study & Forecast, by Raw Material (Pan-Based carbon fiber, Pitch-Based & Rayon-Based carbon fiber), by Type (Continuous carbon fiber, Long carbon fiber, Short carbon fiber), by Form (Composite carbon fiber, Non-Composite carbon fiber), by End-Use Industry (Aerospace & Defense, Sports/Leisure, Wind Turbines, Molding & Compounds, Automotive, Others) and Regional Analysis, 2023-2030

Global Carbon Fiber Market is valued at approximately USD XXX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Carbon fiber is made of atoms of carbon with a diameter ranging from 5 to 10 micrometers. It also comes by the name graphite fibre. These fibres have stronger chemical resistance, higher strength-to-weight ratio, lower thermal expansion, higher tensile strength, and higher high-temperature tolerance. These characteristics of the carbon-based fibres make them the material of choice for applications in the fields of aerospace, automotive, defense, building, wind turbines, and sports. The demand for lightweight vehicles and automobiles is expected to expand, which would propel the market for carbon fibre. Key elements influencing the market outlook include the rising demand for fuel-efficient automobiles and stringent regulatory rules addressing carbon emissions. Also, growing demand for high-performance carbon fiber in aerospace & defense is anticipated to support the market growth.

Moreover, the rising demand for electric vehicles is indeed supporting the growth of the carbon fiber market. Carbon fiber is a lightweight material that has a high strength-to-weight ratio, making it an ideal material for use in electric vehicles. By using carbon fiber components in electric vehicles, manufacturers can reduce the weight of the vehicle, which can help to improve its energy efficiency and range. According to International Energy Agency (IEA), in 2020, the number of electric vehicles sold in the United States was 295000 and the number increased significantly and reached 631000 in 2021. As a result, the rising demand for EVs is anticipated to propel the market growth. Additionally, rising application of carbon fiber in wind turbines and increase in the use of carbon fiber in medical industry is anticipated to create a lucrative opportunity for the market during the forecast period. However, the high cost of Carbon Fiber stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Carbon Fiber Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Europe dominated the market in 2022 owing to the presence of a wide base of electric car manufacturers, increasing demand for lightweight and fuel-efficient vehicles, and growth of the aerospace & defense industry in the region. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as increasing urbanization and rising public investment in infrastructure. Market expansion will be driven by the expanding usage of construction composites in China and India while constructing homes, bridges, and tunnels. A significant market opportunity for product adoption in the construction industry has been established by the presence of top building companies throughout Asia and the Pacific. The need for products in the region is also being driven by the growing investment in the aviation, aerospace, defense, and renewable energy industries.

Major market players included in this report are:
Toray Industries, Inc. (Japan)
Solvay (Belgium)
Nippon Graphite Fiber Co., Ltd. (Japan)
TEIJIN LIMITED (Japan)
Hexcel Corporation (U.S.)
ZOLTEK Corporation (U.S.)
HYOSUNG ADVANCED MATERIALS (South Korea)
Advanced Composites Inc. (U.S.)
Mitsubishi Chemical Carbon Fiber and Composites, Inc. (U.S.)
Formosa M Co., Ltd. (South Korea)

Recent Developments in the Market:
In February 2021, Teijin Limited launched the brands of carbon fibre intermediate materials known as Tenax BM (beam series) and Tenax PW (power series) for use in sports equipment. Due to its outstanding toughness and durability, this launch will aid the business in maximising power.

Global Carbon Fiber Market Report Scope:
Historical Data – 2020 - 2021
Base Year for Estimation – 2022
Forecast period - 2023-2030
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Raw Material, Type, Form, End-Use Industry, Region
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Raw Material:
Pan-Based carbon fiber
Pitch-Based & Rayon-Based carbon fiber

By Type:
Continuous carbon fiber
Long carbon fiber
Short carbon fiber

By Form:
Composite carbon fiber
Non-Composite carbon fiber

By End-Use Industry:
Aerospace & Defense
Sports/Leisure
Wind Turbines
Molding & Compounds
Automotive
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Toray Industries, Inc. (Japan)
Solvay (Belgium)
Nippon Graphite Fiber Co., Ltd. (Japan)
TEIJIN LIMITED (Japan)
Hexcel Corporation (U.S.)
ZOLTEK Corporation (U.S.)
HYOSUNG ADVANCED MATERIALS (South Korea)
Advanced Composites Inc. (U.S.)
Mitsubishi Chemical Carbon Fiber and Composites, Inc. (U.S.)
Formosa M Co., Ltd. (South Korea)

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