Carbon Fiber Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Carbon Fiber Market
The Carbon Fiber Market Size was valued at USD 3.31 billion in 2023, and the Market is now projected to grow from USD 3.59 billion in 2024 to USD 7.05 billion by 2032, exhibiting a CAGR of 8.8% during the forecast period of 2024-2032.
The COVID-19 pandemic had various effects on the global carbon fiber market, with high risks in production, demand, and supply ties across industries. At the start of the pandemic, restrictions and the generally low level of activity in sectors critical to automotive growth like automotive, aerospace, and defense suffered from lockdowns and shutdowns. These sectors have a history of production halts and decreased usage, which also diminished the demand for carbon fiber products, impeding the fall of Carbon Fiber Market Growth.
The demand for Carbon Fiber has risen due to the Increasing demand in the Automotive Industry, resulting in the expansion of Carbon Fiber Market share globally. Carbon fiber has hence been applied in automotive manufacturing in attempts at formulating lighter and more fuel-efficient vehicles. This trend is being propelled by the rise of vehicles as reducing vehicle weight is essential, for increasing the range and performance of electric cars.
Moreover, Recent developments in carbon fiber involve progress in fabrication technology the introduction of recycling methods for carbon fibers and improvements in carbon fiber manufacturing processes. These advancements, in recycling have enabled technicians, researchers and manufacturers to recycle carbon fiber composites for use making their life cycle more environmentally friendly. Also, there are attempts gradually made to make the process of carbon fiber production greener, with the use of bio-sourced Lignin material among others.
Comprehensive Analysis of Carbon Fiber Market
The Carbon fiber market is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the Chemical and Advanced Materials Industry. These Segmentations are methodically segregated by Precursor, by Tow, and by Application. The Precursor include PAN and Pitch. The Tow include Large Tow and aSmall Tow. However, the Application include Aviation, Aerospace and Defense, Automotive, Wind Turbines, Sports & Leisure, Construction, and Others.
The European Region leads the Immunology Market by benefitting a market size of USD 1.06 billion in 2023 due to the numerous electric car manufacturers, and the growing desire for light and environmentally friendly automobiles.
The top players in the market play a crucial role in the Chemical and Advanced Materials Industry assuring industrial prospectus growth and setting market standards. These players include Toray industries, Inc. (Japan), Solvay (Belgium), Nippon Graphite Fiber Co., Ltd. (Japan), TEIJIN LIMITED (Japan), Hexcel Corporation (US), ZOLTEK Corporation (US), HYOSUNG ADVANCED MATERIALS (South Korea), Advanced Composites Inc. (US), Mitsubishi Chemical Carbon Fiber and Composites, Inc. (US), Formosa M Co., Ltd. (South Korea). These market players provide a level playing competitive landscape.
In December 2022, Solvay collaborated with the Trillium for the manufacture of bio-based acrylonitrile for fabricating carbon fiber; it is used in automobiles, airplanes, household equipment, energy, etc.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 8.8% from 2024 to 2032
Unit Value (USD Billion) and Volume (Tons)
Segmentation By Precursor
PAN
Pitch
By Tow
Large Tow
Small Tow
By Application
Aviation, Aerospace & Defense
Automotive
Wind Turbines
Sports & Leisure
Construction
Others
By Region
North America (By Precursor, By Tow, By Application, By Country)
- U.S. (By Precursor, By Tow, By Application)
- Canada (By Precursor, By Tow, By Application)
Europe (By Precursor, By Tow, By Application, By Country)
- Germany (By Precursor, By Tow, By Application)
- U.K. (By Precursor, By Tow, By Application)
- France (By Precursor, By Tow, By Application)
- Russia (By Precursor, By Tow, By Application)
- Rest of Europe (By Precursor, By Tow, By Application)
Asia Pacific (By Precursor, By Tow, By Application, By Country)
- China (By Precursor, By Tow, By Application)
- India (By Precursor, By Tow, By Application)
- Japan (By Precursor, By Tow, By Application)
- ASEAN (By Precursor, By Tow, By Application)
- Rest of Asia Pacific (By Precursor, By Tow, By Application)
Latin America (By Precursor, By Tow, By Application, By Country)
- Brazil (By Precursor, By Tow, By Application)
- Mexico (By Precursor, By Tow, By Application)
- Rest of Latin America (By Precursor, By Tow, By Application)
Middle East & Africa (By Precursor, By Tow, By Application, By Country)
- Middle East (By Precursor, By Tow, By Application)
- Africa (By Precursor, By Tow, By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Industry Developments –Mergers, Acquisitions and Partnerships
- 4.2. Porters Five Forces Analysis
- 4.3. Technological Development
- 4.4. Impact of Covid-19
- 5. Global Automotive RADAR Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Definitions
- 5.2. Market Analysis, Insights and Forecast – By Range
- 5.2.1. Short-Range Radar
- 5.2.2. Medium-Range Radar
- 5.2.3. Long-Range Radar
- 5.3. Market Analysis, Insights and Forecast – By Frequency
- 5.3.1. 24 Ghz
- 5.3.2. 77 Ghz
- 5.4. Market Analysis, Insights and Forecast – By Application
- 5.4.1. Adaptive Cruise Control (ACC)
- 5.4.2. Autonomous Emergency Braking (AEB)
- 5.4.3. Forward-Collision Warning System (FCWS)
- 5.4.4. Blind Spot Detection (BSD)
- 5.4.5. Intelligent Parking Assistance
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia pacific
- 5.5.4. Rest of the world
- 6. North America Automotive RADAR Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Definitions
- 6.2. Market Analysis, Insights and Forecast – By Range
- 6.2.1. Short-Range Radar
- 6.2.2. Medium-Range Radar
- 6.2.3. Long-Range Radar
- 6.3. Market Analysis, Insights and Forecast – By Frequency
- 6.3.1. 24 GHZ
- 6.3.2. 77 GHz
- 6.4. Market Analysis, Insights and Forecast – By Application
- 6.4.1. Adaptive Cruise Control (ACC)
- 6.4.2. Autonomous Emergency Braking (AEB)
- 6.4.3. Forward-Collision Warning System (FCWS)
- 6.4.4. Blind Spot Detection (BSD)
- 6.4.5. Intelligent Parking Assistance
- 6.5. Market Analysis – By Country
- 6.5.1. The U.S.
- 6.5.1.1. By Range
- 6.5.1.2. By Frequency
- 6.5.1.3. By Application
- 6.5.2. Canada
- 6.5.2.1. By Range
- 6.5.2.2. By Frequency
- 6.5.2.3. By Application
- 6.5.3. Mexico
- 6.5.3.1. By Range
- 6.5.3.2. By Frequency
- 6.5.3.3. By Application
- 7. Europe Automotive RADAR Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Definitions
- 7.2. Market Analysis, Insights and Forecast – By Range
- 7.2.1. Short-Range Radar
- 7.2.2. Medium-Range Radar
- 7.2.3. Long-Range Radar
- 7.3. Market Analysis, Insights and Forecast – By Frequency
- 7.3.1. 24 Ghz
- 7.3.2. 77 Ghz
- 7.4. Market Analysis, Insights and Forecast – By Application
- 7.4.1. Adaptive Cruise Control (ACC)
- 7.4.2. Autonomous Emergency Braking (AEB)
- 7.4.3. Forward-Collision Warning System (FCWS)
- 7.4.4. Blind Spot Detection (BSD)
- 7.4.5. Intelligent Parking Assistance
- 7.5. Market Analysis – By Country
- 7.5.1. The U.K
- 7.5.1.1. Range
- 7.5.1.2. By Frequency
- 7.5.1.3. By Application
- 7.5.2. Germany
- 7.5.2.1. Range
- 7.5.2.2. By Frequency
- 7.5.2.3. By Application
- 7.5.3. France
- 7.5.3.1. Range
- 7.5.3.2. By Frequency
- 7.5.3.3. By Application
- 7.5.4. Rest of Europe
- 7.5.4.1. Range
- 7.5.4.2. By Frequency
- 7.5.4.3. By Application
- 8. Asia Pacific Automotive RADAR Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Definitions
- 8.2. Market Analysis, Insights and Forecast – By Range
- 8.2.1. Short-Range Radar
- 8.2.2. Medium-Range Radar
- 8.2.3. Long-Range Radar
- 8.3. Market Analysis, Insights and Forecast – By Frequency
- 8.3.1. 24 Ghz
- 8.3.2. 77 Ghz
- 8.4. Market Analysis, Insights and Forecast – By Application
- 8.4.1. Adaptive Cruise Control (ACC)
- 8.4.2. Autonomous Emergency Braking (AEB)
- 8.4.3. Forward-Collision Warning System (FCWS)
- 8.4.4. Blind Spot Detection (BSD)
- 8.4.5. Intelligent Parking Assistance
- 8.5. Market Analysis – By Country
- 8.5.1. China
- 8.5.1.1. Range
- 8.5.1.2. By Frequency
- 8.5.1.3. By Application
- 8.5.2. India
- 8.5.2.1. Range
- 8.5.2.2. By Frequency
- 8.5.2.3. By Application
- 8.5.3. Japan
- 8.5.3.1. Range
- 8.5.3.2. By Frequency
- 8.5.3.3. By Application
- 8.5.4. Rest of Asia Pacific
- 8.5.4.1. Range
- 8.5.4.2. By Frequency
- 8.5.4.3. By Application
- 9. Rest of the World Automotive RADAR Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Definitions
- 9.2. Market Analysis, Insights and Forecast – By Range
- 9.2.1. Short-Range Radar
- 9.2.2. Medium-Range Radar
- 9.2.3. Long-Range Radar
- 9.3. Market Analysis, Insights and Forecast – By Frequency
- 9.3.1. 24 Ghz
- 9.3.2. 77 Ghz
- 9.4. Market Analysis, Insights and Forecast – By Application
- 9.4.1. Adaptive Cruise Control (ACC)
- 9.4.2. Autonomous Emergency Braking (AEB)
- 9.4.3. Forward-Collision Warning System (FCWS)
- 9.4.4. Blind Spot Detection (BSD)
- 9.4.5. Intelligent Parking Assistance
- 10. Competitive Analysis
- 10.1. Key Industry Development
- 10.2. Global Market Ranking Analysis (2023)
- 10.3. Competition Dashboard
- 10.4. Comparative Analysis – Major Players
- 10.5. Company Profiles
- 10.5.1. Robert Bosch GmbH (Germany)
- 10.5.1.1. Overview
- 10.5.1.2. Products & Services
- 10.5.1.3. SWOT Analysis
- 10.5.1.4. Recent Developments
- 10.5.1.5. Strategies
- 10.5.1.6. Financials (Based on Availability)
- 10.5.2. Continetal AG (Germany)
- 10.5.2.1. Overview
- 10.5.2.2. Products & Services
- 10.5.2.3. SWOT Analysis
- 10.5.2.4. Recent Developments
- 10.5.2.5. Strategies
- 10.5.2.6. Financials (Based on Availability)
- 10.5.3. Denso Corporation (Japan)
- 10.5.3.1. Overview
- 10.5.3.2. Products & Services
- 10.5.3.3. SWOT Analysis
- 10.5.3.4. Recent Developments
- 10.5.3.5. Strategies
- 10.5.3.6. Financials (Based on Availability)
- 10.5.4. Aptiv (Ireland)
- 10.5.4.1. Overview
- 10.5.4.2. Products & Services
- 10.5.4.3. SWOT Analysis
- 10.5.4.4. Recent Developments
- 10.5.4.5. Strategies
- 10.5.4.6. Financials (Based on Availability)
- 10.5.5. Autoliv Inc. (Sweden)
- 10.5.5.1. Overview
- 10.5.5.2. Products & Services
- 10.5.5.3. SWOT Analysis
- 10.5.5.4. Recent Developments
- 10.5.5.5. Strategies
- 10.5.5.6. Financials (Based on Availability)
- 10.5.6. Veoneer (Sweden)
- 10.5.6.1. Overview
- 10.5.6.2. Products & Services
- 10.5.6.3. SWOT Analysis
- 10.5.6.4. Recent Developments
- 10.5.6.5. Strategies
- 10.5.6.6. Financials (Based on Availability)
- 10.5.7. Valeo S.A (France)
- 10.5.7.1. Overview
- 10.5.7.2. Products & Services
- 10.5.7.3. SWOT Analysis
- 10.5.7.4. Recent Developments
- 10.5.7.5. Strategies
- 10.5.7.6. Financials (Based on Availability)
- 10.5.8. NXP Semiconductors N.V. (Netherlands)
- 10.5.8.1. Overview
- 10.5.8.2. Products & Services
- 10.5.8.3. SWOT Analysis
- 10.5.8.4. Recent Developments
- 10.5.8.5. Strategies
- 10.5.8.6. Financials (Based on Availability)
- 10.5.9. Texas Instruments Incorporated (US)
- 10.5.9.1. Overview
- 10.5.9.2. Products & Services
- 10.5.9.3. SWOT Analysis
- 10.5.9.4. Recent Developments
- 10.5.9.5. Strategies
- 10.5.9.6. Financials (Based on Availability)
- 10.5.10. ZF Friedrichshafen AG (Germany)
- 10.5.10.1. Overview
- 10.5.10.2. Products & Services
- 10.5.10.3. SWOT Analysis
- 10.5.10.4. Recent Developments
- 10.5.10.5. Strategies
- 10.5.10.6. Financials (Based on Availability)
- 10.5.11. Infineon Technologies AG (Germany)
- 10.5.11.1. Overview
- 10.5.11.2. Products & Services
- 10.5.11.3. SWOT Analysis
- 10.5.11.4. Recent Developments
- 10.5.11.5. Strategies
- 10.5.11.6. Financials (Based on Availability)
- 10.5.12. Renesas Electronics Corporation (Japan)
- 10.5.12.1. Overview
- 10.5.12.2. Products & Services
- 10.5.12.3. SWOT Analysis
- 10.5.12.4. Recent Developments
- 10.5.12.5. Strategies
- 10.5.12.6. Financials (Based on Availability)
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