Global Carbon Fiber Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Carbon Fiber Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Carbon Fibers are fibers about 5–10 micrometers in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages including high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance and low thermal expansion. These properties have made carbon fiber very popular in aerospace, civil engineering, military, and motorsports, along with other competition sports. However, they are relatively expensive when compared with similar fibers, such as glass fibers or plastic fibers.

Market Overview:

The latest research study on the global Carbon Fiber market finds that the global Carbon Fiber market reached a value of USD 4411.66 million in 2022. It’s expected that the market will achieve USD 7583.08 million by 2028, exhibiting a CAGR of 9.45% during the forecast period.

Drivers

With the development of economy and technology, huge downstream markets, Carbon fiber is developing very fast in China and India, especially in the fields of industry, aerospace, sporting goods, etc.

Limitations

Strong reliance on technology, at the beginning, a large amount of R&D investment is needed, and it is necessary to study and accumulate in order to improve the quality of carbon fiber products. At present, carbon fiber advanced technology is mainly controlled in developed countries such as Japan and the United States.
In Japan and America, the government supervision of high-tech industries is very strict, and high-end technologies are basically closed. It is difficult to form a national technical exchange and learning in the true sense. For the developing and backward countries, the backwardness of technology has become an obstacle to the large-scale production of carbon fiber.

Region Overview:

From 2022-2027, Europe is estimated to witness robust growth prospects.

Company Overview:

Toray (Zoltek) is one of the major players operating in the Carbon Fiber market, holding a share of 40.32% in 2018.

Toray manufactures, processes, and sells fibers and textiles, plastics and chemicals, IT-related products, carbon fiber composite materials, environment and engineering products, and life science products. The company offers filament yarns, staple fibers, spun yarns, woven and knitted fabrics of nylon, polyester and acrylics; non-woven fabrics; ultra-microfiber non-woven fabric with suede-texture; and apparel products. It also provides nylon, ABS, PBT, PPS, other resins and molded products, polyolefin foam products, films and processed film products, raw materials for synthetic fibers and plastics, zeolite catalysts, and veterinary medicines, as well as fine chemicals.

SGL Group manufactures and sells carbon and graphite products in Europe, Asia, Africa, Australia, and Latin and North America. The company operates in two business K Ton, Composites-Fibers & Materials; and Graphite Materials & Systems. It provides process solutions for chemical and related industries; and equipment solutions, such as heat exchangers, quenchers, pumps, rupture disks, piping products, expansion joints/bellows, dip and intel pipes, liners and lining services, and other components, as well as columns, reactors, and vessels.

Segmentation Overview:

Among different product types, Polyacrylonitrile (PAN) based segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Aerospace & Defense segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Carbon Fiber market covered in Chapter 3:

Bluestar
SGL Group
Mitsubishi
Taekwang Industrial
Formosa Plastics
Toray (Zoltek)
Hengshen
Zhongfu-Shenying
DowAksa
ELG
Teijin Limited
Solvay
Hexcel
Hyosung

In Chapter 4 and Chapter 14.2, on the basis of types, the Carbon Fiber market from 2018 to 2029 is primarily split into:

Polyacrylonitrile (PAN) Based
Pitch-based
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Carbon Fiber market from 2018 to 2029 covers:

Automotive
Aerospace & Defense
Wind Turbines
Sports equipment
Molding & Compounding
Construction
Pressure vessels
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)