Milled Carbon Fiber Market by Fiber Type (Virgin, Recycled), Application (Reinforcements, Coatings & Adhesives), End-Use Industry (Automotive, Electrical & Electronics, Sporting Goods, Aerospace & Defense) & Region - Forecast to 2029

Milled Carbon Fiber Market by Fiber Type (Virgin, Recycled), Application (Reinforcements, Coatings & Adhesives), End-Use Industry (Automotive, Electrical & Electronics, Sporting Goods, Aerospace & Defense) & Region - Forecast to 2029

The milled carbon fiber market is estimated at USD 182 million in 2024 and is projected to reach USD 302 million by 2029, at a CAGR of 10.8% from 2024 to 2029. Virgin milled carbon fiber is a type of carbon fiber that has not been recycled or reused. It is produced directly from raw materials and has not undergone any previous processing or recycling. Virgin milled carbon fiber is available in powdered form with short strands typically 80-100 micrometers in length. It is compatible with both thermoset and thermoplastic resin systems. Virgin milled carbon fiber is used in industries such as automotive and transportation, aerospace and defense, wind energy, sports and leisure goods, and construction and infrastructure. It is particularly suitable for applications that require high-performance materials with low weight, such as in the production of lightweight components for aircraft and vehicles, and in the manufacturing of high-performance sports equipment.

‘‘In terms of value, coatings and adhesives segment accounted for the second largest share of the overall milled carbon fiber market.’’

Milled carbon fibers are used in various applications, including coatings and adhesives, due to their unique properties. Milled carbon fibers enhance the performance of coatings and adhesives by providing electrostatic dissipation, mechanical properties, dimensional stability, and electrical conductivity. In coatings, milled carbon fibers improve the mechanical properties, conductivity, corrosion and abrasion resistance of the material. In adhesives, they enhance the adhesion to thermoplastic matrices, reduce the propensity for voids and harmful volatiles during processing, and provide improved mechanical and physical properties.

‘‘In terms of value, sporting goods segment accounted for the third largest share of the overall milled carbon fiber market.’’

In 2023, the sporting goods segment accounted for the third largest share of the milled carbon fiber market, in terms of value. Milled carbon fibers play a crucial role in various sporting goods applications, enhancing the performance and characteristics of equipment across different sports. These fibers are utilized in a wide range of products, including tennis rackets, badminton rackets, golf clubs, fishing rods, and bicycles, among others. In tennis and badminton rackets, carbon fiber composites provide lightweight, high rigidity, and vibration damping properties, improving player comfort and performance. Golf clubs benefit from carbon fiber's ability to reduce weight by 10 to 40%, enhancing swing speed and ball acceleration. These applications highlight the versatility and performance benefits of milled carbon fibers in sporting goods, driving advancements in athletic equipment design and functionality.

“During the forecast period, the milled carbon fiber market in North America region is projected to be the third largest region.”

The milled carbon fiber market for structural applications in this region is driven by the presence of established players and stringent environmental regulations that emphasize the use of lightweight and fuel-efficient materials. Various industries, including automotive, electrical & electronics, and sports equipment, are increasingly adopting lightweight materials to enhance performance. Leading companies like Zoltek Corporation and Stanford Advanced Materials are ramping up their R&D efforts to develop new products, aligning with market trends and meeting the growing demand for milled carbon fiber.

This study has been validated through primary interviews with industry experts globally. These primary sources have been divided into the following three categories:

By Company Type- Tier 1- 40%, Tier 2- 33%, and Tier 3- 27%

By Designation- C Level- 50%, Director Level- 30%, and Others- 20%

By Region- North America- 15%, Europe- 50%, Asia Pacific- 20%, Latin America- 10%, Middle East & Africa (MEA)-5%.

The report provides a comprehensive analysis of company profiles:

Prominent companies include Toray Industries, Inc. (Japan), Mitsubishi Chemical Group Corporation (Japan), Teijin Limited (Japan), Daigas Group (Japan), Stanford Advanced Materials (US), Nippon Graphite Fiber Co., Ltd. (Japan), Easy Composites Ltd (UK), Haufler Composites GmbH & Co. KG (Germany), Procotex (Belgium), and SGL Carbon (Germany).

Research Coverage

This research report categorizes the Milled carbon fiber Market By Fiber Type (Virgin, Recycled), By Application (Reinforcements, Coatings & Adhesives, Others), End-Use Industry (Automotive, Electrical & Electronics, Sporting Goods, Aerospace & Defense, Others) and region (North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America). The scope of the report includes detailed information about the major factors influencing the growth of the milled carbon fiber market, such as drivers, restraints, challenges, and opportunities. A thorough examination of the key industry players has been conducted in order to provide insights into their business overview, solutions, and services, key strategies, contracts, partnerships, and agreements. New product and service launches, mergers and acquisitions, and recent developments in the milled carbon fiber market are all covered. This report includes a competitive analysis of upcoming startups in the milled carbon fiber market ecosystem.

Reasons to buy this report:

The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall milled carbon fiber market and the subsegments. This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers (Development of eco-friendly milled carbon fiber from the recycling of carbon fiber composites, Increasing adoption of milled carbon fiber in composite applications, Growing adoption of recyclable and lightweight milled carbon fibers in automotive industry), restraints (Competition with low-cost mature products, Limited market penetration), opportunities (Reduction in cost of carbon fiber, Development of advanced software tools for milled carbon fiber, Increased demand for Commercial Aircraft), and challenges (Maintaining uninterrupted supply chain and operating at full production capacity, liquidity crunch) influencing the growth of the milled carbon fiber market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the milled carbon fiber market

Market Development: Comprehensive information about lucrative markets – the report analyses the milled carbon fiber market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the milled carbon fiber market

Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players like Toray Industries, Inc. (Japan), Teijin Limited (Japan), SGL Group (Germany), Mitsubishi Chemical Group Corporation (Japan), Daigas Group (Japan), Stanford Advanced Materials (US), Nippon Graphite Fiber Co., Ltd. (Japan), Easy Composites Ltd (UK), Haufler Composites GmbH & Co. KG (Germany), and Procotex (Belgium) among others in the milled carbon fiber market.