Carbon Fiber Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The global carbon fiber market is estimated at around 123,710 tons in 2022 and is expected to register a CAGR of over 10% during the forecast period (2022-2027).
Due to COVID-19, production in various industries, including automotive, construction, aerospace, etc., decreased. The global automotive supply industry has been heavily impacted by the COVID-19 pandemic. The production and sales of motor vehicles have come to a sudden halt in most parts of the world. Also, the aerospace and defense industry, which is a major end-user of the carbon fiber market, took a major hit in 2020, owing to COVID-19.
Key HighlightsThe carbon fiber market is a consolidated market, where the top five players account for more than 67% of the total global production capacity. The major companies in the carbon fiber market include Toray Industries Inc., Hexcel Corporation, Mitsubishi Chemical Corporation, SGL Carbon, and Teijin Limited, among others.
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