The report will cover the overall analysis and insights in relation to the size and growth rate of the “Global Carbon Fiber Market ” by various segments at a global and regional level for the 2010-2027 period, with 2010-2019 as historical data, 2020 as a base year, 2021 as an estimated year and 2021-2027 as forecast period.
COVID 19 Impacts on Carbon Fiber
COVID-19 is a new strain of coronavirus that has not been previously identified in humans . Coronaviruses (CoV) are a family of RNA (ribonucleic acid) viruses. COVID-19 started in Asia and is now spreading over the rest of the world via person-to-person contact and community spread. COVID-19 pandemic may have an potential impacts on Global Carbon Fiber Market.
- The report provides a basic overview of the industry including definitions, classifications and industry chain structure.
- A brief overview of the commercial potential of products, technologies and applications.
- Company profiles of leading market participants dealing in products category.
- Description of properties and manufacturing processes.
- To analyze and forecast the market size in terms of volume and value
- Market segments on the basis of type, application, end users, region and others
- Discussion of the current state, setbacks, innovations, and the future needs of the market.
- Detailed discussion regarding impact of product on demand
- Up-to-date analyses of market trends and technological improvements in the market
- Examination of the market by application and by product sizes; utility scale, medium scale and small scale.
- To strategically profile key players and comprehensively analyze their market rankings and core competencies
- The report focuses on detailed profile of major leading industry players with information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information.
- Country specific data and analysis for
- United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Indonesia, Malaysia, Switzerland, Australia, India, Italy, Sweden, Spain, Belgium, Netherlands, Norway, Brazil, Argentina, Mexico, South Africa Turkey, Iran, Egypt and others.
- Coverage of historical overview, key industrial development and regulatory framework.
- To track and analyze competitive developments, such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the market
- A look at the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
- 85 data tables and 20 additional tables.
Reports Scope and Segments
- The scope of the report covers the clear understanding and overview of the product.
- Analysis of market trends in the region, with market data considering 2020 as the base year, 2021 as the estimate year and forecast for 2027 with projection of CAGR from 2021 to 2027.
- The report covers discussion of economic trends and technology.
- It also explains the major drivers and current trends within the particular sector.
- The key countries in all the major regions are mapped on the basis of their market share.
- Market estimates represent revenue.
- Discusses trends within the market and provides a future outlook.
- Reviews business activities of market leaders.
- This report provides a quantitative analysis of the current trends, estimations, and dynamics.
- In-depth analysis of the market segmentation assists in determining the prevailing market scope
- Major countries in each region are mapped according to their revenue contribution to the global industry. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global market trends, key players, market segments, application areas, and growth strategies.
Segments covered in the reports
|Market size available for years||2014–2027|
|Base year considered||2020|
|Forecast units||Value (USD) & Volume (Million Units)|
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
United States, Russia, China, Germany, United Kingdom, France, Japan, Israel, Saudi Arabia, South Korea, United Arab Emirates, Canada, Indonesia, Malaysia, Switzerland, Australia, India, Italy, Sweden, Spain, Belgium, Netherlands, Norway, Brazil, Argentina, Mexico, South Africa and 54 Others.
|By Raw Material
PAN based carbon fiber, Pitch based carbon fiber and Rayon based carbon fiber.
|By Product Type
Continuous carbon fiber, Long carbon fiber and Short carbon fiber.
Standard modulus, Intermediate modulus and High modulus.
Composite and Non-composite.
Aerospace & Defense, Sporting Goods, Wind Energy, Pipe & Tank, Automotive, Electrical & Electronics, Marine, Civil Engineering and Others.
|Companies covered||Cytec Solvay Group; DowAksa; Formosa Plastics Corporation; Hexcel Corporation; Hyosung Corporation; Jiangsu Hengshen Co. Ltd.; BASF SE; Mitsubishi Chemical Carbon Fiber and Composites Inc.; Mitsubishi Rayon Co. Ltd.; Nippon Graphite Fiber Corporation; SGL Group; Teijin Ltd.; Toho Tenax Co. Ltd.; Toray Industries Inc.; ZOLTEK™ Carbon Fiber; OJSC SvetlogorskKhimvolokno; Weihai Guangwei Composites Co. Ltd.; Zhongfu Shenying Carbon Fiber Co. Ltd. and Others.|
Key Market Insights
The global carbon fiber market is projected to grow from $2.33 billion in 2021 to $7.2 billion in 2027 at a CAGR of 9.5% in forecast period 2021-2027.
- In the medium term, the major factors driving the growth of the market studied are accelerating usage in the aerospace and defense sector and the increasing application in the wind energy sector.
- On the flip side, high prices of carbon fiber have been acting as a roadblock to the growth of the market studied.
- The increasing popularity of recycled carbon fiber is likely to act as an opportunity for the market studied over the forecast period.
- In terms of volume and value, Asia-Pacific dominated the market across the world, with China accounting for most of the demand.
Key Market Trends
Polyacrylonitrile (PAN) to Dominate the Market
- Polyacrylonitrile is the most versatile precursor for carbon fiber. Also known as Creslan 61, it is a synthetic semi-crystalline polymer resin. Almost 90% of carbon fiber is produced using PAN.
- PAN is used as a precursor for the production of carbon fiber for aerospace and defense applications and the sporting equipment industry.
- The aerospace and defense, and sporting equipment industries are registering high growth, owing to the increasing adoption of sports and recreational activities and increasing health awareness, which is expected to drive the market for PAN as a raw material in carbon fiber through the forecast period in post-COVID-19 recovery times.
- PAN precursor has been at the forefront of the advancement in the research and development, with extensive work being done with PAN and graphene, PAN nanofibers, and others. With the presently available technology, PAN is expected to be the primary material for carbon fiber production.
- Toray CFE, Merck KGaA, Hexcel Corporation, SABIC, and Teijin Limited are some of the major manufacturers of PAN.
- Owing to the aforementioned factors, the demand for PAN carbon fiber is expected to rise during the forecast period.
North America is expected to grow at an estimated CAGR of 11.0%. The region is marked by a large concentration of the main aircraft makers such as Airbus and critical defense instruments manufacturers in the area. Automobile giants in North America, emphasize on manufacturing high performance cars with reduced weight, further driving the market in the region.
Europe is projected to be the largest as well as fastest growing market, generating a revenue of USD 2,066.6 million till 2025. The presence of strict laws and regulations focused on reducing environmental pollution, and constant efforts in the European region is likely to play a key role.
- In April 2021, Hyosung Advanced Materials signed a contract with Hanhwa Solutions to supply reinforced carbon fiber used in high-pressure containers for the long term.
- In April 2021, Mitsubishi Chemical Corporation entered into a partnership agreement with Dymon Co. Ltd, the robot and space development venture. Based on this agreement, MCC will provide carbon fiber reinforced plastic (CFRP) components and thermoplastic materials as well as technical support.
- In November 2020, SGL Carbon and Koller Kunststofftechnik manufacture composite windshields for BMW Group, for which SGL Carbon will be supplying innovative carbon fiber profiles.
- In October 2020, Hyosung Group is strengthening its partnership with Saudi Aramco (Arabian American Oil Company), the world’s largest comprehensive petrochemical company, for cooperation in the carbon fiber market, including the construction of new plants.
- In July 2020, Teijin Carbon Europe and the United Kingdom’s National Composites Centre strengthened their innovation partnership in carbon fiber composite materials.
- Recent Trend and Developments: The major players operating in the global market have adopted key strategies such as product launch and acquisition to strengthen their market outreach and sustain the stiff competition in the market.
- Key Market Players: Key players list and Key companies profiled in this market include.
- Revenue forecast, company share, competitive landscape and growth factors.
Objectives of the study
To provide detailed information regarding drivers, restraints, opportunities and challenges are influencing the growth in the respective market. To analyze the competitive intelligence of players based on company profiles and their key growth strategies. To strategically analyze micro markets with respect to the individual growth trends, their prospects, and their contribution to the total respective market. To analyze competitive developments such as expansions, and product launches, along with research & development (R&D) activities undertaken in the respective market. A unique model is created customized for each study also offers suggestions that help enterprises to identify and mitigate risks.
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