Carbon Fiber- Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Carbon Fiber Market is accounted for $4.15 billion in 2018 and is expected to reach $12.49 billion by 2027 growing at a CAGR of 13.0% during the forecast period. While the elements like extending use of carbon fiber in the wind energy industry, growing interest for fuel-efficient and lightweight vehicles are driving the growth of the market. However, the significant expense of carbon fiber and the accessibility of modest other options, such as, fiberglass, are relied upon to obstruct the development of the market.
Carbon Fiber is a polymer and is sometimes known as graphite fiber. It is a very strong material that is also very lightweight. Carbon fiber is five-times stronger than steel and twice as stiff. Though carbon fiber is stronger and stiffer than steel, it is lighter than steel; making it the ideal manufacturing material for many parts. It is made of thin, strong crystalline filaments of carbon that is used to strengthen material. Carbon fiber can be thinner than a strand of human hair and gets its strength when twisted together like yarn. Then it can be woven together to form cloth and if needed to take a permanent shape, carbon fiber can be laid over a mold and coated in resin or plastic.
Based on end user, aerospace & defense end use is likely to have a huge demand in the forecast period due to increasing use of carbon fiber in aircraft, coupled with the increasing number of aircraft launched in the market. By geography, Europe is going to have a lucrative growth during the forecast period due to presence of large aircraft manufacturers, electric car manufacturers, and offshore wind farm installations in the region.
Some of the key players in Global Carbon Fiber market include Mitsubishi Rayon Co., Ltd., Formosa Plastics Corporation, Toray Industries Inc., Jiangsu Hengshen Co. Ltd, Hyosung, Teijin Limited, SGL Group, Solvay, Hexcel Corporation, Dowaksa, ELG Carbon Fibre, Zhongfu Shenying Carbon Fiber Co. Ltd., A&P Technology, Inc., Nippon Graphite Fiber Corporation, and Kureha.
• Long Carbon Fiber
• Continuous Carbon Fiber
• Short Carbon Fiber
Fiber Types Covered:
• Recycled Carbon Fiber
• Virgin Carbon Fiber
Raw Materials Covered:
• Polyacrtlonitrile (PAN)-Based Carbon Fiber
• Rayon-Based Carbon Fiber
• Pitch-Based Carbon Fiber
• High Modulus
• Standard Modulus
• Intermediate Modulus
End Users Covered:
• Wind Energy
• Aerospace & Defense
• Alternative Energy
• Pipe & Tank
• Sporting Goods
• Pressure Vessels
• Civil Engineering
• Electrical & Electronics
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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