Global Carbon Fiber Market: Key Players, Trends, Share, Industry Size, Growth, Opportunities, Forecast To 2025
Global Carbon
Fiber Market size
is expected to be valued at USD 7.27 billion by 2025 projected to expand with a
CAGR of 10.6% over the forecast period. Declining prices of the once expensive
carbon fiber is among the major driving factor for increase in demand of the
material across diverse industry verticals. Characteristics of carbon fiber
such as light weight, high tensile strength, stiffness and high fatigue
strength makes it an ideal material for usage across wide range of industries
and a major driver of the carbon fiber industry growth.
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Global Carbon Fiber
Market is strongly guided by following key Players:
·
Teijin
Limited
·
Mitsubishi
Rayon Co. Ltd.
·
SGL
Carbon
·
Formosa
Plastics Corp
·
Hexcel
Corporation
·
DowAksa
·
Cytec
Industries (Cytec Solvay Group)
Carbon
fiber composite market can trace its origin to its first use in the aerospace
industry. Carbon fiber composites could provide the aircraft structure with the
required strength along with significant reduction in its weight. Aircraft
parts such as main wings, tail units, ailerons, rudders, floor panel and
lavatory units are some of the components carbon fiber is used in. With time,
usage of carbon fiber material has significantly increased in aerospace
industry. For instance, around 50% of Boeing’s 787 Dreamliner’s structure,
which was introduced in 2011 is made up of carbon fiber reinforced polymers as
compared with 10% usage in its predecessor Boeing 777, launched in 1995.
Overall, aerospace & defense industry is estimated to continue its dominance
in global carbon fiber industry with share of 27.2% in 2025.
Apart
from aerospace, automotive industry has next big potential for the consumption
of carbon fiber composite market. Stricter fuel emission norms have compelled
manufacturers to bring design changes in their vehicles. Latest U.S.
regulations mandate that the average fuel economy standard should meet 54.5
miles per gallon by 2025, over the 35.5 mpg of vehicles as of now. Use of
carbon fibers and its composites can reduce the vehicle weight by 25%-70% as
compared to other materials such as aluminum. Therefore, large number of
automobile manufacturers are imbibing carbon fiber in their design. For
instance, Porsche, a unit of Volkswagen AG, introduced CRPF (carbon fiber
reinforced plastic) wheel in the market in late 2017. The composite wheel is 20
percent lighter as compared to its aluminum equivalent.
Carbon
Fiber Market analysis, on the basis of type of design, is done by categorizing
carbon fiber products into regular and large tow. Carbon fibers tow lesser than
24k, are known as regular or small tow whereas tow count higher than 24k are
known as large tow carbon fibers. Regular tow carbon fibers possess superior
properties such as lighter weight and high tensile strength owing to which they
are used in niche applications such as aerospace & wind turbines. However,
large tow carbon fiber is also witnessing incremental demand owing to its
suitability for automotive industry.
Carbon
fiber consumption has increased significantly across the globe. However,
consumption is still dominated by the developed regions such as Europe and
North America. Europe alone accounted for 40.5% of revenue share in 2017.
Europe followed by North America is anticipated to dominate the carbon fiber
consumption. In developing regions, China recorded significant growth owing to
increasing investments in wind energy sector. India & Southeast Asia have
significant potential in long term growth scenario of carbon fiber industry.
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Leading
players have global presence and maintain steep entry barriers for challengers
through economies of scale and proprietary production processes. Owing to rapid
growth in demand for carbon fiber, players are focused on expanding their
manufacturing base in order to strengthen their customer base. Carbon Fiber
Market share by company puts Toray Industries Inc. at the leading position
globally in 2017.
***Key segments of the
global Carbon Fiber Market:
1] Type Overview,
2013-2025 (Tons) (USD Million)
- Regular Tow
- Large Tow
2] Application Overview,
2013-2025 (Tons) (USD Million)
- Automotive
- Aerospace &
Defense
- Wind Turbines
- Sports Equipment
- Industrial
Materials
- Others
3] Regional Overview,
2013-2025 (Tons) (USD Million)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
& Africa
Major Points from TOC:
Chapter
1 Executive Summary
Chapter
2 Research Methodology
- Research
approach
- Scope,
definition, and assumptions
- Data
sources
Chapter
3 Carbon Fiber industry
Outlook
Chapter 4 Carbon Fiber Market Overview, by Type
- Regular tow
- Large tow
Chapter 5 Carbon Fiber Market Overview, by Application
- Automotive
- Aerospace &
defense
- Wind turbines
- Sports
equipment
- Industrial
materials
- Others
Chapter
6 Carbon Fiber Market Overview, by Region
Chapter
7 Industry Structure
Chapter
8 Company Profiles
…Continued
About
Us:
Adroit Market Research is an India-based
business analytics and consulting company incorporated in 2018. Our target
audience is a wide range of corporations, manufacturing companies,
product/technology development institutions and industry associations that
require understanding of a market’s size, key trends, participants and future
outlook of an industry. We intend to become our clients’ knowledge partner and
provide them with valuable market insights to help create opportunities that
increase their revenues. We follow a code– Explore, Learn and Transform. At our
core, we are curious people who love to identify and understand industry
patterns, create an insightful study around our findings and churn out
money-making roadmaps.
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Information:
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3131 McKinney
Ave Ste 600, Dallas, TX75204
Phone: +1 (214) 884-6068
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