Global Carbon Fiber Market Outlook 2018-2023

Global carbon fiber market is estimated to grow at a substantial CAGR of 10.5% by 2023 as the scope, product types, and its applications are increasing across the globe. Carbon fiber is composed of carbon atoms attached together to form a long chain that is 5-10 m in diameter. 

The factors that propel the growth of the carbon fiber market include increasing wind energy applications, increasing demand in the aerospace industry, growing demand in the retail sporting goods market and rising automotive demand. On the other hand, there are factors that may hamper the growth of the market including high cost and unavailability of carbon fibers. 

Carbon fiber market may be explored by product type, form, raw materials, end user, and geography. Carbon fiber market may be explored by product type as continuous carbon fiber, short carbon fiber, and long carbon fiber. The “Continuous Carbon Fiber” segment led the carbon fiber market in 2017 and is anticipated to maintain its dominance by 2023, due to higher tensile strength as well as stiffness as compared to the other types of carbon fiber products. 

Carbon fiber market by form could span long carbon fiber, composite, and short carbon fiber. The “composite” segment led the carbon fiber market in 2016 and is anticipated to maintain its dominance by 2023. Carbon fiber market could be explored based on raw material as pitch-based carbon fiber, pan-based carbon fiber, and rayon-based carbon fiber. 

Carbon fiber market could be explored based on the end user as marine, aerospace & defense, automotive, electrical & electronics, sporting goods, civil engineering, wind energy, pipe & tank, and others. The “Wind Energy” segment led the carbon fiber market in 2016 and is anticipated to maintain its dominance by 2023 The key factors that could be attributed to the growth include the lightweight wind turbine and increasing need for energy efficient wind turbine. 

Carbon fiber market is categorized based on geography into North America, Latin America, Japan, Middle East, and Africa, Western Europe, Asia Pacific, and Eastern Europe. The “North America” segment led the carbon fiber market in 2016 and is anticipated to maintain its dominance by 2023. The key factor that could be attributed to the growth includes an occurrence of huge aircraft manufacturing & defense companies in the region. North America is followed by the European region owing to stringent laws and regulations focused on reducing environmental pollution. 

The key players contributing to the robust growth of the carbon fiber market comprise Mitsubishi Chemical Holdings Corporation, DowAksa Advanced Composites Holding B.V., OJSC SvetlogorskKhimvolokno, Nippon Steel & Sumitomo Metal Corporation, Teijin Limited (Teijin), SGL Carbon SE, Hexcel Corporation, Toray Industries Inc., Hyosung Corporation and Solvay SA. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.

Global carbon fiber market is anticipated to grow at a CAGR of 10.5% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application, by products, and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The Global Market for carbon fiber to 2023 offers detailed coverage of carbon fiber industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading carbon fiber producers to provide exhaustive coverage of the carbon fiber.

Report contents include
- Analysis of the carbon fiber market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on carbon fiber including products, sales/revenues, and market position
- Market structure, market drivers and restraints.

Key regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key vendors
- Toray Industries Inc
- Teijin Limited
- Mitsubishi Chemical Corporation
- Hexcel Corporation
- Solvay SA
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