Carbon Fiber Market - Global Industry Analysis

Carbon Fiber Market (Polyacrylonitrile (PAN) Based, Pitch-Based, And Others) For Aerospace And Defense, Wind Energy, Construction Automotive, Sports, And Other End-User: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends And Forecast, 2020 – 2028

Published Date: 19-May-2021 Category: Chemical & Materials Report Format : PDF Pages: 160 Report Code: ZMR-112 Status : Published

The Global Carbon Fiber Market accounted for almost USD 3.30 Billion in 2020 and is likely to cross almost USD 6.35 Billion by end of 2028, developing at a CAGR of almost 9.8% from 2021 to 2028.

Description

Carbon Fiber Market: Overview

The Global Carbon Fiber Market accounted for almost USD 3.30 Billion in 2020 and is likely to cross almost USD 6.35 Billion by end of 2028, developing at a CAGR of almost 9.8% from 2021 to 2028.

Carbon fibers have emerged as a key material during the past decade owing to the versatile properties offered by these products. Carbon fibers deliver high strength, low weight, and resistance to environmental parameters, and thus have emerged as a prominent alternative to traditional materials used across multiple end-use industries such as automotive, aerospace and defense, and energy infrastructure. Additionally, carbon fiber is also used across the sports and leisure industry, which is expanding at a prominent rate owing to rising health awareness in the adult and teenage population around the world. The growth of the carbon fiber market is also complimented by the increased demand from the automotive industry owing to the strength and lightweight offered by carbon fiber. The expansion of the automotive industry is expected to further contribute to the growth of the carbon fiber market during the forecast period 2021 - 2028.

COVID-19 Impact Analysis

The pandemic has significantly impacted the automotive, construction, aerospace, and defense industries across the globe. The disruption in the manufacturing sector has impacted the value chain of multiple end products and raw materials industries. The carbon fiber market is negatively impacted due to COVID-19 owing to marginal or no demand from the end-use industries. However, with easing lockdown across major countries such as the U.S. and Western European countries, the market is anticipated to slowly gain traction during the coming years. Though the demand is anticipated to remain low during the next couple of years, the market is expected to rebound to its original capacity during the first half of the forecast period.

Carbon Fiber Market: Growth Factors

The regional manufacturers of single-aisle aircraft are focusing on consolidating and acquiring new manufacturing projects. In 2018, Embraer and Boeing formed a joint venture to manufacture regional commercial aircraft. The C Series aircraft was developed in collaboration between Airbus and Bombardier. Further, in 2018, JetBlue bought 60 Airbus A220-300s, the latest name for the old C-Series planes. This has resulted in increased demand for carbon fiber from regional aircraft manufacturers. Additionally, Single-aisle airplanes are anticipated to witness strong demand in coming years and are expected to contribute around 70% of the new aircraft deliveries in near future. This is anticipated to drive the growth of the global carbon fiber market during the forecast period.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

 

Product type Segment Analysis Preview

Based on product type, the global carbon fiber market is segmented into Polyacrylonitrile (PAN) based, Pitch-based, and Others. Polyacrylonitrile (PAN) based carbon fibers are commonly used in aerospace and defense, automobile, sports and entertainment, wind energy, and other industries, and thus contributed a dominating share to the overall carbon fiber market in 2019. In contrast to other varieties of carbon fibers, this fiber has a high strength modulus. Polyacrylonitrile (PAN) based carbon fiber is more commonly used due to its cost-effectiveness and higher fiber efficiency. This carbon fiber precursor is a great way to get started with carbon fiber. Additionally, with rising expanding automotive, wind energy, and aerospace and defense industries across the globe, the demand for Polyacrylonitrile (PAN) based carbon fiber is anticipated to grow at a prominent rate during the forecast period.

End User Segment Analysis Preview

Based on end-user, the global carbon fiber market is segmented into aerospace and defense, wind energy, construction, automotive, sports, and others. The automotive end-user segment is anticipated to be the fastest growing segment during the forecast period owing to rising demand for lightweight and high-strength materials for automobile manufacturing. The emergence of electric vehicles has triggered the demand for low-weight and high-strength materials to improve fuel efficiency without compromising on the strength and safety of an automobile. This is anticipated to be a key factor driving the growth of the carbon fiber market during the forecast period. Additionally, rising demand from aerospace and defense users, along with growing demand for carbon fiber from the construction end-user segment is expected to contribute to the overall growth of the global carbon fiber market during the forecast period.

Carbon Fiber Market: Regional Analysis Preview

Europe accounted for a significant share of the global carbon fiber market in 2019 and is anticipated to witness prominent growth during the forecast period 2021 - 2028. The market is expanding as a result of increased demand for products with high strength, lightweight, and chemical and corrosion resistance. The involvement of major aircraft manufacturers, electric car manufacturers, and offshore wind farm installations in the area drives the demand in the region. The region is at the forefront of progress in the aerospace and defense industry, with manufacturers focusing on developing new and advanced products, such as the newly introduced Airbus A320 family and Eurofighter. Additionally, the presence of the most well-known automobile manufacturers, such as BMW, Fiat, and Bentley, in Europe is contributing to the strong demand for carbon fiber, as the carbon fiber composites are used in various structural vehicle components such as bonnets, bumpers, and frontends by these automakers.

The Asia Pacific is anticipated to be the fastest growing region during the forecast period owing to rising demand from multiple industry verticals. The automotive, aerospace and defense, and construction industries in manor Asian countries such as China, India, Japan, Indonesia, and South Korea are expanding rapidly. This is anticipated to be the prime factor driving the growth of the Asia pacific carbon fiber market during the forecast period.

Carbon Fiber Market: Key Players & Competitive Landscape

Some of the key players in the market include Toray Industries, Cytec Industries, Mitsubishi Rayon Co., Ltd., SGL Group – The Carbon Company, Hexcel Corporation, Kemrock Industries, and Exports Ltd., Formosa Plastics Corporation, DowAksa, Teijin Ltd, Zoltek Companies, Inc., Kureha Corporation and others.

The global carbon fiber market is segmented as follows:

By Product

  • Polyacrylonitrile (PAN) based
  • Pitch-based
  • Others

By End-user

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter 2. Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
      • 2.1.2. Market Attractiveness Analysis, By Product
      • 2.1.3. Market Attractiveness Analysis, By End User
      • 2.1.4. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Baking Ingredients Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter 3. COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter 4. Baking Ingredients Market –Product Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Product, 2020 & 2028
    • 4.2. Pulyacrylonitrile (PAN) based
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Pitch-based
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Others
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter 5. Baking Ingredients Market – End User Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End User, 2020 & 2028
    • 5.2. Aerospace and Defense
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Wind Energy
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Construction
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Automotive
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Sports
      • 5.6.1. Market Size and Forecast, By Region (USD Billion)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.7. Others
      • 5.7.1. Market Size and Forecast, By Region (USD Billion)
      • 5.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter 6. Baking Ingredients Market – Regional Analysis
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Product, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End User, 2016 – 2028
      • 6.2.4. U.S.
        • 6.2.4.1. U.S. Market Revenue, By Product, 2016 – 2028
        • 6.2.4.2. U.S. Market Revenue, By End User, 2016 – 2028
      • 6.2.5. Canada
        • 6.2.5.1. Canada Market Revenue, By Product, 2016 – 2028
        • 6.2.5.2. Canada Market Revenue, By End User, 2016 – 2028
      • 6.2.6. Mexico
        • 6.2.6.1. Mexico Market Revenue, By Product, 2016 – 2028
        • 6.2.6.2. Mexico Market Revenue, By End User, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Product, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End User, 2016 – 2028
      • 6.3.4. Germany
        • 6.3.4.1. Germany Market Revenue, By Product, 2016 – 2028
        • 6.3.4.2. Germany Market Revenue, By End User, 2016 – 2028
      • 6.3.5. France
        • 6.3.5.1. France Market Revenue, By Product, 2016 – 2028
        • 6.3.5.2. France Market Revenue, By End User, 2016 – 2028
      • 6.3.6. U.K.
        • 6.3.6.1. U.K. Market Revenue, By Product, 2016 – 2028
        • 6.3.6.2. U.K. Market Revenue, By End User, 2016 – 2028
      • 6.3.7. Italy
        • 6.3.7.1. Italy Market Revenue, By Product, 2016 – 2028
        • 6.3.7.2. Italy Market Revenue, By End User, 2016 – 2028
      • 6.3.8. Spain
        • 6.3.8.1. Spain Market Revenue, By Product, 2016 – 2028
        • 6.3.8.2. Spain Market Revenue, By End User, 2016 – 2028
      • 6.3.9. Rest of Europe
        • 6.3.9.1. Rest of Europe Market Revenue, By Product, 2016 – 2028
        • 6.3.9.2. Rest of Europe Market Revenue, By End User, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Product, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End User, 2016 – 2028
      • 6.4.4. China
        • 6.4.4.1. China Market Revenue, By Product, 2016 – 2028
        • 6.4.4.2. China Market Revenue, By End User, 2016 – 2028
      • 6.4.5. Japan
        • 6.4.5.1. Japan Market Revenue, By Product, 2016 – 2028
        • 6.4.5.2. Japan Market Revenue, By End User, 2016 – 2028
      • 6.4.6. India
        • 6.4.6.1. India Market Revenue, By Product, 2016 – 2028
        • 6.4.6.2. India Market Revenue, By End User, 2016 – 2028
      • 6.4.7. South Korea
        • 6.4.7.1. South Korea Market Revenue, By Product, 2016 – 2028
        • 6.4.7.2. South Korea Market Revenue, By End User, 2016 – 2028
      • 6.4.8. South-East Asia
        • 6.4.8.1. South-East Asia Market Revenue, By Product, 2016 – 2028
        • 6.4.8.2. South-East Asia Market Revenue, By End User, 2016 – 2028
      • 6.4.9. Rest of Asia Pacific
        • 6.4.9.1. Rest of Asia Pacific Market Revenue, By Product, 2016 – 2028
        • 6.4.9.2. Rest of Asia Pacific Market Revenue, By End User, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Product, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End User, 2016 – 2028
      • 6.5.4. Brazil
        • 6.5.4.1. Brazil Market Revenue, By Product, 2016 – 2028
        • 6.5.4.2. Brazil Market Revenue, By End User, 2016 – 2028
      • 6.5.5. Argentina
        • 6.5.5.1. Argentina Market Revenue, By Product, 2016 – 2028
        • 6.5.5.2. Argentina Market Revenue, By End User, 2016 – 2028
      • 6.5.6. Rest of Latin America
        • 6.5.6.1. Rest of Latin America Market Revenue, By Product, 2016 – 2028
        • 6.5.6.2. Rest of Latin America Market Revenue, By End User, 2016 – 2028
    • 6.6. Middle-East and Africa
      • 6.6.1. Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. Middle-East and Africa Market Revenue, By Product, 2016 – 2028
      • 6.6.3. Middle-East and Africa Market Revenue, By End User, 2016 – 2028
      • 6.6.4. GCC Countries
        • 6.6.4.1. GCC Countries Market Revenue, By Product, 2016 – 2028
        • 6.6.4.2. GCC Countries Market Revenue, By End User, 2016 – 2028
      • 6.6.5. South Africa
        • 6.6.5.1. South Africa Market Revenue, By Product, 2016 – 2028
        • 6.6.5.2. South Africa Market Revenue, By End User, 2016 – 2028
      • 6.6.6. Rest of Middle-East and Africa
        • 6.6.6.1. Rest of Middle-East and Africa Market Revenue, By Product, 2016 – 2028
        • 6.6.6.2. Rest of Middle-East and Africa Market Revenue, By End User, 2016 – 2028
  • Chapter 7. Baking Ingredients Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Technology Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter 8. Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Baking Ingredients Market: Company Market Share, 2019
      • 8.1.2. Global Baking Ingredients Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Baking Ingredients Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Baking Ingredients Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter 9. Company Profiles
    • 9.1. Toray Industries
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Cytec Industries
    • 9.3. Mitsubishi Rayon Co., Ltd.
    • 9.4. SGL Group – The Carbon Company
    • 9.5. Hexcel Corporation
    • 9.6. Kemrock Industries and Exports Ltd.
    • 9.7. Formosa Plastics Corporation
    • 9.8. DowAksa
    • 9.9. Teijin Ltd
    • 9.10. Zultek Companies, Inc.
    • 9.11. Kureha Corporation
  • Chapter 10. Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter 11. Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 2. Market Attractiveness Analysis, By End User
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Carbon Fiber Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product, 2020 & 2028
FIG NO. 7. Global Carbon Fiber Market for Polyacrylonitrile (PAN) based, Revenue (USD Billion) 2016 –2028
FIG NO. 8. Comparative Revenue Analysis of Carbon Fiber Market for Polyacrylonitrile (PAN) based, By Country, 2020 & 2028
FIG NO. 9. Global Carbon Fiber Market for Pitch-based, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Carbon Fiber Market for Pitch-based, By Country, 2020 & 2028
FIG NO. 11. Global Carbon Fiber Market for Other, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Carbon Fiber Market for Other, By Country, 2020 & 2028
FIG NO. 13. Market Revenue Share, By End User, 2020 & 2028
FIG NO. 14. Global Carbon Fiber Market for Aerospace and Defense Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Carbon Fiber Market for Aerospace and Defense, By Country, 2020 & 2028
FIG NO. 16. Global Carbon Fiber Market for Wind Energy, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Carbon Fiber Market for Wind Energy, By Country, 2020 & 2028
FIG NO. 18. Global Carbon Fiber Market for Construction, Revenue (USD Billion) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Carbon Fiber Market for Construction, By Country, 2020 & 2028
FIG NO. 20. Global Carbon Fiber Market for Automotive, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Carbon Fiber Market for Automotive, By Country, 2020 & 2028
FIG NO. 22. Global Carbon Fiber Market for Sports, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Carbon Fiber Market for Sports, By Country, 2020 & 2028
FIG NO. 24. Global Carbon Fiber Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Carbon Fiber Market for Others, By Country, 2020 & 2028
FIG NO. 26. Global Carbon Fiber Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Carbon Fiber Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 28. Porter’s Five Forces Analysis for Global Carbon Fiber Market
FIG NO. 29. PEST Analysis for Global Carbon Fiber Market
FIG NO. 30. Pricing Analysis for Global Carbon Fiber Market
FIG NO. 31. Value Chain Analysis for Global Carbon Fiber Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. Toray Industries Business Segment Revenue Share, 2020 (%)
FIG NO. 36. Mitsubishi Rayon Co., Ltd. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
 


Table Of Tables

List of Tables 

TABLE NO. 1. Global Carbon Fiber Market: Snapshot
TABLE NO. 2. Quarterly Carbon Fiber Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Carbon Fiber Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Carbon Fiber Market for Polyacrylonitrile (PAN) based, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Carbon Fiber Market for Pitch-based, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Carbon Fiber Market for Other, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Carbon Fiber Market for Aerospace and Defense, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Carbon Fiber Market for Wind Energy, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Carbon Fiber Market for Construction , by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Carbon Fiber Market for Automotive, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Carbon Fiber Market for Sport, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Carbon Fiber Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Carbon Fiber Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Carbon Fiber Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Carbon Fiber Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Carbon Fiber Market Revenue, By End User, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Carbon Fiber Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Carbon Fiber Market Revenue, By End User, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Carbon Fiber Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Carbon Fiber Market Revenue, By End User, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Carbon Fiber Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 24. Mexico Carbon Fiber Market Revenue, By End User, 2016 – 2028 (USD Billion)
TABLE NO. 25. Drivers for the Carbon Fiber Market: Impact Analysis
TABLE NO. 26. Restraints for the Carbon Fiber Market: Impact Analysis
TABLE NO. 27. Major Buyers of Carbon Fiber
TABLE NO. 28. Distributors/Traders List of Carbon Fiber
TABLE NO. 29. Global Carbon Fiber Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 30. Global Carbon Fiber Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Carbon Fiber market. Zion Research has collected and analyzed key data belong to the global Carbon Fiber market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined afterconducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Carbon Fiber across the world has been calculated through primary and secondary research.

Zion Research employs combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include, STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assistedin validation of findings from secondary research and to understand key trends in the Carbon Fiber industry. Primary research makes up major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases and market reports

News articles, press releases and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Carbon Fiber market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

Carbon fiber is a fiber that contains at least 92% carbon by weight. Carbon fiber is very light and flexible, yet very tough, boosting performances. It is relatively new and refined material that has found many uses in the field of automobiles, aviation, sports, construction and even medical devices. Carbon fiber composites are usually preferred in applications where strength, low weight, stiffness and outstanding fatigue characteristics are necessary requirements. They also can be used in operations where chemical inertness, high temperature, and high damping are demanded. Several thousand carbon fibers are bundled together to form a tow, which may be used by itself or woven into a fabric. The thickness varies according to use giving the object strength and flexibility suitable for its purpose.  They are usually combined with other materials to form a composite. Various types of carbon fibers are manufactured across the globe. These include polyacrylonitrile (PAN) based, rayon-based, pitch-based and others. Pitch-based and PAN-based carbon fibers are the major product segments of the global carbon fiber market.

Demand for carbon fiber is growing at a rapid pace from end-user industries such as aerospace and defense, wind energy and sporting goods is expected to drive the global carbon fiber market in the next few years. However, recycling issues of carbon fiber coupled along with higher price may curb the growth of the carbon fiber market during the forecast period. Rising demand for durable and lightweight carbon fiber components in the end-user industries such as construction and automotive industries is projected to act as a worthwhile opportunity for the carbon fiber market during the forecast period.

Global Carbon Fiber Market

Polyacrylonitrile (PAN) based product type accounted for a major share of carbon fiber market globally. PAN based carbon fiber hold more than 80% share of the global carbon fiber market. PAN based carbon fiber is followed by pitch-based carbon fiber. While others segment which includes rayon based, polyolefin-based carbon fiber is expected to be fastest growing segment during the forecast period. Wind energy was the largest end-user segment and accounted for more 20% share in 2015. While automotive is expected to be the fastest growing end-user segment followed by sporting goods during the forecast period.

In terms of geography, North America was the largest consumer of carbon fiber in 2015. The consumption in North America is mainly driven by usage of carbon fiber in the U.S. Currently, the U.S. uses almost 60% of the world production of carbon fiber. The Asia-Pacific market is expected to grow at a swift pace mainly due to rising demand for carbon fiber and their composites from emerging countries in Asia such as India, Japan, and China. Japan is one of the major manufacturers of carbon fiber globally. Japan accounts for almost 50% of the world production capacity. The largest producer of this fiber is Toray Industries of Japan. The world production capacity of pitch-based carbon fiber is almost totally based in Japan. Europe is second largest consumer of carbon fiber globally. Increasing demand from end-user industries such as aerospace and defense, wind energy, and automotive is expected to drive the carbon fiber market in Europe in the future. While, Latin America, and the Middle East and Africa are expected to register noticeable growth during the forecast period.

Some of the key players of the market include Toray Industries, Cytec Industries, Mitsubishi Rayon Co., Ltd., SGL Group – The Carbon Company, Hexcel Corporation, Kemrock Industries and Exports Ltd., Formosa Plastics Corporation, DowAksa, Teijin Ltd, Zoltek Companies, Inc., Kureha Corporation, and others.

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FrequentlyAsked Questions

The Global Carbon Fiber Market was valued at USD 3.20 Billion in 2020.

The Global Carbon Fiber Market is expected to reach USD 6.35 Billion by 2028, growing at a CAGR of 9.8% between 2021 to 2028.

Some of the key factors driving growth of the Global Carbon Fiber Market is rising demand from expanding automotive, aerospace and defense, and wind energy end use markets across major countries in Europe and Asia Pacific.

Europe region held a substantial share of the Carbon Fiber Market in 2020 owing to the presence of major automobile manufacturers, aerospace and defense companies, and increased investment in wind energy infrastructure development.

Some of the key players of the market include Toray Industries, Cytec Industries, Mitsubishi Rayon Co., Ltd., SGL Group – The Carbon Company, Hexcel Corporation, Kemrock Industries and Exports Ltd., Formosa Plastics Corporation, DowAksa, Teijin Ltd, Zoltek Companies, Inc., Kureha Corporation and others.

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