Rising demand for high-performance materials that have the ability to maintain their quality under undesirable conditions is driving up the demand for carbon-reinforced, compact plastics from a huge base of industries such as aerospace, defense, automotive, and transportation that are eventually escalating the demand for carbon fibres.
According to the research report,Carbon Fiber Market: Current Analysis and Forecast (2021-2027)It states that Hexcel Corporation, Mitsubishi Chemical Holdings, Toray, Solvay, Formosa Plastic Corporation, Jiangsu Hengshen Co., Ltd. Ltd. DowAksa, Teijin Limited, SGL Carbon, Hyosung Advanced Material and many others are the major players that are currently operating in the carbon fiber market. The report covers the company profile of the above mentioned players in various parameters such as company overview, business strategy, key product offerings, financial performance, KPIs, risk analysis, recent development, regional presence, SWOT analysis and many more.
Moreover, the Carbon Fiber market is highly segmented into different segments, i.e. by raw material (pan, step), type of fiber (virgin, recycled), product type (continuous, long, short), by draw type (normal, Large), By Modulus (Standard, Medium, High), By Application (Composite, Not Compound), By End User (Aerospace & Defense, Automotive, Wind Energy, Sports, Electrical & Electronics, Construction, Marine, And Other), By Region (North America, Europe, Asia Pacific and Rest of the World). It was also noted that the report covers extensive data coverage at the country level as well as for the regions mentioned above which are the United States of America, Canada, Germany, the United Kingdom, France, Spain, China, Japan, India and Australia. And many other things.
The report also covers various other qualitative and quantitative information about the overall market, which are Carbon Fiber market dynamics, Carbon Fiber Material market size, supply and demand, current trends/issues/challenges, competition and companies participating in the market, and market value chain. Market drivers, constraints, and many more.
Moreover, it has been observed that regular drawdown captured the highest market share in 2020, and in the near future the demand is expected to increase during the forecast period due to higher demand from aerospace, defense, manufacturing and automobile industries. Polyacrylonitrile (PAN) captured the lion’s share of the market. However, Pitch has captured considerably less market share.
In the near future, the carbon fiber materials market is expected to reach a significant value in terms of revenue of USD 1 billion by the end of 2027, with a single digit compound annual growth rate (CAGR) during the 2021-2027 review period. This growth in the carbon fiber materials market is expected due to an increase in Demand from the automotive sector and other sectors such as aviation and defense along with the growing awareness among the people to reduce carbon emissions will automatically cause the aggregate demand for carbon fiber materials to flow through the regions during the review period. Moreover, the increasing government support along with the increasing adoption of the technology will serve to understand the growth in the overall carbon fiber market.
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