Global Growth Opportunities in the Carbon Fiber Resin Market Comprises of Key Players (Huntsman Corporation, BASF, Hexion Inc., Polynt Group, Ashland, Olin, 3M, Aliancys & Kukdo Chemical Co Ltd) Forecast to 2023

The recent shift toward the development of light vehicles and the diversification in energy baskets of countries from traditional sources of power such as fossil fuels to clean power sources such as wind power are the major trends, which are identified to impact the global carbon fiber resin market.

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Carbon fiber resins are derivatives of carbon and other elements that are processed to form carbon fibers. These are cured by application of heat to form the final fibers. These resins possess appreciable physical and chemical properties such as high strength, significant chemical resistance, corrosion resistance, and high viscosity, which make them an ideal material for usage in exterior and interior parts for airplanes.

The carbon fiber resin market is expected to be driven by regulations and move toward fuel efficiency in automotive and aerospace industries. Moreover, recent regulation such as the Corporate Average Fuel Economy (CAFE) standards require manufacturers to meet minimum fuel economy requirements for their fleets of vehicles sold in the U.S.

The high cost of carbon fiber is a major restraining factor, which reduces its application in low-cost and non-premium segment of automobiles. Further, the material witnesses stiff competition from substitutes such as carbon steel and polymer derivatives. These factors are likely to hinder its profound application and restrain the carbon fiber resin market growth to some extent in the future.

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Corning, BASF SE, Hexion Inc., Polynt S.P.A., Ashland Inc., Olin Corporation, 3M Company, Aliancys AG, and Kukdo Chemical Co. Ltd. The industry participants have integrated their business operations and produce raw materials and final products. This helps companies to leverage technological capabilities and produce economically competitive products.

The study provides the historical as well the forecast market size data for various countries, including the U.S., Canada, France, Germany, the U.K., Italy, Spain, Japan, China, India, Brazil, Saudi Arabia, and South Africa.

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