Press release
APEJ will Remain Dominant in Global Carbon Fiber Market || Key Players: Dow/AkSA, Cytec, Hexcel, SGL, Formosa Plastics, Mitsubishi Rayon, Toho Tenax, and Toray.
Demand for carbon fiber has surged significantly owing to its properties including low moisture absorption, high temperature resistance, exceptional mechanical characteristics, and relatively lower price. Several architectural construction projects are creating high demand for carbon fiber-reinforced concrete, for example - repairing aging bridges and buildings. Use of carbon fibers significantly curtails time required for various construction activities, which in turn helps in reducing overall expenses.
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According to a recent Fact.MR research report, a splendid rise at 8.5% CAGR, in terms of value, will be recorded by the global carbon fibers market during the forecast period (2017-2026). Roughly 138,000 tons of carbon fiber are likely to be sold around the world by 2026-end.
In terms of value, the global market for carbon fiber will continue to be dominated by Asia-Pacific excluding Japan (APEJ), mainly driven by increasing investments in the infrastructure development in emerging countries such as India and China, along with robust expansion of the automotive sector in the region. Europe is also expected to be a lucrative region for the carbon fiber market, owing to strict laws and regulations implemented by the governments for reducing the environmental pollution caused by vehicles, which has led the automotive manufacturers in the region to opt for vehicle lightweighting.
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Considering the broad-scope of the global carbon fiber market, the report offers in-depth insights on the forecast and segment-wise analysis. The carbon fiber market has been segmented on the basis of end-user, tow size, precursor material type, and region. This sections offers segmentation analysis, along with a detailed country-wise forecast on all the parameters.
Occupancy of a large number of players has made the nature of the global carbon fibers market to be fragmented, with intensity of competition among players surging at a significant rate. Global reach of well-established market players and high capital investment for entering the market have created barriers for new market players. In a bid to sustain themselves in this highly competitive market, vendors are competing one another in terms of customer-centrism, price, quality, performance, and innovation. Key market players identified by the report include Hyosung, Kemrock, Dow/AkSA, Cytec, Hexcel, SGL, Formosa Plastics, Mitsubishi Rayon, Toho Tenax, and Toray.
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