Prediction by 2024 : Carbon Fiber Market Worldwide Top Players Analysis, Demand and Trends in 2019

Carbon fiber is a long thin strand of material composed of carbon atoms with a diameter of about 0.005mm to 0.010mm. Carbon atoms are bonded into microscopic crystals that are aligned parallel to long axis of the fiber. Carbon fiber offers strength, low specific gravity, modulus of elasticity, high corrosion resistance and can be molded into different shapes and size. These fibers are used in several applications such as aircraft and spacecraft parts, racing car chassis, bicycle frame, fishing rods and automobile spring where lightweight and high strength is needed.

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By product type, the global market for carbon fiber is categorized into continuous carbon fiber, long carbon fiber and short carbon fiber. Based on form, the carbon fiber market is categorized as composite, long and short. The carbon fiber market finds application in automotive, aerospace and defense, sporting goods, wind energy, civil engineering, pipe and tank, marine, and electrical and electronics. Aerospace and defense is estimated to rise during the forecasted period due to the rapid demand in lightweight components.

The global market for carbon fiber is segmented on the basis of raw material, product type, form, end use industry and region. The market segmentation for carbon fiber on the basis of raw material is PAN-based, pitch-based and rayon-based. Due to high yield and better processing properties, PAN-based carbon fiber have witnessed significant growth, in terms of value and volume, and is expected to rise during the forecast period.

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Market Segmentation

By Raw Material

PAN-based
Pitch–based
Rayon–based
By Product Type

Continuous carbon fiber
Long carbon fiber
Short carbon fiber
By Form

Composite
Non-composite
By End-User

Automotive
Aerospace and defence
Sporting goods
Wind energy
Civil engineering
Pipe and tank
Marine
Electrical and electronics
Others

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