openPR Logo
Press release

Carbon Fiber Market worth $13.3 billion by 2029 | Key Players include Toray Industries Inc., SGL Group, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., Teijin Limited, Formosa Plastics Corporation, Solvay, Jiangsu Hengshen Co. Ltd., Hyosung, and DowAksa

11-18-2019 06:33 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: MarketsandMarkets

Carbon Fiber Market, Carbon Fiber

Carbon Fiber Market, Carbon Fiber

According to recent market research "Carbon Fiber Market by Raw Material (PAN, Pitch, Rayon), Fiber Type (Virgin, Recycled), Product Type, Modulus, Application (Composite, Non-composite), End-use Industry (A & D, Automotive, Wind Energy), and Region - Global Forecast to 2029", The carbon fiber market is expected to grow from USD 4.7 billion in 2019 to USD 13.3 billion by 2029, at a CAGR of 11.0% during the forecast period.

The carbon fiber market is growing due to its increasing demand from the aerospace & defense, automotive, and wind energy industries. Boeing and Airbus have increased the production of commercial aircraft to cater to the rising airline passenger traffic. The increasing use of carbon fiber in electric cars and rising aircraft production are the major drivers for the market.

Browse 88 market data Tables and 55 Figures spread through 168 Pages and in-depth TOC on "Carbon Fiber Market - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/carbon-fiber-396.html

The carbon fiber market size is estimated to be USD 4.7 billion in 2019 and is projected to reach USD 13.3 billion by 2029, at a CAGR of 11.0% during the forecast period. The new developments across the carbon fiber value chain such as the expansion of production capacity by various players, new players entering into the market with low-cost carbon fibers, and demand from aerospace and automotive industries and new applications such as mining trucks and corrosive chemical tank containers are bolstering the market, globally.

This growth is attributed to the increasing demand for lightweight and high strength materials such as carbon fiber as it results in fuel efficiency and safety in the aerospace & defense and automotive industries. The rising number of collaborations between the industries such as aerospace & defense and automotive and carbon fiber manufacturers for new projects is driving the market. For instance, in June 2018, Airbus and Bombardier (Quebec, Canada) entered into a partnership for the production of the C Series aircraft. Agreements have been signed between research organizations and carbon fiber manufacturers to manufacture low-cost carbon fibers for the automotive industry. For instance, in May 2016, RMX Technologies (US) subsidiary, 4M Carbon Fiber (US) entered into an agreement with Oak Ridge National Laboratory (US) to manufacture low-cost carbon fiber through plasma oxidation technology.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=396

The high modulus of carbon fibers has resulted in its widespread use across numerous industries, including aerospace, automotive, sports, energy, and marine. The increasing penetration of carbon fiber as a replacement to traditional materials in these industries, coupled with the advancement of these industries, is set to result in the significant demand for carbon fiber over the next few years. The carbon fiber market is expected to grow from USD 4.7 billion in 2019 to USD 13.3 billion by 2029, at a CAGR of 11.0% during the forecast period.

Over the past few years, companies have strengthened their position in the global carbon fiber market by adopting strategies such as new product launch, expansion & agreement, and partnership & joint venture.

From 2014 to 2019, expansion and new product launch were the key strategies adopted by the market players to maintain growth in the global carbon fiber market. These strategies accounted for 30% and 16%, respectively, of the overall strategies adopted between 2014 and 2019. The market players concentrated mainly on consolidation through new product launch and expansion with the focus on increasing their market shares and enhancing their sustainability.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=396

Toray Industries Inc. (Japan), Hexcel Corporation (US), and SGL Group (Germany) are the major players in the carbon fiber market.

Toray Industries Inc. (Japan) is one of the leading companies and the largest contributor to the growth of the global carbon fiber market. It accounted for the largest share of all the development activities undertaken in the global market between 2014 and 2019. As a part of its growth strategy, the company focused on production expansion to meet the requirements of end-use industries, globally. For instance, in April 2018, the company expanded large tow carbon fiber production capacity at its US-based subsidiary, Zoltek Companies, Inc. (US). The company is also planning to increase the production capacity of Zoltek’s Hungarian and Mexican facilities. This will lead to Zoltek’s total annual production capacity to be approximately 25,000 tons.

SGL Group (Germany) is the second-largest player in the carbon fiber market. It has a production capacity of 15,000 tons per annum. The company is involved in improving their position in value chain with particular emphasis on innovation, high value-added products, and services. The company is involved in providing innovative and effective solutions for distinguished automotive clients around the globe. In December 2018, the company entered into an agreement with BMW Group for the supply of carbon fibers and scrims for BMW iNeXT to position itself as a supplier of fibers, materials, and components to the automotive industry.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/carbon-fiber.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/carbon-fiber.asp

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Carbon Fiber Market worth $13.3 billion by 2029 | Key Players include Toray Industries Inc., SGL Group, Hexcel Corporation, Mitsubishi Rayon Co. Ltd., Teijin Limited, Formosa Plastics Corporation, Solvay, Jiangsu Hengshen Co. Ltd., Hyosung, and DowAksa here

News-ID: 1868400 • Views:

More Releases from MarketsandMarkets

Endoscopic Submucosal Dissection Market Revenue Forecast | Latest Industry Updates
Endoscopic Submucosal Dissection Market Revenue Forecast | Latest Industry Updat …
Endoscopic Submucosal Dissection Industry Overview Endoscopic Submucosal Dissection Market is projected to reach USD 483 million by 2027 from USD 347 million in 2022, at a CAGR of 6.9% according to a new report by MarketsandMarkets™. Browse Complete Report along with TOC @ https://www.marketsandmarkets.com/Market-Reports/endoscopic-submucosal-dissection-market-116451960.html Endoscopy is increasingly being used to remove precancerous and cancerous areas in the GI tract. The rising incidence of target diseases such as cancer is expected to accelerate
Silicone Resins Market worth $6.3 billion by 2026 | Key players Evonik Industry AG (Germany), Shin-Etsu Chemical Co. Ltd. (Japan).
Silicone Resins Market worth $6.3 billion by 2026 | Key players Evonik Industry …
According to recent market research the "Silicone Resins Market by Type (Methyl, Methyl Phenyl), Application, End-Use Industry (Automotive & Transportation, Building & Construction, Electrical & Electronics, Healthcare, Industrial) and Region - Global Forecast to 2026", size is expected to grow from USD 4.8 billion in 2021 to USD 6.3 billion by 2026, at a CAGR of 5.5% during the forecast period. The driving factors for the silicone resins market is
Polymer Blends & Alloys Market worth $6.6 billion by 2028 | Key players Covestro AG (Germany), BASF SE (Germany), Celanese Corporation (US), LG Chemical (South Korea).
Polymer Blends & Alloys Market worth $6.6 billion by 2028 | Key players Covestro …
According to recent market research the "Polymer Blends & Alloys Market by Type (PC, PPE/PPO-Based Blends and Alloys), Application (Automotive, Electrical and Electronics, Consumer Goods), and Region (Europe, North America, Asia Pacific, and RoW) - Global Forecasts to 2028", is estimated at USD 4.4 billion in 2022 and is projected to reach USD 6.6 billion by 2028, at a CAGR of 6.7% from 2023 to 2028. Factors such as the
Recloser Market is Projected to Reach $1.5 billion by 2030 | Leading key players are Schneider Electric, Eaton, ABB, General Electric, Siemens
Recloser Market is Projected to Reach $1.5 billion by 2030 | Leading key players …
According to a research report "Recloser Market by Phase (Three-phase, Single-phase, and Triple Single-phase), Control Type (Electronic and Hydraulic), Voltage Rating (Up to 15 kV, 16-27 kV, and 28-38 kV), Insulation Medium (Oil, air, and epoxy) Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for recloser is projected to reach approximately USD 1.5 billion by the year 2030, as compared to the estimated value of USD

All 5 Releases


More Releases for Fiber

Fiber Laser Market Forecast to 2028 COVID-19 Impact and Global Analysis By Type …
The fiber laser market was valued at US$ 2286.16 million in 2021 and is projected to reach US$ 4,765.43 million by 2028; it is expected to grow at a CAGR of 11.1% from 2021 to 2028. Automotive production is constantly rising across the world, particularly in Asian and European countries, which is driving the demand for fiber lasers. Most automotive manufacturers are rapidly turning to fiber lasers to resolve their manufacturing
Pea Fiber Market Inclinations Exhibit Growing Demand during the Period until 202 …
The new report on the pea fiber market provides estimations of the size of the global market and share and size of key regional markets during the historical period of 2014 – 2018. This highly favorable growth of the pea protein creates a highly conducive environment for the associated pea fiber market, which is expected to exhibit a promising CAGR of ~8% during the forecast period (2019-2029. The business intelligence
Optical Fiber and Optical Fiber Cables Market
Optical Fibers and Optical Fiber Cables Market describes its growth, size, share, Forecast and trends to 2025 Optical Fibers and Optical Fiber Cables Market Production and Demand Analysis 2019 to 2025 Optical Fibers and Optical Fiber Cables Market 2019 Manufacturing Analysis and Development Forecast to 2025 Optical Fibers and Optical Fiber Cables Market 2019: Recent Study Including Growth Factors, Regional Drivers, Forecast 2025 Optical Fibers and Optical Fiber Cables Market Insights 2019, Global and
Aramid Fiber Market (Para-Aramid Fiber, Meta-Aramid Fiber) by Type, Application …
The aramid fiber market (http://www.rnrmarketresearch.com/aramid-fiber-market-by-type-para-aramid-fiber-meta-aramid-fiber-and-application-security-protection-frictional-material-tire-rubber-reinforcement-optical-fiber-electrical-insulation-aeros-market-report.html) is projected to grow from USD 3.28 billion in 2018 to USD 5.78 billion by 2024, at a CAGR of 9.9%. The increasing demand for lightweight materials for automotive components owing to stringent environmental and emission regulations is expected to drive the market in the automotive industry. In addition, the demand for lightweight and flexible materials for body armor, firefighting equipment, bulletproof vests, helmets, and
Fiber Laser Market 2025 - Global Analysis and Forecasts by Type (Infrared Fiber …
The "Global Fiber Laser Market Analysis to 2025" is a specialized and in-depth study of the fiber laser industry with a focus on the global market trend. The report aims to provide an overview of global fiber laser market with detailed market segmentation by type, application and geography. The global fiber laser market is expected to witness high growth during the forecast period. The report provides key statistics on the
Concrete Fiber Market Growth Study by Type [Synthetic Concrete Fiber, Steel Conc …
Fiber reinforced concrete involves the use of fibrous material to increase the structural integrity of concrete. Fibers are typically used in concrete to control cracking and faults that occur due to the shrinkage of plastic and evaporation of water during hardening stage of concrete. Concrete fibers are majorly used in different end-user industries such as residential, commercial, industrial, building, and construction. Moreover, fibers add tensile strength and toughness in concrete