Impact of Covid-19 on Carbon Fiber Market and how its adversely affecting the whole Industry and World Economy

The rise in demand from end users, especially from developing countries, and developments for enhancement of properties of the materials are the factors that boost the growth of the global carbon fiber market. However, their high cost and non-recyclability are expected to limit the growth. North America carbon fiber market is expected to grow significantly, owing to the presence of major manufacturer in the region. Also, the demand from the aerospace & defense, wind turbines and marine are likely to drive the market for carbon fiber in North America.

Increased demand in aerospace and defense market for high-performance carbon fiber drives the growth of the market. Click here to know more @ https://www.researchdive.com/download-sample/8

1 Key Findings of North America Carbon Fiber Market:

o North America carbon fiber market is projected to grow at a CAGR of 11.0% during the forecast period

o The U.S. is expected to grow with the highest CAGR in the North American carbon fiber market size in terms of revenue, over the projected period

o The composite carbon fiber held large share in 2017 and is projected to grow due to current trends and inclination towards them by 2025.

o The Pan-based carbon fiber is projected to grow at higher CAGR due to increased demand and current trends in market.

o The qualitative data in North America carbon fiber report aims on the market dynamics, trends, and developments in the North America carbon fiber industry while the quantitative data provides information of the size in terms of revenue.

Check out How U.S. is expected to grow with the highest CAGR in the North American carbon fiber market size in terms of revenue @ https://www.researchdive.com/purchase-enquiry/8

2 KEY MARKET SEGMENTS

By Raw Material

o PAN-based Carbon Fiber
o Pitch-based & Rayon-based Carbon Fiber

By Type

o Continuous
o Short
o Long

By Form

o Composite
o Non-Composite

By End-User

o Aerospace & Defense
o Sports/Leisure
o Wind Turbines
o Molding & Compounds
o Automotive
o Pressure Vessels
o Civil Engineering
o Marine
o Pultrusion Misc.
o Misc. Consumer
o Sailing/Yacht Building
o Others (Energy and Oil & Gas)

By Country

o U.S.
o Canada
o Mexico

3 Increased penetration of carbon fiber components in automotive drives the market growth

To know more in details with statistics and in-depth information about carbon fiber market. Speak to Analyst @ https://www.researchdive.com/connect-to-analyst/8

The increased penetration of carbon fiber components in automotive drives the market growth. In addition, the government rules & regulations for controlling greenhouse gas emissions benefits the carbon fiber market. Moreover, the increased demand in aerospace and defense market for high-performance carbon fiber drives the growth of the market. Applications of carbon fiber in wind turbines and medical industry provides great opportunity for the carbon fiber market. However, the longer production cycle of carbon fiber and higher costs hamper the market growth.

4 Key Market Players

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The major key players operating in the North American carbon fiber industry include Hexcel Corporation, Solvay, Plasan Carbon Composites, TORAY INDUSTRIES, INC., Mitsubishi Chemical Corporation, 3M, Nippon Graphite Fiber Co., Ltd., DowAksa, Formosa Plastics Corporation, U.S.A. and Advanced Composites Inc. The North American companies are expanding their business in emerging markets to increase their regional footprint. The companies are adopting various strategies like mergers, collaboration, acquisition and agreement for business expansion and technological advancements.

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This release was published on openPR.