North America Carbon Fiber Market Explored in the Latest Research by Top Players DowAksa, Formosa Plastics Corporation, Hexcel Corporation, Hyosung Corporation

The North America carbon fiber market is accounted to US$ 1,157.8 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecast period 2019 – 2027, to account to US$ 2,872.5 Mn by 2027.

Carbon fiber is defined as the long thin strand of material that is made up of carbon atoms possessing a diameter of about 0.005mm to 0.010mm. The fibers are rigid and chemically inert, making them difficult to compress and stretch. They provide high strength to the vessels, which helps to prevent the explosions of gas storage systems. They are used in several applications such as aerospace & defense, automotive, construction, and others. However, the high costs of carbon fiber manufacturing processes are limiting the market growth.

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Increasing demand to utilize renewable resources has led to an upsurge for the installation and demand for wind farms, with wide tracts of land and coastal areas devoted to the operation of wind turbines. The wind turbine manufacturers strive to produce more efficient and longer blades. Advanced composite materials such as carbon fiber is an upcoming component for the construction of wind turbines, specifically the blades. The companies operating in the North American market have noted that the longer the blades on a turbine, the more energy can be generated. The carbon fiber plays a vital role in the wind energy industry. Large blades are typically designed by stiffness and deflection, rather than taking into consideration the material strength. The high stiffness characteristic of carbon fiber lowers the blade deflection, allowing a larger tower diameter for a given blade-to-tower clearance. Carbon fiber is added in the spar cap, which is known to be the backbone of the blade.

The automotive manufacturers have been demanding new and innovative high-quality material for producing automotive components. These materials need to have the potential to fulfill the high-performance need of automotive manufacturers and also meet the needs of the customer and society. Among the various materials, carbon fiber is considered to be one of the most suitable materials for lightweight automobile parts. Moreover, the carbon-fiber-reinforced composites are used as the essential materials for the surrogate body and other parts of an automobile. The implementation of carbon fiber in the automobile industry has enhanced brake, steering, durability, and high fuel efficiency, which has an impact on energy conservation and minimizing carbon dioxide emissions.

The market for North America carbon fiber is concentrated with some very well-established players. Some of the key players in the North America Carbon fiber market include DowAksa, Formosa Plastics Corporation, Hexcel Corporation, Hyosung Corporation, Kureha Corporation, Mitsubishi Chemical Corporation, SGL Carbon, Solvay, Teijin Limited, and Toray Industries, Inc.. amongst the others.

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Table of Content:

1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Carbon Fiber Market – By Precursor
1.3.2 North America Carbon Fiber Market – By Form
1.3.3 North America Carbon Fiber Market – By End-Use Industry
1.3.4 North America Carbon Fiber Market – By Country

2. Key Takeaways

3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Carbon Fiber Market Landscape
4.1 Market Overview
4.2 PEST Analysis – North America

5. Carbon Fiber Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising demands from automotive and aerospace applications
5.1.2 Increasing usage of carbon fiber in wind energy industry
5.2 Restraints
5.2.1 High costs and other disadvantages associated with carbon fibers
5.3 Opportunity
5.3.1 Increasing usage of carbon fiber in the sporting goods industry
5.4 Future Trends
5.5 Impact Analysis of Drivers and Restraints

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