Carbon Fiber Tows Market Scope, Industry Share Global Trend and Forecast Report | Key Players: oray Composite Materials America, Fiber-line, SGL Carbon, Cytec Solvay, Teijin

One of the most widely used advanced carbon composite materials is carbon fiber. Carbon fiber fabrics have superior properties including stiffness and tensile strength, as well as being lightweight. Carbon fiber has a strength profile similar to that of steel, and its weight is comparable to that of plastic. Carbon fiber has a much higher strength-to-weight ratio and stiffness-to-weight ratio than steel and plastic. As a result, carbon fiber is known as one of the strongest materials available. Carbon fiber is an ideal construction material because of these properties, and it is used in a variety of industries.

Carbon fiber has traditionally been used as a composite material for various parts and components of aircraft in the aerospace and defense industries. Carbon fiber-based composites are used in aerospace components such as tie rods, ballistic shields, compression struts, cooling tubes, shuttle actuator mounts, and turbine fan blades. Carbon fiber reduces structural weight, allowing for improved fuel consumption. Carbon fiber is being widely adopted in the automotive industry as a result of these advantages. In cars, carbon fiber is used to minimize weight, improve durability, and improve fuel efficiency.

Carbon fiber demand is expected to increase in the near future, thanks to increased demand from the automotive industry. Owing to the high cost of carbon fiber material, its use has been restricted to the aerospace and defense industries until now. However, as manufacturing technology improves, the cost of standard tow (small tow) carbon fiber is decreasing. Furthermore, the suitability of low-grade (large tow) carbon fiber for automotive applications is driving demand for large tow carbon fiber, bringing carbon fiber closer to mass market applications.

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Growth Drivers that Support the Global Carbon Fiber Tows Market:

• Based on type, PAN (polyacrylonitrile), pitch, and rayon precursor materials are used to make almost all carbon fiber. Due to its superior stability and strength, as well as higher carbon yield, PAN is a common precursor, accounting for a major percent of the Carbon Fiber Tows market in 2019.

• In terms of sales, the aerospace application segment contributed substantially to the overall market share. This is due to the higher cost of aerospace grade carbon compared to other carbon fiber requirements available on the Carbon Fiber Tows market. The commercial aviation segment is expected to contribute significantly to the industry's growth.

Companies are keen to expand their Global Foot-Print

• Teijin signed an agreement to supply its TENAX carbon fiber material to Bombardier Aerostructures and Engineering Services in January 2019. This aided the company's medium-term expansion in the aircraft industry.

• Hexcel Corporation's latest advanced composites plant at the Les Roches-Roussillon Chemicals Industry Platform in France opened in October 2018. This plant will assist in meeting the carbon composite material needs of aerospace customers.

• Toray Industries, Inc. produced the TORAYCA MX series of higher tensile strength and tensile modulus carbon fiber in November 2017. This carbon fiber is primarily used in aerospace, industry, and sports.

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Major companies functioning in the global Carbon Fiber Tows Market are Fiber-line, Toray Composite Materials America, SGL Carbon, Teijin, Cytec Solvay, Dow Aksa, Gernitex, Nippon Graphite Fibre, Hexcel Corporation

Market Segmentation: By Type:
• PAN Based Carbon Fiber
• Pitch Based Carbon FiberBy Application:
• Aerospace
• Commercial
• Defense
• Infrastructure
• OthersBy Region:
• North America
◦ North America, by Country
▪ US
▪ Canada
▪ Mexico
◦ North America, by Type
◦ North America, by Application • Western Europe
◦ Western Europe, by Country
▪ Germany
▪ UK
▪ France
▪ Italy
▪ Spain
▪ The Netherlands
▪ Rest of Western Europe
◦ Western Europe, by Type
◦ Western Europe, by Application • Asia Pacific
◦ Asia Pacific, by Country
▪ China
▪ India
▪ Japan
▪ South Korea
▪ Australia
▪ Indonesia
▪ Rest of Asia Pacific
◦ Asia Pacific, by Type
◦ Asia Pacific, by Application • Eastern Europe
◦ Eastern Europe, by Country
▪ Russia
▪ Turkey
▪ Rest of Eastern Europe
◦ Eastern Europe, by Type
◦ Eastern Europe, by Application • Middle East
◦ Middle East, by Country
▪ UAE
▪ Saudi Arabia
▪ Qatar
▪ Iran
▪ Rest of Middle East
◦ Middle East, by Type
◦ Middle East, by Application • Rest of the World
◦ Rest of the World, by Country
▪ South America
▪ Africa
◦ Rest of the World, by Type
◦ Rest of the World, by Application

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This release was published on openPR.