Carbon Fiber Market 2021 Analysis by Global Manufacturers - Formosa Plastics Corporation, Hexcel Corporation, Solvay, TEIJIN LIMITED, TORAY INDUSTRIES INC.

The Global Carbon Fiber Market Report 2021-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend Carbon Fiber data that enhances the understanding, scope, and application of this report. The study includes market share analysis and profiles of players such as A&P Technology Inc., Anshan Sinocarb Carbon Fibers Co. Ltd, DowAksa USA LLC, Formosa Plastics Corporation, Hexcel Corporation, HYOSUNG ADVANCED MATERIALS, Jiangsu Hengshen Co. Ltd, KANGDEXIN COMPOSITE MATERIAL GROUP, Mitsubishi Chemical Corporation, Nippon Graphite Fiber Co. Ltd, SGL Carbon, Solvay, TEIJIN LIMITED, TORAY INDUSTRIES INC., ZHONGFU SHENYING CARBON FIBER CO. LTD, and others.

The market for carbon fiber is expected to register a CAGR of around 4% during the forecast period.

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Key Market Trends:

Polyacrylonitrile (PAN) to Dominate the Market

- Polyacrylonitrile is the most versatile precursor for carbon fiber. Also known as Creslan 61, it is a synthetic semi-crystalline polymer resin. Almost 90% of carbon fiber is produced using PAN.
- During the production of carbon fibers, initially the PAN precursor material is spun into a fiber form. It is then stretched and subjected to an oxidizing atmosphere and temperatures of about 200 _ 240 C for approximately 24 hours. The stabilized fibers are then heated in an inert atmosphere up to 1500 C. Then the fibers are heated to 3000 C in an inert environment, leading to graphitization.
- PAN is a thermoplastic resin having an uncharacteristically high melting point. PAN-based carbon fibers have relatively higher coat than pitch-based fibers and have good mechanical properties (high tensile strength). They are preferred in major applications, owing to high carbon yield, the potential of polymer to undergo cyclization reactions, and the lowest fraction of voids, which result in higher strength and stability, along with the flexibility to tailor the structure of the final product.
- PAN is used as a precursor for the production of carbon fiber for aerospace and defense applications and the sporting equipment industry. With the aerospace and defense and sporting equipment industries registering high growth, owing to the increasing adoption of sports and recreational activities and increasing health awareness, which is expected to drive the market for PAN as a raw material in carbon fiber through the forecast period in post COVID-19 recovery times.
- Toray CFE, Merck KGaA, Hexcel Corporation, SABIC, and Teijin Limited are some of the major manufacturers of PAN.

China to Dominate the Asia-Pacific Market

- The IMF projects a growth rate of 1.2%, for China, in 2020 and the country is expected to witness a growth rate of 9.2% in 2021 subject to the post-pandemic global economic recovery.
- China is the largest manufacturer of automobiles in the world. The country’s automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, to ensure fuel economy and minimize emissions, owing to the increasing environmental concerns, due to mounting pollution in the country. However, the market witnessed a shrink from 2018 and 2019, as the production decreased by 4.2% and 7.5% in those years, respectively. The trade war between China and the United States is the major reason for the drop in sales, along with the low domestic demand.

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What Are The Market Factors That Are Explained In The Report?

Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

Analytical Tools: The Carbon Fiber Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.                      

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