Global Carbon Fiber Market Companies Toray, Teijin, Mitsubishi Chemical Corporation, Kureha, Hexcel, Solvay, SGL Carbon, Formosa Plastics, Hyosung Advanced Material (HAMC) and Others

Carbon fiber is a kind of inorganic high performance fiber (with carbon content higher than 90%) converted from organic fiber through heat treatment. As a new material with good mechanical properties, carbon fiber features both the intrinsic properties of carbon materials, and the flexibility and machinability of textile fiber. In combination with basis materials like resin, metal and ceramics, the new-generation reinforced fiber with unique properties of high strength and high modulus can be made into composites used widely in military industry, aerospace, transportation, new energy, automotive lightweight and sports gears among others. In 2020, the global carbon fiber market output hit 106.9kt, following more than 100 kt in 2019; the global demand for carbon fiber still sustained growth at an annualized rate of 3%, much lower than 12% in 2019.

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By global application, in 2020, Wind Turbine Blades and Aerospace demanded the most carbon fiber, up to 30.6kt and 16.5kt, respectively. The wind power segment still sustained noticeable growth of 20%, compared with the hard-hit aerospace segment (civil aviation and business jet have been seriously affected) which consumed far less carbon fiber. Wind power is a promising market, especially when wind power companies in China use carbon fiber in large quantities.

In 2020, the global carbon fiber industry boasted effective capacity of 167.9kt, about 13kt more than in 2019. The US, China and Japan had capacity of 37.3 kt, 36.2kt and 29.2k, separately, together sweeping over 60% of the global total.

As the world’s largest carbon fiber market, China demands ever more carbon fiber. In 2020, its total demand reached 48.9kt, a year-on-year jump of 28.97%, showing CAGR of 23.8% for six years.

In terms of demand in China, in 2020 carbon fiber was largely used in Wind Turbine Blades and Sports: Wind Turbine Blades accounted for 40.9% of the total demand; Sports & Leisure followed with a share of 29.9%. Carbon/Carbon Composites, Building Reinforcement, Pressure Vessels, Hybrid Molding and Aerospace each took up 3% to 6%.

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By provincial demand, in 2020, Jiangsu, Shandong and Guangdong demanded more carbon fiber, occupying 38%, 22% and 19% of China’s total demand, respectively, totaling 79%; Fujian and Shanghai shared 6% and 5% apiece; other provinces took relatively small shares. Guangdong which used to stubbornly stay at the first spot was overtaken by Jiangsu in 2019 and is surpassed by Shandong in 2020 because of winder power.
Among current carbon fiber producers, the top five companies are Japan’s Toray (including the US-based Zoltek it acquired), Mitsubishi Chemical and Toho, Germany’s SGL Carbon, and America’s Hexcel, four of which are American and Japanese players with combined operating capacity of 91.6kt, or 53.36% of the global total. Toray leads in R&D and production of high-performance carbon fiber, making itself an accepted bellwether in the industry, with operating capacity of 54.5kt in 2020, or 31.75% of the global total capacity. Toray has a big say in the industry for its carbon fiber models and classification are common benchmarks.

Although the global market is still monopolized by a few developed countries, carbon fiber companies in China are working hard on it: in 2020, China had 45kt capacity operating, or 26.2% of the global total. Typical local players include Zhongfu Shenying Carbon Fiber, Jiangsu Hengshen and GW Compos. In 2020, the world added capacity: Zoltek’s 5kt/a in Hungary, 2kt/a of Tangu and Baojing, 2kt/a of Zhongfu Shenying Carbon Fiber, 2kt/a of GW Compos, and 2kt/a of Hyosung.

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Global and China Carbon Fiber Industry Report, 2021-2026 highlights the following:
Carbon fiber (classification, technology level, industry chain, etc.);
Global carbon fiber market (status quo, supply and demand, competitive landscape, patents, price, development trends, etc.);
China carbon fiber market (policies, status quo, supply and demand, industrial structure, import and export, competitive landscape, price, development trends, etc.);
Carbon fiber composites market (size, structure, cost structure, patents, competitive landscape, etc.);
Upstream market (precursor) and downstream markets (aviation & aerospace, automotive, wind power, sports & leisure, etc.) (size, application, etc.);
11 foreign and 14 Chinese carbon fiber & composites producers (operation, carbon fiber business, etc.)

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This release was published on openPR.