Carbon Fiber Market is Expected to Grow Exponentially Over USD 5 billion by 2029, Growth Strategies, Competitive Dynamics, Segmentation and Forecast

Carbon Fiber Market Overview:

Carbon fibres are a type of fibre made up of extremely thin filaments of carbon atoms measuring 6-10 micrometres in length. Carbon fibre is used in a variety of applications due to its unique properties such as high strength, low thermal expansion, light weight, corrosion resistance, exceptional sturdiness, electrical conduction, ultra-violet resistance, and corrosion resistance. Because of its superior properties, it is used in the production of woven materials, filament, paper or mat, chopper or processed fibre, and wind energy in a variety of industries including area & defence, automotive, sports & recreation, and wind energy.

The global carbon fiber market was valued at USD 2.46 billion in 2020 and is expected to grow at a CAGR of 8.25% to reach USD 5 billion by 2029.

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Carbon Fiber Market Key Players

The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are DowAksa Advanced Composites Holding B.V., Mitsubishi Chemical Holdings Corporation, Nippon Steel & Sumitomo Metal Corporation, OJSC SvetlogorskKhimvolokno, SGL Carbon SE, Teijin Limited (Teijin), Toray Industries Inc., Hexcel Corporation, Solvay SA, and H and Others

Recent Developments

April 2021: Mitsubishi Chemical Corporation entered into a partnership with Dymon Co. Ltd, the robot and space development venture. Based on this agreement, MCC will provide carbon fiber reinforced plastic (CFRP) components and thermoplastic materials, and technical support.
April 2021: Hyosung Advanced Materials signed a contract with Hanhwa Solutions to supply reinforced carbon fiber that is used in high-pressure containers for the long term.
In November 2020, SGL Carbon and Koller Kunststofftechnik manufacture composite windshields for BMW Group, for which SGL Carbon will be supplying innovative carbon fiber profiles.
In October 2020, Hyosung Group is strengthening its partnership with Saudi Aramco (Arabian American Oil Company), the world's largest comprehensive petrochemical company, for cooperation in the carbon fiber market, including the construction of new plants.
In July 2020, Teijin Carbon Europe and the United Kingdom's National Composites Centre strengthened their innovation partnership in carbon fiber composite materials.

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Carbon Fiber Market Segmentation:

Carbon Fibre Market by Raw Materials, 2020-2029, (USD Million), (Thousand Units)

Pan-Based Carbon Fiber
Pitch-Based
Rayon-Based Carbon Fiber

Carbon Fibre Market by Type, 2020-2029, (USD Million), (Thousand Units)

Virgin Fiber
Recycled Fiber

Carbon Fibre Market by Application, 2020-2029, (USD Million), (Thousand Units)

Composite Materials
Textiles
Microelectrodes
Catalysis

Carbon Fibre Market by End-Use Industry, 2020-2029, (USD Million), (Thousand Units)

Aerospace And Defense
Alternative Energy
Automotive
Construction And Infrastructure
Sporting Goods
Other End-User Industries

Growth Factors:

Increasing demand from the Carbon Fiber industries
The growing use of Carbon Fiber in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Carbon Fiber Market

Carbon Fiber Market Regional Analysis

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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 Key Carbon Fiber Market Trends

- The report identifies, determines, and forecasts the Global Carbon Fiber Market segments based on their type, sub-type, technology used, applications, end-users, and regions.

- Industry to Industry Holds Largest Share in the Carbon Fiber Market

- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.

- Demand from Regional / geographical is expected to drive the Growth

- Rising Adoption of Market Segments in the Carbon Fiber Growth

- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Carbon Fiber Market.

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