Carbon Fiber Market Analysis, Market Size, In-Depth Insights, Growth and Forecast 2021-2025

The demand within the global carbon fiber market is slated to touch unprecedented heights in between the forecast years of 2021 and 2025, predicts Fairfield Market Research. This prediction can be attributed to the use of carbon fiber in heavy-duty industries such as defense, aerospace, and automotive. Over the course of the next decade, the use of carbon fiber is expected to make headway in the medical field across a range of domains. Some of these domains include X-ray technology, imaging equipment, and prosthetics. The high strength and light weight of carbon fiber makes it a sound ingredient for manufacturing prosthetic limbs. In addition to this, use of carbon fibers is gaining momentum in the sports goods industry. Needless to say, this widely-explored and emerging material has eased the way forward for several manufacturing units looking to combine strength with agility in their product offerings. The success of Boeing's new 787 Dreamliner is believed to be due to the high usage of carbon fiber composites in its structure.

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Use of Carbon Fiber in Electric Vehicles to Bolster Market Growth

The high strength of carbon fibers, coupled with their low weight-to-strength ratio has made them a favorite amongst manufacturers of electric vehicles. Porsche has already created immense buzz across the global automobile industry by uncovering its Mission R Concept for electric motorsports. The success of Porsche's electric ambitions in the motorsports domain is expected to play a vital role in driving demand within the global carbon fiber market. Porsche has pioneered the use of carbon fibers in electric vehicles to ensure weight-balance for the racing car. As electric vehicles gain popularity across the globe, the global carbon fiber market is projected to grow by leaps and bounds.

Use of Carbon Fiber to Emerge as a Key Highlight of German Manufacturing Technologies

The automotive industry across Germany has, time and again, made headlines due to its excellence in manufacturing and innovation. Moreover, the aerospace sector of Germany has also traced a trajectory of success and recognition in using carbon fiber across its products. These factors are playing a crucial role in the growth of the global carbon fiber market. Airbus is a renowned player across the aerospace industry that has majority of its operations actualized in Europe. Use of carbon fibers across Airbus' plants in Hamburg, Seville, and Toulouse is slated to drive sales across the European market. Furthermore, presence of several engine production and automobile assembly plants in Europe is also shaping the growth graph of the market.

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Investments in Defense and Military Industries Could Trickle Down to the Carbon Fiber Market

The world's leading economies are strengthening their military industries through development of localized defense technologies. This is projected to drive sales across the global carbon fiber market, mainly due to the heavy usage of carbon fibers in manufacturing defense equipment and technologies.

Some of the leading players marking their territory across the global carbon fiber market are SGL Carbon, Toray, Hexcel, Teijin, and Mitsubishi Chemical. Hyosung Advanced Materials is making rapid strides of growth as it plans to invest US$825 Mn worth of funds to install 10 new lines by 2028.

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