Press release
The Global Carbon Fiber Market Is Set To Reach A Valuation Of US$ 11.44 Billion By The End Of 2032
The global carbon fibre market was valued at $4.49 billion in 2021 and is expected to reach $11.44 billion by 2032, growing at a 9.1% CAGR between 2022 and 2032.Carbon fibre consumption in the aerospace and defence industries is expected to grow rapidly at a CAGR of 10.3%. Government organisations are investing heavily in the aerospace and defence industries, which is fueling global demand for carbon fibre.
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Competitive Landscape
The global carbon fiber market is highly competitive in nature. Leading market players are focusing their efforts on developing innovative products to strengthen their position in the global market and are adopting strategies such as acquisitions and mergers.
For instance :
In April 2021, Impossible Objects and Ricoh 3D entered into a new partnership to make carbon fiber composite materials for printing on the Composite Based Additive Manufacturing (CBAM) process. The new material options remove barriers to printing parts for drones, aircraft, automobiles, athletic gear, and more.
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Key Segments Covered in Carbon Fiber Industry Research
Carbon Fiber Market by Precursor Material Type :
PAN-based Carbon Fiber
Pitch-based Carbon Fiber
Rayon-based Carbon Fiber
Carbon Fiber Market by Tow Size :
Small Tow Carbon Fiber
Large Tow Carbon Fiber
Carbon Fiber Market by End Use :
Aerospace & Defense
Sporting Goods
Automotive
Electrical & Electronics
Wind Energy
Civil Engineering
Other End Uses
Carbon Fiber Market by Region :
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Which region is expected to provide the greatest opportunity for carbon fibre suppliers?
"Surging Recycled Carbon Fiber Sales Drive Market Growth in North America"
North America holds 32.8% of the global carbon fibre market. The region's market growth is being driven by the presence of a large number of electric car manufacturers, as well as rising demand for lightweight and fuel-efficient vehicles. Increased R&D investments by automakers in order to produce cost-effective carbon composite materials are fueling the growth of the carbon composites market.
The rapid adoption of lightweight composite materials in the aviation industry, as well as the growing popularity of recycled carbon fibre, are expected to drive market expansion in North America. The installation of renewable energy has increased the demand for it.
The report clarifies several important questions about the Carbon Fiber Market:
1. Which regional market is expected to grow the most during the forecast period?
2. How has the rise in raw material prices caused by the COVID-19 pandemic affected the growth of the Carbon Fiber Market?
3. Why are market participants concentrating on R&D and innovation?
4. Are market participants increasing their global presence? If so, how so?
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