Carbon Fiber Market Size to Gain $6.84Bn, Revenue by 2027

According to The Insight Partners new research study on Carbon Fiber Market to 2027 - COVID-19 Impact and Global Analysis- Raw Material (PAN and Pitch) End Use Industry (Automotive, Aerospace and Defense, Construction, Sporting Goods, Wind Energy and Others)" includes the market growth governing factors, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

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Strategic Insights

Key players operating in the global carbon fiber market are Toray Industries, Inc.; SGL Group; Solvay; and Hexcel Corporation. Major players in the carbon fiber market are focused on strategies such as mergers and acquisitions, and product launches to expand their geographic presence and consumer base. For instance, in 2019, Hyosung Corporation and Saudi Aramco announced to develop a carbon fiber manufacturing plants in South Korea and Saudi Arabia.

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Report Spotlights

Progressive industry trends in the global carbon fiber market to help players develop effective long-term strategies
Business growth strategies adopted by developed and developing markets
Quantitative analysis of the market from 2017 to 2027
Estimation of the demand for carbon fiber across various industries
PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
Recent developments to understand the competitive market scenario and the demand for carbon fiber
Market trends and outlook coupled with factors driving and restraining the growth of the carbon fiber market
Decision-making process by understanding strategies that underpin commercial interest about global carbon fiber market growth
Based on raw material, the carbon fiber market is categorized into PAN and pitch. In 2019, the PAN segment held a larger share of the market. PAN, i.e., polyacrylonitrile contains ~68% of carbon and is one of the most widely used precursors in carbon fiber manufacturing. PAN is manufactured by polymerizing acrylonitrile (AN) using inhibitory azo compounds and peroxides. Suspension polymerization and solution polymerization are the two major types of the polymerization process. The solution polymerization is a preferred method as the PAN solution produced can be directly used as a fiber spinning dope after removing the unreacted monomers.

The most common solvents used in this process are sodium thiocyanate, zinc chloride, and dimethyl sulfoxide. To produce PAN with higher molecular weights, the solvent needs to have a low chain transfer coefficient. On the other hand, the suspension polymerization method is used to achieve PAN with linear polymers and higher molecular weights. The molecular weight of PAN used for spinning usually ranges from 70-260k, with the polydispersity index of ~1.5-3.0. The PAN polymerization is run either as a continuous process or as a batch process. A continuous process is used to produce the polymer with relatively wide molecular weight distribution, whereas a continuous process is used in large-scale production processes.

The global carbon fiber market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. In 2019, Asia Pacific contributed to the largest share in the global market. The largest market share of this region is primarily attributed to the presence of major manufacturers, with increasingly high production capacities, in the region. Moreover, strict environmental regulations also promote the use of carbon-based composites in the region. Developments in automotive, aerospace & defense, construction and other sectors further propels the growth of the carbon fibers market. Further, the market in Asia Pacific is characterized by a strong presence of companies such as Toray Industries, Inc.; SGL Group; Hexcel Corporation; and Mitsubishi Chemical Corporation.

The global carbon fiber market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. In 2019, Asia Pacific contributed to the largest share in the global market. The largest market share of this region is primarily attributed to the presence of major manufacturers, with increasingly high production capacities, in the region. Moreover, strict environmental regulations also promote the use of carbon-based composites in the region. Developments in automotive, aerospace & defense, construction and other sectors further propels the growth of the carbon fibers market. Further, the market in Asia Pacific is characterized by a strong presence of companies such as Toray Industries, Inc.; SGL Group; Hexcel Corporation; and Mitsubishi Chemical Corporation.

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The global carbon fiber market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. In 2019, Asia Pacific contributed to the largest share in the global market. The largest market share of this region is primarily attributed to the presence of major manufacturers, with increasingly high production capacities, in the region. Moreover, strict environmental regulations also promote the use of carbon-based composites in the region. Developments in automotive, aerospace & defense, construction and other sectors further propels the growth of the carbon fibers market. Further, the market in Asia Pacific is characterized by a strong presence of companies such as Toray Industries, Inc.; SGL Group; Hexcel Corporation; and Mitsubishi Chemical Corporation.

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