Carbon Fiber Market | Key players operating in the market include Toray Industries Inc., DowAksa, Solvay, Teijin Limited, SGL Carbon

The global Carbon Fiber Market size is estimated to be USD 3.7 billion in 2020 and is projected to reach USD 8.9 billion by 2031, at a CAGR of 8.6% between 2021 and 2031. The new developments across the carbon fiber value chain such as the expansion of production capacity by various players, new players entering into the market with low-cost carbon fibers, and demand from aerospace and automotive industries and new applications such as mining trucks and corrosive chemical tank containers are bolstering the market, globally.

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/carbon-fiber-396.html

Browse 316 market data Tables and 63 Figures spread through 356 Pages and in-depth TOC on "Carbon Fiber Market"

This growth is attributed to the increasing demand for lightweight and high strength materials such as carbon fiber as it results in fuel efficiency and safety in the aerospace & defense and automotive industries. The rising number of collaborations between the industries such as aerospace & defense and automotive and carbon fiber manufacturers for new projects is driving the market.

For instance, in October 2020, Teijin Limited signed an agreement with Safran S.A., an international high-technology group and tier-1 supplier of systems and equipment in the aerospace & defense market. Such agreements by leading carbon fiber producers would drive the growth of carbon fibers in the aerospace industry.

New applications such as 3D-printing, electrodes for batteries of electric vehicles, and medical composites offer major opportunities for the market growth. The stringent eco-friendly regulations emphasizing of lightweight and fuel efficient materials, is driving the growth of carbon fibers in lithium-ion batteries used in electric vehicles. Leading 3D-printing companies such as Staratsys and 3D Systems use carbon fiber-based composites to manufacture structural parts.

For more Details Speak to Our Analyst @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=396               

The top players in the carbon fiber market have implemented various strategies in the market. For instance, in February 2020, Mitsubishi Chemical Corporation acquired the German carbon fiber prepreg manufacturer, c-m-p GmbH through its subsidiary, Mitsubishi Chemical Advanced Material, in a move to strengthen its presence in the carbon fiber and carbon fiber composite material business. By this acquisition, the company has established its plants in Europe, the US, and Japan.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=396

The major players active in the market as Toray Industries Inc., (Japan), DowAksa (Turkey), Mitsubishi Chemical corporation (Japan), Solvay (Belgium), Teijin Limited (Japan), SGL Carbon (Germany), Hexcel Corporation (US), Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Co., Ltd. (China), Formosa Plastics Corporation (Taiwan), Jiangsu Hengshen Co., Ltd.  (China), and Jilin Chemical Fiber Group Co., Ltd. (China).

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441
Email: newsletter@marketsandmarkets.com
Press Release: https://www.marketsandmarkets.com/PressReleases/carbon-fiber.asp
Research Insights: https://www.marketsandmarkets.com/ResearchInsight/carbon-fiber.asp

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

This release was published on openPR.