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Carbon Fiber Market Share, Growth Analysis, Trends And Industry Forecast To 2032
Carbon Fiber Market Analysis
The Business Research Company's Carbon Fiber Global Market Report 2023 identifies growing automotive industry as the major driver for the carbon fiber market's growth in the forecast period. The automotive industry is a sector that encompasses numerous organizations and firms involved in the design, development, manufacture, marketing, selling, and maintenance of motor vehicles. Carbon fiber makes lightweight and high-strength vehicle body parts and components in the automotive industry, improving fuel efficiency, performance, and weight reduction in vehicles, particularly vehicles.
The global carbon fiber market size is expected to grow from $4.27 billion in 2022 to $4.69 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global carbon fiber market size is expected to reach $6.57 billion in 2027 at a CAGR of 8.8%.
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Major competitors in the carbon fiber market are Toray Industries Inc., Solvay SA, Nippon Graphite Fiber Co. Ltd., Teijin Limited, Hexcel Corporation, Hyosung Advanced Materials Corp., Mitsubishi Chemical Carbon Fiber and Composites Inc.
A key trend in the carbon fiber market includes technological innovations. Major companies operating in the carbon fiber market are developing innovative technologies to strengthen their position in the market. For instance, in December 2022, Asahi Kasei Corporation, a Japan-based chemical company, developed a recycling technology for inexpensive, high-quality carbon fiber. This innovative recycling technology aims to implement a recycling system using recycled carbon fiber from automobiles to make new carbon fiber-reinforced plastic (CFRP) or carbon fiber-reinforced thermoplastic (CFRTP) for cars. It has made it possible to produce high-quality, reasonably priced CFRTP using recycled carbon fiber from cars. Additionally, it will reduce vehicle weight and save energy.
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The carbon fiber market is segmented -
1) By Type: Virgin Fiber (VCF), Recycled Carbon Fiber (RCF)
2) By Raw Material: Polyacrylonitrile (PAN), Petroleum Pitch, Rayon
3) By Tow: Large Tow, Small Tow
4) By Application: Composite Materials, Textiles, Microelectrodes, Catalysis
5) By End-Users: Aerospace And Defense, Automotive, Wind Energy, Pipes And Tanks, Sporting Goods, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Western Europe was the largest region in the carbon fiber market.
The Business Research Company's "Global Carbon Fiber Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Carbon Fiber Market Include:
1. Executive Summary
2. Carbon Fiber Market Characteristics
3. Carbon Fiber Market Trends And Strategies
4. Carbon Fiber Market - Macro Economic Scenario
5. Carbon Fiber Market Size And Growth
…….
26. Africa Carbon Fiber Market
27. Carbon Fiber Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Carbon Fiber Market
29. Carbon Fiber Market Future Outlook and Potential Analysis
30. Appendix
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