Carbon Fiber Market Size Will be Expected to Boom USD 5 billion, at a 8.2% CAGR by 2029 | Toray Inc., Hexcel Corp., Solvay SA

Exactitude Consultancy Market Research analyses that the Carbon Fiber Market will witness a CAGR of 8.2% for the forecast period of 2023-2029 and is likely USD 2.46 billion in 2022 to reach at USD 5 billion by 2029.

Carbon Fiber is a polymer and is sometimes known as graphite fiber. It is a very strong material that is also very lightweight. Carbon fiber is five-times stronger than steel and twice as stiff. Though carbon fiber is stronger and stiffer than steel, it is lighter than steel, making it the ideal manufacturing material for many parts. These are just a few reasons why carbon fiber is favored by engineers and designers for manufacturing. Carbon fiber is made of thin, strong crystalline filaments of carbon that is used to strengthen material. Carbon fiber can be thinner than a strand of human hair and gets its strength when twisted together like yarn. Then it can be woven together to form cloth and if needed to take a permanent shape, carbon fiber can be laid over a mold and coated in resin or plastic. Carbon fiber is composed of carbon atoms bonded together to form a long chain. The fibers are extremely stiff, strong, and light and are used in many processes to create excellent building materials.

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Carbon Fiber Market Dynamics

✦  Carbon Fiber Market Driver

Increasing Product Usage in Automotive Sector to Drive Market Growth

Carbon fiber market growth is expected to be fueled by rising automotive production and a growing need for lightweight vehicles. Manufacturers' increased demand for vehicle body parts such as hoods, deck lids, bumper beams, and fenders may encourage product demand. The use of carbon fibers boosts vehicle durability, resulting in longer life auto parts. The market is being driven by the usage of composites in motorsports and premium vehicles.

Companies are implementing ideas and investing in processes that will reduce the overall weight of the vehicle. As a result, carbon fibre reinforced polymer (CFRP) is frequently employed in high-end supercars. The material has an extraordinarily high strength-to-weight ratio and a density as low as 1.6g/cc, making it extremely light. A lightweight car has a higher fuel efficiency, and a 10% weight reduction can save up to 6% to 8% of fuel in automobiles.

✦  Carbon Fiber Market Restraint

High Cost of Product to Hinder Market Growth Slightly

Due to their high performance and lightweight features, carbon composites are widely employed in the aerospace, automotive, construction, oil and gas, and wind energy industries. Nonetheless, the product is more expensive than metal. The cost of the product is a key impediment to the widespread use of carbon composites in a variety of industries. The cost of CF is closely tied to the yield and cost of the precursor used to produce it. At the moment, the typical cost of non-aerospace quality PAN-based carbon fibers is roughly USD 21.5 per kg, with a conversion efficiency of only 50%.

Prominent Key players of the Carbon Fiber Market survey report:

Historical data available in the report elaborates on the development of the Carbon Fiber on national, regional and international levels. Market Research Report presents a detailed analysis based on the thorough research of the overall market, particularly on questions that border on the market size, growth scenario, potential opportunities, operation landscape, trend analysis, and competitive analysis. Some Key Competitors of the Market are - DowAksa Advanced Composites Holding B.V., Mitsubishi Chemical Holdings Corporation, Nippon Steel & Sumitomo Metal Corporation, OJSC SvetlogorskKhimvolokno, SGL Carbon SE, Teijin Limited (Teijin), Toray Industries Inc., Hexcel Corporation, Solvay SA.

Carbon Fiber Market Recent Developments

In July 2022, Dassault signed a long-term contract with Hexcel to supply carbon fiber prepreg for the Falcon 10X programme. This is the first Dassault business jet programme to use sophisticated carbon fiber composites in the fabrication of its aircraft wings.

In April 2022, to provide carbon fiber prepreg for the Falcon 10X programme, Hexcel and Dassault entered into a long-term agreement. The aero plane wings on this Dassault business jet are being made using high-performance advanced carbon fiber composites for the first time.

Carbon Fiber Market Segmentation:

Carbon Fibre Market by Raw Materials, 2023-2029, (USD Million), (Thousand Units)

» Pan-Based Carbon Fiber

» Pitch-Based

» Rayon-Based Carbon Fiber

Carbon Fibre Market by Type, 2023-2029, (USD Million), (Thousand Units)

» Virgin Fiber

» Recycled Fiber

Carbon Fibre Market by Application, 2023-2029, (USD Million), (Thousand Units)

» Composite Materials

» Textiles

» Microelectrodes

» Catalysis

Carbon Fibre Market by End-Use Industry, 2023-2029, (USD Million), (Thousand Units)

» Aerospace And Defense

» Alternative Energy

» Automotive

» Construction And Infrastructure

» Sporting Goods

» Other End-User Industries

The regional outlook by revenue covers the countries namely:

✦ North America (United States, Canada and Mexico)

✦ Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

✦ Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

✦ South America (Brazil, Argentina, Colombia, and Rest of South America)

✦ Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

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Key Features of the Carbon Fiber Market Report: -

⇨  Analyse competitive developments such as expansions, deployments, new product launches, and market acquisitions.

⇨  Examine the market opportunities for stakeholders by identifying higher growth sections.

⇨  To study and analyse the global Carbon Fiber industry status and forecast including key regions.

⇨  An in-depth analysis of key product segments and application spectrum, providing strategic recommendations to incumbents and new entrants to give them a competitive advantage over others.

⇨  It provides a comprehensive analysis of key regions of the industry as well as a SWOT analysis and Porter's Five Forces analysis to provide a deeper understanding of the market.

⇨  It helps you make strategic business decisions and investment plans.

Competitive Landscape

Competition has been growing for the Carbon Fiber industry as the supply and demand has been on an increasing trend sine past decade. This report gives a detailed analysis of the presence of various small, medium and micro enterprises in the industry of numerous scales, their relative sizes, product offerings, and market positions in the pre and post pandemic situations. Additionally, the report provides an overview of the competitor strategy with regards to business and corporate office and functions have been provided. The report also mentions about the operations, technology infrastructure, marketing strategies and financial capabilities. Thus, the report gives a very good understanding of the market to the shareholders and stakeholders from an overall perspective.

Highlight the Following Key Factors:

► Business Description: a particular description of agency operations and enterprise departments.

► Company Strategy: The analyst's precis of the company's commercial enterprise strategy.

► SWOT Analysis: Detailed evaluation of the company's strengths, weaknesses, opportunities, and threats.

► Company History: The development of predominant occasions associated to the company.

► Main merchandise and services: A listing of the company's fundamental products, services, and brands.

► Main Competitors: A listing of the company's fundamental competitors.

► Important places and subsidiaries: The company's major places and subsidiaries' listing and contact information.

► Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.

Table of Contents

Global Carbon Fiber Market Research Report 2023-2029

1 Carbon Fiber Market Overview

1.1 Product Overview and Scope of Carbon Fiber

1.2 Carbon Fiber Segment by Type (Product Category)

1.3 Global Carbon Fiber market Segment by Application

1.4 Global Carbon Fiber Market by Region (2023-2029)

1.4.1 Global Carbon Fiber Market Size (Value) and CAGR (%) Comparison by Region (2023-2029)

1.4.2 North America Status and Prospect (2023-2029

1.4.3 Europe Status and Prospect (2023-2029)

1.4.4 China Status and Prospect (2023-2029)

1.4.5 Japan Status and Prospect (2023-2029)

1.4.6 Southeast Asia Status and Prospect (2023-2029)

1.4.7 India Status and Prospect (2023-2029)

1.5 Global Market Size (Value) of Carbon Fiber (2023-2029)

1.5.1 Global Carbon Fiber Revenue Status and Outlook (2023-2029)

1.5.2 Global Carbon Fiber Capacity, Production Status and Outlook (2023-2029)

…

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Thank you for your interest in the Carbon Fiber Market research publications; you can also get individual chapters or regional/country report versions such as Germany, France, China, Latin America, GCC, North America, Europe or Asia.

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