Carbon Fiber Thread Market Insights into Competitive Landscape and Market Forecast 2023-2032

According to the report, the global carbon fiber thread market was valued at $1.6 billion in 2022 and is projected to reach $2.7 billion by 2032, with a compound annual growth rate (CAGR) of 5.3% from 2023 to 2032.

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Key Growth Factors:

The market growth is attributed to several factors, including the profitable utilization of carbon fiber thread across various industries, increasing demand for lightweight vehicles, and a surge in renewable energy sources. However, the high production cost of carbon fiber thread acts as a hindrance to growth. Nonetheless, the transition towards electric vehicles (EVs) presents a significant opportunity for carbon fiber thread manufacturers, as the demand for such vehicles continues to rise globally.

Report Coverage and Details:

- Forecast Period: 2023-2032
- Base Year: 2022
- Market Size in 2022: $1.6 billion
- Market Size in 2032: $2.7 billion
- CAGR: 5.3%
- No. of Pages in Report: 197
- Segments Covered: Product Type, End-Use Industry, and Region

Market Segmentation:

Continuous carbon fiber thread segment dominated the market in 2022, accounting for nearly three-fifths of the global market revenue and is expected to maintain its leadership position throughout the forecast period. It is also projected to exhibit the fastest CAGR of 5.4% from 2023 to 2032.

The aerospace segment held the highest market share in 2022 and is anticipated to continue leading in terms of revenue by 2032. The automotive segment, however, is expected to showcase the highest CAGR of 5.63% during the forecast period.

Asia-Pacific held the highest market share in 2022 and is likely to maintain its dominance throughout the forecast period, with the region exhibiting the fastest CAGR of 5.5% from 2023 to 2032.

Leading Market Players:

The report highlights key players in the global carbon fiber thread market, including Mitsubishi Chemical Corporation, Beijing Konfitex Technology Co. Ltd., Teijin Limited, Solvay S.A., SGL Carbon, Kureha Corporation, Hexcel Corporation, Formosa Plastics Corporation, Zhongao Carbon, and Toray Industries, Inc. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, and agreements to increase their market share and maintain dominance in different regions.

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