Mesophase Pitch-Based Carbon Fiber Market Key Players Analysis - Hexcel Corporation, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation.

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Mesophase Pitch-Based Carbon Fiber Market - (By Type (High Modulus Type, Low Modulus Type), By Application (Aerospace and Defense, Automotive, Wind Energy, Sporting Goods, Construction and Infrastructure, Electrical and Electronics)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Mesophase Pitch-Based Carbon Fiber Market is valued at US$ 622.5 million in 2023, and it is expected to reach US$ 991.7 million by 2031, with a CAGR of 6.2% during the forecast period of 2024-2031.

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Mesophase pitch-based carbon fibre is a type of high-performance carbon fibre made from mesophase pitch, a liquid-solid substance that comes from petroleum or coal tar. The market for mesophase pitch-based carbon fibre is driven by the need for strong, lightweight materials in the auto and aerospace industries, as well as by better manufacturing methods and materials that conduct heat well in electronics. Moreover, automotive companies are using mesophase pitch-based carbon fibres more and more to make lighter and more fuel-efficient cars. In addition, the lightweight and strong qualities of mesophase pitch-based carbon fibre make it an ideal material for renewable energy applications. It improves the efficiency and durability of wind turbine blades and other clean technology solutions, contributing to the energy transition toward sustainable power. Additionally, the growing use of mesophase pitch-based carbon fibre in sports equipment is a major market driver because it has a great mix of high strength-to-weight ratio, rigidity, and durability. Metaphase pitch-based carbon fibre is in higher demand because the military needs advanced materials for gear, automobiles, and other uses, which also contributed to the expansion of the market.

List of Prominent Players in the Mesophase Pitch-Based Carbon Fiber Market:
• Hexcel Corporation
• Toray Industries, Inc.
• Teijin Limited
• Mitsubishi Chemical Holdings Corporation
• Nippon Carbon Co., Ltd.
• SGL Carbon
• Solvay S.A.
• Cytec Solvay Group
• Formosa Plastics Corporation
• Hyosung Advanced Materials
• Liaoning Novcarb
• Jining Carbon Group
• Zhongli New Materials

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Market Dynamics:
Drivers-
A number of factors are propelling the mesophase pitch-based carbon fibre market. One of these is the growing need for strong yet lightweight materials in the aerospace and automotive sectors. These fibres provide superior performance and fuel efficiency due to their low weight and high strength-to-weight ratios. They are also perfect for use in electronics and energy storage devices like supercapacitors and batteries due to their high electrical conductivity. Because these fibres are used in wind turbine blades and other clean technology applications, their demand is being driven by the increasing focus on renewable energy and sustainability. These high-performance mesophase pitch-based carbon fibres are now more affordable due to technological developments in manufacturing methods, which have opened them up to a wider range of businesses and growing market demand.

Challenges:
The mesophase pitch-based carbon fibre market faces challenges due to high production expenses and complicated manufacturing procedures, which pose obstacles to the broad use and accessibility of mesophase pitch-based carbon fibre in the market. Raw materials supply stability is also affected by fluctuations in the availability of things like coal tar and petroleum. Additional obstacles to market expansion include technological hurdles to attaining uniform quality and performance requirements. Another major challenge is competition from alternative carbon fibre types, like PAN-based fibres. All of these factors hindered the market's expansion.

Regional Trends:
The Asia Pacific mesophase pitch-based carbon fiber market is anticipated to report a major market share in terms of revenue. It is projected to grow at a high CAGR in the near future because of the substantial presence of the automobile industry, technical advancements in the aerospace and defence industries, and high-strength mesophase pitch-based carbon fibres. Besides, Europe had a notable share in the market because of stringent environmental rules, rising infrastructure investments, the use of high-performance materials in the petroleum and gas industry, and prominent automobile manufacturers.

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Segmentation of Mesophase Pitch-Based Carbon Fiber Market-
By Type-
• High Modulus Type
• Low Modulus Type
By Application-
• Aerospace and Defense
• Automotive
• Wind Energy
• Sporting Goods
• Construction and Infrastructure
• Electrical and Electronics
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.