Carbon Fiber Market worth 8.00 Billion USD by 2026

The report "Carbon Fiber Market by Product Type (Continuous, Long, Short), Raw Material (PAN, Pitch, Rayon), Form ( Composite, Non-Composite), End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods), and Region - Global Forecast to 2026 ", The global carbon fiber market is estimated to be valued at USD 2.87 Billion in 2016, and is projected to reach USD 8.00 Billion by 2026 at a CAGR of 10.8%.

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The increasing demand for carbon fiber based composites that can increase the strength and stiffness of structural parts, is driving the usage of carbon fiber in many end-user industries such as, automotive, aerospace & defense, among others.

Composite form comprises a major share of the carbon fiber market in terms of value

The composite form of carbon fiber is used in various industries such as, aerospace & defense, automotive, wind energy, sporting goods, pipe & tank, civil engineering, marine, and others. Carbon fiber offers high strength, rigidity, high tensile strength, and so on, due to which, it is used in these end-use industries.

Continuous carbon fiber is the largest product type for carbon fiber in terms of volume

Continuous carbon fiber offers higher tensile strength as compared to other types of carbon fiber products. These fibers can be used in layup, weaving, prepregging, filament winding, braiding, and pultrusion processes for manufacturing composite parts for various end-use industries such as, aerospace & defense, automotive, and wind energy. Continuous carbon fiber is also used in the 3D printing industry as it offers stiffness and strength.

North America accounts for a major market share in the carbon fiber market

The growth of the carbon fiber market in the North American region is driven by the growing aerospace & defense, wind energy, and automotive industries due to the presence of established players and stringent environmental regulations stressing upon the use of carbon based composites. Some of the leading players such as, Hexcel Corporation (U.S.) and Cytec Industries (U.S.) have accelerated their R&D efforts to provide good quality carbon fiber. Moreover, the Asia-Pacific region is witnessing rapid economic development and industrialization, which is also giving an impetus to the carbon fiber market in the region.

Some of the key global players in the carbon fiber market are, Hexcel Corporation (U.S.), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Hyosung (South Korea), and others. These players have adopted various organic and inorganic developmental strategies during the past five years.

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