Lucintel Forecasts Carbon Fiber Market to Reach $4 billion by 2031

According to the recent study the carbon fiber market is projected to reach an estimated $4 billion by 2031 with a CAGR of 5% from 2024 to 2031. Growth in this market is primarily driven by growth, owing to factors such as increasing demand for lightweight and fuel-efficient vehicles, aerospace advancements, wind energy expansion, and growing applications in sports and leisure sectors. Carbon fiber is widely used in industries such as automotive, aerospace, wind energy, sports equipment, construction, and marine, among others. The major drivers for market growth are growing demand for high performance and lightweight composite materials and increasing performance requirements in the end uses.
Browse 119 figures / charts and 113 tables in this 306 -page report to understand trends, opportunities and forecast in carbon fiber market by end use (aerospace, industrial, and sporting goods), precursor type (PAN BASED based and Pitch based based), tow size (small tow (24k)), modulus (standard modulus, intermediate modulus, and high modulus), and region (North America, Europe, and the Rest of the World).
Lucintel forecasts that industrial will remain the largest end use segment and aerospace is expected to witness highest growth over the forecast period.
PAN based carbon fiber will remain the largest segment and pitch based is expected to witness the highest growth over the forecast period.
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APAC is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to demand from the industries of aerospace, automotive, and wind energy.
Toray Industries Inc., Hexcel Corporation, Mitsubishi Chemical Corporation, Syensqo, SGL Carbon, Teijin Limited, Formosa Plastics Corporation, DowAksa, Hyosung, Nippon Graphite Fiber Corporation are the major suppliers in the carbon fiber market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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Lucintel finds that the future of the global glass fiber material market is promising with opportunities in the marine, transportation, pipe and tanks, aerospace, construction, electrical and electronics, consumer goods, and wind energy. The glass fiber material market is expected to reach an estimated $14 billion by 2031 with a CAGR of 4% from 2024 to 2031.

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