Press release
Mesophase Pitch-Based Carbon Fiber Market Exclusive Report on Current Trends and Future Insights
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 high-performance material derived from mesophase pitch-a liquid-crystalline substance typically obtained from petroleum or coal tar. This type of carbon fibre is gaining substantial traction across multiple industries due to its exceptional strength, lightweight nature, and superior thermal conductivity.
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
Market Dynamics:
Drivers-
The mesophase pitch-based carbon fibre market is experiencing strong growth, driven by several key factors. A primary driver is the increasing demand for lightweight yet high-strength materials within the aerospace and automotive sectors. These fibres offer superior strength-to-weight ratios, contributing to enhanced performance and improved fuel efficiency. Additionally, their excellent electrical conductivity makes them highly suitable for use in electronics and energy storage systems, including batteries and supercapacitors.
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Challenges:
Despite the promising outlook, the market faces several challenges. High production costs and complex manufacturing processes continue to limit large-scale adoption. Furthermore, supply chain volatility-particularly in the availability of essential raw materials such as petroleum and coal tar-can impact production stability.
Regional Trends:
The Asia-Pacific region is expected to dominate the mesophase pitch-based carbon fibre market in terms of revenue and is projected to record a high compound annual growth rate (CAGR) in the coming years. This growth is attributed to the strong presence of the automotive industry, ongoing technological advancements in the aerospace and defence sectors, and the increasing demand for high-performance materials. Europe also represents a significant market share, supported by stringent environmental regulations, increased infrastructure investments, and the widespread use of advanced materials in the oil and gas industry, as well as the region's robust automotive manufacturing base.
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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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InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.
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