The global carbon fiber market was valued at USD 3.38 billion in 2019 and is expected to grow at a CAGR of 11.0% during the forecast period. Carbon fiber being a high strength fiber with comparatively lightweight are increasingly used in applications such as sports products, automotive, aerospace, wind turbines blade, pressure vessels and so on. For industrial grades of carbon fiber, manufacturing costs can vary between USD10 to USD25 per kilogram depending on the type and quality of fiber produced.
Carbon fiber with large number of technological advancements and additional features that has increased the demand of these fibers in various emerging market. As a result, companies are adopting new strategies on expand their presence in the market. In January 2020, Hexel signed a merger agreement with Woodward, Inc., an aircraft and industrial parts maker to form an integrated system provider for the aerospace and industrial sectors.
Continuous carbon fiber accounted the largest share in the carbon fiber market in 2019
On the basis of product type, the market is subdivided into continuous, long and short. Of all the product types, the continuous carbon fiber accounted foremost share in the carbon fiber market due to offer high tensile strength as compared to other fiber types. These fibers can be combined with all thermoset and thermoplastic resin systems. These fibers exist in the form of packets also known as tows. The number of fibers in a tow varies, however, it is typically in the thousands or tens of thousands.
Geographically, Asia Pacific is the largest carbon fiber market as in the region the largest producer as well as consumer of the carbon fiber derivatives. In addition, expanding the geriatric population, escalating government emphasis on funding and R&D initiatives, and mounting number of industries leading to surging consumption carbon fiber in APAC region.
Some of the key players operating in the global carbon fiber market are Toray Industries, SGL Group, Mitsubishi Rayon Co., Ltd., Teijin Limited, Hexcel Corporation, Dowaksa, Solvay, Formosa Plastics Corporation, Jiangsu Hengshen Co. Ltd., Hyosung, Kureha, and ELG Carbon Fibre.
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The report provides the market value for the base year 2019 and a yearly forecast till 2025 in terms of volume (Kiloton) and revenue (USD Million). The report segments the global carbon fiber market on the basis of product type, raw material, modulus, fiber type, application, end use, and region.
Global Carbon Fiber Market Coverage
Product Type Insight and Forecast 2015-2025
Raw Material Insight and Forecast 2015-2025
Fiber Type Insight and Forecast 2015-2025
Modulus Insight and Forecast 2015-2025
Application Insight and Forecast 2015-2025
End Use Insight and Forecast 2015-2025
Carbon Fiber Market by Region
Rest of the World (RoW)