Carbon Fiber Market is projected to reach a value of over USD 10 billion by 2027
Carbon Fiber Market: Summary
The Global Carbon Fiber Market is projected to reach a value of over USD 10 billion by 2027 at a CAGR of around 10.8%.
Carbon fiber is a compound of carbon atoms bonded together to form a long chain, and they are also known as graphite fiber. They are extremely stiff, strong and light-weight owing to which it is preferred by designers and engineers for manufacturing. Moreover, it can also be applied to existing composite materials as reinforcement and corrosion-resistant. It also can be used to reinforce the existing structure without standing out like bulky support beams and pillars.
Carbon Fiber Market: Drivers & Challenges
- Rising demand from Aerospace Industries
The rise in the manufacturing of aircraft is one of the key drivers for the carbon fiber market. According to the International Air Transport Association, the global aviation industry generated approximately USD 2.7 trillion in 2018. This is attributed to the increasing passenger fleet on the backdrop of a rise in international tourism as well as business trips. The rise in disposable income of the consumers is a vital factor supporting the demand for aircraft manufacturing. According to the Boeing Market Outlook, there will be a rising requirement for 44,040 new jets and related services by 2018. This will result in increased manufacturing of aircraft and aircraft components, which in turn, will drive the global aerospace valves market.
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- Use of Carbon Fiber in 3D Printing
3D printing technology is a process of printing a 3D object from the digital model by stacking thin materials. This technique is used in various industries as it can build several objects in a shorter time span. Owing properties offered by carbon fiber such as higher strength and rigidity as compared other metallic materials it is being used in 3D printing. The content and orientation of carbon fiber are controllable, which eases the optimization process. 3D printing using carbon fibers also allows for high accuracy in the manufacturing of parts for various end-use industries such as aerospace, automotive, and dental. This technology will transform the carbon fiber manufacturing process and will offer significant opportunities for market players.
Carbon Fiber Market: Key Segments
- Segmentation based on raw material: PAN Based Carbon Fiber, Pitch Based Carbon Fiber, and Rayon Based Carbon Fiber.
- Segmentation based on fiber type: Virgin Carbon Fiber, and Recycled Carbon Fiber.
- Segmentation based on product type: Continuous Carbon Fiber, Long Carbon Fiber, and Short Carbon Fiber.
- Segmentation based on application: Composite and Non-composite.
- Segmentation based on end-use: Aerospace & Defense, Automotive, Wind Turbine, Sport Equipments, Construction, and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.
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Carbon Fiber Market: Report Scope
The report on the Carbon Fiber market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021–2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (kilotons)
Raw Material, Fiber Type, Product Type, Application, End-use and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- TORAY INDUSTRIES, INC. (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- SGL Carbon
- TEIJIN LIMITED
- Mitsubishi Chemical Carbon Fiber and Composites, Inc.
- Hexcel Corporation
- Formosa Korea
- JEC Group
- Taekwang Industrial Co., Ltd
- HYOSUNG ADVANCED MATERIALS
- KUREHA CORPORATION
- Nippon Graphite Fiber Co., Ltd.
- ELG Carbon Fibre Ltd
- Other Key Companies
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Carbon Fiber Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Carbon Fiber Market, by Raw Material
- PAN Based Carbon Fiber
- Pitch Based Carbon Fiber
- Rayon Based Carbon Fiber
Carbon Fiber Market, by Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon Fiber
Carbon Fiber Market, by Product Type
- Continuous Carbon Fiber
- Long Carbon Fiber
- Short Carbon Fiber
Carbon Fiber Market, by Application
Carbon Fiber Market, by End-Use
- Aerospace & Defense
- Wind Turbine
- Sport Equipments
Carbon Fiber Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL CARBON FIBER MARKET BY RAW MATERIAL, Market Size in USD Million (2019–2027) & Volume (Kilotons)
7 GLOBAL CARBON FIBER MARKET BY FIBER TYPE, Market Size in USD Million (2019–2027) & Volume (Kilotons)
8 GLOBAL CARBON FIBER MARKET BY PRODUCT TYPE, Market Size in USD Million (2019–2027) & Volume (Kilotons)
9 GLOBAL CARBON FIBER MARKET BY APPLICATION, Market Size in USD Million (2019–2027) & Volume (Kilotons)
10 Competitive Landscape
11 Company Profiles
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