The report on the Carbon Fiber Market has been launched by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2022-2028. The report also offers insights into different market segments and other factors affecting the market.
Carbon Fiber Market is estimated to grow from USD 4.23 billion in 2021 to USD 7.34 billion in 2028 at a CAGR of 8.09% during 2022-2028. Carbon fibers are crystalline filaments of carbon atoms that are thin and strong. These fibers have a diameter of 5 to 10 micrometres and can be used as a strengthening material, particularly in resins and ceramics. Carbon fibers are mostly made of polyacrylonitrile (PAN), but they can also be made of rayon or petroleum pitch. These fibers offer various advantages, such as high stiffness, excellent strength-to-weight ratio, outstanding tensile strength, exceptional chemical resistance, remarkable temperature tolerance, and a low thermal expansion.
Factors such as increasing demand for high performance and lightweight composite materials and growing necessity for enhanced performance in various end-use industries are some of the key factors likely to drive the growth of the market during the forecast period.
COVID-19 IMPACT on the Market-
The COVID-19 pandemic has influenced almost all industries, little or large, dealing in any sector.
The growth curves of the Carbon Fiber market have witnessed an enormous ebb and flow in the year 2022. The market scenario and the pace of growth have taken a huge turn and have prompted numerous adjustments in the cycles. 2021 is probably going to be superior to 2020 for the Carbon Fiber market players as the greater part of the organizations have continued their activities and the interest is getting re-established for them.
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The Cornerstones in the market-
Listed below are the top key players that dominate the Carbon Fiber market –
- Hexcel Corporation
- Mitsubishi Rayon Corporation Limited
- Cytec Solvay Group
- SGL Carbon Group
- Teijin Limited
- Formosa Plastics Corporation
- Hyosung Corporation
- Nippon Graphite Fiber Corporation
Carbon Fiber Market Segmentation:
The report segments based on demographics, geographics, benefits, volume, etc, have different leading factors and identify the most attractive segments and sub-segments. Market segmentation will not only help marketers to be more efficient in terms of time, money, and other resources but also allows companies to learn about their target audience so that they can tailor campaigns that lead to a roadmap to success.
The Carbon Fiber market is segmented into the following categories-
By End-Use Industry Type
The market is segmented as aerospace, industrial, and sporting goods. The industrial end-use industry segment is estimated to hold the major share of the market during 2022-2028. The growing demand for high-performance lightweight materials in the automotive industry, as well as the increasing demand for carbon composites in wind turbines, can be attributed to the segment's growth. In addition, sporting goods are expected to witness significant growth in the market in the coming years.
By Precursor Type
The market is segmented as PAN-based carbon fiber and pitch-based carbon fiber. PAN-based carbon fiber is likely to be the larger as well as the faster-growing segment of the market during 2022-28. It has a wide range of applications in transportation, wind energy, and aerospace/defense, which is expected to fuel the segment’s growth in the coming years.
Europe is estimated to be the largest as well as the fastest-growing region in the market during 2022-28. Growing product demand from the aerospace, automotive, and wind energy industries is likely to drive the regional market growth over the assessment period.
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- Company Profiling
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- SWOT analysis of key market players (up to 3 players)
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