Dublin–(business wire)–“Global Carbon Fiber Market Size, Segment, Outlook and Revenue Forecast 2022-2028, By Raw Material, By Type, By Traction Size, By End-User Region” report added of ResearchAndMarkets.com Recruitment.
The global carbon fiber market was valued at around US$3 billion in 2017. It is estimated to reach around US$4 billion by 2022 and is expected to reach a market size of around US$7 billion by 2028, growing at a CAGR of around 10. % over the forecast period (2022-2028), driven by increased demand from the aerospace and automotive industries.
Wind turbines are being built or planned with larger rotor diameters (energy cost) due to increased power demand and increased cost efficiency.
Due to their high strength, stiffness and low density, carbon fiber-based composites play an important role in wind turbines. They can be utilized to create rotor blade structures that are smooth, aerodynamically effective, and stiff enough to withstand high stresses. Carbon fiber wind turbine blades are 25% lighter than traditional fiberglass blades.
Manufacturers focus on making cheap carbon fiber, but mass production and commercialization will take time. In order to compete with PAN fiber, the price of carbon fiber must be lowered through mass production. Carbon fiber applications are currently limited due to its high price.
COVID-19 has resulted in reduced production in multiple industries, including the automotive, construction and aerospace sectors. The COVID-19 epidemic has had a significant negative impact on the global auto parts industry. Most of the world’s automobile manufacturing and sales suddenly stopped. Additionally, COVID-19 has had a significant negative impact on the aerospace and defense sector, which is a key end-user of the carbon fiber market in 2020.
competitive environment
The global carbon fiber market is highly competitive with around 250 players including globally diverse players, regional players, and niche players in countries with carbon fiber market niches.
Niche players by country account for about 45% of all competitors, while regional players are the second largest by type. Major players in the market include Toray Industries, Sgl Carbon, Teijin Limited, Mitsubishi Chemical Carbon Fiber and Composites, Hexcel Corporation, Solvay, Hyosung Advanced Materials, Formosa Plastics Corporation, BASF SE, and DowAksa. And above all.
Conclusion
The global carbon fiber market is projected to continue the growth seen in 2017 and beyond, likely driven by increased demand from the aerospace and automotive industries. During the forecast period, increasing demand for automobiles is expected to increase the need for lightweight vehicles.
Demand for fuel efficient vehicles and government regulations on vehicle emissions are expected to be key factors during the forecast period. The market is highly competitive with around 250 players, but few global players dominate the dominant market share, while regional players also hold large market shares.
Main topics covered in the report
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A snapshot of the global carbon fiber market
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Industry value chain and ecosystem analysis
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Market size and segmentation of the global carbon fiber market
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Overall Global Carbon Fiber Market and Segment Historic Growth
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Market Competitive Scenario and Major Developments of Competitors
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Porter’s Five Forces Analysis of the Global Carbon Fiber Industry
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Overview of major competitors, type offerings, and strengths and weaknesses
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Impact of COVID-19 on overall global carbon fiber market
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Global carbon fiber market overall and future market forecast and growth rate by segment
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Market size of tow size segment using historical CAGR and future forecast
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Global carbon fiber analysis in key regions
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Major types/supply and consumption/demand hubs within each region
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Historical and future market growth rates by major countries for the overall market and segments
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Overview of hot emerging competitors in each major region
Key players mentioned in the report
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Toray Industries, Inc.
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SGL carbon
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Teijin Limited
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Mitsubishi Chemical Carbon Fiber Composites Co., Ltd.
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Hexel Co., Ltd.
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Solvay
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Hyosung Advanced Materials
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Formosa Plastics Corporation
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BASF SE
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Dow AXA
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Nippon Graphite Fiber Co., Ltd.
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Soltec Co., Ltd.
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Generation 2 Carbon Limited
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Carbon Fiber Tube Co., Ltd.
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Sigmatex
Reporting scope
By raw material
By type
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Virgin carbon fiber
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recycled carbon fiber
By towing size
By end user
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aerospace and defense
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car
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wind turbine
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sporting goods
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construction
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others
For more information on this report, please visit https://www.researchandmarkets.com/r/8wk6xi.
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