Carbon Fiber: Global Markets

Carbon Fiber: Global Markets

  • November 2020 •
  • 93 pages •
  • Report ID: 5989285 •
  • Format: PDF
Report Scope:
This report on carbon fiber covers the market size and estimations of carbon fiber, that is, before being used as a composite material in combination with other materials. Therefore, the market scope does not involve carbon fiber-reinforced plastics (CRPF).

The analysis covers recycled carbon fiber as well as virgin carbon fiber.Based on structure, the market is segmented into small tow and large tow segments.

The carbon fiber market is also categorized based on precursor materials and end-use industries.

The market size and estimations are provided in terms of volume (Tons) and revenue (USD Millions) considering 2019 as the base year; a market forecast will be given for the 2020 to 2025 period. The market size by region and country level is also covered.

Report Includes:
- 65 data tables and 15 additional tables
- An overview of global market for carbon fiber
- Estimation of the market size and analyses of market trends, with data from 2019, estimates for 2020, and projections of compound annual growth rates (CAGRs) through 2025
- Market share analysis of the carbon fiber, based on raw material, fiber type, tow size, end use, and region
- Identification of segments with high growth potential and analysis of future applications of each of the segments
- Explanation of the major drivers and regional dynamics of the market and evaluation of market size, market forecast, regulatory and reimbursement scenario, and a relevant patent analysis
- Market share analysis of the key companies of the industry and coverage of events like mergers & acquisitions, joint ventures, collaborations or partnerships, and other key market strategies
- Comprehensive company profiles of the leading players of the industry, including Toray Industries Inc., Formosa M Co. Ltd., Hexcel Corp., Mitsubishi Chemical Carbon Fiber & Composites, Solvay S.A. and Hyosung Advanced Materials

Summary:
The global carbon fiber market was valued at $REDACTED billion in 2019 and is projected to reach $REDACTED billion in 2025. In terms of volume, carbon fiber demand is estimated to reach REDACTED kiloton in 2025, growing at a CAGR of REDACTED% over the forecast period.

Carbon fiber is one of the popular advanced carbon composite materials.Carbon fiber materials are characterized by superior properties such as high stiffness and tensile strength coupled with light weight.

The strength profile of carbon fiber is much like that of steel and its weight is close to that of plastic.The strength-to-weight ratio and stiffness-to-weight ratio of carbon fiber is much higher as compared to steel and plastic.

Therefore, carbon fiber is regarded as among the highest strength materials. Owing to these properties, carbon fiber is an excellent building material and thus is used across different industries.

Traditionally, carbon fiber was mainly used in the aerospace and defense industry as a composite material for different parts and components of aircraft.Components such as tie rods, ballistic shields, compression struts, cooling tubes, shuttle actuator mounts, and turbine fan blades are some of the examples of carbon fiber-based composites used in the aerospace industry.

Usage of carbon fiber reduces structural weight and hence enables greater fuel efficiency.Due to these benefits, carbon fiber is also getting generously adopted in the automotive industry.

Carbon fiber is used in automobiles to reduce weight, increase performance and help to achieve greater fuel efficiency. Demand from the
automotive industry is projected to boost the carbon fiber market in the near future.

Until now, carbon fiber usage has been limited primarily to the aerospace and defense industry due to the high cost of carbon fiber material.However, with technological advancements in manufacturing, the price of regular tow (small tow) carbon fiber is declining.

Also, the suitability of low-grade (large tow) carbon fiber for automotive applications is also driving the demand for large tow carbon fiber, thereby making carbon fiber gradually suitable for mass market applications.Based on tow size, the carbon fiber market has been categorized into small and large tow.

Small tow dominated the market with a REDACTED% market share in 2019. However, demand from new end-use segments such as automotive is driving thedemand for large tow carbon fiber, which is expected to show volume growth of a REDACTED% CAGR during theforecast period of this report.

Nearly all the carbon fiber is produced using PAN (polyacrylonitrile), pitch and rayon precursor materials. PAN is a predominant precursor due to its superior stability and strength along with higher carbon yield; it accounted for nearly REDACTED% of the market in 2019.

Another significant trend observed in the carbon fiber industry is the increasing traction for recycled carbon fiber.According to Zoltek, it is estimated that more than REDACTED% of the carbon fiber produced ends up at waste at some point of its lifecycle.

Therefore, to manage the environmental pollution, recycled plastics companies are taking several initiatives for increasing recycled carbon fiber production.