The Global Carbon Fiber Market is Expected to Reach $3.2 Billion by 2023
Trends, opportunities and forecast in carbon fiber market to 2023 by end use industry (aerospace, industrial and sporting goods), by precursor type, by tow size, by modulus and region (North America, Europe, and the Rest of the World (including Asia Pacific)
IRVING, Texas, April 26, 2018 (Newswire.com) - According to a new market report published by Lucintel, the future of the carbon fiber market looks attractive with opportunities in the aerospace, industrial, and sporting goods industries. The global carbon fiber market is expected to reach an estimated $3.2 billion by 2023 and is forecast to grow at a CAGR of 5.9% from 2018 to 2023. The major drivers for market growth are growing demand for high performance and lightweight composite materials and increasing performance requirements in the end use industries.
In this market, aerospace, industrial, and sporting goods are the major end use industries. Lucintel forecasts that aerospace will be the largest end use industry by value and the industrial segment will witness the highest growth by volume during the forecast period. Increasing demand for high performance lightweight materials in the automotive industry and growing demand for carbon composites in wind turbine with the increasing length of wind blades are driving market growth over the forecast period.
Browse 151 market data tables and 130 figures spread through 296 pages and in-depth TOC on “Global Carbon Fiber Market" http://www.lucintel.com/global-carbon-fiber-market-2018.aspx
Based on the type of precursor, the carbon fiber market can be segmented into two types: Polyacrylonitrile-based (PAN-based) and pitch-based. PAN-based carbon fiber usage is higher by value and volume because it is lower in cost than pitch-based.
By tow size, large tow (greater than 24k) is expected to remain the largest segment by volume and witness the highest growth over the forecast period because of its price performance-trade off, which leads to higher use in the industrial applications. By modulus, standard modulus is expected to remain the largest segment by volume over the forecast period.
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North America is expected to remain the largest market and witness the highest growth over the forecast period due to demand from the industries of aerospace, automotive, and wind energy.
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of new applications and initiatives to innovate and commercialize the use of alternative precursors to reduce the manufacturing costs of carbon fiber.
Some of the major companies in the global carbon fiber market are Toray Industries Inc., Mitsubishi Rayon Corporation, Teijin Limited, Hexcel Corporation, SGL Group, and Cytec Solvay Group.
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The study includes a forecast for the global carbon as follows:
By End Use Industry [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- Aerospace
- Commercial
- Defense
- Regional Jets
- Helicopter
- General Aviation
- Space
- Industrial
- Transportation/Automotive
- Wind Energy
- Electrical and Electronics (E&E)
- Civil/Construction
- Marine
- Others
- Sporting Goods
- Golf
- Fishing Pole
- Racket
- Skis, Snowboards and Other Winter Games
- Others
By Precursor Type [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- PAN Based Carbon Fiber
- Pitch Based Carbon Fiber
By Tow Size [Volume (M lbs) shipment analysis for 2012 – 2023]:
- Small Tow (≤24k)
- Large Tow(<24k)
By Modulus [Volume (M lbs) shipment analysis for 2012 – 2023]:
- Standard
- Intermediate
- High
By Region [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
· North America
· Europe
· The Rest of the World (including Asia Pacific)
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This 296-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com
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This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high-growth opportunities for the global carbon fiber market by end use industry (aerospace, industrial and sporting goods), by precursor type, by tow size, by modulus and region (North America, Europe, and the Rest of the World (including Asia Pacific))?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?
Source: Lucintel