Carbon fibres have grown in popularity in recent years due to their superior performance in boats, aircrafts, supercars, and athletic and leisure goods. Companies have also begun to develop 3D printing filament made of carbon fibre for generating customised composites based on applications. As an example. In 2020, MakerBot introduced METHOD, which prints carbon fibre bonded with nylon for manufacturing purposes.
Data Bridge Market Research analyses that the Carbon Fiber Market is expected to reach USD 9.27 billion by 2030, which is USD 4.51 billion in 2022, registering a CAGR of 9.40% during the forecast period of 2023 to 2030.
“Growing use in 3D printing technologies is bolstering the market growth”
The global growth of carbon fiber production is expected due to its increasing utilization in emerging 3D printing technologies. The incorporation of carbon fibers significantly enhances the efficiency and effectiveness of the 3D printing process, leading to its widespread adoption worldwide across diverse industries, including the medical sector. Consequently, the rising demand for carbon fiber in 3D printing technologies is projected to propel market expansion in the foreseeable future.
What restraints the growth of the Global Carbon Fiber Market?
“High costs associated will restrain the market growth"
Carbon fiber is manufactured through an intricate and resource-intensive process, involving the conversion of precursor materials into carbon fibers through high-temperature treatment. The production cost of carbon fibers is significantly higher compared to traditional materials, such as steel or aluminum. Additionally, the raw materials required for carbon fiber production, such as polyacrylonitrile (PAN) or petroleum-based pitch, are not abundant and can be subject to price fluctuations. These factors contribute to the limited availability and high cost of carbon fiber, posing a challenge for its widespread adoption across various industries. Manufacturers and end-users must navigate these cost and availability constraints to ensure sustainable and cost-effective utilization of carbon fiber in their applications.
Segmentation: Global Carbon Fiber Market
The carbon fiber market is segmented on the basis of type, fiber type, application, tow size, raw material, modulus and end user.
- On the basis of type, the market is segmented into continuous, long, and short.
- On the basis of fiber type, the market is segmented into virgin and recycled.
- On the basis of application, the market is segmented into composite, textiles, flexible heating, and microelectrodes.
- On the basis of tow size, the market is segmented into small (<=24k) and large (>24k).
- Based on raw materials, the market is segmented into polyacrylonitrile (PAN), pitch, rayon and gas phase grown.
- Based on modulus, the market is segmented into standard, intermediate, and high.
- Based on end user, the market is segmented into aerospace and defense, sports/leisure, wind turbines, molding and compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., medical sector, sailing/yacht building, and others.
Regional Insights: Europe dominates the global carbon fiber market
Europe is anticipated to have a commanding position in the carbon fiber market, both in terms of revenue growth and market share. This dominance can be attributed to several factors, including the widespread presence of prominent aircraft manufacturers, significant utilization of carbon fibers in electric vehicles, and the concentration of major market players within the region.
- On the other hand, the Asia-Pacific region is projected to exhibit the highest rate of development during the forecast period from 2023 to 2030. This rapid growth can be attributed to the flourishing end-user industries in countries like China and India, which are driving the demand for carbon fiber. These countries are experiencing substantial industrial growth and infrastructure development, leading to increased utilization of carbon fiber in various sectors.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-carbon-fiber-market
The Prominent Key Players Operating in the Global Carbon Fiber Market Include:
- Evonik Industries AG (Germany)
- Teijin Limited (Japan)
- SGL Group (Germany)
- DSM (Netherlands)
- SABIC (Saudi Arabia)
- Solvay (Belgium)
- Hexcel Corporation (U.S.)
- TORAY INDUSTRIES, INC. (Japan)
- 3M (U.S.)
- BASF SE (Germany)
- Covestro AG (Germany)
- Dow (U.S.)
- ZOLTEK (U.S.)
- Celanese Corporation (U.S.)
- Formosa Plastics Corporation (Taiwan)
- Nippon Graphite Fiber Co., Ltd. (Japan)
- HYOSUNG ADVANCED MATERIALS (South Korea)
- Nippon Graphite Fiber Co., Ltd. (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of global carbon fiber market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Carbon Fiber Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
