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Global Carbon Fiber Market – Industry Trends and Forecast to 2030

Chemical and Materials

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Global Carbon Fiber Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Feb 2023
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Carbon Fiber Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 4.51 Billion
Diagram Market Size (Forecast Year) USD 9.27 Billion
Diagram CAGR %

Major Markets Players

  • Evonik Industries AG
  • Teijin Limited
  • SGL Group
  • DSM
  • SABIC

Global Carbon Fiber Market, By Type (Continuous, Long, Short), Fiber Type (Virgin, Recycled), Application (Composite, Textiles, Flexible Heating, Microelectrodes), Tow Size (Small (24k)), Raw Material (Polyacrylonitrile (PAN), Pitch, Rayon, Gas Phase Grown), Modulus (Standard, Intermediate, High), End User (Aerospace and Defense, Sports/Leisure, Wind Turbines, Molding and Compounds, Automotive, Pressure Vessels, Civil Engineering, Marine, Pultrusion Misc., Medical Sector, Sailing/Yacht Building, Others) – Industry Trends and Forecast to 2030.

Global Carbon Fiber Market

Carbon Fiber Market Analysis and Size

In current years, the popularity of the carbon fibers has augmented because of their high performance in yachts, aircrafts, supercars and sporting and leisure goods. Now, companies have also started to evolve 3D printing filament which will be made by carbon fiber for producing unique composites based on applications. For instance. MakerBot launched METHOD in 2020, which prints carbon fiber that is reinforced with nylon for manufacturing applications.

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. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Carbon Fiber Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 - 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015 - 2020)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Type (Continuous, Long, Short), Fiber Type (Virgin, Recycled), Application (Composite, Textiles, Flexible Heating, Microelectrodes), Tow Size (Small (<=24k), Large (>24k)), Raw Material (Polyacrylonitrile (PAN), Pitch, Rayon, Gas Phase Grown), Modulus (Standard, Intermediate, High s), End User (Aerospace and Defense, Sports/Leisure, Wind Turbines, Molding and Compounds, Automotive, Pressure Vessels, Civil Engineering, Marine, Pultrusion Misc., Medical Sector, Sailing/Yacht Building, Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

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)

Market Opportunities

  • Surging deployment of carbon fiber in automotive industry
  • Increasing demand for light weight vehicle

Market Definition

Carbon fibre is a composition of carbon atoms which bonded together to form a long carbon chain. They are around 5 to 10 micrometres in diameter. Thousands of fibres are combined to form a tow, which can be highly used in fabric. Low weight to strength ratio, high chemical resistance, high temperature tolerance, High stiffness, high tensile strength, and low thermal expansion are some of the advantages of carbon fibres.

Carbon Fiber Market Dynamics

Drivers

  • Increasing demand for carbon fiber in 3D printing technologies

Carbon fiber production is anticipated to grow globally because of its usage in the new and increasing 3D printing technologies. The usage of carbon fibers make the 3D printing process much more optimized and streamlined. As a result, 3D printing is gaining traction globally and being used in various industries such as medical industry. Thus, increasing demand for carbon fiber in 3D printing technologies is expected to drive the market growth during the forecast period.

  • Growing usage of carbon fiber in aerospace and defense sector

Aerospace and defense sectors are the major sectors that extensively use carbon fiber and cover the largest market share based on end-user industries. In last few years, there have been several novel products added in aerospace and defense sectors. Carbon fibers are the perfect choice for the many aerospace and defense applications because they offer high strength, endurance, and stability. In the defense sector, the carbon fiber-reinforced plastics (CFRP) is used in ground defense, missile defense and military marine. Therefore, growing usage of carbon fiber in aerospace and defense sector is likely to boost the market growth.

Opportunities

  • Surging deployment of carbon fiber in automotive industry

Carbon fiber is being widely deployed in the automotive sector to manufacture 3D-printed car parts. Carbon fiber is used owing to their mechanical and physical properties, making it an efficient and reliable material for the automotive sector. As a result of excellent properties such as superior temperature tolerance and chemical resistance, high tensile strength, low weight and distinguished thermal expansion, the demand for the carbon fiber increases in automotive industry which will create lucrative opportunities for the market growth.

  • Increasing demand for light weight vehicle

Growing demand for lightweight automobiles is likely to generate immense opportunities for the market growth. According to a report published by U.S. Department of Energy, 10 percent reduction in automobile weight can result in a 6 to 8 percent fuel economy improvement. Carbon fiber based composites are highly feasible and lightweight. For instance, carbon fiber tapes are generally 60 percent lighter than their counterparts. This is projected to increase the demand for lightweight materials such as carbon fiber in upcoming period.

Restraints/ Challenge

  • Fluctuation prices of raw materials

Volatility in the prices of raw materials such as polyacrylonitrile (PAN) poses a major problem to the growth of carbon fiber market during the forecast period. Additionally, manufacturing low-cost carbon fiber is expected to be the biggest and foremost challenge for the market's growth.

This carbon fiber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the carbon fiber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

  • In 2022, Hexcel signed a contract with Dassault to provide carbon fiber prepreg for Falcon 10X program. This is the first Dassault business jet program to integrate advanced carbon fiber composites in production of aircraft wings.
  • In 2022, Archer Aviation Inc. and Hexcel entered a partnership to supply high-performance advanced carbon fiber material. These carbon fiber material would be used for the production of Archer’s aircraft.
  • In 2022, Teijin Limited announced their partnership with Fuji Design Co. Ltd, a Japan-based recycled carbon fibers manufacturer, to establish a business for supplying, producing, and commercializing carbon fiber reinforced plastic products. These products are derived from recycled carbon fibers by using carbon fiber with a low environmental impact process.

Global Carbon Fiber Market Scope

The carbon fiber market is segmented on the basis of type, fiber type, application, tow size, raw material, modulus and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

  • Continuous
  • Long
  • Short

 Fiber Type

  • Virgin
  • Recycled

Application

  • Composite
  • Textiles
  • Flexible Heating
  • Microelectrodes

Tow Size

  • Small (<=24k)
  •  Large (>24k))

 Raw Material

  • Polyacrylonitrile (PAN)
  • Pitch
  • Rayon
  • Gas Phase Grown

Modulus

  • Standard
  • Intermediate
  • High

End User

  • Aerospace and Defense
  • Sports/Leisure
  • Wind Turbines
  • Molding and Compounds
  • Automotive
  • Pressure Vessels
  • Civil Engineering
  • Marine
  • Pultrusion Misc.
  • Medical Sector
  • Sailing/Yacht Building
  • Others

Carbon Fiber Market Regional Analysis/Insights

The carbon fiber market is analyzed and market size insights and trends are provided by country, type, fiber type, application, tow size, raw material, modulus and end user as referenced above.

The countries covered in the carbon fiber market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Europe is expected to dominate the carbon fiber market in terms of revenue growth and market share owing to the pervasiveness of large aircraft manufacturer, high use carbon fibers in electric cars and presence of major market players in this region.

North America is expected to be the fastest developing region during the forecast period of 2023-2030 owing to the growth of numerous end-user industries in countries such as China and India in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Carbon Fiber Market Share Analysis

The carbon fiber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to carbon fiber market.

Some of the major players operating in the carbon fiber market are:

  • 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)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The carbon fiber market size will be worth USD 9.27 billion by 2030.
The growth rate of the carbon fiber market is 9.40% in the forecast period by the year 2030.
Increasing demand for carbon fiber in 3D printing technologies & Growing usage of carbon fiber in aerospace and defense sector are the growth drivers of the carbon fiber market.
Type, fiber type, application, tow size, raw material, modulus and end user are the factors on which the carbon fiber market research is based.
Major companies in the carbon fiber market are 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).
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