HOME Top Market Reports Carbon Fiber Market by Product Type (Continuous, Long, Short), Raw Material (PAN, Pitch, Rayon), Form ( Composite, Non-Composite), End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods), and Region - Global Forecast to 2026

Carbon Fiber Market by Product Type (Continuous, Long, Short), Raw Material (PAN, Pitch, Rayon), Form ( Composite, Non-Composite), End User Industry (Aerospace & Defense, Automotive, Wind Energy, Sporting Goods), and Region - Global Forecast to 2026

By: marketsandmarkets.com
Publishing Date: December 2016
Report Code: AD 1611

 

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The global carbon fiber market is estimated to be valued at USD 2.87 Billion in 2016, and is projected to reach USD 8.00 Billion by 2026 at a CAGR of 10.8%.  The use of carbon fiber based composites is becoming crucial in various end-user industries as it offers properties such as, high temperature resistance, strength, rigidity, among others.

In this study, the years considered to estimate the market size of carbon fiber are:  

  • Base Year – 2015
  • Estimated Year – 2016
  • Short Term Forecast Period – 2016-2021
  • Long Term Forecast Period – 2016 to 2026

2015 has been considered the base year for company profiles. Whenever information was unavailable for the base year, the prior year has been considered.

Objectives of the Study

  • To define, describe, and forecast the global carbon fiber market, in terms of value, and volume
  • To identify and measure the global carbon fiber market by end-user industry, raw material, product type, form and region
  • To analyze the significant region-specific market trends in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (ME&A), and country-specific trends in the U.S., Germany, France, the U.K., China, and Japan
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze recent market developments such as partnerships, joint ventures, and mergers & acquisitions, in the global carbon fiber market
  • To strategically profile and analyze the key market players and their core competencies

Various secondary sources such as Factiva, Hoovers, Manta, and others have been used to understand and gain insights into the global carbon fiber market. Experts from top carbon fiber companies have been interviewed to verify and collect critical information and to assess the trends in the global carbon fiber market during the forecast period. The top-down, bottom up and data triangulation approaches have been implemented to calculate the exact values of the overall parent and individual market sizes.

Carbon Fiber Market

To know about the assumptions considered for the study, download the pdf brochure

The market for carbon fiber has a diversified ecosystem, including downstream stakeholders such as manufacturers, vendors, end-users, and government organizations. Some of the major carbon fiber suppliers are, Hexcel Corporation (U.S.), Mitsubishi Rayon Co. Ltd.  (Japan), Teijin Limited (Japan), Hyosung (South Korea), SGL Group (Germany), and others. This study focuses on the different types of carbon fiber that are used by end-users, such as, automotive industry, aerospace & defense, and the wind energy industry. Some of the major automotive end-users of carbon fiber are, BMW (Germany), Fiat (Italy), Bentley (U.K.), and Chrysler (U.S.), among others

Target Audience

  • Carbon fiber manufacturers
  • Raw material suppliers
  • Distributors & suppliers
  • Industry associations

“The study answers several questions for the stakeholders, primarily which market segments they should focus upon during the next two to five years to prioritize their efforts and investments”.

Scope of the Report:

This research report categorizes the global market of carbon fiber based on the end-use industry, application, material, and region. It forecasts revenue growth and gives an analysis of the trends in each of the submarkets till 2026.

On the basis of End-User Industry,

  • Automotive
  • Aerospace & Defense
  • Sporting Goods
  • Wind Energy
  • Civil Engineering
  • Pipe & Tank
  • Marine
  • Electrical & Electronics
  • Others

On the basis of Raw Material,

  • PAN-based carbon fiber
  • Pitch – based carbon fiber
  • Rayon – based carbon fiber

On the basis of Product Type,

  • Continuous carbon fiber
  • Long carbon fiber
  • Short carbon fiber

On the basis of Form,

  • Composite
  • Long carbon fiber
  • Short carbon fiber

On the basis of Region,

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the specific needs of the companies. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the North American carbon fiber market
  • Further breakdown of the European carbon fiber market
  • Further breakdown of the Asia-Pacific region carbon fiber market
  • Further breakdown of the Latin American carbon fiber market
  • Further breakdown of the Middle Eastern & African carbon fiber market

Company Information

  • Detailed analysis and profiles of additional market players

Table of Contents

1 Introduction (Page No. - 14)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Scope of the Study
           1.3.1 Years Considered in the Report
    1.4 Currency
    1.5 Package Size
    1.6 Stakeholders
    1.7 Limitations

2 Research Methodology (Page No. - 17)
    2.1 Research Data
           2.1.1 Secondary Data
                     2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                     2.1.2.1 Key Data From Primary Sources
                     2.1.2.2 Key Industry Insights
                     2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 24)

4 Premium Insights (Page No. - 28)
    4.1 Attractive Growth Opportunities in the Carbon Fiber Market
    4.2 Carbon Fiber Market, By End Use Industry
    4.3 Carbon Fiber Market, By Region and Application Industry
    4.4 Carbon Fiber Market, By Country
    4.5 Carbon Fiber Market, By Form

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Product Type
           5.2.2 By End Use Industry
           5.2.3 By Raw Material
           5.2.4 By Form
    5.3 Market Dynamics
           5.3.1 Impact Analysis of Drivers
           5.3.2 Drivers
                     5.3.2.1 Increasing Use of Carbon Fiber for Manufacturing of Structural Composite Parts Used in Aircraft
                     5.3.2.2 Increasing Demand for Fuel Efficient Vehicles
                     5.3.2.3 Increasing Usage of Carbon Fiber in Wind Energy Industry
                     5.3.2.4 New Product Launches in the Carbon Fiber Market
           5.3.3 Restraints
                     5.3.3.1 High Cost of Carbon Fiber
                     5.3.3.2 Insufficient Production Capacity
           5.3.4 Opportunities
                     5.3.4.1 Potential Opportunities in New Applications
                     5.3.4.2 Growing Demand From Emerging Markets
                     5.3.4.3 Increasing Use of Carbon in 3D Printing
           5.3.5 Challenges
                     5.3.5.1 Production of Low Cost Carbon Fiber for Large Volume Applications
    5.4 Porter’s Five Forces Analysis
           5.4.1 Threat of New Entrants
           5.4.2 Threat of Substitutes
           5.4.3 Bargaining Power of Suppliers
           5.4.4 Bargaining Power of Buyers
           5.4.5 Intensity of Competitive Rivalry
    5.5 Raw Material Analysis
    5.6 Cost Structure Analysis

6 Macro Economic Overview and Key Trends (Page No. - 46)
    6.1 Introduction
    6.2 Trends and Forecast of GDP
    6.3 Per Capita GDP & Per Capita Carbon Fiber Demand
    6.4 Trends in the Automotive Industry
    6.5 Trends in the Aerospace Industry
    6.6 Trends in the Wind Energy Industry

7 Carbon Fiber Market, By Raw Material (Page No. - 54)
    7.1 Introduction
    7.2 Pan-Based Carbon Fiber
           7.2.1 Pan-Based Carbon Fiber, By Fiber Size
                     7.2.1.1 Small-Tow (<24k)
                     7.2.1.2 L A R G E - T Ow (>24k)
    7.3 Pitch-Based Carbon Fiber
    7.4 Rayon-Based Carbon Fiber

8 Carbon Fiber Market, By Product Type (Page No. - 60)
    8.1 Introduction
    8.2 Continuous Carbon Fiber
    8.3 Long Carbon Fiber
    8.4 Short Carbon Fiber

9 Carbon Fiber Market, By Form (Page No. - 66)
    9.1 Introduction
    9.2 Composite
    9.3 Non-Composite

10 Carbon Fiber Market, By End Use Industry (Page No. - 69)
     10.1 Introduction
     10.2 Aerospace & Defense
     10.3 Wind Energy
     10.4 Automotive
     10.5 Sporting Goods
     10.6 Pipes & Tanks
     10.7 Civil Engineering
     10.8 Electrical & Electronics
     10.9 Marine
     10.10 Other End Use Industries
               10.10.1 Medical
               10.10.2 3-D Printing
               10.10.3 Hydrogen Gas Storage
               10.10.4 Electrode for Batteries
               10.10.5 Catalysis

11 Regional Analysis (Page No. - 85)
     11.1 Introduction
     11.2 North America
               11.2.1 Canada
               11.2.2 U.S.
     11.3 Europe
               11.3.1 Germany
               11.3.2 France
               11.3.3 U.K.
               11.3.4 Italy
               11.3.5 Spain
     11.4 Asia-Pacific
               11.4.1 China
               11.4.2 Japan
               11.4.3 South Korea
               11.4.4 Taiwan
     11.5 Latin America
               11.5.1 Brazil
               11.5.2 Mexico
     11.6 Middle East & Africa (ME&A)
               11.6.1 UAE
               11.6.2 South Africa
               11.6.3 Saudi Arabia

12 Competitive Landscape (Page No. - 108)
     12.1 Overview
     12.2 Market Share Analysis of Key Players
               12.2.1 Toray Industries Inc
               12.2.2 Teijin Ltd.
               12.2.3 SGL Group
     12.3 Competitive Situation and Trends
     12.4 Recent Developments
               12.4.1 Expansions
               12.4.2 Agreements, Partnerships & Joint Ventures
               12.4.3 New Product Launches
               12.4.4 Mergers & Acquisitions

13 Company Profiles (Page No. - 118)
(Overview, Financial*, Products & Services, Strategy, and Developments)
     13.1 Toray Industries Inc.
     13.2 Hexcel Corporation
     13.3 Mitsubishi Rayon Co., Ltd.
     13.4 TEIJIN Limited
     13.5 Hyosung
     13.6 SGL Group
     13.7 Cytec Industries Inc.
     13.8 Dowaksa
     13.9 OJSC "Svetlogorskkhimvolokno"
     13.10 Kemrock Industries and Exports Limited
     13.11 Other Key Players
               13.11.1 Taekwang Industries Co Ltd.
               13.11.2 Bluestar Fiber Company Ltd
               13.11.3 Nippon Graphite Fiber Corporation
               13.11.4 Formosa Plastic Corporation
               13.11.5 Carbon Mods

*Details Might Not Be Captured in Case of Unlisted Companies

14 Appendix (Page No. - 144)
     14.1 Insights From Industry Experts
     14.2 Discussion Guide
     14.3 Introducing RT: Real Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports
     14.6 Author Details


List of Tables (81 Tables)

Table 1 Carbon Fiber Market Size (Volume and Value), 2016–2026
Table 2 Carbon Fiber Market, By Product Type
Table 3 Carbon Fiber Market, By End Use Industry
Table 4 Carbon Fiber Market, By Raw Material
Table 5 Carbon Fiber – Cost Structure
Table 6 Trends and Forecast of GDP, USD Billion (2016–2021)
Table 7 Per Capita GDP & Per Capita Carbon Fiber Demand, 2015
Table 8 Automotive Production, Million Units (2011–2015)
Table 9 Number of New Airplane Deliveries, By Region
Table 10 Wind Energy Installation, Mw (2011–2015)
Table 11 Carbon Fiber Market Size, By Raw Material, 2014–2026 (USD Million)
Table 12 Carbon Fiber Market Size, By Raw Material, 2014–2026 (Kiloton)
Table 13 Pan-Based Carbon Fiber Market Size, By Region, 2014–2026 (USD Million)
Table 14 Pan-Based Carbon Fiber Market Size, By Region, 2014–2026 (Kiloton)
Table 15 Pitch-Based Carbon Fiber Market Size, By Region, 2014–2026 (USD Million)
Table 16 Pitch-Based Carbon Fiber Market Size, By Region, 2014–2026 (Kiloton)
Table 17 Carbon Fiber Market Size, By Product Type, 2014–2026 (USD Million)
Table 18 Carbon Fiber Market Size, By Product Type, 2014–2026 (Kiloton)
Table 19 Continuous Carbon Fiber Market Size, By Region, 2014–2026 (USD Million)
Table 20 Continuous Carbon Fiber Market Size, By Region, 2014–2026 (Kiloton)
Table 21 Long Carbon Fiber Market Size, By Region, 2014–2026 (USD Million)
Table 22 Long Carbon Fiber Market Size, By Region, 2014–2026 (Kiloton)
Table 23 Short Carbon Fiber Market Size, By Region, 2014–2026 (Kiloton)
Table 24 Short Carbon Fiber Market Size, By Region, 2014–2026 (Kiloton)
Table 25 Carbon Fiber Market Size, By Form, 2014–2026 (USD Million)
Table 26 Carbon Fiber Market Size, By Product, 2014-2026 (Kiloton)
Table 27 Carbon Fiber Market Size, By End Use Industry, 2014–2026 (USD Million)
Table 28 Carbon Fiber Market Size, By End Use Industry, 2014–2026 (Kiloton)
Table 29 Carbon Fiber Market Size in Aerospace & Defense End Use Industry, By Region, 2014–2026 (USD Million)
Table 30 Carbon Fiber Market Size in Aerospace & Defense End Use Industry, By Region, 2014–2026 (Kiloton)
Table 31 Carbon Fiber Market Size in Wind Energy End Use Industry, By Region, 2014–2026 (USD Million)
Table 32 Carbon Fiber Market Size in Wind Energy End Use Industry, By Region, 2014–2026 (Kiloton)
Table 33 Carbon Fiber Market Size in Automotive End Use Industry, By Region, 2014–2026 (USD Million)
Table 34 Carbon Fiber Market Size in Automotive End Use Industry, By Region, 2014–2026 (Kiloton)
Table 35 Carbon Fiber Market Size in Sporting Goods End Use Industry, By Region, 2014–2026 (USD Million)
Table 36 Carbon Fiber Market Size in Sporting Goods End Use Industry, By Region, 2014–2026 (Kiloton)
Table 37 Carbon Fiber Market Size in Pipe & Tank End Use Industry, By Region, 2014–2026 (USD Million)
Table 38 Carbon Fiber Market Size in Pipe & Tank End Use Industry, By Region, 2014–2026 (Kiloton)
Table 39 Carbon Fiber Market Size in Civil Engineering End Use Industry, By Region, 2014–2026 (USD Million)
Table 40 Carbon Fiber Market Size in Civil Engineering End Use Industry, By Region, 2014–2026 (Kiloton)
Table 41 Carbon Fiber Market Size in Electrical & Electronics End Use Industry, By Region, 2014–2026 (USD Million)
Table 42 Carbon Fiber Market Size in Electrical & Electronics End Use Industry, By Region, 2014–2026 (Kiloton)
Table 43 Carbon Fiber Market Size in Marine End Use Industry, By Region, 2014–2026 (USD Million)
Table 44 Carbon Fiber Market Size in Marine End Use Industry, By Region, 2014–2026 (Kiloton)
Table 45 Carbon Fiber Market Size in Other End Use Industries, By Region, 2014–2026 (USD Million)
Table 46 Carbon Fiber Market Size in Other End Use Industries, By Region, 2014–2026 (Kiloton)
Table 47 Carbon Fiber Market Size, By Region, 2014–2026 (USD Million)
Table 48 North America: Carbon Fiber Market Size, By Country, 2014–2026 (Kiloton)
Table 49 North America: Carbon Fiber Market Size, By Country, 2014–2026 (USD Million)
Table 50 North America: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (USD Million)
Table 51 North America: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (Kiloton)
Table 52 North America: Carbon Fiber Market Size, By Product Type, 2014–2026 (USD Million)
Table 53 North America: Carbon Fiber Market Size, By Product Type, 2014–2026 (Kiloton)
Table 54 Europe: Carbon Fiber Market Size, By Country, 2014–2026 (USD Million)
Table 55 Europe: Carbon Fiber Market Size, By Country, 2014–2026 (Kiloton)
Table 56 Europe: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (USD Million)
Table 57 Europe: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (Kiloton)
Table 58 Europe: Carbon Fiber Market Size, By Product Type, 2014–2026 (USD Million)
Table 59 Europe: Carbon Fiber Market Size, By Product Type, 2014–2026 (Kiloton)
Table 60 Asia-Pacific: Carbon Fiber Market Size, By Country, 2014–2026 (USD Million)
Table 61 Asia-Pacific: Carbon Fiber Market Size, By Country, 2014–2026 (Kiloton)
Table 62 Asia-Pacific: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (USD Million)
Table 63 Asia-Pacific: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (Kiloton)
Table 64 Asia-Pacific: Carbon Fiber Market Size, By Product Type, 2014–2026 (USD Million)
Table 65 Asia-Pacific: Carbon Fiber Market Size, By Product Type, 2014–2026 (Kiloton)
Table 66 Latin America: Carbon Fiber Market Size, By Country, 2014–2026 (USD Million)
Table 67 Latin America: Carbon Fiber Market Size, By Country, 2014–2026 (Kiloton)
Table 68 Latin America: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (USD Million)
Table 69 Latin America: Carbon Fiber Market Size, By End Use Industry, 2014–2026 (Kiloton)
Table 70 Latin America: Carbon Fiber Market Size, By Product Type, 2014–2026 (USD Million)
Table 71 Latin America: Carbon Fiber Market Size, By Product Type, 2014–2026 (Kiloton)
Table 72 ME&A: Carbon Fiber Market Size, By Country, 2014–2026 (USD Million)
Table 73 ME&A: Carbon Fiber Market Size, By Country, 2014–2021 (Kiloton)
Table 74 ME&A Carbon Fiber Market Size, By End Use Industry, 2014–2026 (USD Million)
Table 75 ME&A: Carbon Fiber Market Size, By End- Se Industry, 2014–2026 (Kiloton)
Table 76 ME&A: Carbon Fiber Market Size, By Product Type, 2014–2021 (USD Million)
Table 77 ME&A: Carbon Fiber Market Size, By Product Type, 2014–2026 (Kiloton)
Table 78 Expansions, 2012–2016
Table 79 Agreements, Partnerships & Joint Ventures, 2012–2016
Table 80 New Product Launches, 2012–2016
Table 81 Mergers & Acquisitions, 2012–2016
 
 
List of Figures (54 Figures)
 
Figure 1 Carbon Fiber Market: Market Segmentation
Figure 2 Carbon Fiber Market: Research Methodology
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Data Triangulation Methodology
Figure 6 Aerospace & Defense Industry to Drive the Carbon Fiber Market During Forecast Period
Figure 7 Continuous Carbon Fiber is the Fastest-Growing Carbon Fiber Type
Figure 8 Composites Form Would Account for Largest Share of Carbon Fiber Market Throughout the Forecast Period
Figure 9 North America Led the Carbon Fiber Market, in Terms of Value, 2015
Figure 10 Demand From Aerospace & Defense and Automotive Industries is Expected to Drive Growth in the Carbon Fiber Market
Figure 11 Automotive to Be the Fastest-Growing End-Use Industry in Carbon Fiber Market, 2016–2021
Figure 12 North America is the Largest Carbon Fiber Market
Figure 13 U.S. to Be the Fastest-Growing Market During the Forecast Period
Figure 14 Continuous Fibers to Have the Largest Market Share Throughout the Forecast Period
Figure 15 Drivers, Restraints, Opportunities, and Challenges in the Carbon Fiber Market
Figure 16 Porter’s Five Forces Analysis
Figure 17 Raw Material Analysis
Figure 18 Carbon Fiber – Cost Structure
Figure 19 Trends and Forecast of GDP, USD Billion (2016–2021)
Figure 20 Per Capita GDP & Per Capita Carbon Fiber Demand
Figure 21 Automotive Production in Key Countries, Million Units (2011 & 2015)
Figure 22 New Airplane Deliveries, By Region, 2015–2034
Figure 23 Wind Energy Installed Capacity, Mw (2014–2015)
Figure 24 Pan-Based Carbon Fiber to Grow at A High Rate During the Forecast Period
Figure 25 Pan Based Carbon Fiber Market to Witness Highest Growth in North America
Figure 26 Continuous Carbon Fiber to Lead the Carbon Fiber Market During Forecast Period
Figure 27 North America Expected to Be the Biggest Consumer of Continuous Carbon Fiber During Forecast Period
Figure 28 Carbon Fiber Composite Form to Lead Market During  Forecast Period
Figure 29 Carbon Fiber Market to Witness Highest Growth in Automotive Industry From 2016 to 2021
Figure 30 North America Expected to Drive the Carbon Fiber Market in Aerospace & Defense Industry From 2016 to 2021
Figure 31 North America to Lead Carbon Fiber Market in Automotive End Use Industry in 2016
Figure 32 Asia-Pacific to Lead Carbon Fiber Market in Sporting Goods End Use Industry From 2016 to 2021
Figure 33 North America to Drive the Global Carbon Fiber Market, 2016–2021
Figure 34 North America Carbon Fiber Market Snapshot: U.S. to Lead the Market
Figure 35 Europe Carbon Fiber Market Snapshot: Germany to Lead Carbon Fiber Market in European Region
Figure 36 Asia-Pacific Carbon Fiber Market Snapshot: Japan is the Biggest Market
Figure 37 Latin America Carbon Fiber Market Snapshot: Brazil to Drive the Carbon Fiber Market During the Forecast Period
Figure 38 Carbon Fiber Market Snapshot: UAE to Register Highest CAGR in ME&A, 2016-2021
Figure 39 Companies Adopted Expansions as the Key Growth Strategy Between 2012 and 2016
Figure 40 Toray Industries Inc.: the Largest Company in the Global Carbon Fiber Market
Figure 41 Key Growth Strategies in the Carbon Fiber Market, 2012–2016
Figure 42 Developments in the Carbon Fiber Market, 2012–2016
Figure 43 Toray Industries Inc.: Company Snapshot
Figure 44 Toray Industries, Inc.: SWOT Analysis
Figure 45 Hexcel Corporation: Company Snapshot
Figure 46 Hexcel Corporation: SWOT Analysis
Figure 47 Mitsubishi Rayon Co., Ltd.: Company Snapshot
Figure 48 TEIJIN Limited: Company Snapshot
Figure 49 TEIJIN Limited: SWOT Analysis
Figure 50 Hyosung: Company Snapshot
Figure 51 Hyosung: SWOT Analysis
Figure 52 SGL Group: Company Snapshot
Figure 53 SGL Group: SWOT Analysis
Figure 54 OJSC "Svetlogorskkhimvolokno": Company Snapshot

The global carbon fiber market is projected to reach USD 8.00 Billion by 2026, at a CAGR of 10.8%, from 2016 to 2026. Carbon fiber offers excellent strength, is light weight, has low specific gravity, excellent modulus of elasticity, high corrosion resistance, and high moldability, among others. Thus, the use of carbon fiber based composites is increasing in various end-use industries such as, aerospace & defense, automotive, wind energy, and others. The growing need for light weight & strong alternative materials in the aerospace & automotive industries is one of the major drivers for the carbon fiber market.

The global carbon fiber market is segmented into, end-user industry type, product type, raw material type, form, and region. The aerospace & defense end-use application has been estimated to have the largest market share in terms of value & volume in 2016. This is due to the established and proven applications of carbon fiber based composite parts in aircraft applications. The automobile market is projected to grow at a higher rate due to the acceptance of carbon fiber based composites in sports and luxury cars.

The carbon fiber market, by raw material is segmented into, pan-based, pitch-based, and rayon-based carbon fiber. Pan-based carbon fiber holds the largest market share both, in terms of value & volume, due to its high yield and better processing properties. Carbon fibers are used in composite and non-composite forms in various applications. The composite segment led the global carbon fiber market by form in 2016.

North America is projected to be the largest and the fastest-growing region in the carbon fiber market during the forecast period. This is due to the presence of large aircraft manufacturing & defense companies in the region. The high prices of carbon fiber and insufficient production capacities are restraining market growth.

Carbon Fiber Market

The high price of carbon fiber is acting as a major restraint in its usage in the automotive end-user industry. It is presently used in racing cars and some high-end sports cars. If the cost of carbon fiber lowers, it will be used on a much larger scale in automobiles.

Toray Industries Inc. (Japan), Tejin Limited (Japan), and SGL Group (Germany) are some of the major players in the global carbon fiber market. Major companies adopted the expansions strategy to maintain their leading positions in the global carbon fiber market. Toray Industries Inc. holds the major share in the carbon fiber market globally. Companies are adopting various organic and inorganic growth strategies such as, new product developments and agreements to strengthen their market shares.

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