Carbon Fiber Market

Carbon Fiber Market by Raw Material (PAN, Pitch, Rayon), Fiber Type (Virgin, Recycled), Product Type, Modulus, Application (Composite, Non-composite), End-use Industry (A & D, Automotive, Wind Energy), and Region - Global Forecast to 2029

Report Code: AD 1611 Sep, 2019, by marketsandmarkets.com

[168 Pages Report] The carbon fiber market is projected to grow from USD 4.7 billion in 2019 to USD 13.3 billion by 2029, at a CAGR of 11.0% between 2019 and 2029. The market is growing due to a lot of new developments.   In 2019, Kangde Group (Hong Kong) entered into an agreement with BAIC Motor to build an Industry 4.0 smart factory in Changzhou. This facility is expected to produce 6 million carbon fiber-based parts per year. In 2018, MIS Carbonart launched the world’s first carbon fiber mining truck tray named DURATRAY. This technology enables trucks to optimize payloads and production output while minimizing vehicle weight and maintenance periods. An Australian company, Omni Tanker, launched a carbon fiber-based chemical transport tank container. This technology has been patented by the company under the brand names OmniBIND, OmniFORT, and OmniSHIELD. These developments are expected to give big boost to the growth of the carbon fiber market.

Carbon Fiber Market

The aerospace & defense end-use industry is expected to be the largest consumer of carbon fiber, globally.

The end-use industries in the carbon fiber market include aerospace & defense, automotive, sporting goods, and wind energy. The aerospace & defense industry accounted for a major share of the market, in terms of value and volume. This is due to the increased production of aircraft by Boeing and Airbus. For instance, Boeing and Airbus have a projected demand for nearly 9,000 new wide-bodied aircraft over the next 20 years. The use of carbon fiber in narrow-body aircraft is also witnessing growth. According to The Teal Group, aircraft production is set to grow at 5.8% annually, from an estimated market size of USD 164 billion in 2017 to USD 218 billion by 2022.

The PAN-based carbon fiber segment is expected to account for a major share of the carbon fiber market, in terms of value and volume, during the forecast period.

The PAN-based carbon fiber segment dominated the global carbon fiber market as it is widely used in the aerospace & defense, automotive, sporting goods, wind energy, and other industries. This fiber has a higher strength modulus in comparison to other types of carbon fibers. PAN-based carbon fiber is used more due to its cost-effectiveness and better quality of fiber produced. This carbon fiber precursor possesses high tensile strength and elastic modulus. It gives more than 85% yield of carbon fiber.

Carbon Fiber Market

Europe is expected to lead the carbon fiber market during the forecast period.

Europe is a key carbon fiber market.  The aerospace & defense industry in the region is at the forefront of innovation with the successful launch of Airbus A320 family and Eurofighter. The low interest rate for corporate income tax and growth in the aerospace & defense industry in the region have helped carbon fiber manufacturers to penetrate this industry in the region. For instance, Hexcel recently launched its new carbon fiber plant in France to cater to the aerospace industry programs such as Airbus (A350 XWB) and Safran (CFM International LEAP engine). The European Union Automotive Fuel Economy (UNEP) standard has made stringent regulations for automotive OEMs to decrease carbon emissions by using lightweight materials. The EU has also agreed on a 37.5% CO2 reduction for cars by 2030.  This has led to extensive use of carbon fiber in electric cars in the region.  There are a large number of offshore wind energy installations, especially in the UK and Germany.

Key Market Players

The carbon fiber market comprises major solution providers, such as Teijin Limited (Japan), Formosa Plastics Corporation (Taiwan), Solvay (Belgium), Toray Industries Inc. (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Rayon Co. Ltd. (Japan), Jiangsu Hengshen Co. Ltd. (China), Hyosung (South Korea), and DowAksa (Turkey). The study includes an in-depth competitive analysis of these key players in the carbon fiber market, with their company profiles, recent developments, and key market strategies. 

SGL Group (Germany) is one of the prime manufacturers of carbon fiber in the European region. It has a production capacity of 15,000 tons per annum. The company has plans to increase its production capacity to 40,000 tons per annum by 2024. It has the most extensive product portfolio. It specializes in developing, manufacturing, and supplying carbon fiber products to industries worldwide. The company provides three main products, SIGRAFIL Continuous Carbon Fiber Tows, SIGRAFIL Short Carbon Fibers, and RECAFIL recycled carbon fiber. It caters to a wide range of end-use industries such as automotive, medical, sports, marine, defense, civil engineering, and electrical & electronics It is involved in implementing business strategies such as new product launch, expansion, joint venture, and agreement to increase its market share around the globe. For instance, in February 2018, SGL Group launched new "Advanced Modulus" 50k carbon fiber, SIGRAFIL C T50-4.8 / 280, especially for aviation applications. This helped the company offer attractive material solutions for various component classes to the customers in the aerospace industry.

Scope of the Report

Report Metric

Details

Years considered for the study

2019–2029

Base year

2018

Forecast period

2019–2024 and 2019-2029

Units considered

Value (USD Million), Volume (Kiloton)

Segments

Raw material, product type, fiber type, modulus, application, end-use industry, and region

Regions

Europe, North America,  APAC, MEA, and Latin America

Companies

Toray Industries Inc. (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Formosa Plastics Corporation (Taiwan), Solvay (Belgium), Jiangsu Hengshen Co. Ltd. (China), Hyosung (South Korea), DowAksa (Turkey)

This research report categorizes the carbon fiber market based on raw material, product type, fiber type, modulus, application, end-use industry, and region.

On the basis of raw material, the carbon fiber market has been segmented as follows:

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

On the basis of product type, the carbon fiber market has been segmented as follows:

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

On the basis of fiber type, the carbon fiber market has been segmented as follows:

  • Virgin carbon fiber
  • Recycled carbon fiber

On the basis of modulus, the carbon fiber market has been segmented as follows:

  • Standard modulus
  • Intermediate modulus
  • High modulus

On the basis of application, the carbon fiber market has been segmented as follows:

  • Composite
  • Non-composite

On the basis of end-use Industry, the carbon fiber market has been segmented as follows:

  • Aerospace & defense
  • Automotive
  • Wind Energy
  • Sporting goods
  • Electrical & electronics
  • Civil engineering
  • Pipe & tank
  • Marine
  • Others (medical, oil & gas, 3D printing, high speed & metro train, hydrogen gas storage, and electrode for batteries)

On the basis of region, the carbon fiber market has been segmented as follows:

  • Europe
  • North America
  • APAC
  • MEA
  • Latin America

Recent Developments

  • In January 2019, Teijin entered into an agreement with Bombardier Aerostructures and Engineering Services for the supply of its TENAX carbon fiber material. This helped the company in its medium-term growth in the aircraft business.
  • In October 2018, Hexcel Corporation opened its new advanced composites plant at the Les Roches-Roussillon Chemicals Industry Platform in France. This plant will help in responding to the needs of aerospace customers for carbon composite materials.
  • In November 2017, Toray Industries Inc. developed a new higher tensile strength and tensile modulus carbon fiber named TORAYCA MX series. This carbon fiber is mainly for aerospace, industrial, and sports applications.

Key Questions Addressed By The Report

  • Which are the major end-use industries of carbon fiber?
  • Which industry is the major consumer of carbon fiber?
  • Which region is the largest and fastest-growing market for carbon fiber?
  • What are the major product types of carbon fiber?
  • What are the major applications of carbon fiber?
  • What are the major modulus types of carbon fiber?
  • What are the major fiber types of carbon fiber?
  • What are the major strategies adopted by the leading market players?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 17)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Carbon Fiber Market: Market Segmentation
           1.3.2 Regions Covered
           1.3.3 Years Considered for the Study
    1.4 Currency
    1.5 Unit Considered
    1.6 Stakeholders
    1.7 Limitations

2 Research Methodology (Page No. - 20)
    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
    2.5 Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Opportunities in the Carbon Fiber Market
    4.2 Carbon Fiber Market, By Raw Material
    4.3 Carbon Fiber Market, By Product Type
    4.4 Carbon Fiber Market Size, By Application
    4.5 Carbon Fiber Market, By Fiber Type and Modulus
    4.6 Carbon Fiber Market, By End-Use Industry and Country
    4.7 Carbon Fiber Market, By Country

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Consolidation of Aircraft Manufacturers and High Demand ForNext–Generation, Single-Aisle Aircrafts
                    5.2.1.2 Adoption of New Technologies & Agreements Among Players in the Automotive Industry
                    5.2.1.3 Increasing Usage of Carbon Fiber in the Wind Energy Industry
                    5.2.1.4 New Product Launches Such as Mining Truck Trays and Corrosive Chemical Tank Containers
           5.2.2 Restraints
                    5.2.2.1 High Cost of Carbon Fiber
           5.2.3 Opportunities
                    5.2.3.1 Development of Low-Cost Manufacturing Process Such as Plasma Oxidation Technology
                    5.2.3.2 Potential Opportunities in New Applications Such as Geo-Polymer and Medical Composites
                    5.2.3.3 Growing Demand From Emerging Markets
                    5.2.3.4 Increasing Use of Carbon Fiber in 3d Printing
           5.2.4 Challenges
                    5.2.4.1 Production of Low-Cost Carbon Fiber
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Suppliers
           5.3.4 Bargaining Power of Buyers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Raw Material Analysis
    5.5 Cost Structure Analysis

6 Macroeconomic Overview and Key Trends (Page No. - 45)
    6.1 Introduction
    6.2 Trends and Forecast of GDP 
    6.3 Trends in Aerospace Industry
    6.4 Trends in Automotive Industry
    6.5 Trends in Wind Energy Industry

7 Carbon Fiber Market, By Raw Material (Page No. - 49)
    7.1 Introduction
    7.2 Pan-Based Carbon Fiber
           7.2.1 The Properties Such as High Tensile Strength and Elastic Modulus are Spurring the Demand for Pan-Based Carbon Fiber
    7.3 Pan-Based Carbon Fiber, By Fiber Size
           7.3.1 Small Tow (<24k)
           7.3.2 Large Tow (>24k)
                    7.3.2.1 Small Tow Carbon Fiber Will Dominate the Market Due to Its Superior Properties
    7.4 Pitch-Based Carbon Fiber
           7.4.1 High Thermal and Electrical Conductivity is Driving the Demand for Pitch-Based Carbon Fiber
    7.5 Rayon-Based Carbon Fiber
           7.5.1 The Demand for Rayon-Based Carbon Fiber is Increasing Due to Its Rising Applications in the Aerospace & Defense Industry

8 Carbon Fiber Market, By Fiber Type (Page No. - 56)
    8.1 Introduction
    8.2 Virgin Carbon Fiber
           8.2.1 The Demand for Virgin Carbon Fiber is Increasing Due to Its Easy Handling During the Manufacturing Process and Excellent Mechanical Properties
    8.3 Recycled Carbon Fiber
           8.3.1 Low Ghg Emissions and Low Cost are Driving the Recycled Carbon Fiber Market

9 Carbon Fiber Market, By Product Type (Page No. - 59)
    9.1 Introduction
    9.2 Continuous Carbon Fiber
           9.2.1 The Demand for Continuous Carbon Fiber is Increasing Due to Its High Tensile Strength Property
    9.3 Long Carbon Fiber
           9.3.1 Long Carbon Fiber Offers an Array of Advantages, Including High Performance at Low as Well as Elevated Temperatures
    9.4 Short Carbon Fiber
           9.4.1 Short Carbon Fiber is Ideal for Both Low and High-Temperature Applications

10 Carbon Fiber Market, By Modulus (Page No. - 65)
     10.1 Introduction
     10.2 Standard Modulus
             10.2.1 New and Redefined Standard Modulus Will Drive the Demand for Carbon Fiber
     10.3 Intermediate Modulus
             10.3.1 Increasing Use of these Carbon Fibers in High Pressure Storage Tanks Will Drive the Market
     10.4 High Modulus
             10.4.1 New Aircraft Manufacturing Projects and Launch of New Aircrafts By Comac and Irkut is Expected to Increase the Demand for Carbon Fiber

11 Carbon Fiber Market, By Application (Page No. - 68)
     11.1 Introduction
     11.2 Composite
             11.2.1 Prepreg
             11.2.2 Molding Compound
             11.2.3 Woven Fabric
     11.3 Non-Composite
             11.3.1 The Market in This Segment is Expected to Grow During the Forecast Period

12 Carbon Fiber Market, By End-Use Industry (Page No. - 72)
     12.1 Introduction
     12.2 Aerospace & Defense
             12.2.1 Commercial Aircraft
             12.2.2 Regional Jets
             12.2.3 General Aviation
             12.2.4 Rotorcraft
             12.2.5 Defense Aircraft
             12.2.6 Others
     12.3 Wind Energy
             12.3.1 Rising Number of Offshore Wind Turbine Installations in Europe and China Will Drive the Market
     12.4 Automotive
             12.4.1 Interior Parts
             12.4.2 Exterior Parts
                        12.4.2.1 Increasing Use of Carbon Fiber in Electric Cars and Joint Ventures to Produce Low Cost Carbon Fibers for Vehicles Will Drive the Market
     12.5 Sporting Goods
             12.5.1 There is High Demand for Carbon Fibers in New Applications Such as Sports Footwear
     12.6 Pipe & Tank
             12.6.1 Rising Demand for Carbon Fiber Based Type Iii and Type Iv Cng Cylinders Will Positively Influence the Market
     12.7 Civil Engineering
             12.7.1 Carbon Fiber Market Will Be Driven By their Increasing Use in Reinforced Concrete
     12.8 Electrical & Electronics
             12.8.1 Carbon Fiber Demand is Driven By Its Superior Mechanical Properties
     12.9 Marine
             12.9.1 Yachts
             12.9.2 Catamarans
             12.9.3 Racing Boats
                        12.9.3.1 Rising Demand for Carbon Fiber From Racing Boats Will Drive the Market
     12.10 Other End-Use Industries
             12.10.1 Medical
             12.10.2 Oil & Gas
             12.10.3 3-D Printing
             12.10.4 High Speed & Metro Train
             12.10.5 Hydrogen Gas Storage
             12.10.6 Electrode for Batteries
             12.10.7 Catalysis

13 Carbon Fiber Market, By Region (Page No. - 89)
     13.1 Introduction
     13.2 Europe
             13.2.1 Germany
                        13.2.1.1 Germany’s Recognition as A Global Aerospace and Automotive Hub is A Major Driving Factor for the Carbon Fiber Market in Europe
             13.2.2 France
                        13.2.2.1 The Base of Major Aircraft Manufacturers in the Country is Helping the Market Growth
             13.2.3 UK
                        13.2.3.1 Growing Wind Energy Installations are Fueling the Market in the UK
             13.2.4 Italy
                        13.2.4.1 Growth of Major End-Use Industries, Including Automotive and Building & Construction is Expected to Support the Market Growth
             13.2.5 Spain
                        13.2.5.1 Carbon Fiber Finds Wide Use in the Spanish Aerospace Industry
     13.3 North America
             13.3.1 US
                        13.3.1.1 Major Developments in the Aerospace and Automotive Industries in the US are Driving the Market
             13.3.2 Canada
                        13.3.2.1 Strong Wind Energy Generation Capacity and Huge Demand From the Aerospace Industry are Propelling the Market
     13.4 APAC
             13.4.1 China
                        13.4.1.1 Expansion By Major Companies and Developments in the Automotive Sector are Expected to Drive the Market
             13.4.2 Japan
                        13.4.2.1 Technology Advancements and Capacity Expansion are the Two Major Factors That are Driving the Market
             13.4.3 South Korea
                        13.4.3.1 Heavy Investment in Automotive and Aircraft Manufacturing is Anticipated to Increase Carbon Fiber Consumption
             13.4.4 Taiwan
                        13.4.4.1 Increasing Demand From Wind Energy and Electrical & Electronics Industries Will Influence the Market Positively
     13.5 Middle East & Africa (MEA)
             13.5.1 UAE
                        13.5.1.1 High Investments in Airport and Rail Infrastructure Projects are Driving the Market
             13.5.2 South Africa
                        13.5.2.1 The Growth of the Electrical & Electronics Industry Due to the Developing Economy is Increasing the Demand for Carbon Fiber
             13.5.3 Saudi Arabia
                        13.5.3.1 Increasing Demand From Pipe & Tank and Automotive Industries is Driving the Market
     13.6 Latin America
             13.6.1 Brazil
                        13.6.1.1 Consolidation of Embraer With Boeing Will Increase the Consumption of Carbon Fiber in Next-Generation Aircraft Manufacturing
             13.6.2 Mexico
                        13.6.2.1 Increasing Demand From Automotive and Aerospace & Defense Industries is Expected to Drive the Market

14 Competitive Landscape (Page No. - 113)
     14.1 Overview
     14.2 Competitive Scenario
             14.2.1 Agreements, Contracts, Partnerships, Collaboration & Joint Ventures
             14.2.2 Expansions
             14.2.3 New Product Launches/Developments
             14.2.4 Mergers & Acquisitions
     14.3 Competitive Leadership Mapping
             14.3.1 Dynamic Differentiators
             14.3.2 Innovators
             14.3.3 Visionary Leaders
             14.3.4 Emerging Companies
             14.3.5 Strength of Product Portfolio
             14.3.6 Business Strategy Excellence
     14.4 Market Share
             14.4.1 Toray Industries
             14.4.2 SGL Group
             14.4.3 Mitsubishi Rayon

15 Company Profiles (Page No. - 131)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)* 
     15.1 Toray Industries Inc.
     15.2 Teijin Limited
     15.3 SGL Group
     15.4 Mitsubishi Rayon Co., Ltd.
     15.5 Hexcel Corporation
     15.6 Formosa Plastics Corporation
     15.7 Solvay
     15.8 Jiangsu Hengshen Co. Ltd.
     15.9 Dowaksa
     15.10 Hyosung
     15.11 Other Key Players
             15.11.1 Zhongfu Shenying Carbon Fiber Co. Ltd.
             15.11.2 Weihai Guangwei Composites Co. Ltd.
             15.11.3 Umatex (Alabuga Fiber)
             15.11.4 Taekwang Industries Co. Ltd.
             15.11.5 Jilin Qifeng Chemical Fiber Co., Ltd.
             15.11.6 ELG Carbon Fibre
             15.11.7 Dalian Xingke Carbon Fibre Co. Ltd.
             15.11.8 Nippon Graphite Fiber Corporation
             15.11.9 Kureha
             15.11.10 Zhong an Xin Technology Co., Ltd.
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.

16 Appendix (Page No. - 162)
     16.1 Discussion Guide
     16.2 Knowledge Store: Marketsandmarkets Subscription Portal
     16.3 Available Customizations
     16.4 Related Reports
     16.5 Author Details


List of Tables (88 Tables)

Table 1 Carbon Fiber Market Size, 2017–2029
Table 2 Carbon Fiber – General Cost Parameters
Table 3 Trends and Forecast of GDP, 2017–2024 (USD Billion)
Table 4 Number of New Airplane Deliveries, By Region, 2017
Table 5 Automotive Production, Million Units (2017–2018)
Table 6 Wind Energy Installation, By Country, 2016–2017 (Mw)
Table 7 Carbon Fiber Market Size, By Raw Material, 2017–2029 (USD Million)
Table 8 Carbon Fiber Market Size, By Raw Material, 2017–2029 (Kiloton)
Table 9 Pan-Based Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 10 Pan-Based Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 11 Pan-Based Carbon Fiber Market Size, By Fiber Size, 2017–2029 (USD Million)
Table 12 Pan-Based Carbon Fiber Market Size, By Fiber Size, 2017–2029 (Kiloton)
Table 13 Pitch-Based Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 14 Pitch-Based Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 15 Rayon-Based Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 16 Rayon-Based Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 17 Carbon Fiber Market Size, By Fiber Type, 2017–2029 (USD Million)
Table 18 Carbon Fiber Market Size, By Fiber Type, 2017–2029 (Kiloton)
Table 19 Carbon Fiber Market Size, By Product Type, 2017–2029 (USD Million)
Table 20 Carbon Fiber Market Size, By Product Type, 2017–2029 (Kiloton)
Table 21 Continuous Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 22 Continuous Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 23 Long Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 24 Long Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 25 Short Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 26 Short Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 27 Carbon Fiber Market Size, By Modulus, 2017–2029 (USD Million)
Table 28 Carbon Fiber Market Size, By Modulus, 2017–2029 (Kiloton)
Table 29 Carbon Fiber Market Size, By Application, 2017–2029 (USD Million)
Table 30 Carbon Fiber Market Size, By Application, 2017-2029 (Kiloton)
Table 31 Carbon Fiber Composite Market Size, By Application, 2017–2029 (USD Million)
Table 32 Carbon Fiber Composite Market Size, By Application, 2017–2029 (Kiloton)
Table 33 Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (USD Million)
Table 34 Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (Kiloton)
Table 35 Carbon Fiber Market Size in Aerospace & Defense, By Region, 2017–2029 (USD Million)
Table 36 Carbon Fiber Market Size in Aerospace & Defense, By Region, 2017–2029 (Kiloton)
Table 37 Carbon Fiber Market Size in Wind Energy, By Region, 2017–2029 (USD Million)
Table 38 Carbon Fiber Market Size in Wind Energy, By Region, 2017–2029 (Kiloton)
Table 39 Carbon Fiber Market Size in Automotive, By Region, 2017–2029 (USD Million)
Table 40 Carbon Fiber Market Size in Automotive, By Region, 2017–2029 (Kiloton)
Table 41 Carbon Fiber Market Size in Sporting Goods, By Region, 2017–2029 (USD Million)
Table 42 Carbon Fiber Market Size in Sporting Goods, By Region, 2017–2029 (Kiloton)
Table 43 Carbon Fiber Market Size in Pipe & Tank, By Region, 2017–2029 (USD Million)
Table 44 Carbon Fiber Market Size in Pipe & Tank, By Region, 2017–2029 (Kiloton)
Table 45 Carbon Fiber Market Size in Civil Engineering, By Region, 2017–2029 (USD Million)
Table 46 Carbon Fiber Market Size in Civil Engineering, By Region, 2017–2029 (Kiloton)
Table 47 Carbon Fiber Market Size in Electrical & Electronics, By Region, 2017–2029 (USD Million)
Table 48 Carbon Fiber Market Size in Electrical & Electronics, By Region, 2017–2029 (Kiloton)
Table 49 Carbon Fiber Market Size in Marine, By Region, 2017–2029 (USD Million)
Table 50 Carbon Fiber Market Size in Marine, By Region, 2017–2029 (Kiloton)
Table 51 Carbon Fiber Market Size in Other End-Use Industries, By Region, 2017–2029 (USD Million)
Table 52 Carbon Fiber Market Size in Other End-Use Industries, By Region, 2017–2029 (Kiloton)
Table 53 Carbon Fiber Market Size, By Region, 2017–2029 (Kiloton)
Table 54 Carbon Fiber Market Size, By Region, 2017–2029 (USD Million)
Table 55 Europe: Carbon Fiber Market Size, By Country, 2017–2029 (USD Million)
Table 56 Europe: Carbon Fiber Market Size, By Country, 2017–2029 (Kiloton)
Table 57 Europe: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (USD Million)
Table 58 Europe: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (Kiloton)
Table 59 Europe: Carbon Fiber Market Size, By Product Type, 2017–2029 (USD Million)
Table 60 Europe: Carbon Fiber Market Size, By Product Type, 2017–2029 (Kiloton)
Table 61 North America: Carbon Fiber Market Size, By Country, 2017–2029 (Kiloton)
Table 62 North America: Carbon Fiber Market Size, By Country, 2017–2029 (USD Million)
Table 63 North America: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (USD Million)
Table 64 North America: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (Kiloton)
Table 65 North America: Carbon Fiber Market Size, By Product Type, 2017–2029 (USD Million)
Table 66 North America: Carbon Fiber Market Size, By Product Type, 2017–2029 (Kiloton)
Table 67 APAC: Carbon Fiber Market Size, By Country, 2017–2029 (USD Million)
Table 68 APAC: Carbon Fiber Market Size, By Country, 2017–2029 (Kiloton)
Table 69 APAC: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (USD Million)
Table 70 APAC: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (Kiloton)
Table 71 APAC: Carbon Fiber Market Size, By Product Type, 2017–2029 (USD Million)
Table 72 APAC: Carbon Fiber Market Size, By Product Type, 2017–2029 (Kiloton)
Table 73 MEA: Carbon Fiber Market Size, By Country, 2017–2029 (USD Million)
Table 74 MEA: Carbon Fiber Market Size, By Country, 2017–2029 (Kiloton)
Table 75 MEA Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (USD Million)
Table 76 MEA: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (Kiloton)
Table 77 MEA: Carbon Fiber Market Size, By Product Type, 2017–2029 (USD Million)
Table 78 MEA: Carbon Fiber Market Size, By Product Type, 2017–2029 (Kiloton)
Table 79 Latin America: Carbon Fiber Market Size, By Country, 2017–2029 (USD Million)
Table 80 Latin America: Carbon Fiber Market Size, By Country, 2017–2029 (Kiloton)
Table 81 Latin America: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (USD Million)
Table 82 Latin America: Carbon Fiber Market Size, By End-Use Industry, 2017–2029 (Kiloton)
Table 83 Latin America: Carbon Fiber Market Size, By Product Type, 2017–2029 (USD Million)
Table 84 Latin America: Carbon Fiber Market Size, By Product Type, 2017–2029 (Kiloton)
Table 85 Agreements, Contracts, Partnerships, Collaboration & Joint Ventures, 2014–2019
Table 86 Expansions, 2014–2019
Table 87 New Product Launches, 2014–2019
Table 88 Mergers & Acquisitions, 2014–2019


List of Figures (55 Figures)

Figure 1 Carbon Fiber Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Carbon Fiber Market: Data Triangulation
Figure 5 Pan Carbon Fiber Segment Dominated Overall Market in 2018
Figure 6 Continuous Carbon Fiber Segment Dominated Overall Market in 2018
Figure 7 Composite Application Dominated Overall Market in 2018
Figure 8 High Modulus Carbon Fiber Dominated Overall Market in 2018
Figure 9 Aerospace & Defense Dominates Overall Carbon Fiber Market
Figure 10 Virgin Carbon Fiber to Be the Faster-Growing Segment InOverall Carbon Fiber Market
Figure 11 US to Be the Largest Market for Carbon Fiber, in Terms of Value
Figure 12 Europe to Be the Largest and Fastest-Growing Carbon Fiber Market
Figure 13 High Demand From Aerospace & Defense and Automotive Industries to Drive the Market
Figure 14 Pan-Based Carbon Fiber to Dominate Overall Carbon Fiber Market
Figure 15 Continuous Carbon Fiber to Be Fastest-Growing Segment in Overall Market
Figure 16 Composites Segment to Be Dominant Application of Carbon Fiber
Figure 17 Standard Modulus Segment to Dominate Overall Carbon Fiber Market
Figure 18 Europe to Dominate Carbon Fiber Market
Figure 19 Germany to Register Highest CAGR in Carbon Fiber Market
Figure 20 Drivers, Restraints, Opportunities, and Challenges in the Carbon Fiber Market
Figure 21 Porter’s Five Forces Analysis
Figure 22 Raw Material Analysis
Figure 23 Trends and Forecast of GDP, 2019–2024 (USD Billion)
Figure 24 New Airplane Deliveries, By Region, 2017
Figure 25 Automotive Production in Key Countries, Million Units (2017 vs. 2018)
Figure 26 Pan-Based Carbon Fiber to Grow at A High Rate During the Forecast Period
Figure 27 Pan-Based Carbon Fiber Market to Register the Highest Growth in North America
Figure 28 Virgin Carbon Fiber to Dominate the Carbon Fiber Market Duringthe Forecast Period
Figure 29 Continuous Carbon Fiber Segment to Dominate the Market
Figure 30 Europe to Be the Largest Market for Continuous Carbon Fiber
Figure 31 High Modulus Carbon Fiber to Dominate the Overall Carbon Fiber Market, in Terms of Value, During Forecast Period
Figure 32 Composite to Be the Larger Application of Carbon Fiber
Figure 33 Carbon Fiber Market to Witness Highest Growth in Automotive Industry Between 2019 and 2024
Figure 34 North America to Drive the Carbon Fiber Market in Aerospace & Defense Industry
Figure 35 Europe to Dominate Carbon Fiber Market in Wind Energy Industry
Figure 36 North America to Dominate Carbon Fiber Market in Automotive Industry
Figure 37 Germany to Register the Highest CAGR
Figure 38 Europe: Carbon Fiber Market Snapshot
Figure 39 North America: Carbon Fiber Market Snapshot
Figure 40 APAC: Carbon Fiber Market Snapshot
Figure 41 Agreements, Partnerships, Collaborations, Contracts & Joint Ventures are the Most Preferred Growth Strategies Adopted By Major Players Between 2014 and 2019
Figure 42 Carbon Fiber Market: Competitive Leadership Mapping, 2018
Figure 43 Toray Industries Inc.: the Largest Company in the Carbon Fiber Market
Figure 44 Toray Industries Inc.: Company Snapshot
Figure 45 Toray Industries, Inc.: SWOT Analysis
Figure 46 Teijin Limited: Company Snapshot
Figure 47 Teijin Limited: SWOT Analysis
Figure 48 SGL Group: Company Snapshot
Figure 49 SGL Group: SWOT Analysis
Figure 50 Mitsubishi Rayon Co., Ltd.: Company Snapshot
Figure 51 Mitsubishi Rayon Co. Ltd.: SWOT Analysis
Figure 52 Hexcel Corporation: Company Snapshot
Figure 53 Hexcel Corporation: SWOT Analysis
Figure 54 Solvay: Company Snapshot
Figure 55 Hyosung: Company Snapshot

The study involved four major activities to estimate the current size for carbon fiber market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of market segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva were referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The carbon fiber market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of various industries such as aerospace & defense, wind energy, automotive, sporting goods, electrical & electronics, civil engineering, pipe & tank, marine, and other industries. The supply side is characterized by advancements in technology and diverse applications. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

Carbon Fiber Market

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

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total carbon fiber market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the aerospace & defense, wind energy, automotive, sporting goods, electrical & electronics, civil engineering, pipe & tank, marine, and other industries.

Report Objectives

  • To define, describe, and forecast the market size of carbon fiber market, in terms of value and volume
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze and forecast the market on the basis of raw material, product type, fiber type, modulus, application, and end-use industry
  • To analyze and forecast the market on the basis of five regions, namely, Europe, North America, APAC, the MEA, and Latin America
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
  • To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
  • To strategically profile the key players and comprehensively analyze their market share and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

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 Rest of Europe carbon fiber market
  • Further breakdown of Rest of APAC carbon fiber market
  • Further breakdown of Rest of Latin American carbon fiber market
  • Further breakdown of Rest of MEA carbon fiber market

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
Report Code
AD 1611
Published ON
Sep, 2019
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