Carbon Fiber Market

Carbon Fiber Market by Raw Material Type (PAN, Pitch), Fiber Type (Virgin, Recycled), Product Type, Modulus (Standard, Intermediate, High), Application (Composites, Non-Composites), End-Use Industry, & Region - Global Forecast to 2033

Report Code: AD 1611 Jan, 2024, by marketsandmarkets.com

The carbon fiber market is estimated at USD 7.1 billion in 2023 and is projected to reach USD 23.2 billion by 2033, at a CAGR of 12.6% from 2023 to 2033. Carbon fibers offer various advantages such as high tensile strength, low weight, high stiffness, high-temperature tolerance, and low thermal expansion. These properties are leading to the high demand for carbon fiber in aerospace, civil engineering, military, and motorsports, along with other competitive sports. However, it is relatively expensive compared with other fibers such as glass or plastic fibers.

Carbon fiber is produced using two main methods, with the use of polyacrylonitrile (PAN) and from pitch. Pitch is produced via the distillation of carbon-based materials such as plants, crude oil, and coal. In terms of cost, carbon fiber is relatively more expensive than plastic fiber and glass fiber. The high cost of carbon fiber is the major factor restraining market growth

Attractive Opportunities in Carbon Fiber Market Trends

Carbon Fiber Market

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Carbon Fiber Market

Carbon Fiber Market Dynamics

Driver: Rising demand of regular tow carbon in pressure vessels leading the growth of carbon fiber based composites

The use of carbon fibers in pressure vessel applications has seen significant growth in 2023. SGL Carbon has expanded its material portfolio with a new 50k carbon fiber, SIGRAFIL C T50-4.9/235, designed for high-strength pressure vessels. Carbon fiber is well-suited for winding pressure vessels needed for storing hydrogen in fuel cell vehicles, offering weight advantages in tank design and the ability to withstand high pressures. The carbon fiber made pressure vessels are experiencing growth, with applications including CNG storage tanks, SCBA/SCUBA, hydrogen storage tanks, and others.

Restraint: Lack of standardization in manufacturing technologies

Manufacturing and non-recurring development costs continue to limit the penetration of composites in several applications such as sports goods, marine, and consumer goods. Design consistency, process standardization, and maintenance technology are the major issues of concern. The lack of standardization of various carbon fiber products and methodologies compels manufacturers to consider conservative designs. Lack of standardization also leads to manufacturers choosing conventional products instead of carbon fiber products such as yarn, fabric, and composites. Limited human resources with the required training and experience in composites also restrain the use of carbon fiber products.

Opportunity: Increasing demand for fuel cell electric vehicles (FCEVs)

Carbon fibers are used in manufacturing hydrogen tanks that are used in fuel tanks and mobile pipeline applications. The market for fuel cell electric vehicles (FCEVs) is expected to grow rapidly due to the stringent eco-friendly rules that focus on using clean fuel. Currently, the market for FCEVs is very small. However, it is expected to grow rapidly during the forecast period.

Challenge: Production of low-cost carbon fiber

The high cost of PAN and pitch carbon fibers is one of the major concerns associated with its growth. Carbon fiber still has low usage in large applications due to its high cost. Developing low-cost technologies is a major challenge for researchers and key manufacturers. In the automotive industry, carbon fiber composites are only introduced in high-end and luxury cars due to their high cost. With the production of low-cost carbon fiber, there is expected to be increased use in the automotive industry.

Ecosystem: Carbon Fiber Market

Carbon Fiber Market Ecosystem

Based on the end-use industry, the pressure vessels segment is estimated to account for the highest CAGR in the Carbon Fiber market share during the forecast period.

Pressure vessels for gas storage is the fastest growing industry for carbon fiber. Storage of liquid propane gas (LPG) compressed natural gas (CNG), renewable natural gas (RNG), and hydrogen gas (H2) are the primary end markets. While LPG tanks can be used in vehicles, there is also a growing market in developing countries for cooking and heating. CNG, RNG, and H2 fuel systems are becoming more common in passenger cars, buses, trucks, and other vehicles, as well as for bulk transportation/distribution — also known as mobile pipeline — to supply refueling stations or industrial sites. These fuel storage tanks in vehicles are an important component in low- or zero-emission powertrains for clean alternatives to gasoline, diesel, and jet fuel. These powertrains also offer a free alternative to battery-powered vehicles, with refueling infrastructure and refill times comparable to those of fossil fuels.

Based on application, composites application is anticipated to register the highest CAGR in the Carbon Fiber market.

carbon fiber composites are created by combining carbon fiber with a resin, such as vinyl ester or epoxy, to produce a composite material with superior performance properties to the individual materials. They are stronger, lighter, and more durable alternatives to wood or metal in many applications. CFRP composites can be up to 10 times stronger and 5 times lighter than steel, with tensile strengths ranging from 400 to 500 ksi and an average density of 1.55 g/cc. CFRP materials are well-known for their high strength-to-weight ratio, corrosion resistance, stiffness, and durability.

Europe to hold the largest market share during the forecast period.

Passenger cars and vans ('light commercial vehicles') account for approximately 12% and 2.5% of total EU carbon dioxide (CO2) emissions, respectively. Since 2020, stricter CO2 emission targets have been in effect. Between 2019 and 2020, the average CO2 emissions from all new passenger cars registered in Europe fell by 12%, and by 12.5% between 2020 and 2021. The main driver of the emissions reduction is an increase in zero-emission passenger car registrations, which will account for 10% of the EU fleet by 2021. The European Parliament and Council adopted Regulation (EU) 2023/851 on April 19, 2023, amending Regulation (EU) 2019/631 to strengthen CO2 emission performance standards for new passenger cars and light commercial vehicles in line with the European Union's increased climate ambition. The amendment, in particular, strengthens the emission targets in effect beginning in 2030 and establishes a 100% reduction target for both cars and vans beginning in 2035. This has led to the extensive use of carbon fiber in lightweight vehicles and electric cars in the region.

Carbon Fiber Market by Region

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Key Market Players

The Carbon Fiber market is dominated by a few globally established players. Toray Industries Inc., (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Hexcel Corporation (US), Solvay (Belgium), SGL Carbon (Germany), Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Co., Ltd. (China), Kureha Corporation (Japan), DowAksa (Turkey), Jilin Chemical Fiber Group Co., Ltd. (China), Jiangsu Hengshen Co., Ltd. (China), Anshan Sinoda Carbon Fibers Co., Ltd. (China), and China National Bluestar (Group) Co., Ltd. (China), among others, are the main producers who have won significant contracts recently. Since global requirements are changing, contracts and new product development have received the majority of attention.

These companies are attempting to establish themselves in the Carbon Fiber market by employing a range of inorganic and organic approaches. A thorough competitive analysis of these major Carbon Fiber market participants is included in the research, along with information on their company profiles, most recent advancements, and important market strategies.

Read More: Carbon Fiber Companies

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Scope of the Report

Report Metric

Details

Market size available for years

2018–2033

Base year considered

2022

Forecast period

2023–2033

Units considered

Value (USD Million), Volume (Kiloton)

Segments Covered

By Raw Material Type, By Fiber Type, By Modulus, By Product Type, By Application, By End-Use Industry, and By Region

Geographies covered

Europe, North America, Asia Pacific, Latin America, Middle East, and Africa

Companies covered

Toray Industries Inc., (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Hexcel Corporation (US), Solvay (Belgium), SGL Carbon (Germany), Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Co., Ltd. (China), Kureha Corporation (Japan), DowAksa (Turkey), Jilin Chemical Fiber Group Co., Ltd. (China), Jiangsu Hengshen Co., Ltd. (China), Anshan Sinoda Carbon Fibers Co., Ltd. (China), and China National Bluestar (Group) Co., Ltd. (China)

The study categorizes the carbon fiber market based on Raw Material Type, Fiber Type, Modulus, Product Type, Application, End-Use Industry, and Region.

By Raw Material Type
  • PAN-based Carbon Fiber
  • Pitch-based Carbon Fiber
By Fiber Type
  • Virgin Carbon Fiber
  • Recycled Carbon Fiber
By Modulus
  • Standard Modulus
  • Intermediate Modulus
  • High Modulus
By Product Type
  • Continuous carbon Fiber
  • Long Carbon Fiber
  • Short Carbon Fiber
By Application
  • Composites
  • Non-Composite
By End-Use Industry
  • Aerospace & Defense
  • Wind Energy
  • Automotive
  • Pipes
  • Sporting Goods
  • Medical & Healthcare
  • Construction & Infrastructure
  • Pressure Vessels
  • Others
By Region:
  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East & Africa

Recent Developments

  • In June 2023, Solvay and Spirit AeroSystems have cemented their research and technology relationship on the development of composite aerostructures. The collaborators aim to develop advanced manufacturing concepts and secure a step change in composite fabrication, automation and assembly technologies to de-risk and shorten the development cycle. They will also explore further strategic alignment on future innovation.
  • In April 2023, Solvay and GKN Aerospace have signed an extension to their 2017 collaboration agreement. Under the agreement, both businesses are developing a joint thermoplastic composites (TPC) roadmap to explore new materials and manufacturing processes for aerospace structures, while jointly targeting future strategic high-rate programs. In addition, Solvay will remain a GKN Aerospace preferred supplier for TPC materials.
  • In March 2023, Solvay and Airborne receive funding for a composite alternative to metal battery enclosures. This collaboration with Airborne, a technology leader in advanced composites manufacturing using automation and digitalization, has already received letters of support from Jaguar Land Rover and Vertical Aerospace. They see great potential in the design of more compact and lightweight enclosures for high-energy batteries in future electric cars and aircraft and are interested in the sustainability aspect of this project which aims to reuse composite waste..
  • In November 2022, Celanese Corporation completed the acquisition of the majority of the Mobility & Materials (M&M) business of DuPont. Celanese has acquired a broad portfolio of engineered thermoplastics and elastomers, industry-renowned brands and intellectual property, global production assets, and a world-class organization.
  • In September 2022, the Mitsubishi Chemical Group Corporation has agreed with the Japan Windsurfing Association to jointly promote recycling activities for carbon fiber used in windsurfing equipment.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 37)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
    1.3 INCLUSIONS AND EXCLUSIONS 
    1.4 MARKET SCOPE 
           1.4.1 CARBON FIBER MARKET SEGMENTATION
           1.4.2 CARBON FIBER MARKET: REGIONAL SCOPE
           1.4.3 YEARS CONSIDERED
    1.5 CURRENCY CONSIDERED 
    1.6 UNIT CONSIDERED 
    1.7 LIMITATIONS 
    1.8 STAKEHOLDERS 
    1.9 SUMMARY OF CHANGES 
    1.10 IMPACT OF RECESSION 
 
2 RESEARCH METHODOLOGY (Page No. - 42)
    2.1 RESEARCH DATA 
          FIGURE 1 CARBON FIBER MARKET: RESEARCH DESIGN
    2.2 BASE NUMBER CALCULATION 
           2.2.1 APPROACH 1: SUPPLY-SIDE ANALYSIS
           2.2.2 APPROACH 2: DEMAND-SIDE APPROACH
    2.3 APPROACH TO IMPACT OF RECESSION 
    2.4 FORECAST NUMBER CALCULATION 
           2.4.1 SUPPLY SIDE
           2.4.2 DEMAND SIDE
    2.5 SECONDARY DATA 
           2.5.1 KEY DATA FROM SECONDARY SOURCES
           2.5.2 PRIMARY DATA
                    2.5.2.1 Key data from primary sources
                    2.5.2.2 Primary interviews with top carbon fiber manufacturers
                    2.5.2.3 Breakdown of primary interviews
                    2.5.2.4 Key industry insights
    2.6 MARKET SIZE ESTIMATION 
           2.6.1 BOTTOM-UP APPROACH
                    FIGURE 2 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.6.2 TOP-DOWN APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.7 DATA TRIANGULATION 
          FIGURE 4 CARBON FIBER MARKET: DATA TRIANGULATION
    2.8 FACTOR ANALYSIS 
    2.9 RESEARCH ASSUMPTIONS 
    2.10 MARKET GROWTH RATE ASSUMPTION/GROWTH FORECAST 
    2.11 LIMITATIONS IN MARKET SIZE ESTIMATION 
    2.12 RISKS ASSOCIATED WITH CARBON FIBER MARKET 
 
3 EXECUTIVE SUMMARY (Page No. - 53)
    FIGURE 5 PAN-BASED SEGMENT LED CARBON FIBER MARKET IN 2022
    FIGURE 6 COMPOSITES APPLICATION DOMINATED CARBON FIBER MARKET IN 2022
    FIGURE 7 AEROSPACE & DEFENSE END-USE INDUSTRY LED CARBON FIBER  MARKET IN 2022
    FIGURE 8 MARKET IN CHINA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 9 EUROPE ACCOUNTED FOR LARGEST MARKET SHARE IN 2022
 
4 PREMIUM INSIGHTS (Page No. - 58)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CARBON FIBER MARKET 
          FIGURE 10 INCREASE IN DEMAND FOR MANUFACTURING PRESSURE VESSELS TO DRIVE CARBON FIBER MARKET
    4.2 CARBON FIBER MARKET, BY RAW MATERIAL 
          FIGURE 11 PAN-BASED SEGMENT DOMINATED CARBON FIBER MARKET IN 2022
    4.3 CARBON FIBER MARKET, BY APPLICATION 
          FIGURE 12 COMPOSITES APPLICATION DOMINATED CARBON FIBER MARKET IN 2022
    4.4 CARBON FIBER MARKET, BY END-USE INDUSTRY 
          FIGURE 13 WIND ENERGY SEGMENT ACCOUNTED FOR LARGEST SHARE IN 2022
    4.5 CARBON FIBER MARKET GROWTH, BY KEY COUNTRY 
          FIGURE 14 MARKET IN CHINA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 61)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           5.2.1 DRIVERS
                    5.2.1.1 Growth in demand for manufacture of satellite parts
                    5.2.1.2 High demand from aerospace & defense industry
                    5.2.1.3 Stringent eco-friendly regulations to drive adoption of  carbon fiber and related composites in automotive applications
                    5.2.1.4 Increased use in wind energy industry
                                TABLE 1 NEW WIND POWER INSTALLATIONS (ONSHORE), BY REGION, 2022 VS. 2027
                    5.2.1.5 Rise in demand for regular tow carbon in pressure vessels
           5.2.2 RESTRAINTS
                    5.2.2.1 High cost of carbon fiber
                    5.2.2.2 Lack of standardization in manufacturing technologies
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increased investments for development of low-cost coal-based carbon fibers
                    5.2.3.2 Potential opportunities in new applications
                    5.2.3.3 Increasing demand for fuel cell electric vehicles (FCEVs)
                                TABLE 2 NUMBER OF FCEVS, BY MAJOR COUNTRY/REGION, 2021
                    5.2.3.4 Increase in use of carbon fiber in 3D printing
           5.2.4 CHALLENGES
                    5.2.4.1 Production of low-cost carbon fiber
                    5.2.4.2 Capital-intensive production and complex manufacturing process
    5.3 PORTER’S FIVE FORCES ANALYSIS 
           5.3.1 BARGAINING POWER OF BUYERS
           5.3.2 BARGAINING POWER OF SUPPLIERS
           5.3.3 THREAT OF NEW ENTRANTS
           5.3.4 THREAT OF SUBSTITUTES
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 3 CARBON FIBER MARKET: PORTER’S FIVE FORCES ANALYSIS
    5.4 SUPPLY CHAIN ANALYSIS 
          FIGURE 17 CARBON FIBER MARKET: SUPPLY CHAIN ANALYSIS
    5.5 VALUE CHAIN ANALYSIS 
          FIGURE 18 CARBON FIBER MARKET: VALUE CHAIN ANALYSIS
    5.6 ECOSYSTEM MAP 
          TABLE 4 CARBON FIBER MARKET: COMPANIES AND THEIR ROLES IN ECOSYSTEM
          FIGURE 19 KEY PLAYERS IN CARBON FIBER MARKET ECOSYSTEM
    5.7 ECOSYSTEM: CARBON FIBER MARKET 
    5.8 PRICING ANALYSIS 
           5.8.1 AVERAGE SELLING PRICE, BY END-USE INDUSTRY (KEY PLAYERS)
           5.8.2 AVERAGE SELLING PRICE, BY RAW MATERIAL
           5.8.3 AVERAGE SELLING PRICE, BY FIBER TYPE
           5.8.4 AVERAGE SELLING PRICE, BY MODULUS
           5.8.5 AVERAGE SELLING PRICE, BY PRODUCT TYPE
           5.8.6 AVERAGE SELLING PRICE, BY APPLICATION
           5.8.7 AVERAGE SELLING PRICE, BY END-USE INDUSTRY
    5.9 AVERAGE SELLING PRICE TRENDS 
          TABLE 5 CARBON FIBER AVERAGE SELLING PRICE, BY REGION
    5.10 KEY STAKEHOLDERS AND BUYING CRITERIA 
           5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
                     TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES
           5.10.2 BUYING CRITERIA
                     TABLE 7 KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES
    5.11 TECHNOLOGY ANALYSIS 
    5.12 CASE STUDY ANALYSIS 
    5.13 TRENDS IMPACTING CUSTOMERS’ BUSINESSES 
    5.14 TRADE ANALYSIS 
           5.14.1 EXPORT SCENARIO OF CARBON FIBER
           5.14.2 IMPORT SCENARIO OF CARBON FIBER
    5.15 TARIFFS AND REGULATIONS 
           5.15.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                     TABLE 8 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
           5.15.2 STANDARDS IN CARBON FIBER MARKET
                     TABLE 9 CURRENT STANDARD CODES FOR AUTOMOTIVE COMPOSITES
                     TABLE 10 CURRENT STANDARD CODES FOR CONSTRUCTION COMPOSITES
    5.16 KEY CONFERENCES & EVENTS IN 2023–2024 
           TABLE 11 CARBON FIBER MARKET: DETAILED LIST OF CONFERENCES & EVENTS RELATED TO CARBON FIBER AND RELATED MARKETS
    5.17 PATENT ANALYSIS 
           5.17.1 INTRODUCTION
           5.17.2 METHODOLOGY
           5.17.3 DOCUMENT TYPE
           5.17.4 LEGAL STATUS OF PATENTS
           5.17.5 JURISDICTION ANALYSIS
           5.17.6 TOP COMPANIES/APPLICANTS
                     TABLE 12 LIST OF PATENTS BY TORAY INDUSTRIES, INC.
                     TABLE 13 LIST OF PATENTS BY TEIJIN LIMITED
                     TABLE 14 LIST OF PATENTS BY MITSUBISHI RAYON CO. LTD.
           5.17.7 TOP 10 PATENT OWNERS (US) IN LAST 13 YEARS
 
6 CARBON FIBER MARKET, BY RAW MATERIAL (Page No. - 96)
    6.1 INTRODUCTION 
          FIGURE 36 PAN-BASED CARBON FIBER MARKET TO REGISTER HIGHER GROWTH RATE
          TABLE 15 CARBON FIBER MARKET, BY RAW MATERIAL, 2018–2022 (USD MILLION)
          TABLE 16 CARBON FIBER MARKET, BY RAW MATERIAL, 2018–2022 (KILOTON)
          TABLE 17 CARBON FIBER MARKET, BY RAW MATERIAL, 2023–2033 (USD MILLION)
          TABLE 18 CARBON FIBER MARKET, BY RAW MATERIAL, 2023–2033 (KILOTON)
    6.2 PAN-BASED CARBON FIBER 
           6.2.1 EXTENSIVE DEMAND FOR STRUCTURAL MATERIAL COMPOSITES TO DRIVE MARKET
                    TABLE 19 PAN-BASED CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 20 PAN-BASED CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 21 PAN-BASED CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                    TABLE 22 PAN-BASED CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
    6.3 PITCH-BASED CARBON FIBER 
           6.3.1 WIDE USAGE IN SATELLITES, INDUSTRIAL, CIVIL ENGINEERING, AND SPORTS GOODS SEGMENTS TO DRIVE MARKET
           6.3.2 PETROLEUM-BASED PITCH CARBON FIBER
           6.3.3 COAL-BASED PITCH CARBON FIBER
                    TABLE 23 PITCH-BASED CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 24 PITCH-BASED CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 25 PITCH-BASED CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                    TABLE 26 PITCH-BASED CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
 
7 CARBON FIBER MARKET, BY FIBER TYPE (Page No. - 104)
    7.1 INTRODUCTION 
    7.2 VIRGIN CARBON FIBER 
           7.2.1 HIGH LONG-TERM PERFORMANCE IN TERMS OF FATIGUE AND ENVIRONMENTAL EFFECTS TO DRIVE MARKET
    7.3 RECYCLED CARBON FIBER 
           7.3.1 LOWER COST TO DRIVE MARKET
                    FIGURE 37 VIRGIN SEGMENT TO DOMINATE CARBON FIBER MARKET DURING  FORECAST PERIOD
                    TABLE 27 CARBON FIBER MARKET, BY FIBER TYPE, 2018–2022 (USD MILLION)
                    TABLE 28 CARBON FIBER MARKET, BY FIBER TYPE, 2018–2022 (KILOTON)
                    TABLE 29 CARBON FIBER MARKET SIZE, BY FIBER TYPE, 2023–2033 (USD MILLION)
                    TABLE 30 CARBON FIBER MARKET, BY FIBER TYPE, 2023–2033 (KILOTON)
 
8 CARBON FIBER MARKET, BY MODULUS (Page No. - 108)
    8.1 INTRODUCTION 
    8.2 STANDARD MODULUS 
           8.2.1 USAGE ACROSS INDUSTRIES TO DRIVE MARKET
    8.3 INTERMEDIATE MODULUS 
           8.3.1 DEMAND IN PRESSURE VESSELS, WIND TURBINE BLADES, AND AEROSPACE TO DRIVE MARKET
    8.4 HIGH MODULUS 
           8.4.1 DEMAND FOR AEROSPACE APPLICATIONS TO DRIVE MARKET
                    FIGURE 38 STANDARD MODULUS SEGMENT TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD
                    TABLE 31 CARBON FIBER MARKET, BY MODULUS, 2018–2022 (USD MILLION)
                    TABLE 32 CARBON FIBER MARKET, BY MODULUS, 2018–2022 (KILOTON)
                    TABLE 33 CARBON FIBER MARKET, BY MODULUS, 2023–2033 (USD MILLION)
                    TABLE 34 CARBON FIBER MARKET, BY MODULUS, 2023–2033 (KILOTON)
 
9 CARBON FIBER MARKET, BY PRODUCT TYPE (Page No. - 112)
    9.1 INTRODUCTION 
          FIGURE 39 CONTINUOUS CARBON FIBER SEGMENT TO DOMINATE MARKET
          TABLE 35 CARBON FIBER MARKET, BY PRODUCT TYPE, 2018–2022 (USD MILLION)
          TABLE 36 CARBON FIBER MARKET, BY PRODUCT TYPE, 2018–2022 (KILOTON)
          TABLE 37 CARBON FIBER MARKET, BY PRODUCT TYPE, 2023–2033 (USD MILLION)
          TABLE 38 CARBON FIBER MARKET, BY PRODUCT TYPE, 2023–2033 (KILOTON)
    9.2 CONTINUOUS CARBON FIBER 
           9.2.1 DEMAND FOR HIGHER TENSILE STRENGTH TO DRIVE MARKET
                    TABLE 39 CONTINUOUS CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 40 CONTINUOUS CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 41 CONTINUOUS CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                    TABLE 42 CONTINUOUS CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
    9.3 LONG CARBON FIBER 
           9.3.1 DEMAND FOR SPORTS GOODS TO DRIVE MARKET
                    TABLE 43 LONG CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 44 LONG CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 45 LONG CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                    TABLE 46 LONG CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
    9.4 SHORT CARBON FIBER 
           9.4.1 DEMAND FOR INJECTION MOLDING TO DRIVE MARKET
                    TABLE 47 SHORT CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                    TABLE 48 SHORT CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                    TABLE 49 SHORT CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                    TABLE 50 SHORT CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
 
10 CARBON FIBER MARKET, BY APPLICATION (Page No. - 121)
     10.1 INTRODUCTION 
             FIGURE 40 COMPOSITES TO BE LARGER APPLICATION OF CARBON FIBER
             TABLE 51 CARBON FIBER MARKET, BY APPLICATION, 2018–2022 (USD MILLION)
             TABLE 52 CARBON FIBER MARKET, BY APPLICATION, 2018–2022 (KILOTON)
             TABLE 53 CARBON FIBER MARKET, BY APPLICATION, 2023–2033 (USD MILLION)
             TABLE 54 CARBON FIBER MARKET, BY APPLICATION, 2023–2033 (KILOTON)
     10.2 COMPOSITES 
             10.2.1 RIGIDITY AND SUPERIOR TENSILE STRENGTH TO DRIVE MARKET
             10.2.2 PREPREGS
             10.2.3 MOLDING COMPOUNDS
             10.2.4 WOVEN FABRICS
                        TABLE 55 COMPOSITES: CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 56 COMPOSITES: CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                        TABLE 57 COMPOSITES: CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 58 COMPOSITES: CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
     10.3 NON-COMPOSITES 
             10.3.1 DEMAND FOR ELECTRIC VEHICLES AND 3D PRINTING TO DRIVE MARKET
                        TABLE 59 NON-COMPOSITES: CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 60 NON-COMPOSITES: CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
                        TABLE 61 NON-COMPOSITES: CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 62 NON-COMPOSITES: CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
 
11 CARBON FIBER MARKET, BY END-USE INDUSTRY (Page No. - 128)
     11.1 INTRODUCTION 
             FIGURE 41 CARBON FIBER MARKET TO WITNESS HIGHEST GROWTH IN PRESSURE VESSELS INDUSTRY BETWEEN 2023 AND 2028
             TABLE 63 CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
             TABLE 64 CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
             TABLE 65 CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
             TABLE 66 CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
     11.2 AEROSPACE & DEFENSE 
             11.2.1 MAJOR CONSUMER OF CARBON FIBER COMPOSITE MATERIALS
                        TABLE 67 NUMBER OF NEW COMMERCIAL AIRPLANE DELIVERIES, BY REGION, 2019–2038
                        FIGURE 42 EUROPE TO DRIVE CARBON FIBER MARKET IN AEROSPACE &  DEFENSE INDUSTRY
                        TABLE 68 CARBON FIBER MARKET IN AEROSPACE & DEFENSE, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 69 CARBON FIBER MARKET IN AEROSPACE & DEFENSE, BY REGION, 2018–2022 (KILOTON)
                        TABLE 70 CARBON FIBER MARKET IN AEROSPACE & DEFENSE, BY REGION,  2023–2033 (USD MILLION)
                        TABLE 71 CARBON FIBER MARKET IN AEROSPACE & DEFENSE, BY REGION, 2023–2033 (KILOTON)
             11.2.2 ROCKETS, SPACE VEHICLES, HABITATION EQUIPMENT
             11.2.3 UMA (URBAN AIR MOBILITY) AND SMALL AIRCRAFT EQUIPMENT
     11.3 WIND ENERGY 
             11.3.1 STEADY INCREASE IN GLOBAL WIND ENERGY INSTALLATION
                        TABLE 72 CARBON FIBER MARKET IN WIND ENERGY, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 73 CARBON FIBER MARKET IN WIND ENERGY, BY REGION, 2018–2022 (KILOTON)
                        TABLE 74 CARBON FIBER MARKET IN WIND ENERGY, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 75 CARBON FIBER MARKET IN WIND ENERGY, BY REGION, 2023–2033 (KILOTON)
     11.4 AUTOMOTIVE 
             11.4.1 RECENT ACQUISITIONS AND ADOPTION OF CARBON FIBERS BY AUTOMOTIVE GIANTS TO DRIVE MARKET
                        TABLE 76 COST BENEFITS OF CARBON FIBER COMPOSITE COMPONENTS VS. STEEL COMPONENTS
             11.4.2 INTERIOR COMPONENTS
             11.4.3 EXTERIOR COMPONENTS
                        TABLE 77 CARBON FIBER MARKET IN AUTOMOTIVE, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 78 CARBON FIBER MARKET IN AUTOMOTIVE, BY REGION, 2018–2022 (KILOTON)
                        TABLE 79 CARBON FIBER MARKET IN AUTOMOTIVE, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 80 CARBON FIBER MARKET IN AUTOMOTIVE, BY REGION, 2023–2033 (KILOTON)
             11.4.4 SMALL MOBILITY APPLICATION
     11.5 PIPES 
             11.5.1 UNIQUE BLEND OF PROPERTIES TO DRIVE MARKET
                        TABLE 81 CARBON FIBER MARKET IN PIPES, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 82 CARBON FIBER MARKET IN PIPES, BY REGION, 2018–2022 (KILOTON)
                        TABLE 83 CARBON FIBER MARKET IN PIPES, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 84 CARBON FIBER MARKET IN PIPES, BY REGION, 2023–2033 (KILOTON)
     11.6 SPORTING GOODS 
             11.6.1 INTEREST IN HIGHER PERFORMANCE AND SUSTAINABILITY TO DRIVE NEW CFRP MATERIALS IN SPORTING GOODS
                        TABLE 85 CARBON FIBER MARKET IN SPORTING GOODS, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 86 CARBON FIBER MARKET IN SPORTING GOODS, BY REGION, 2018–2022 (KILOTON)
                        TABLE 87 CARBON FIBER MARKET IN SPORTING GOODS, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 88 CARBON FIBER MARKET IN SPORTING GOODS, BY REGION, 2023–2033 (KILOTON)
     11.7 MEDICAL & HEALTHCARE 
             11.7.1 SUSTENANCE UNDER EXTREME ENVIRONMENTAL CONDITIONS TO DRIVE MARKET
                        TABLE 89 CARBON FIBER MARKET IN MEDICAL & HEALTHCARE, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 90 CARBON FIBER MARKET IN MEDICAL & HEALTHCARE, BY REGION,  2018–2022 (KILOTON)
                        TABLE 91 CARBON FIBER MARKET IN MEDICAL & HEALTHCARE, BY REGION,  2023–2033 (USD MILLION)
                        TABLE 92 CARBON FIBER MARKET IN MEDICAL & HEALTHCARE, BY REGION,  2023–2033 (KILOTON)
             11.7.2 DIAGNOSTICS IMAGING
             11.7.3 BODY IMPLANT, SURGICAL INSTRUMENTS, AND OTHERS
     11.8 CONSTRUCTION & INFRASTRUCTURE 
             11.8.1 GROWTH IN CONSTRUCTION & INFRASTRUCTURE SEGMENT TO BOOST DEMAND
                        TABLE 93 CARBON FIBER MARKET IN CIVIL ENGINEERING, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 94 CARBON FIBER MARKET IN CIVIL ENGINEERING, BY REGION, 2018–2022 (KILOTON)
                        TABLE 95 CARBON FIBER MARKET IN CIVIL ENGINEERING, BY REGION, 2023–2033 (USD MILLION)
                        TABLE 96 CARBON FIBER MARKET IN CIVIL ENGINEERING, BY REGION, 2023–2033 (KILOTON)
             11.8.2 BUILDING INFRASTRUCTURE
             11.8.3 CIVIL INFRASTRUCTURE
     11.9 PRESSURE VESSELS 
             11.9.1 INCREASE IN DEMAND FOR TYPE IV CYLINDERS TO DRIVE MARKET
                        TABLE 97 CARBON FIBER MARKET IN PRESSURE VESSELS, BY REGION, 2018–2022 (USD MILLION)
                        TABLE 98 CARBON FIBER MARKET IN PRESSURE VESSELS, BY REGION, 2018–2022 (KILOTON)
                        TABLE 99 CARBON FIBER MARKET IN PRESSURE VESSELS, BY REGION,  2023–2033 (USD MILLION)
                        TABLE 100 CARBON FIBER MARKET IN PRESSURE VESSELS, BY REGION, 2023–2033 (KILOTON)
             11.9.2 DEMAND FOR CONTINUOUS CARBON FIBER IN PRESSURE VESSELS (TOW PREPREG)
     11.1 OTHER END-USE INDUSTRIES 
             11.10.1 MARINE
             11.10.2 ELECTRIC & ELECTRONICS
                        TABLE 101 CARBON FIBER MARKET IN OTHER END-USE INDUSTRIES, BY REGION,  2018–2022 (USD MILLION)
                        TABLE 102 CARBON FIBER MARKET IN OTHER END-USE INDUSTRIES, BY REGION,  2018–2022 (KILOTON)
                        TABLE 103 CARBON FIBER MARKET IN OTHER END-USE INDUSTRIES, BY REGION,  2023–2033 (USD MILLION)
                        TABLE 104 CARBON FIBER MARKET IN OTHER END-USE INDUSTRIES, BY REGION,  2023–2033 (KILOTON)
 
12 CARBON FIBER MARKET, BY REGION (Page No. - 154)
     12.1 INTRODUCTION 
             FIGURE 43 CHINA TO BE FASTEST-GROWING CARBON FIBER MARKET DURING  FORECAST PERIOD
             TABLE 105 CARBON FIBER MARKET, BY REGION, 2018–2022 (USD MILLION)
             TABLE 106 CARBON FIBER MARKET, BY REGION, 2018–2022 (KILOTON)
             TABLE 107 CARBON FIBER MARKET, BY REGION, 2023–2033 (USD MILLION)
             TABLE 108 CARBON FIBER MARKET, BY REGION, 2023–2033 (KILOTON)
     12.2 EUROPE 
             12.2.1 IMPACT OF RECESSION
                        FIGURE 44 EUROPE: CARBON FIBER MARKET SNAPSHOT
             12.2.2 EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY
                        TABLE 109 EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 110 EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                        TABLE 111 EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                        TABLE 112 EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.2.3 EUROPE: CARBON FIBER MARKET, BY COUNTRY
                        TABLE 113 EUROPE: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 114 EUROPE: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 115 EUROPE: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (USD MILLION)
                        TABLE 116 EUROPE: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (KILOTON)
             12.2.4 GERMANY
                        12.2.4.1 Growth of automotive and aerospace industries to drive market
                                      TABLE 117 GERMANY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 118 GERMANY: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                                      TABLE 119 GERMANY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 120 GERMANY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.2.5 FRANCE
                        12.2.5.1 Presence of major aircraft manufacturers to drive market
                                      TABLE 121 FRANCE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 122 FRANCE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 123 FRANCE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 124 FRANCE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.2.6 UK
                        12.2.6.1 Increasing demand for lightweight and high-performance materials to drive market
                                      TABLE 125 UK: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 126 UK: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 127 UK: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 128 UK: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.2.7 ITALY
                        12.2.7.1 Moderate market growth due to recovering economy
                                      TABLE 129 ITALY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 130 ITALY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 131 ITALY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 132 ITALY: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.2.8 SPAIN
                        12.2.8.1 High demand for carbon fiber from wind energy sector to drive market
                                      TABLE 133 SPAIN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 134 SPAIN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 135 SPAIN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 136 SPAIN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.2.9 REST OF EUROPE
                        TABLE 137 REST OF EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 138 REST OF EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 139 REST OF EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 140 REST OF EUROPE: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
     12.3 NORTH AMERICA 
             12.3.1 IMPACT OF RECESSION
                        FIGURE 45 NORTH AMERICA: CARBON FIBER MARKET SNAPSHOT
             12.3.2 NORTH AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY
                        TABLE 141 NORTH AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 142 NORTH AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 143 NORTH AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 144 NORTH AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
             12.3.3 NORTH AMERICA: CARBON FIBER MARKET, BY COUNTRY
                        TABLE 145 NORTH AMERICA: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 146 NORTH AMERICA: CARBON FIBER MARKET SIZE, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 147 NORTH AMERICA: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (USD MILLION)
                        TABLE 148 NORTH AMERICA: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (KILOTON)
             12.3.4 US
                        12.3.4.1 Presence of well-established industries to drive market
                                      TABLE 149 US: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 150 US: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 151 US: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 152 US: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.3.5 CANADA
                        12.3.5.1 Presence of well-established aerospace industry to fuel demand for carbon fiber
                                      TABLE 153 CANADA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 154 CANADA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 155 CANADA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 156 CANADA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
     12.4 ASIA PACIFIC 
             12.4.1 IMPACT OF RECESSION
                        FIGURE 46 ASIA PACIFIC: CARBON FIBER MARKET SNAPSHOT
             12.4.2 ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY
                        TABLE 157 ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 158 ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                        TABLE 159 ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 160 ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.4.3 ASIA PACIFIC: CARBON FIBER MARKET, BY COUNTRY
                        TABLE 161 ASIA PACIFIC: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 162 ASIA PACIFIC: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 163 ASIA PACIFIC: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (USD MILLION)
                        TABLE 164 ASIA PACIFIC: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (KILOTON)
             12.4.4 JAPAN
                        12.4.4.1 Large exports of carbon fiber to drive market
                                      TABLE 165 JAPAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 166 JAPAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 167 JAPAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 168 JAPAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.4.5 CHINA
                        12.4.5.1 Sports goods and wind energy industries to drive market
                                      TABLE 169 CHINA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 170 CHINA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 171 CHINA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 172 CHINA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.4.6 TAIWAN
                        12.4.6.1 Large manufacture of bicycles to drive market
                                      TABLE 173 TAIWAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 174 TAIWAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 175 TAIWAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 176 TAIWAN: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.4.7 SOUTH KOREA
                        12.4.7.1 Presence of major automotive companies to propel market
                                      TABLE 177 SOUTH KOREA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                      TABLE 178 SOUTH KOREA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 179 SOUTH KOREA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                                      TABLE 180 SOUTH KOREA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.4.8 REST OF ASIA PACIFIC
                        TABLE 181 REST OF ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 182 REST OF ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 183 REST OF ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 184 REST OF ASIA PACIFIC: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
     12.5 MIDDLE EAST & AFRICA 
             12.5.1 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY
                        TABLE 185 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 186 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 187 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 188 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
             12.5.2 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY COUNTRY
                        TABLE 189 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY COUNTRY,  2018–2022 (USD MILLION)
                        TABLE 190 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 191 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY COUNTRY,  2023–2033 (USD MILLION)
                        TABLE 192 MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (KILOTON)
             12.5.3 GULF COOPERATION COUNCIL (GCC) COUNTRIES
                        12.5.3.1 UAE
                                     12.5.3.1.1 Increasing demand for cars to drive growth
                                                      TABLE 193 UAE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                                      TABLE 194 UAE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                      TABLE 195 UAE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                                      TABLE 196 UAE: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
                        12.5.3.2 Saudi Arabia
                                     12.5.3.2.1 High demand from pipes & pressure vessels end-use industry to drive market
                                                      TABLE 197 SAUDI ARABIA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                                      TABLE 198 SAUDI ARABIA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                                      TABLE 199 SAUDI ARABIA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                                                      TABLE 200 SAUDI ARABIA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
                        12.5.3.3 Rest of GCC Countries
                                      TABLE 201 REST OF GULF COOPERATION COUNCIL: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                      TABLE 202 REST OF GULF COOPERATION COUNCIL: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                                      TABLE 203 REST OF GULF COOPERATION COUNCIL: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                                      TABLE 204 REST OF GULF COOPERATION COUNCIL: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
             12.5.4 SOUTH AFRICA
                        12.5.4.1 Growing wind energy, automotive, and aerospace & defense industries to drive market
                                      TABLE 205 SOUTH AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                                      TABLE 206 SOUTH AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 207 SOUTH AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                                      TABLE 208 SOUTH AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.5.5 REST OF MIDDLE EAST & AFRICA
                        TABLE 209 REST OF MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                        TABLE 210 REST OF MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                        TABLE 211 REST OF MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                        TABLE 212 REST OF MIDDLE EAST & AFRICA: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
     12.6 LATIN AMERICA 
             12.6.1 LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY
                        TABLE 213 LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 214 LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 215 LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 216 LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
             12.6.2 LATIN AMERICA: CARBON FIBER MARKET, BY COUNTRY
                        TABLE 217 LATIN AMERICA: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (USD MILLION)
                        TABLE 218 LATIN AMERICA: CARBON FIBER MARKET, BY COUNTRY, 2018–2022 (KILOTON)
                        TABLE 219 LATIN AMERICA: CARBON FIBER MARKET, BY COUNTRY,  2023–2033 (USD MILLION)
                        TABLE 220 LATIN AMERICA: CARBON FIBER MARKET, BY COUNTRY, 2023–2033 (KILOTON)
             12.6.3 BRAZIL
                        12.6.3.1 Growth of aerospace & defense and wind energy industries to drive market
                                      TABLE 221 BRAZIL: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 222 BRAZIL: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 223 BRAZIL: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 224 BRAZIL: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.6.4 MEXICO
                        12.6.4.1 Automotive and wind energy to be prominent consumers of carbon fiber
                                      TABLE 225 MEXICO: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (USD MILLION)
                                      TABLE 226 MEXICO: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2018–2022 (KILOTON)
                                      TABLE 227 MEXICO: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (USD MILLION)
                                      TABLE 228 MEXICO: CARBON FIBER MARKET, BY END-USE INDUSTRY, 2023–2033 (KILOTON)
             12.6.5 REST OF LATIN AMERICA
                        TABLE 229 REST OF LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (USD MILLION)
                        TABLE 230 REST OF LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2018–2022 (KILOTON)
                        TABLE 231 REST OF LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (USD MILLION)
                        TABLE 232 REST OF LATIN AMERICA: CARBON FIBER MARKET, BY END-USE INDUSTRY,  2023–2033 (KILOTON)
 
13 COMPETITIVE LANDSCAPE (Page No. - 230)
     13.1 INTRODUCTION 
     13.2 KEY PLAYERS’ STRATEGIES/RIGHT TO WIN 
             13.2.1 STRATEGIES ADOPTED BY CARBON FIBER MANUFACTURERS
     13.3 REVENUE ANALYSIS 
            FIGURE 47 CARBON FIBER MARKET: REVENUE ANALYSIS OF TOP 5 MARKET PLAYERS
     13.4 MARKET SHARE ANALYSIS 
            FIGURE 48 SHARES OF TOP COMPANIES IN CARBON FIBER MARKET
            TABLE 233 DEGREE OF COMPETITION: CARBON FIBER MARKET
     13.5 COMPANY EVALUATION MATRIX 
             13.5.1 STARS
             13.5.2 PERVASIVE PLAYERS
             13.5.3 EMERGING LEADERS
             13.5.4 PARTICIPANTS
                        FIGURE 49 CARBON FIBER MARKET: COMPANY EVALUATION MATRIX, 2022
             13.5.5 COMPANY FOOTPRINT
                        TABLE 234 COMPANY PRODUCT FOOTPRINT
                        TABLE 235 COMPANY END-USE INDUSTRY FOOTPRINT
                        TABLE 236 PRODUCT TYPE FOOTPRINT
                        TABLE 237 COMPANY REGION FOOTPRINT
     13.6 START-UP/SME EVALUATION MATRIX 
             13.6.1 PROGRESSIVE COMPANIES
             13.6.2 RESPONSIVE COMPANIES
             13.6.3 DYNAMIC COMPANIES
             13.6.4 STARTING BLOCKS
                        FIGURE 50 CARBON FIBER MARKET: SMALL AND MEDIUM-SIZED ENTERPRISES  MAPPING, 2022
             13.6.5 COMPETITIVE BENCHMARKING
                        TABLE 238 CARBON FIBER MARKET: KEY START-UPS/SMES
                        TABLE 239 CARBON FIBER MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
     13.7 COMPETITIVE SCENARIO AND TRENDS 
             13.7.1 PRODUCT LAUNCHES
                        TABLE 240 CARBON FIBER MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, 2018–2023
             13.7.2 DEALS AND DEPLOYMENTS
                        TABLE 241 CARBON FIBER MARKET: DEALS, 2018–2023
                        TABLE 242 CARBON FIBER MARKET: OTHER DEVELOPMENTS, 2018–2023
 
14 COMPANY PROFILES (Page No. - 257)
(Business overview, Products/Services/Solutions offered, Recent Developments, MNM view)*
     14.1 KEY COMPANIES 
             14.1.1 TORAY INDUSTRIES, INC.
                        TABLE 243 TORAY INDUSTRIES, INC.: COMPANY OVERVIEW
                        TABLE 244 TORAY INDUSTRIES, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 246 TORAY INDUSTRIES, INC.: DEALS
                        TABLE 247 TORAY INDUSTRIES, INC.: OTHER DEVELOPMENTS
             14.1.2 TEIJIN LIMITED
                        TABLE 248 TEIJIN LIMITED: COMPANY OVERVIEW
                        TABLE 249 TEIJIN LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 250 TEIJIN LIMITED: PRODUCT LAUNCHES
                        TABLE 251 TEIJIN LIMITED: DEALS
                        TABLE 252 TEIJIN LIMITED: OTHER DEVELOPMENTS
             14.1.3 MITSUBISHI CHEMICAL GROUP CORPORATION
                        TABLE 253 MITSUBISHI CHEMICAL GROUP CORPORATION: COMPANY OVERVIEW
                        TABLE 254 MITSUBISHI CHEMICAL GROUP CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 255 MITSUBISHI CHEMICAL GROUP CORPORATION: DEALS
                        TABLE 256 MITSUBISHI CHEMICAL GROUP CORPORATION: OTHER DEVELOPMENTS
             14.1.4 HEXCEL CORPORATION
                        TABLE 257 HEXCEL CORPORATION: COMPANY OVERVIEW
                        TABLE 258 HEXCEL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 259 HEXCEL CORPORATION: PRODUCT LAUNCHES
                        TABLE 260 HEXCEL CORPORATION: DEALS
                        TABLE 261 HEXCEL CORPORATION: OTHER DEVELOPMENTS
             14.1.5 SOLVAY
                        TABLE 262 SOLVAY: COMPANY OVERVIEW
                        TABLE 263 SOLVAY: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 264 SOLVAY: PRODUCT LAUNCHES
                        TABLE 265 SOLVAY: DEALS
                        TABLE 266 SOLVAY: OTHER DEVELOPMENTS
             14.1.6 SGL CARBON
                        TABLE 267 SGL CARBON: COMPANY OVERVIEW
                        TABLE 268 SGL CARBON: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 269 SGL CARBON: PRODUCT LAUNCHES
                        TABLE 270 SGL CARBON: OTHER DEVELOPMENTS
             14.1.7 HYOSUNG ADVANCED MATERIALS
                        TABLE 271 HYOSUNG ADVANCED MATERIALS: COMPANY OVERVIEW
                        TABLE 272 HYOSUNG ADVANCED MATERIALS: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 273 HYOSUNG ADVANCED MATERIALS: PRODUCT LAUNCHES
                        TABLE 274 HYOSUNG ADVANCED MATERIALS: DEALS
                        TABLE 275 HYOSUNG ADVANCED MATERIALS: OTHER DEVELOPMENTS
             14.1.8 ZHONGFU SHENYING CARBON FIBER CO., LTD.
                        TABLE 276 ZHONGFU SHENYING CARBON FIBER CO., LTD.: COMPANY OVERVIEW
                        TABLE 277 ZHONGFU SHENYING CARBON FIBER CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 278 ZHONGFU SHENYING CARBON FIBER CO., LTD.: OTHER DEVELOPMENTS
             14.1.9 KUREHA CORPORATION
                        TABLE 279 KUREHA CORPORATION: COMPANY OVERVIEW
                        TABLE 280 KUREHA CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.10 DOWAKSA
                        TABLE 281 DOWAKSA: COMPANY OVERVIEW
                        TABLE 282 DOWAKSA: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 283 DOWAKSA: OTHER DEVELOPMENTS
             14.1.11 JILIN CHEMICAL FIBER GROUP CO., LTD.
                        TABLE 284 JILIN CHEMICAL FIBER GROUP CO., LTD.: COMPANY OVERVIEW
                        TABLE 285 JILIN CHEMICAL FIBER GROUP CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.12 JIANGSU HENGSHEN CO., LTD.
                        TABLE 286 JIANGSU HENGSHEN CO., LTD.: COMPANY OVERVIEW
                        TABLE 287 JIANGSU HENGSHEN CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 288 JIANGSU HENGSHEN CO., LTD.: PRODUCT LAUNCHES
                        TABLE 289 JIANGSU HENGSHEN CO., LTD.: DEAL
                        TABLE 290 JIANGSU HENGSHEN CO., LTD.: OTHER DEVELOPMENTS
             14.1.13 ANSHAN SINODA CARBON FIBERS CO., LTD.
                        TABLE 291 ANSHAN SINODA CARBON FIBERS CO., LTD.: COMPANY OVERVIEW
                        TABLE 292 ANSHAN SENODA CARBON FIBER CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
             14.1.14 CHINA NATIONAL BLUESTAR (GROUP) CO., LTD.
                        TABLE 293 CHINA NATIONAL BLUESTAR (GROUP) CO., LTD.: COMPANY OVERVIEW
                        TABLE 294 CHINA NATIONAL BLUESTAR (GROUP) CO., LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
*Details on Business overview, Products/Services/Solutions offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
     14.2 OTHER COMPANIES 
             14.2.1 WEIHAI GUANGWEI COMPOSITE MATERIALS CO., LTD.
                        TABLE 295 WEIHAI GUANG COMPOSITES MATERIALS CO., LTD.: COMPANY OVERVIEW
             14.2.2 UMATEX GROUP
                        TABLE 296 UMATEX GROUP: COMPANY OVERVIEW
             14.2.3 NIPPON GRAPHITE FIBER CORPORATION
                        TABLE 297 NIPPON GRAPHITE FIBER CORPORATION: COMPANY OVERVIEW
             14.2.4 CHANGZHOU JLON COMPOSITE CO., LTD.
                        TABLE 298 CHANGZHOU JLON COMPOSITE CO., LTD.: COMPANY OVERVIEW
             14.2.5 BCIRCULAR
                        TABLE 299 BCIRCULAR: COMPANY OVERVIEW
             14.2.6 VARTEGA INC.
                        TABLE 300 VARTEGA INC.: COMPANY OVERVIEW
             14.2.7 JILIN TANGU CARBON FIBER CO., LTD.
                        TABLE 301 JILIN TANGU CARBON FIBER CO., LTD.: COMPANY OVERVIEW
             14.2.8 WUXI GDE TECHNOLOGY CO., LTD.
                        TABLE 302 WUXI GDE TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             14.2.9 SINOFIBERS TECHNOLOGY CO., LTD.
                        TABLE 303 SINOFIBERS TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             14.2.10 JILIN JIYAN HIGH-TECH FIBERS CO., LTD.
                        TABLE 304 JILIN JIYAN HIGH-TECH FIBERS CO., LTD.: COMPANY OVERVIEW
             14.2.11 TIANNIAO
                        TABLE 305 TIANNIAO: COMPANY OVERVIEW
             14.2.12 CHINA PETROCHEMICAL CORPORATION (SINOPEC)
                        TABLE 306 CHINA PETROCHEMICAL CORPORATION: COMPANY OVERVIEW
             14.2.13 SICHUAN XINWANXING CARBON FIBER COMPOSITES CO., LTD.
                        TABLE 307 SICHUAN XINWANXING CARBON FIBER COMPOSITES CO., LTD.: COMPANY OVERVIEW
             14.2.14 FLINK INTERNATIONAL CO., LTD.
                        TABLE 308 FLINK INTERNATIONAL CO., LTD.: COMPANY OVERVIEW
             14.2.15 ACP COMPOSITES, INC.
                        TABLE 309 ACP COMPOSITES, INC.: COMPANY OVERVIEW
             14.2.16 YIXING ZHONGTAN TECHNOLOGY CO., LTD.
                        TABLE 310 YIXING ZHONGTAN TECHNOLOGY CO., LTD.: COMPANY OVERVIEW
             14.2.17 YIXING JUNCHAO CARBON FIBER PRODUCTS CO., LTD.
                        TABLE 311 YIXING JUNCHAO CARBON FIBER PRODUCTS CO., LTD.: COMPANY OVERVIEW
             14.2.18 CHINA COMPOSITES GROUP CORPORATION LTD.
                        TABLE 312 CHINA COMPOSITES GROUP CORPORATION LTD.: COMPANY OVERVIEW
 
15 APPENDIX (Page No. - 326)
     15.1 DISCUSSION GUIDE 
     15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL 
     15.3 CUSTOMIZATION OPTIONS 
     15.4 RELATED REPORTS 
     15.5 AUTHOR DETAILS

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

Secondary Research

Secondary sources referred to for this research study include financial statements of companies offering carbon fiber and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the carbon fiber market, which was validated by primary respondents.

Primary Research

Extensive primary research was conducted after obtaining information regarding the carbon fiber market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from carbon fiber industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to resin type, product type, application, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using carbon fiber were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of carbon fiber products and future outlook of their business which will affect the overall market.

The Breakup of Primary Research:

Carbon Fiber Market Size, and Share

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Market Size Estimation

The research methodology used to estimate the size of the carbon fiber market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in carbon fiber products in different applications at a regional level. Such procurements provide information on the demand aspects of the carbon fiber industry for each application. For each application, all possible segments of the carbon fiber market were integrated and mapped.

Carbon Fiber Market Size: Botton Up Approach

Carbon Fiber Market Size, and Share

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Carbon Fiber Market Size: Top-Down Approach

Carbon Fiber Market Size, and Share

Data Triangulation

After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.

Market Definition

Carbon fiber is a long, thin strand of material made from carbon. It is produced by baking precursors, such as polyacrylonitrile (PAN), pitch, and rayon, in an inert atmosphere to dissociate elements other than carbon. Carbon fiber is lightweight and has excellent strength, low specific gravity, excellent modulus of elasticity, and high corrosion resistance. Carbon fiber composite materials are used to make aircraft & spacecraft parts, bicycle frames, pipes & tanks, wind blades, golf shafts, badminton rackets, automobile springs, sailboat masts, automotive structural parts, and various other parts where lightweight and high strength are required.

Key Stakeholders

  • Carbon fiber manufacturers
  • Resin manufacturers
  • Universities, governments, and research organizations
  • Carbon fiber and composite associations and industrial bodies
  • Research and consulting firms
  • R&D institutions
  • Environmental support agencies
  • Investment banks and private equity firms

Report Objectives

  • To define, describe, and forecast the carbon fiber market size in terms of volume and value
  • To provide detailed information regarding the key factors, such as drivers, restraints, opportunities, and challenges influencing market growth
  • To analyze and project the global carbon fiber market by raw material type, fiber type, product type, application, end-use industry, and region
  • To forecast the market size concerning five main regions (along with country-level data), namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, and analyze the significant region-specific trends
  • To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions of the submarkets to the overall market
  • To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
  • To assess recent market developments and competitive strategies, such as agreements, contracts, acquisitions, and new product developments/new product launches, to draw the competitive landscape
  • To strategically profile the key market players and comprehensively analyze their core competencies

Available Customizations

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Product Analysis

  • Product matrix, which provides a detailed comparison of the product portfolio of each company's market
Custom Market Research Services

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Report Code
AD 1611
Published ON
Jan, 2024
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