The future of the carbon fiber market looks attractive with opportunities in the aerospace, industrial, and sporting goods industries. The global carbon fiber market declined in 2020 due to the global economic recession led by COVID-19. However, the market will witness recovery in the year 2021, and it is expected to reach an estimated $3.5 billion by 2026 with a CAGR of 5.5% from 2021 to 2026. The major drivers for market growth are growing demand for high performance and lightweight composite materials and increasing performance requirements in the end use industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of new applications and initiatives to innovate and commercialize the use of alternative precursors to reduce the manufacturing costs of carbon fiber. Toray, Mitsubishi, Teijin, Hexcel, SGL, and Cytec Solvay Group are among the major carbon fiber manufacturers.
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The study includes trends and forecast for the global carbon fiber market by end use industry, precursor type, tow size, modulus, and region as follows:
By End Use Industry [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
- Regional Jets
- General Aviation
- Wind Energy
- Electrical and Electronics (E&E)
- Sporting Goods
- Golf clubs
- Skis, snowboards and other winter sports equipment
- Fishing poles
By Precursor Type [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
By Tow Size [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
- Small Tow (<=24k)
- Large Tow (>24k)
By Modulus [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
By Region [Volume (M lbs) and $M shipment analysis from 2015 to 2026]:
- North America
- Rest of the world (Asia Pacific)
In this market, pan based carbon fiber and pitch bases carbon fiber are used to manufacture composites parts for various end use industry. Lucintel forecasts that pan based carbon fiber will remain the largest segment and it is also expected to witness the highest growth due to its wide application area in transportation, aerospace/defense, and wind energy industries.
Lucintel forecasts that industrial will be the largest end use industry and the sporting goods segment will witness the highest growth during the forecast period. Increasing demand for high performance lightweight materials in the automotive industry and growing demand for carbon composites in wind turbine with the increasing length of wind blades are driving market growth over the forecast period.
Europe is expected to remain the largest market and witness the highest growth over the forecast period due to demand from the industries of aerospace, automotive, and wind energy.
Emerging trends, which have a direct impact on the dynamics of the industry, include the emergence of new applications and initiatives to innovate and commercialize the use of alternative precursors to reduce the manufacturing costs of carbon fiber.
Some of the global carbon fiber manufacturers profiled in this report include are Toray, Mitsubishi, Teijin, Hexcel, SGL, and Cytec Solvay Group.
Features of the Global Carbon Fiber Market
- Market Size Estimates: Carbon fiber market size estimation in terms of value ($M) and volume (M lbs) shipment
- Trend and Forecast Analysis: Carbon fiber market trends (2015-2020) and forecast (2021-2026) by various segments and regions.
- Segmentation Analysis: Carbon fiber market size by various segments, such as end use industry, precursor type, tow size, modulus, and region in terms of value and volume.
- Regional Analysis: Carbon fiber market breakdown by North America, Europe, Rest of the World (including Asia Pacific).
- Growth Opportunities: Analysis on growth opportunities in different end use industry, by precursor type, tow size, modulus, and regions for the global carbon fiber market.
- Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global carbon fiber market.
- Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions
- Q.1 What are some of the most promising potential, high-growth opportunities for the carbon fiber market by end use industry (aerospace, industrial and sporting goods), by precursor type (Pan and Pitch), by tow size (small tow (<=24k) and large tow(>24k), by modulus (standard, intermediate, and high) and region (North America, Europe, and the Rest of the World (including Asia Pacific))?
- Q.2 Which segments will grow at a faster pace and why?
- Q.3 Which regions will grow at a faster pace and why?
- Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the carbon fiber market?
- Q.5 What are the business risks and threats to the carbon fiber market?
- Q.6 What are emerging trends in this carbon fiber market and the reasons behind them?
- Q.7 What are some changing demands of customers in the carbon fiber market?
- Q.8 What are the new developments in the carbon fiber market? Which companies are leading these developments?
- Q.9 Who are the major players in this carbon fiber market? What strategic initiatives are being implemented by key players for business growth?
- Q.10 What are some of the competitive products and processes in this carbon fiber area and how big of a threat do they pose for loss of market share via material or product substitution?
- Q.11 What M & A activities have taken place in the last 5 years in this carbon fiber market?
Table of Contents
1. Executive Summary
2. Market Background and Classifications
- 2.1: Introduction, Background, and Classifications
- 2.2: Supply Chain
- 2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2015 to 2026
- 3.1: Macroeconomic Trends and Forecast
- 3.1.1: Macroeconomic Trends
- 3.1.2: Macroeconomic Forecast
- 3.2: Global Carbon Fiber Market Trends and Forecast
- 3.3: Global Carbon Fiber Market by End Use Industry
- 3.3.1: Aerospace
- 220.127.116.11: Commercial Aerospace
- 18.104.22.168: Regional Jets
- 22.214.171.124: General Aviation
- 126.96.36.199: Helicopters
- 188.8.131.52: Defense
- 184.108.40.206: Space
- 3.3.2: Industrial
- 220.127.116.11: Marine
- 18.104.22.168: Wind Energy
- 22.214.171.124: Transportation/Automotive
- 126.96.36.199: Civil/Construction
- 188.8.131.52: Electrical & Electronics
- 184.108.40.206: Others
- 3.3.3: Sporting Goods
- 220.127.116.11: Golf
- 18.104.22.168: Rackets
- 22.214.171.124: Skis, snowboards, and other winter sports
- 126.96.36.199: Fishing Pole
- 188.8.131.52: Others
- 3.4: Composites in the Global Carbon Fiber Market by Precursor Type
- 3.4.1: Polyacrylonitrile (PAN) Based Carbon Fiber
- 3.4.2: Pitch Based Carbon Fiber Precursor
- 3.5: Composites in the Global Carbon Fiber Market by Tow Size
- 3.5.1: Small tow (≤24k)
- 3.5.2: Large Tow (>24k)
- 3.6: Composites in the Global Carbon Fiber Market by Modulus
- 3.6.1: Standard Modulus
- 3.6.2: Intermediate Modulus
- 3.6.3: High Modulus
4. Market Trends and Forecast Analysis by Region
- 4.1: Global Carbon Fiber Market by Region
- 4.2: North American Carbon Fiber Market
- 4.3: European Carbon Fiber Market
- 4.4: ROW Carbon Fiber Market
5. Competitor Analysis
- 5.1: Market Share Analysis
- 5.2: Operational Integration
- 5.3: Geographical Reach
- 5.4: Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
- 6.1: Growth Opportunity Analysis
- 6.1.1: Growth Opportunities for the Global Carbon Fiber Market by End Use Industry
- 6.1.2: Growth Opportunities for the Global Carbon Fiber Market by Region
- 6.1.3: Growth Opportunities for the Global Carbon Fiber Market by Precursor Type
- 6.2: Emerging Trends in the Global Carbon Fiber Market
- 6.3: Strategic Analysis
- 6.3.1: New Product Development
- 6.3.2: Capacity Expansion of the Global Carbon Fiber Market
- 6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Carbon Fiber Market
- 6.3.4: Certification and Licensing
- 6.3.5: Value Chain Analysis
7. Company Profiles of Leading Players
- 7.1: Toray Industries Inc.
- 7.2: Hexcel Corporation
- 7.3: Mitsubishi Rayon Corporation Limited
- 7.4: Cytec Solvay Group
- 7.5: SGL Carbon Group
- 7.6: Teijin Limited
- 7.7: Formosa Plastics Corporation
- 7.8: DowAksa
- 7.9: Hyosung Corporation
- 7.10: Nippon Graphite Fiber Corporation
- 7.11: Kureha Corporation
- 7.12: Osaka Gas Chemical Corporation Ltd.
- 7.13: Dalian Xingke Carbon Fiber Co.
- 7.14: Jilin Jiyan High-Tech Fibers
- 7.15: Anshan Sinocarb Carbon Fibers Co., Ltd.
- 7.16: Sinosteel Jilin Carbon Co., Ltd.
- 7.17: Weihai Tuozhan Fiber
- 7.18: Zhongheng New Material
- 7.19: Zhongfu Shenying Carbon Fiber Co., Ltd.
- 7.20: Jiangsu Hengshen Fiber Materials Co., Ltd.