The carbon fiber global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Carbon Fiber Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The carbon fiber market size has grown strongly in recent years. It will grow from $4.69 billion in 2023 to $5.13 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to aerospace and defense applications, automotive industry adoption, wind energy sector growth, sports and recreation applications, expanding industrial applications..
The carbon fiber market size is expected to see strong growth in the next few years. It will grow to $7.16 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to continued aerospace and defense demand, increased electric vehicle production, advancements in renewable energy, innovations in sports equipment, infrastructure and construction projects.. Major trends in the forecast period include advancements in recycling technologies, development of high-performance composites, integration in 3d printing processes, rise in electric vehicles adoption, focus on sustainable sourcing and production..
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Scope Of Carbon Fiber Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Carbon Fiber Market Overview
Market Drivers –
The growing automotive industry is expected to propel the growth of the carbon fiber market going forward. The automotive industry is a sector that encompasses numerous organizations and firms involved in the design, development, manufacture, marketing, selling, and maintenance of motor vehicles. Carbon fiber makes lightweight and high-strength vehicle body parts and components in the automotive industry, improving fuel efficiency, performance, and weight reduction in vehicles, particularly vehicles. For example, according to Asia Automotive Analysis, an online publication focusing on Asia’s automotive industry, South Korea’s automobile production in 2022 increased by 8.5% from the previous year to 3,756,491 units. Therefore, the growing automotive industry is driving the carbon fiber market.
Market Trends –
Technological innovations are a key trend gaining popularity in the carbon fiber market going forward. Major companies operating in the carbon fiber market are developing innovative technologies to strengthen their position in the market. For instance, in December 2022, Asahi Kasei Corporation, a Japan-based chemical company, developed a recycling technology for inexpensive, high-quality carbon fiber. This innovative recycling technology aims to implement a recycling system using recycled carbon fiber from automobiles to make new carbon fiber-reinforced plastic (CFRP) or carbon fiber-reinforced thermoplastic (CFRTP) for cars. It has made it possible to produce high-quality, reasonably priced CFRTP using recycled carbon fiber from cars. Additionally, it will reduce vehicle weight and save energy.
The carbon fiber market covered in this report is segmented –
1) By Type: Virgin Fiber (VCF), Recycled Carbon Fiber (RCF)
2) By Raw Material: Polyacrylonitrile (PAN), Petroleum Pitch, Rayon
3) By Tow: Large Tow, Small Tow
4) By Application: Composite Materials, Textiles, Microelectrodes, Catalysis
5) By End-Users: Aerospace And Defense, Automotive, Wind Energy, Pipes And Tanks, Sporting Goods, Other End-Users
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Regional Insights –
Western Europe was the largest region in the carbon fiber market in 2023. The regions covered in the carbon fiber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the carbon fiber market report are Toray Industries Inc., Solvay S.A., Nippon Graphite Fiber Co. Ltd., Teijin Limited, Hexcel Corporation, Hyosung Advanced Materials Corp., Mitsubishi Chemical Carbon Fiber and Composites Inc., Formosa M Co. Ltd., DowAksa, SGL Carbon SE, Zoltek Corporation, Zhongfu Shenying Carbon Co. Ltd., Jiangsu Hengshen Co. Ltd., Jilin Chemical Fiber Group Co. Ltd., BASF SE, Covestro AG, Cytec Solvay Group, Toho Tenax Co. Ltd., Kureha Corporation, Kordsa Teknik Tekstil A.S., AKSA Akrilik Kimya Sanayii A.S., Carbon Conversions Inc., Carbon-Core Corp., Carbon Revolution, Dexcraft, Kamenskvolokno JSC, Rock West Composites, Plasan Carbon Composites, ELG Carbon Fibre, Composites Horizons, Textum Inc., PRF Composite Materials, Fiberex Glass Corporation
Table of Contents
1. Executive Summary
2. Carbon Fiber Market Report Structure
3. Carbon Fiber Market Trends And Strategies
4. Carbon Fiber Market – Macro Economic Scenario
5. Carbon Fiber Market Size And Growth
…..
27. Carbon Fiber Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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