The global carbon fiber market is expected to cross USD 6.36 billion by 2025. The carbon fiber industry witnessed growth trends in the carbon fiber, composite markets possessed identical features, and the significance was higher in terms of volume in 2016. Rise in end-user applications coupled with diversified uses of carbon fibers in various domains added to the market growth then. The growth trends exhibited positive traction owing to rising CAGR on yearly basis.
At present, the carbon fiber market is driven by rising demand for carbon fiber from the automotive and aerospace industries and lightweight vehicles. In addition, the augmented demand for fuel-efficient vehicles coupled with stringent regulations by the government about vehicle pollution is expected to drive market growth. The carbon fiber industry is expected to gain a positive traction in the forthcoming period due to the mass production of electronic items, automotive applications in cars, and the rise in industrial use.
The carbon fiber market is segmented by raw materials, inclusive of PAN-based and Pitch-based. PAN-based carbon fibers accounted for a higher CAGR in the forecast period owing to wider use in numerous applications. By tow size, the market segmentation includes small tow and large tow. Small tow carbon fibers are widely used for numerous applications owing to their versatile features.
By Application, the carbon fiber industry is segmented as sports equipment, aerospace & defense, molding & compounding, automotive, construction, and pressure vessels. Aerospace & defense account for a significant CAGR in the forthcoming period due to extensive use of carbon fibers in production and assembling.
Geographical segmentation for the carbon fiber market includes North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa. North America is expected to rise at a higher CAGR in the forthcoming period owing to the presence of aircraft makers for commercial and defense purposes. An increase in automobile production emphasizing high-performance cars is expected to drive the regional market. Europe is anticipated to be a large and rapidly growing market owing to stringent regulations emphasizing environmental pollution. The key players in the carbon fiber industry include BASF SE, Teijin Limited, Hexcel Corporation, SGL Group, and Mitsubishi Rayon Co Ltd.
Carbon Fiber Raw Material Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• PAN Based
• Pitch Based
Carbon Fiber Tow Size Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Small Tow
• Large Tow
Carbon Fiber Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Aerospace & Defense
• Wind Turbines
• Sports equipment
• Molding & Compounding
• Pressure vessels
Carbon Fiber Regional Outlook (Tons, USD Million, 2014 - 2025)
• North America
• the U.S.
• the UK
• the Asia Pacific
• Central & South America (CSA)
• Middle East & Africa (MEA)
Research Support Specialist, USA
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