Carbon Fiber Market, Covid-19 Outbreak, Form, Composition, Key Players, Segmentation, Regional Analysis and Forecast to 2023

Market Overview

The global carbon fiber market has been segmented on the basis of raw material, form, type, application, and region.

By raw material, the global carbon fiber market has been classified into PAN, pitch, and rayon. Among these, the PAN was the largest and the fastest growing segment in 2017. The segment is expected to maintain its dominance during the review period, owing to the high-performance characteristics offered such as high specific strength and high temperature tolerance, which result in better performance, high yield, and better processing of carbon fiber.

Based on form, the global carbon fiber market has been divided into composite and non-composite. The composite segment held the largest market share in 2017, due to its wide use in the automotive and aerospace & defense industries.

On the basis of type, the global carbon fiber market has been segmented into continuous, long, and short carbon fibers. The long carbon fiber is high in demand in the construction industry. Thus, with the growth of the construction industry, the long carbon fiber segment is expected to witness healthy growth during the review period.

The global market on the basis of application has been divided into automotive, aerospace & defense, wind turbines, sports equipment, molding & compounding, construction, pressure vessels, and others.

Segmental Analysis:

Global Carbon Fiber Market has been segmented on the basis of raw material, form, type, application, and region.

Based on raw material, the global carbon fiber market has been divided into PAN, pitch, and rayon.

By form, the global carbon fiber market has been classified into composite and non-composite.

By type, the global carbon fiber market has been segmented into continuous, long, and short carbon fibers.

Based on application, the global carbon fiber market has been segmented into automotive, aerospace & defense, wind turbines, sports equipment, molding & compounding, construction, pressure vessels, and others.

Regional Analysis

Global carbon fiber market has been spanned across five regions, namely Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. North America held the largest share in the global carbon fiber market in 2017, owing to the abundant use of carbon fiber in the automotive and aerospace & defense industries. Asia-Pacific held the second-largest, but was the fastest growing market for carbon fibers in 2017 and is projected to follow the same trend during the forecast period. The European and Latin American markets are expected to grow at considerable and moderate rates, respectively, during the forecast period. The Middle East & African market is projected to witness sluggish growth during the review period.

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Key Players

Toray Industries, Inc (Japan), Teijin Limited (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Chemical Corporation (Japan), HYOSUNG (South Korea), Cytec Industries Inc. (US), DowAksa (US), OJSC «SvetlogorskKhimvolokno» (Belarus), Taekwang Industrial Co., Ltd (South Korea), Nippon Graphite Fiber Co., Ltd. (Japan), Formosa Plastics Corporation (US), Carbon Mods (US), and Kureha Corporation (Japan) are some of the major players in the global carbon fiber market.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.