Carbon Fiber Market by Raw Material (PAN-based carbon fiber, Pitch-based & Rayon-based carbon fiber), Type (Continuous, Long, and Short), Form (Composite and Non-composite) and End-Use Industry (Aerospace & Defense, Sports/Leisure, Wind Turbines, Molding & Compounds, Automotive, Pressure Vessels, Civil Engineering, Marine, Pultrusion Misc., Sailing/Yacht, Building, and Others) - Global Opportunity Analysis and Industry Forecast, 2020-2030

Carbon Fiber Market will be held at  USD 5.203 billion in 2020 and is to grow with a CAGR of 10.70% from 2020-2030. Carbon fiber is made up of carbon atoms which are bounded together to make a long chain. The fibers are highly rigid, lightweight and solid in nature. Carbon fiber is used to make superior building materials in many processes. Carbon fiber material comes in various of "raw" building blocks, including uni-directional, yarns,  braids, weaves and many others, which are used to create composite pieces of carbon fiber. Carbon fiber consists of carbon atoms bound together to form a long chain that has a diameter of 5-10 m. These carbon atoms form a microscopic crystal that exhibits a high ratio of strength to weight.

Market Dynamics and Factors:

Growing demand from the automotive and aerospace industries for this product is likely to boost demand for this drug, thus boosting the global carbon fiber market. Rising demand for automobiles coupled with increased need for lightweight vehicles is expected to fuel the global carbon fiber market over the forecast period. The rising  demand for fuel-efficient vehicles is anticipated to play a key role during the forecast period along with government regulations regarding automotive emissions. Exceptional mechanical and physical properties such as tensile strength, impact resistance and lightweight in nature  make them fuel efficient and durable for use in aerospace & defense, sports, wind turbines, automotive and among others. Owing to growing demand and use of renewable energy, wind turbines are the most lucrative technology for the carbon fiber market.

Market Segmentation:

Based on the raw material, the global carbon fiber market is segmented into PAN-based carbon fiber, pitch-based & rayon-based carbon fiber. Depending upon the basis of type the market is classified into continuous, long, and short. Considering the form, the global carbon fiber market is bifurcated into composite and non-composite. On the basis of end use, the market is segmented into aerospace & defense, sports/leisure, wind turbines, molding & compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., sailing/yacht building, and others. Regional segmentation of global carbon fiber market includes North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Europe has a massive share for carbon fiber market. Due to the high demand for products with chemical and corrosion resistance, excellent strength and lightweight properties the global carbon fiber market is experiencing the growth. The region's economy is powered by the involvement of the region's major aircraft producers, electric car producers, and offshore wind farms. The country is progressing at a fast pace in the aerospace & defense industry with the successful introduction of the Airbus A320 airplanes and Eurofighter. Europe is home to some of the leading automakers like Fiat, BMW and Bentley. Such vehicle makers use composites of carbon fiber in various structural automotive parts such as bonnets, bumpers, and frontends, hence are one of the key factor in the growth of global carbon fiber market. Offshore wind energy facilities are numerous, particularly in the UK and Germany are also to be considered as one of the main factor boosting the global carbon fiber market.

Competitive Scenario:

The key players of global carbon fiber market are Mitsubishi Chemical Holdings Corporation, Nippon Steel,  Zoltek Companies, Inc., Sumitomo Metal Corporation, Holding B.V., Hexcel Corporation, SGL Carbon SE, Solvay SA,  Teijin Limited (Teijin), OJSC SvetlogorskKhimvolokno, Toray Industries Inc., Hyosung Corporation.,  Formosa Plastics, Toho Tenax Co.,  DowAksa Advanced Composites Crosby Composites, Plasan Carbon Composites, GKN.TenCate, AKSA, Gurit and Mitsubishi Plastics

Carbon Fiber Market Report Scope