DALLAS, Oct. 30, 2018 (GLOBE NEWSWIRE) -- According to a new market report published by Lucintel, the future of the carbon fiber market looks attractive with opportunities in the aerospace, industrial, and sporting goods industries. The global carbon fiber market is expected to reach an estimated $3.2 billion by 2023 and is forecast to grow at a CAGR of 5.9% from 2018 to 2023. 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.
Browse 151 market data tables and 130 figures spread through 296 pages and in-depth TOC on “Global Carbon Fiber Market" at https://www.lucintel.com/global-carbon-fiber-market-2018.aspx
In this market, aerospace, industrial and sporting goods are used for carbon fiber manufacturing for end use industry. Lucintel forecasts that aerospace will be the largest end use industry by value and the industrial segment will witness the highest growth by volume 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. Download Free PDF Brochure @ https://www.lucintel.com/global-carbon-fiber-market-2018.aspx#/
North America 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. Pre-Purchase Query click https://www.lucintel.com/global-carbon-fiber-market-2018.aspx#/
Emerging trends, which have a direct impact on the dynamics of the carbon fiber 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 Industries Inc., Mitsubishi Rayon Corporation, Teijin Limited, Hexcel Corporation, SGL Group, and Cytec Solvay Group are among the major suppliers of carbon fiber.
Lucintel, a leading global market research firm has analyzed and forecasted growth opportunities for global carbon fiber market by end use industry, precursor, tow size, and modulus, and region has compiled a comprehensive research report entitled “Growth Opportunities in the Global Carbon Fiber Market 2018-2023: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions.
For a detailed table of contents, contact Lucintel at +1-972-636-5056 or mail at helpdesk@lucintel.com.