Dublin, Dec. 16, 2021 (GLOBE NEWSWIRE) -- The "Global Carbon Fiber Market (2021-2026) by Raw Materials, Fiber Type, Product Type, Modulus, Application, End Users, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Carbon Fiber Market is estimated to be USD 5.3 Bn in 2021 and is expected to reach USD 8.57 Bn by 2026, growing at a CAGR of 10.1%.
Carbon fiber is composed of carbon atoms bonded together to form a long chain that is 5-10 m in diameter. These carbon atoms form a microscopic crystal exhibiting high strength to weight ratio. The rising product usage in the industries such as automotive, wind energy, and aerospace for reducing the weight of the components and parts used in these industries will drive market growth.
The companies operating in the market are investing in the development of coal-based carbon fibers that will create new opportunities for product consumption. In addition, the growing use of 3D Printing in several industries will surge the market demand.
However, some factors such as the relatively high cost of carbon fiber and long production cycle may affect the market growth.
Market Segmentation
- By Raw Materials, the market is classified as PAN-Based Carbon Fiber, Pitch-Based Carbon Fiber, And Rayon-Based Carbon Fiber. Amongst all, PAN-Based Carbon Fiber is expected to hold the highest market share.
- By Fiber Type, the market is classified as Virgin Carbon Fiber and Recycled Carbon Fiber. Amongst the two, the Virgin Carbon Fiber segment is expected to hold the highest market share.
- By Product Type, the market is classified as Continuous Carbon Fiber, Long Carbon Fiber, and Short Carbon Fiber. Amongst all, the Continuous Carbon Fiber segment is expected to hold the highest market share.
- By Modulus, the market is classified as Standard Modulus, Intermediate Modulus, and High Modulus. Amongst all, the High Modulus segment is expected to hold the highest market share.
- By Application, the market is classified as Composite, and Non-Composite. Amongst the two, the Composite segment is expected to hold the highest market share.
- By End Users, the market is classified as Aerospace & Defense, Wind Energy, Automotive, Sporting Goods, Pipe & Tank, Civil Engineering, Electrical & Electronics, Marine, and Others. Amongst all, the Aerospace & Defense segment is expected to hold the highest market share.
- By Geography, Europe is projected to lead the market.
Recent Developments
Zoltek Companies to expand its carbon fiber production facility located at Guadalajara, Mexico. -10th June, 2021
Teijin Limited launched new Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications. -26th February, 2021
Market Influencers
Drivers
- Increasing Use of Composites in Automotive Components
- High Demand for Next-Generation, Single-Aisle Aircraft
- Growing Usage in the Wind Energy Industry
Restraints
- High Cost and Long Production Cycle of Carbon Fiber
Opportunities
- Research and Development of Coal-Based Carbon Fiber
- Rising Demand from Medical Industry
- Increasing Use in 3D Printing
Challenges
- Production of Low-cost Carbon Fiber
Company Profiles
Some of the companies covered in this report are
- Advanced Composites
- Bcircular
- Dalian Xingke Carbon Fiber
- Dowaksa
- ELG Carbon Fiber
- Formosa
- Hexcel
- Hyosung
- Jiangsu Hengshen
- Jilin Qifeng Chemical Fiber
- Kureha
- Mitsubishi Chemical
- Nippon Graphite Fiber
- Ornl
- SGL Group
- Solvay
- Taekwang Industries
- Teijin Limited
- Toray Industries
- Umatex (Alabuga Fiber)
- Weihai Guangwei Composites
- Zhong An Xin Technology
- Zhongfu Shenying Carbon Fiber
- Zoltek Corporation
For more information about this report visit https://www.researchandmarkets.com/r/dkxqmw
