London, May 29, 2023 (GLOBE NEWSWIRE) -- Garnering the status of an ideal building material, carbon fiber is best known as a light polymer that serves as a strong and stiff high-performance structural material. Increasing preference for carbon fibers for their desirable performance has been broadening the application base in areas like supercars, aircrafts, yachts, and leisure and sporting goods. This is expected to drive the growth of the global carbon fiber market, says a new report of Fairfield Market Research. The report states that polyacrylonitrile will remain the most favored precursor in the carbon fiber market space and goes into nearly 90% of the overall carbon fiber production as a key raw material.
“PAN will continue to be the most popular choice of precursor among manufacturers operating in the carbon fiber space,” says an analyst at Fairfield Market Research.
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Insights into Segmentation Analysis
With mounting demand for lightweight materials from automotive, and aerospace industries, carbon fiber is likely to experience an upswing through the years to come. While the largest application segment currently is the wind turbine blades, both onshore and offshore, it is more likely that the exponential increase in offshore wind power installations over the recent past has played an instrumental role in raising the demand for carbon fiber that possesses the most desirable attributes like higher stiffness, and lower density ideal for having lightweight, slender, and stiffer blade profiles. The wind energy sector is thus expected to be a significant market segment.
Automotive industry also represents an important application category, says the report. Growing end user perception about carbon fiber-based composites as a potential material substitute to conventional automotive plastics and metals is projected to elevate the application scope further.
Insights into Regional Analysis
The carbon fiber manufacturing base is currently concentrated in the U.S., China, Japan, South Korea, and major European countries, i.e., the UK, and Germany. Initial market analysis reveals that the developed western regions, North America, and Europe, spearhead the carbon fiber market and collectively account for over 60% share of the overall market revenue. The demand has grown exponentially across the automotive and aerospace industries, which will continue to solidify the presence of these regions in the global carbon fiber industry. The strongest market foothold is also attributed to stringent regulatory structure related to fuel efficiency, and carbon emissions.
On the other hand, China has been identified as the most lucrative pocket for carbon fiber manufacturers and the Chinese market will most likely exhibit a strong, double-digit pace of growth during the period of assessment. The country has been the world leader in power generation and eyes 400GW wind power capacity by 2030-end. The governments here have also been supportive of carbon fiber production to be potentially used in automobiles, wind turbine blades, and industrial machinery, which will also contribute toward China’s growing strength in the carbon fiber market.
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Leading Companies in Global Carbon Fiber Space
SGL Carbon, Toray, Hexcel, Teijin, and Mitsubishi Chemical are some of the most prominent names in the worldwide carbon fiber industry. The report would shed light on the detailed strategic profiling and competitive analysis of the profiled players spearheading the competition landscape of the carbon fiber market.
Key Elements Included In The Study: Global Carbon Fiber Market
- Carbon Fiber Market by Product/Technology/Grade, Application/End-user, and Region
- Executive Summary (Opportunity Analysis and Key Trends)
- Historical Market Size and Estimates, Value and Volume, 2018 - 2022
- Volume Consumption at Regional and Country Level, 2023 - 2030
- Market Dynamics and Economic Overview
- Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
- Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies
- Regional and Product/Grade/Application/End-user Price Trends Analysis
- Production Output Analysis (Major Producing Regions)
- Key Trade Statistics (Import and Export)
- Value Chain and Five Force’s Analysis
- Regional/Sub-region/Country Market Size and Trend Analysis
- Company Market Share Analysis and Key Player Profiles
Learn More About the Report Inclusions, and Research Methodology: https://www.fairfieldmarketresearch.com/report/carbon-fiber-market/more-information
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Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.
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