Global Carbon Fiber Market By Geography
The Global Carbon Fiber market is segmented by geography into North America, Europe, Asia- pacific and LAMEA.
Europe held the largest market share in 2022, strict laws and regulations aimed at decreasing environmental pollution, as well as ongoing initiatives in the European region, are likely to propel the market expansion.
With the successful introduction of the Airbus A320 series and the Eurofighter, the aerospace and defense sector in the region is at the forefront of innovation. Carbon fiber manufacturers have been able to enter this market in the region due to the low corporate income tax interest rate and expansion of the aerospace and defense industries in the area.
Automotive OEMs must adhere to strict guidelines set forth by the European Union Automotive Fuel Economy (UNEP) standard to reduce carbon emissions by adopting lightweight materials. Additionally, the EU decided to reduce vehicle CO2 emissions by 37.5% by 2030. As a result, the region now uses a lot of carbon fiber in electric vehicles. Offshore wind energy plants are widely spread, particularly in the UK and Germany.
Competition Scenario In Global Carbon Fiber Market
The Global Carbon Fiber Market is highly competitive with ~250 players which include globally diversified players, regional players, and country-niche players with their niche in the Carbon Fiber market.
County-niche players constitute ~45% of the total competitors, while the regional players are the second largest by type. Some of the major players in the market include Toray Industries, Inc., Sgl Carbon, Teijin Limited., Mitsubishi Chemical Carbon Fiber and Composites, Inc., Hexcel Corporation, Solvay, Hyosung Advanced Materials., Formosa Plastics Corporation, BASF SE, DowAksa and among others.
What Is The Expected Future Outlook For The Overall Global Carbon Fiber Market Across The Globe?
The Global Carbon Fiber market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Carbon Fiber market is driven by the rising adoption of Carbon Fibers in various sectors like automobile, building, aerospace sectors and various other sectors. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
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With the increasing acquisition and emergence of new products, the Global Carbon Fiber market is changing rapidly. For instance, In February 2021, Teijin Limited unveiled two new brands of carbon fiber intermediate materials for sporting purposes, Tenax PW (power series) and Tenax BM (beam series). Tenax PW is a cutting-edge material of aircraft quality that, because of its excellent toughness and longevity, aids in maximizing power and speed.
In July 2020, Toray Industries, Inc. declared that it secured a contract with Lilium GmbH to provide carbon fiber and composite materials for the Lilium Jet. For clean, regional air mobility by 2025, Lilium is creating all-electric, vertical takeoff and landing aircraft. To make cars like the Lilium Jet lighter, carbon fiber composite materials are essential.
Furthermore, In January 2020, Mitsubishi Chemical Corporation bought c-m-p GmbH, a German carbon fiber prepreg maker, through its subsidiary, Mitsubishi Chemical Advanced Material, to strengthen its position in the carbon fiber and composite material markets.
The Global Carbon Fiber Market is forecasted to continue the growth that is witnessed since 2017, the market is probably being driven by rising demand from the aerospace and automotive industries. Over the forecast period, increased demand for automobiles is anticipated to cause an increase in the need for lightweight vehicles. During the projected period, it is anticipated that the demand for fuel-efficient automobiles and governmental restrictions on automotive emissions would be crucial factors. Though the market is highly competitive with ~250 players, few global players control the dominant market share and regional players also hold a significant market share.
Key Topics Covered in the Report
- Snapshot of the Global Carbon Fiber Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Carbon Fiber Market
- Historic Growth of the Overall Global Carbon Fiber Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Carbon Fiber Industry
- Overview, Type Offerings, and Strengths & Weaknesses of Key Competitors
- COVID-19 Impact on the Overall Global Carbon Fiber Market
- Future Market Forecast and Growth Rates of the Total Global Carbon Fiber Market and by Segments
- Market Size of Tow Size Segments with Historical CAGR and Future Forecasts
- Analysis of Global Carbon Fibers in Major Regions
- Major Type/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Players Mentioned in the Report
- Toray Industries, Inc.
- Sgl Carbon
- Teijin Limited.
- Mitsubishi Chemical Carbon Fiber and Composites, Inc.
- Hexcel Corporation
- Hyosung Advanced Materials.
- Formosa Plastics Corporation
- BASF SE
Notable Emerging Companies Mentioned in the Report
- Nippon Graphite Fiber Co.
- ZOLTEK Corporation
- Gen 2 Carbon Limited
- Carbon Fibre Tubes Ltd.
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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Carbon Fiber Companies
- Carbon Fiber Association
- Research & Development Institutes for Carbon Fiber
- Carbon Fiber Manufactures
- Carbon Fiber Supplier
- Carbon Fiber Raw Material Provider
- Investment Banks Targeting Carbon Fiber Market
- Fiber Composites Companies
- Fiber Composites Providers
- Fiber Composites Manufacturers
- Fiber Composites Suppliers
- Emerging and Startup Composites Companies in the Market
- Government Departments of Polymers and Other Chemicals
- Ministries and Departments of Paint & Coating
- Ministries and Departments of Construction Materials
- Importers and Distributors of Plastics and Composites
- Chemicals Testing and Regulatory Authorities
- Chemicals Research Institutes
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