About Carbon Fiber
Carbon fibers (CF), also known as graphite fiber are fibers with diameter of about 5–10 micrometers, and commonly composed of carbon atoms. These carbon fibers are widely used attributed to several advantages such as low weight, high stiffness, high tensile strength, high temperature tolerance, high chemical resistance, as well as low thermal expansion. Carbon fiber are highly used in aerospace, civil engineering, military, as well as motorsports, along with other competition sports. Various types such as continuous carbon fiber, long carbon fiber, as well as short carbon fiber are widely used among various end use industries.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
The competitive landscape of the HPF market is expected to remain dynamic in the coming years. Companies that can successfully navigate these trends and develop innovative, sustainable HPF solutions are likely to gain a competitive edge in this growing market. Analyst at AMA Research estimates that Japanese, German, Chinese, and United States Vendors will contribute the maximum growth to Global Carbon Fiber market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Hexcel Corporation (United States), Mitsubishi Rayon Co. Ltd. (Japan), Teijin Limited (Japan), Hyosung (South Korea), Toray Industries Inc. (Japan), SGL Group (Germany), Holding Company Composite (Russia), BASF SE (Germany), Formosa Plastics Corporation (Taiwan) and Weihai Guangwei Composites Co., Ltd (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Taekwang Industries Co Ltd. (South Korea), DowAksa (Turkey) and Jiangsu Hengshen Co., Ltd.(China).
Segmentation Overview
AMA Research has segmented the market of Global Carbon Fiber market by Type (Continuous Carbon Fiber, Long Carbon Fiber and Short Carbon Fiber) and Region.
On the basis of geography, the market of Carbon Fiber has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Raw Material , the sub-segment i.e. PAN-Based Carbon Fiber will boost the Carbon Fiber market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Composite will boost the Carbon Fiber market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Use Industry, the sub-segment i.e. Aerospace & Defense will boost the Carbon Fiber market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rise of Carbon Fiber 3D Printers
Market Growth Drivers:
Growing Usage of Carbon Fiber for Structural Composite Parts Manufacturing, Used in Aircraft, Growing Demand for Fuel Efficient Vehicles and High demand from Wind Energy Industry
Challenges:
Low Cost Carbon Fiber Production for Large Volume Applications
Restraints:
High Cost of Carbon Fiber
Opportunities:
Increasing demand from FCEVs
Market Leaders and their expansionary development strategies
In January 2019, Hexcel Corporation has announced that the company completed the acquisition of ARC Technologies a supplier of custom RF / EMI & microwave absorbing composite materials for military, aerospace & industrial applications. This acquisition strengthens Hexcel’s existing advanced materials portfolio in structural composites & thermoplastics as well as provides new opportunities for growth & market penetration. As per the company, this transaction is expected to be accretive to Hexcel’s earnings in 2019.
In July 2022, Hexcel announced that it has signed a long-term agreement with Dassault to supply carbon fiber prepreg for the Falcon 10X program. This is the first Dassault business jet program to incorporate high-performance advanced carbon fiber composites in the manufacture of its aircraft wings.
Key Target Audience
Carbon Fiber Manufacturers, Raw Material Suppliers, Carbon Fiber Distributors & Suppliers, Sporting Equipment Manufacturers, Aerospace Industry, Automobile and Transportation Industry, Government and Research Organizations, Industry Associations and Other End Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.