Abstract
Summary
The global carbon fiber market was valued at $5.5 billion in 2022, and is projected to reach $16.0 billion by 2032, growing at a CAGR of 11.4% from 2023 to 2032.
Carbon fibers possess characteristics such as lightweight, high tensile strength, high elastic modulus, thermal & electrical conductivity, low coefficient of thermal expansion (CTE), temperature tolerance, and fire retardancy. These properties make them ideal for various applications across aerospace & defense, sports, wind turbines, molding & compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., misc. consumer, sailing/yacht, and other industries (misc. energy, oil & gas, medical, and industrial rollers). Detailed description of various raw materials, such as polyacrylonitrile (PAN), petroleum & coal pitch, and rayon used to produce carbon fiber is included in the report. In addition, types such as continuous, long, and short carbon fibers with composite and non-composite forms are also included.
Carbon fiber possess favorable properties such as high tensile strength and greater design flexibility, which make it a preferred solution for manufacturers involved in manufacturing automotive components, such as door module, chassis, bumper beams, hoods, wheels, front gearings, and engines. These automotive components are used by original equipment manufacturers (OEMs), which thereby create high demand in the aftermarket. Use of carbon fibers results in higher weight saving and improves the fuel efficiency of vehicles.
The U.S. Department of Energy (DOE) announced an investment of $19.7 million for the Vehicle Technologies Office to support R&D of advanced vehicle technologies, including batteries and lightweight & low-cost carbon fiber for the development of energy-efficient automobiles. Increased demand for eco-friendly and low volatile organic compounds (VOCs) products in vehicles enhances the need for carbon fiber products in the automotive industry. It is mandatory for vehicle manufacturers to reduce the emission and use of toxic coatings, which are expected to be overcome by use of carbon fiber products. These factors are anticipated to drive the carbon fibers market during the forecast period.
The leading raw material suppliers prefer supplying carbon fiber to these due to the stable and long-term scheduled projects. The use of carbon fiber products in the automotive industry is restricted due to its high cost. Only premium vehicle manufacturers such as Lamborghini, BMW, and Mercedes utilize carbon fiber components, which leads to uncertainty in supply of carbon fiber in this industry. The continued unavailability of carbon fiber is thus anticipated to hamper market growth during the forecast period.
Carbon fiber-reinforced polymer (polyetheretherketone [CFR-PEEK]) implants deliver numerous advantages over traditional metal implants made of stainless steel and titanium alloys. The radiolucent property and lower modulus of elasticity of carbon fiber materials make them ideal for use in the medical industry. The radiolucent property offers efficient artifact-free radiographic imaging and lower modulus of elasticity, which matches well with bone. CFR-PEEK has superior fatigue strength as compared to most metal implants. The elasticity modulus of CFR-PEEK is 3.5 GPA, and it offers high bending strength. Growth in usage of carbon fiber products in implants, spine surgery, orthopedic trauma, high tibial osteotomy, and musculoskeletal oncology is expected to create new avenues for the carbon fiber market in the medical industry.
The carbon fiber market is segmented on the basis of raw material, type, form, end-use industry, and region. On the basis of raw material, the market is bifurcated into PAN-based carbon fiber, and pitch-based & rayon-based carbon fiber. On the basis of type, it is categorized into continuous, long, and short carbon fibers. On the basis of form the market is bifurcated into composite and non-composite carbon fibers.
On the basis of end-use industry, the market is fragmented into aerospace & defense, sports/leisure, wind turbines, molding & compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., misc. consumer, sailing/yacht building, and others. On the basis of region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the global carbon fiber market DowAksa Advanced Composites Holding B.V, Formosa Europe, Solvay, TORAY INDUSTRIES, INC., Nippon Steel Corporation, Mitsubishi Chemical Group Corporation, SGL Carbon, Hyosung Co Public, Teijin Limited, and ZOLTEK. In addition, the market drivers, restraints, and opportunities are explained in the report.
Key Benefits For Stakeholders
●This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the carbon fiber market analysis from 2022 to 2032 to identify the prevailing carbon fiber market opportunities.
●The market research is offered along with information related to key drivers, restraints, and opportunities.
●Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
●In-depth analysis of the carbon fiber market segmentation assists to determine the prevailing market opportunities.
●Major countries in each region are mapped according to their revenue contribution to the global market.
●Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
●The report includes the analysis of the regional as well as global carbon fiber market trends, key players, market segments, application areas, and market growth strategies.
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● Manufacturing Capacity
● Consumer Buying Behavior Analysis
● End user preferences and pain points
● Industry life cycle assessment, by region
● Investment Opportunities
● Technology Trend Analysis
● Consumer Preference and Product Specifications
● New Product Development/ Product Matrix of Key Players
● Regulatory Guidelines
● Average Selling Price Analysis / Price Point Analysis
● Per Capita Consumption Trends
● Product Consumption Analysis
● Volume Market Size and Forecast
Key Market Segments
By Type
● Continuous carbon fiber
● Long carbon fiber
● Short carbon fiber
By Raw Material
● PAN-Based carbon fiber
● Pitch-Based and Rayon-Based carbon fiber
By Form
● Composite carbon fiber
● Non-Composite carbon fiber
By End Use Industry
● Aerospace amd Dfense
● Sports/Leisure
● Wind Turbines
● Molding and Compounds
● Automotive
● Pressure Vessels
● Civil Engineering
● Marine
● Pultrusion Misc.
● Misc. Consumer
● Sailing/Yacht Building
● Others
By Region
● North America
○ U.S.
○ Canada
○ Mexico
● Europe
○ Germany
○ UK
○ France
○ Italy
○ Spain
○ Rest of Europe
● Asia-Pacific
○ China
○ Japan
○ India
○ South Korea
○ Australia
○ Rest of Asia-Pacific
● LAMEA
○ Brazil
○ Saudi Arabia
○ South Africa
○ Rest of LAMEA
● Key Market Players
○ TEIJIN LIMITED.
○ Formosa Europe
○ Mitsubishi Chemical Group Corporation
○ TORAY INDUSTRIES, INC.
○ Nippon Steel Corporation
○ SGL Carbon
○ ZOLTEK
○ Solvay
○ DowAksa
Table of Contents
1 INTRODUCTION
1.1 Report description
1.2 Key market segments
1.3 Key benefits to the stakeholders
1.4 Research Methodology
1.4.1 Primary research
1.4.2 Secondary research
1.4.3 Analyst tools and models
2 EXECUTIVE SUMMARY
2.1 CXO Perspective
3 MARKET OVERVIEW
3.1 Market definition and scope
3.2 Key findings
3.2.1 Top impacting factors
3.2.2 Top investment pockets
3.3 Porter’s five forces analysis
3.3.1 High bargaining power of suppliers
3.3.2 High threat of new entrants
3.3.3 High threat of substitutes
3.3.4 High intensity of rivalry
3.3.5 High bargaining power of buyers
3.4 Market dynamics
3.4.1 Drivers
- 3.4.1.1 Increase in penetration of carbon fiber components in automotive industry
- 3.4.1.2 Government regulations for emission control
3.4.2 Restraints
- 3.4.2.1 Long production cycle and unavailability of carbon fibers
3.4.3 Opportunities
- 3.4.3.1 Rise in use of carbon fiber in medical industry
3.5 COVID-19 Impact Analysis on the market
3.6 Value Chain Analysis
3.7 Pricing Analysis
3.8 Key Regulation Analysis
3.9 Patent Landscape
3.10 Regulatory Guidelines
4 CARBON FIBER MARKET, BY TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Continuous carbon fiber
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3 Long carbon fiber
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4 Short carbon fiber
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
5 CARBON FIBER MARKET, BY RAW MATERIAL
5.1 Overview
5.1.1 Market size and forecast
5.2 PAN-Based carbon fiber
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3 Pitch-Based and Rayon-Based carbon fiber
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
6 CARBON FIBER MARKET, BY FORM
6.1 Overview
6.1.1 Market size and forecast
6.2 Composite carbon fiber
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market share analysis by country
6.3 Non-Composite carbon fiber
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market share analysis by country
7 CARBON FIBER MARKET, BY END USE INDUSTRY
7.1 Overview
7.1.1 Market size and forecast
7.2 Aerospace amd Dfense
7.2.1 Key market trends, growth factors and opportunities
7.2.2 Market size and forecast, by region
7.2.3 Market share analysis by country
7.3 Sports/Leisure
7.3.1 Key market trends, growth factors and opportunities
7.3.2 Market size and forecast, by region
7.3.3 Market share analysis by country
7.4 Wind Turbines
7.4.1 Key market trends, growth factors and opportunities
7.4.2 Market size and forecast, by region
7.4.3 Market share analysis by country
7.5 Molding and Compounds
7.5.1 Key market trends, growth factors and opportunities
7.5.2 Market size and forecast, by region
7.5.3 Market share analysis by country
7.6 Automotive
7.6.1 Key market trends, growth factors and opportunities
7.6.2 Market size and forecast, by region
7.6.3 Market share analysis by country
7.7 Pressure Vessels
7.7.1 Key market trends, growth factors and opportunities
7.7.2 Market size and forecast, by region
7.7.3 Market share analysis by country
7.8 Civil Engineering
7.8.1 Key market trends, growth factors and opportunities
7.8.2 Market size and forecast, by region
7.8.3 Market share analysis by country
7.9 Marine
7.9.1 Key market trends, growth factors and opportunities
7.9.2 Market size and forecast, by region
7.9.3 Market share analysis by country
7.10 Pultrusion Misc
7.10.1 Key market trends, growth factors and opportunities
7.10.2 Market size and forecast, by region
7.10.3 Market share analysis by country
7.11 Misc. Consumer
7.11.1 Key market trends, growth factors and opportunities
7.11.2 Market size and forecast, by region
7.11.3 Market share analysis by country
7.12 Sailing/Yacht Building
7.12.1 Key market trends, growth factors and opportunities
7.12.2 Market size and forecast, by region
7.12.3 Market share analysis by country
7.13 Others
7.13.1 Key market trends, growth factors and opportunities
7.13.2 Market size and forecast, by region
7.13.3 Market share analysis by country
8 CARBON FIBER MARKET, BY REGION
8.1 Overview
8.1.1 Market size and forecast By Region
8.2 North America
8.2.1 Key trends and opportunities
8.2.2 Market size and forecast, by Type
8.2.3 Market size and forecast, by Raw Material
8.2.4 Market size and forecast, by Form
8.2.5 Market size and forecast, by End Use Industry
8.2.6 Market size and forecast, by country
- 8.2.6.1 U.S
- 8.2.6.1.1 Key market trends, growth factors and opportunities
- 8.2.6.1.2 Market size and forecast, by Type
- 8.2.6.1.3 Market size and forecast, by Raw Material
- 8.2.6.1.4 Market size and forecast, by Form
- 8.2.6.1.5 Market size and forecast, by End Use Industry
- 8.2.6.2 Canada
- 8.2.6.2.1 Key market trends, growth factors and opportunities
- 8.2.6.2.2 Market size and forecast, by Type
- 8.2.6.2.3 Market size and forecast, by Raw Material
- 8.2.6.2.4 Market size and forecast, by Form
- 8.2.6.2.5 Market size and forecast, by End Use Industry
- 8.2.6.3 Mexico
- 8.2.6.3.1 Key market trends, growth factors and opportunities
- 8.2.6.3.2 Market size and forecast, by Type
- 8.2.6.3.3 Market size and forecast, by Raw Material
- 8.2.6.3.4 Market size and forecast, by Form
- 8.2.6.3.5 Market size and forecast, by End Use Industry
- 8.2.6.1 U.S
8.3 Europe
8.3.1 Key trends and opportunities
8.3.2 Market size and forecast, by Type
8.3.3 Market size and forecast, by Raw Material
8.3.4 Market size and forecast, by Form
8.3.5 Market size and forecast, by End Use Industry
8.3.6 Market size and forecast, by country
- 8.3.6.1 Germany
- 8.3.6.1.1 Key market trends, growth factors and opportunities
- 8.3.6.1.2 Market size and forecast, by Type
- 8.3.6.1.3 Market size and forecast, by Raw Material
- 8.3.6.1.4 Market size and forecast, by Form
- 8.3.6.1.5 Market size and forecast, by End Use Industry
- 8.3.6.2 UK
- 8.3.6.2.1 Key market trends, growth factors and opportunities
- 8.3.6.2.2 Market size and forecast, by Type
- 8.3.6.2.3 Market size and forecast, by Raw Material
- 8.3.6.2.4 Market size and forecast, by Form
- 8.3.6.2.5 Market size and forecast, by End Use Industry
- 8.3.6.3 France
- 8.3.6.3.1 Key market trends, growth factors and opportunities
- 8.3.6.3.2 Market size and forecast, by Type
- 8.3.6.3.3 Market size and forecast, by Raw Material
- 8.3.6.3.4 Market size and forecast, by Form
- 8.3.6.3.5 Market size and forecast, by End Use Industry
- 8.3.6.4 Italy
- 8.3.6.4.1 Key market trends, growth factors and opportunities
- 8.3.6.4.2 Market size and forecast, by Type
- 8.3.6.4.3 Market size and forecast, by Raw Material
- 8.3.6.4.4 Market size and forecast, by Form
- 8.3.6.4.5 Market size and forecast, by End Use Industry
- 8.3.6.5 Spain
- 8.3.6.5.1 Key market trends, growth factors and opportunities
- 8.3.6.5.2 Market size and forecast, by Type
- 8.3.6.5.3 Market size and forecast, by Raw Material
- 8.3.6.5.4 Market size and forecast, by Form
- 8.3.6.5.5 Market size and forecast, by End Use Industry
- 8.3.6.6 Rest of Europe
- 8.3.6.6.1 Key market trends, growth factors and opportunities
- 8.3.6.6.2 Market size and forecast, by Type
- 8.3.6.6.3 Market size and forecast, by Raw Material
- 8.3.6.6.4 Market size and forecast, by Form
- 8.3.6.6.5 Market size and forecast, by End Use Industry
- 8.3.6.1 Germany
8.4 Asia-Pacific
8.4.1 Key trends and opportunities
8.4.2 Market size and forecast, by Type
8.4.3 Market size and forecast, by Raw Material
8.4.4 Market size and forecast, by Form
8.4.5 Market size and forecast, by End Use Industry
8.4.6 Market size and forecast, by country
- 8.4.6.1 China
- 8.4.6.1.1 Key market trends, growth factors and opportunities
- 8.4.6.1.2 Market size and forecast, by Type
- 8.4.6.1.3 Market size and forecast, by Raw Material
- 8.4.6.1.4 Market size and forecast, by Form
- 8.4.6.1.5 Market size and forecast, by End Use Industry
- 8.4.6.2 Japan
- 8.4.6.2.1 Key market trends, growth factors and opportunities
- 8.4.6.2.2 Market size and forecast, by Type
- 8.4.6.2.3 Market size and forecast, by Raw Material
- 8.4.6.2.4 Market size and forecast, by Form
- 8.4.6.2.5 Market size and forecast, by End Use Industry
- 8.4.6.3 India
- 8.4.6.3.1 Key market trends, growth factors and opportunities
- 8.4.6.3.2 Market size and forecast, by Type
- 8.4.6.3.3 Market size and forecast, by Raw Material
- 8.4.6.3.4 Market size and forecast, by Form
- 8.4.6.3.5 Market size and forecast, by End Use Industry
- 8.4.6.4 South Korea
- 8.4.6.4.1 Key market trends, growth factors and opportunities
- 8.4.6.4.2 Market size and forecast, by Type
- 8.4.6.4.3 Market size and forecast, by Raw Material
- 8.4.6.4.4 Market size and forecast, by Form
- 8.4.6.4.5 Market size and forecast, by End Use Industry
- 8.4.6.5 Australia
- 8.4.6.5.1 Key market trends, growth factors and opportunities
- 8.4.6.5.2 Market size and forecast, by Type
- 8.4.6.5.3 Market size and forecast, by Raw Material
- 8.4.6.5.4 Market size and forecast, by Form
- 8.4.6.5.5 Market size and forecast, by End Use Industry
- 8.4.6.6 Rest of Asia-Pacific
- 8.4.6.6.1 Key market trends, growth factors and opportunities
- 8.4.6.6.2 Market size and forecast, by Type
- 8.4.6.6.3 Market size and forecast, by Raw Material
- 8.4.6.6.4 Market size and forecast, by Form
- 8.4.6.6.5 Market size and forecast, by End Use Industry
- 8.4.6.1 China
8.5 LAMEA
8.5.1 Key trends and opportunities
8.5.2 Market size and forecast, by Type
8.5.3 Market size and forecast, by Raw Material
8.5.4 Market size and forecast, by Form
8.5.5 Market size and forecast, by End Use Industry
8.5.6 Market size and forecast, by country
- 8.5.6.1 Brazil
- 8.5.6.1.1 Key market trends, growth factors and opportunities
- 8.5.6.1.2 Market size and forecast, by Type
- 8.5.6.1.3 Market size and forecast, by Raw Material
- 8.5.6.1.4 Market size and forecast, by Form
- 8.5.6.1.5 Market size and forecast, by End Use Industry
- 8.5.6.2 Saudi Arabia
- 8.5.6.2.1 Key market trends, growth factors and opportunities
- 8.5.6.2.2 Market size and forecast, by Type
- 8.5.6.2.3 Market size and forecast, by Raw Material
- 8.5.6.2.4 Market size and forecast, by Form
- 8.5.6.2.5 Market size and forecast, by End Use Industry
- 8.5.6.3 South Africa
- 8.5.6.3.1 Key market trends, growth factors and opportunities
- 8.5.6.3.2 Market size and forecast, by Type
- 8.5.6.3.3 Market size and forecast, by Raw Material
- 8.5.6.3.4 Market size and forecast, by Form
- 8.5.6.3.5 Market size and forecast, by End Use Industry
- 8.5.6.4 Rest of LAMEA
- 8.5.6.4.1 Key market trends, growth factors and opportunities
- 8.5.6.4.2 Market size and forecast, by Type
- 8.5.6.4.3 Market size and forecast, by Raw Material
- 8.5.6.4.4 Market size and forecast, by Form
- 8.5.6.4.5 Market size and forecast, by End Use Industry
- 8.5.6.1 Brazil
9 COMPETITIVE LANDSCAPE
9.1 Introduction
9.2 Top winning strategies
9.3 Product Mapping of Top 10 Player
9.4 Competitive Dashboard
9.5 Competitive Heatmap
9.6 Top player positioning, 2022
10 COMPANY PROFILES
10.1 DowAksa
10.1.1 Company overview
10.1.2 Key Executives
10.1.3 Company snapshot
10.1.4 Operating business segments
10.1.5 Product portfolio
10.2 Formosa Europe
10.2.1 Company overview
10.2.2 Key Executives
10.2.3 Company snapshot
10.2.4 Operating business segments
10.2.5 Product portfolio
10.3 Solvay
10.3.1 Company overview
10.3.2 Key Executives
10.3.3 Company snapshot
10.3.4 Operating business segments
10.3.5 Product portfolio
10.3.6 Business performance
10.4 TORAY INDUSTRIES, INC
10.4.1 Company overview
10.4.2 Key Executives
10.4.3 Company snapshot
10.4.4 Operating business segments
10.4.5 Product portfolio
10.4.6 Business performance
10.5 Nippon Steel Corporation
10.5.1 Company overview
10.5.2 Key Executives
10.5.3 Company snapshot
10.5.4 Operating business segments
10.5.5 Product portfolio
10.5.6 Business performance
10.6 Mitsubishi Chemical Group Corporation
10.6.1 Company overview
10.6.2 Key Executives
10.6.3 Company snapshot
10.6.4 Operating business segments
10.6.5 Product portfolio
10.6.6 Business performance
10.7 SGL Carbon
10.7.1 Company overview
10.7.2 Key Executives
10.7.3 Company snapshot
10.7.4 Operating business segments
10.7.5 Product portfolio
10.7.6 Business performance
10.8 TEIJIN LIMITED
10.8.1 Company overview
10.8.2 Key Executives
10.8.3 Company snapshot
10.8.4 Operating business segments
10.8.5 Product portfolio
10.8.6 Business performance
10.9 ZOLTEK
10.9.1 Company overview
10.9.2 Key Executives
10.9.3 Company snapshot
10.9.4 Operating business segments
10.9.5 Product portfolio