Carbon Fiber Market is expected to register a CAGR of 10.6% to reach USD 7.8 billion by 2023.
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The global carbon fiber market has been spanned across five regions: Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
North America accounted for the largest share of the global carbon fiber market in 2017. The growth of the aerospace & defense and automotive industries is expected to be the major factor driving the growth of the regional market for carbon fiber. Carbon fiber-based products are widely used in the industries due to the properties of carbon fiber such as high strength and resistance towards hazardous chemicals.
The Asia-Pacific market held the second-largest share of the global carbon fiber market in 2017. Carbon fiber is extensively used in the manufacturing of automobile parts and the construction industry. The rapid growth of these industries in this region is expected to boost the growth of the regional market. The region is expected to witness lucrative growth during the forecast period.
The European market is expected to witness significant growth during the forecast period. The regional market for carbon fiber is growing due to the excessive use of carbon fiber in the wind turbine and construction industries.
The Latin American market is projected to record moderate growth during the forecast period. The growing environmental concerns and shifting interests towards renewable energy sources is expected to propel the growth of the carbon fiber market in the region.
The Middle East & Africa market for carbon fiber is expected to witness sluggish growth during the review period, due to the abundant use of carbon fiber in construction and 3D printing applications. Carbon fibers comprise properties such as high strength and lightweight, which makes it ideal for these applications. The growth of the construction industry is expected to fuel the growth of the carbon fiber market in the region.
The global carbon fiber market has been segmented on the basis of raw material, form, type, application, and region.
Based on raw material, the global carbon fiber market has been divided into PAN, pitch, and rayon.
By form, the global carbon fiber market has been classified into composite and non-composite.
By type, the global carbon fiber market has been segmented into continuous, long, and short carbon fibers.
On the basis of application, the global carbon fiber market has been segmented into automotive, aerospace & defense, wind turbines, sports equipment, molding & compounding, construction, pressure vessels, and others.
Some of the major market players operating in the global carbon fiber market are Toray Industries, Inc (Japan), Teijin Limited (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Chemical Corporation (Japan), HYOSUNG (South Korea), Cytec Industries Inc. (US), DowAksa (US), OJSC «SvetlogorskKhimvolokno» (Belarus), Taekwang Industrial Co., Ltd (South Korea), Nippon Graphite Fiber Co., Ltd. (Japan), Formosa Plastics Corporation (US), Carbon Mods (US), and Kureha Corporation (Japan).
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TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics of Global Carbon Fiber Market
5 Market Factor Analysis of Global Carbon Fiber Market
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.4 End Users
5.2 Porter’s Five Forces Analysis
5.2.1 Threat of New Entrants
5.2.2 Bargaining Power of Buyers
5.2.3 Bargaining Power of Suppliers
5.2.4 Threat of Substitutes
5.2.5 Intensity of Competitive Rivalry
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