Carbon Fiber Market - Trends Forecast Till 2028

Market Overview

The carbon fiber market was valued at USD 2589.46 million in 2020, and the market is projected to register a CAGR of 5.9% during the forecast period 2021-2028

Carbon fibers are fibers about 5–10 micrometres in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages including high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance and low thermal expansion. These properties have made carbon fiber very popular in aerospace, civil engineering, military, and motorsports, along with other competition sports.

Increasing demand from wind energy and aerospace & defence industries is the factor that has supported long-term expansion for Carbon Fiber Market.

The onset of the global COVID-19 pandemic has disrupted the growth, development, and functioning of most sectors worldwide. The supply chain of most industries has been adversely affected due to the global lockdown, bans, and restrictions on travel and movement across the globe. The changing business environment and geopolitical scenario have caused the carbon fiber market to decline.

Regional Analysis

Europe held the largest market share in the carbon fiber market and is expected to lead the carbon fiber market during the forecast period. Europe is a key carbon fiber market.  The aerospace & defence industry in the region is at the forefront of innovation with the successful launch of Airbus A320 family and Eurofighter. The low interest rate for corporate income tax and growth in the aerospace & defence industry in the region have helped carbon fiber manufacturers to penetrate this industry in the region.

Insights are provided for each region and major countries within the regions

Competitive Landscape

Key Players

• Toray Indusries
• Teijin Limited
• SGL Carbon
• Mitsubishi Chemical Holdings
• Hexcel Corporation
• Solvay

Recent Developments

• In February 2021, Teijin Limited announced its new Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications. Tenax PW is an advanced aircraft-quality material that helps to maximize power and speed thanks to its exceptional durability and toughness.
• In July 2020, Toray Industries, Inc., announced that it had an agreement with Lilium GmbH to supply carbon fiber and composite materials for the Lilium Jet. Lilium is developing all-electric, vertical take-off and landing aircraft to deliver clean, regional air mobility by 2025. Carbon fiber composite materials are vital to lighten such vehicles as the Lilium Jet.

Reasons to Acquire

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for Carbon Fiber Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

Report Scope