Harrisburg, NC -- (SBWIRE) -- 10/30/2020 -- Global Carbon Fiber Market Research Report published by market insight reports explores the current outlook in Global and key regions from the perspective of Major Players, Countries, Product types and end industries. This report analyzes top players in the Global market, and divides the Market into several parameters.

This Carbon Fiber Market research report identifies the competitive landscape of industries to understand the competition at International level. This report study describes the projected growth of the Global market for approaching years from 2019 to 2025. This research report has been aggregated on the basis of static and dynamic aspects of the businesses.

The market for carbon fiber is expected to register a CAGR of around 4% during the forecast period. The major factors driving the growth of the market studied are accelerating usage in the aerospace and defense sector, and the increasing application in the wind energy sector.

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The prominent players in the Global Carbon Fiber Market:

TORAY INDUSTRIES INC., SGL Carbon SE, Mitsubishi Chemical Corporation, TEIJIN LIMITED, and Hexcel Corporation and Others.

Key Market Trends: -

Polyacrylonitrile (PAN) to Dominate the Market

- Polyacrylonitrile is the most versatile precursor for carbon fiber. Also known as Creslan 61, it is a synthetic semi-crystalline polymer resin. Almost 90% of carbon fiber is produced using PAN.
- During the production of carbon fibers, initially the PAN precursor material is spun into a fiber form. It is then stretched and subjected to an oxidizing atmosphere and temperatures of about 200 _ 240 C for approximately 24 hours. The stabilized fibers are then heated in an inert atmosphere up to 1500 C. Then the fibers are heated to 3000 C in an inert environment, leading to graphitization.
- PAN is a thermoplastic resin having an uncharacteristically high melting point. PAN-based carbon fibers have relatively higher coat than pitch-based fibers and have good mechanical properties (high tensile strength). They are preferred in major applications, owing to high carbon yield, the potential of polymer to undergo cyclization reactions, and the lowest fraction of voids, which result in higher strength and stability, along with the flexibility to tailor the structure of the final product.
- PAN is used as a precursor for the production of carbon fiber for aerospace and defense applications and the sporting equipment industry. With the aerospace and defense and sporting equipment industries registering high growth, owing to the increasing adoption of sports and recreational activities and increasing health awareness, which is expected to drive the market for PAN as a raw material in carbon fiber through the forecast period in post COVID-19 recovery times.
- Toray CFE, Merck KGaA, Hexcel Corporation, SABIC, and Teijin Limited are some of the major manufacturers of PAN.

China to Dominate the Asia-Pacific Market

- The IMF projects a growth rate of 1.2%, for China, in 2020 and the country is expected to witness a growth rate of 9.2% in 2021 subject to the post-pandemic global economic recovery.
- China is the largest manufacturer of automobiles in the world. The country's automotive sector has been shaping up for product evolution, with the country focusing on manufacturing products, to ensure fuel economy and minimize emissions, owing to the increasing environmental concerns, due to mounting pollution in the country. However, the market witnessed a shrink from 2018 and 2019, as the production decreased by 4.2% and 7.5% in those years, respectively. The trade war between China and the United States is the major reason for the drop in sales, along with the low domestic demand.
- But the COVID-19 outbreak created a huge uncertainty in the market which is posing a negative trend for both the automotive market and the demand for carbon fiber in automotive applications.
- Moreover, the aircraft parts and assembly manufacturing sector in the country is growing at a rapid pace, with the presence of over 200 small aircraft parts manufacturers. Major manufacturers are concentrated in Nanchang, Shanghai, Chengdu, Xian, Harbin, Shijiazhuang, and Shenyang. The Chinese aerospace policy represents one of the most comprehensive attempts to enter the top levels of aerospace development and production. China is expected to be the world's largest single country market for civil aircraft sales, over the next 20 years. Under the plan, Made in China 2025, China is expected to supply over 10% home-made commercial aircraft to the domestic market by 2025.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Carbon Fiber Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc.
– Historical, current and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Carbon Fiber Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

Browse in-depth and report summary TOC on "Carbon Fiber Market":

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Finally, the Carbon Fiber market report offers a complete and detailed study of Global Carbon Fiber market by using numerous analytical tools and models such as SWOT analysis, investment return analysis, and porter's five forces analysis which are useful for beginners to access the upcoming opportunities. After exploring the market insights through primary and secondary research methodologies, if anything is required except than this, market insight reports will provide customization as per specific demands.

Note: - All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.