DUBLIN, DUBLIN -- (SBWIRE) -- 03/05/2021 -- Carbon Fiber Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The strong demand for carbon fiber among the automotive, aerospace & defense, and wind energy industries is a key driver contributing to the growth of the global carbon fiber market size. As per the carbon fiber market report, the growing requirement for lightweight vehicles and the rising automotive demand are some other factors surging the growth of the carbon fiber market share in terms of revenue. With the growing environmental concerns, consumers are proactively searching for fuel-efficient vehicles to stick to the government regulations regarding automotive pollution and to reduce the amount of CO2 emission from the vehicles. The rapid growth in the aerospace sector in countries such as Europe and North America is one of the emerging carbon fiber market trends that is fuelling the carbon fiber industry demand.

There has been an upsurge in demand for commercial aviation, particularly in the aerospace sector, due to the rising disposable income and globalization. Consumers are now emphasizing their health and are getting included in various physical and sports activities. This has surged the application of carbon fiber in various sports and leisure equipment to fulfill the increasing demand of the consumers. All these factors will attract a large number of end-users towards the adoption of carbon fiber during the forecast period. The rising propylene production has accelerated the demand for polyacrylonitrile, which is considered an essential raw material for the production of carbon fiber. As per the carbon fiber market research, the increasing number of research and development activities is another factor that will have a positive influence on the market's demand. According to the carbon fiber market outlook, the emergence of the COVID-19 has adversely impacted the demand of the automotive market, thus influencing the demand for the carbon fiber market. However, the market is projected to bounce back in 2021.

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Carbon Fiber Market's leading Manufacturers:

- Hexcel Corporation
- Formosa Plastics Corporation
- TEIJIN Limited
- Hyosung
- Cytec Industries Inc.
- Mitsubishi Rayon Co. Ltd.
- Toray Industries Inc.
- SGL Group
- Solvay
- Jiangsu Hengshen Fibre Materials Co. Ltd.
- Dowaksa

Raw material Segment Drivers

Based on raw material, the pan-based carbon fiber is excepted to lead the market in the coming years due to the rising application of this carbon fiber in several sectors, including wind energy, automotive, aerospace & defense, sports & recreation, and other industries. This growing application is owing to the exceptional features of Pan-based carbon fiber include highly cost-effective, high strength modulus, and generate improved quality of fiber. These factors of pan-based carbon fiber will attract many end-users to opt for pan-Based carbon fiber.

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Carbon Fiber Market Segmentation:

Segmentation by Raw Material:

- PAN–based carbon fiber
- Pitch–based carbon fiber
- Rayon–based carbon fiber

Segmentation by Fiber Type:

- Virgin carbon fiber
- Recycled carbon fiber

Segmentation by Product Type:

- Continuous carbon fiber
- Long carbon fiber
- Short carbon fiber

Segmentation by Modulus:

- Standard modulus
- Intermediate modulus
- High modulus

Segmentation by Application:

- Composite
o Prepreg
o Molding Compound
o Woven Fabric
- Non-composite

Segmentation by End-Use Industry:

- Aerospace & defense

o Commercial Aircraft
o Regional Jets
o General Aviation
o Rotorcraft
o Defense Aircraft
o Others

- Automotive

o Interior Parts
o Exterior Parts

- Wind Energy
- Sporting goods
- Electrical & electronics
- Civil Engineering
- Pipe & Tank
- Marine

o Yachts
o Catamarans
o Racing Boats

- Others

Segmentation by Region:

- North America

o United States of America
o Canada

- Asia Pacific

o China
o Japan
o India
o Rest of APAC

- Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

- RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

Our Other Relevant Reports:

1. Natural Fiber Composites Market

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