Adroit Market Research issued a study on the “Global Carbon Fiber Market Size 2017 by Type (Regular Tow, Large Tow), by Application (Automotive, Aerospace & defense, Wind Turbines, Sports Equipment, Industrial Materials and Others), By Region and Forecast 2018 to 2025”. The global carbon fiber market growth is a cumulative outcome of numerous qualitative insights including drivers, restrains, value chain, PESTEL analysis and Porter’s Five Forces analysis. The global carbon fiber industry report also covers an in-depth analysis of carbon fiber composite market.
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Global carbon fiber market size is set to grow at USD 7.27 billion by 2025 and projected to expand with a CAGR of 10.6% over the forecast period. Carbon fiber is an advanced composite material that exhibits properties such as high strength to weight ratio and high corrosion resistance among others that makes it an ideal choice for usage across several industries. Growing usage of carbon fiber composites across aerospace, automotive and wind turbines along with decline in price of the material is expected to propel the carbon fiber industry growth in the coming years.
Carbon fiber composites provide the aircraft structure with the required strength along with significant reduction in its weight. Aircraft parts such as main wings, tail units, ailerons, rudders, floor panel and lavatory units are some of the components carbon fiber is used in. With time, usage of carbon fiber material has significantly increased in aerospace industry. For instance, around 50% of Boeing’s 787 Dreamliner’s structure, which was introduced in 2011 is made up of carbon fiber reinforced polymers as compared with 10% usage in its predecessor Boeing 777, launched in 1995. Overall, aerospace & defense industry is estimated to continue its dominance with share of 27.2% in 2025 in global carbon fiber market size.
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Carbon fiber market analysis, on the basis of type of design, is done by categorizing carbon fiber products into regular and large tow. Carbon fibers tow lesser than 24k, are known as regular or small tow whereas tow count higher than 24k are known as large tow carbon fibers. Regular tow carbon fibers possess superior properties such as lighter weight and high tensile strength owing to which they are used in niche applications such as aerospace & wind turbines. However, large tow carbon fiber is also witnessing incremental demand owing to its suitability for automotive industry.
Carbon fiber composite market has witnessed significant growth in demand across the globe. However, consumption is still dominated by the developed regions such as Europe and North America. Europe alone accounted for 40.5% of revenue share in 2017. Europe followed by North America is anticipated to dominate the global carbon fiber market size. In developing regions, China recorded significant growth in carbon fiber composites market owing to increasing investments in wind energy sector. India & Southeast Asia have significant potential in long term prospects of carbon fiber industry growth.
Leading players have global presence and maintain steep entry barriers for challengers through economies of scale and proprietary production processes. Owing to rapid growth in demand for carbon fiber, players are focused on expanding their manufacturing base in order to strengthen their customer base. Carbon fiber market share by company puts Toray Industries Inc. at the leading position globally in 2017. Chief challengers are Teijin Limited, Mitsubishi Rayon Co. Ltd., SGL Carbon, Formosa Plastics Corp, Hexcel Corporation, DowAksa, and Cytec Industries (Cytec Solvay Group) that account for notable market share, thus boosting the carbon fiber industry growth.
Key segments of the global carbon fiber market
Type Overview, 2013-2025 (Tons) (USD Million)
- Regular Tow
- Large Tow
Application Overview, 2013-2025 (Tons) (USD Million)
- Aerospace & Defence
- Wind Turbines
- Sports Equipment
- Industrial Materials
Regional Overview, 2013-2025 (Tons) (USD Million)
- North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Rest of MEA
Some Points from TOC:
- Executive Summary
- Research Methodology
- Market Outlook
- Carbon Fiber Market Overview, by Type
- Carbon Fiber Market Overview, by Application
- Carbon Fiber Market Overview, by Region
- Industry Structure
- Company Profiles
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Adroit Market Research is an India-based business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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