U.S. Markets open in 1 hr 52 mins

Global $7.8 Billion Carbon Fiber Market Forecast to 2029 - Potential Opportunities in New Applications Such as Geo-Polymer and Medical Composites

DUBLIN, Oct. 4, 2019 /PRNewswire/ -- The "Carbon Fiber Market by Raw Material (PAN, Pitch, Rayon), Fiber Type (Virgin, Recycled), Product Type, Modulus, Application (Composite, Non-composite), End-use Industry (A & D, Automotive, Wind Energy), and Region - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

Research and Markets Logo

The carbon fiber market size is estimated to be USD 4.7 billion in 2019 and is projected to reach USD 7.8 billion by 2024, at a CAGR of 10.6%.

The carbon fiber market is growing due to its increasing demand from aerospace & defense, automotive, and wind energy industries. Carbon fibers are lightweight and have excellent strength, low specific gravity, excellent modulus of elasticity, high corrosion resistance, and high moldability.

New product launches leading to an increased application scope of carbon fiber as well as the growing usage of these products across various end-use industries, including wind energy, aerospace & defense, automotive, and marine are expected to augment the market growth. However, the high manufacturing cost of carbon fiber is the major factor restraining the growth of the market.

Carbon fiber is a long, thin strand of material made from carbon. The carbon content is more than 90% for standard modulus carbon and almost 100% for high modulus carbon fiber. Carbon fiber is produced by baking precursors such as PAN, pitch, rayon, or other organic fiber in an inert atmosphere to dissociate elements other than carbon.

Carbon fiber was first discovered in the 1970s when extensive research was happening to find alternative material for metals. Initially, carbon fibers were not widely accepted due to its limited compression strength and high price. However, today, a lot of developments have been made on carbon fiber, and its use is extensive in various end-use industries such as aerospace & defense, automotive, wind energy, and others.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Consolidation of Aircraft Manufacturers and High Demand ForNext-Generation, Single-Aisle Aircrafts Adoption of New Technologies & Agreements Among Players in the Automotive Industry Increasing Usage of Carbon Fiber in the Wind Energy Industry New Product Launches Such as Mining Truck Trays and Corrosive Chemical Tank Containers
5.2.2 Restraints High Cost of Carbon Fiber
5.2.3 Opportunities Development of Low-Cost Manufacturing Process Such as Plasma Oxidation Technology Potential Opportunities in New Applications Such as Geo-Polymer and Medical Composites Growing Demand From Emerging Markets Increasing Use of Carbon Fiber in 3d Printing
5.2.4 Challenges Production of Low-Cost Carbon Fiber
5.3 Porter's Five Forces Analysis
5.4 Raw Material Analysis
5.5 Cost Structure Analysis

6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends in Aerospace Industry
6.4 Trends in Automotive Industry
6.5 Trends in Wind Energy Industry

7 Carbon Fiber Market, By Raw Material
7.1 Introduction
7.2 Pan-Based Carbon Fiber
7.2.1 The Properties Such as High Tensile Strength and Elastic Modulus are Spurring the Demand for Pan-Based Carbon Fiber
7.3 Pan-Based Carbon Fiber, By Fiber Size
7.3.1 Small Tow (<_4k__br />7.3.2 Large Tow (>24k) Small Tow Carbon Fiber Will Dominate the Market Due to Its Superior Properties
7.4 Pitch-Based Carbon Fiber
7.4.1 High Thermal and Electrical Conductivity is Driving the Demand for Pitch-Based Carbon Fiber
7.5 Rayon-Based Carbon Fiber
7.5.1 The Demand for Rayon-Based Carbon Fiber is Increasing Due to Its Rising Applications in the Aerospace & Defense Industry

8 Carbon Fiber Market, By Fiber Type
8.1 Introduction
8.2 Virgin Carbon Fiber
8.2.1 The Demand for Virgin Carbon Fiber is Increasing Due to Its Easy Handling During the Manufacturing Process and Excellent Mechanical Properties
8.3 Recycled Carbon Fiber
8.3.1 Low Ghg Emissions and Low Cost are Driving the Recycled Carbon Fiber Market

9 Carbon Fiber Market, By Product Type
9.1 Introduction
9.2 Continuous Carbon Fiber
9.2.1 The Demand for Continuous Carbon Fiber is Increasing Due to Its High Tensile Strength Property
9.3 Long Carbon Fiber
9.3.1 Long Carbon Fiber Offers an Array of Advantages, Including High Performance at Low as Well as Elevated Temperatures
9.4 Short Carbon Fiber
9.4.1 Short Carbon Fiber is Ideal for Both Low and High-Temperature Applications

10 Carbon Fiber Market, By Modulus
10.1 Introduction
10.2 Standard Modulus
10.2.1 New and Redefined Standard Modulus Will Drive the Demand for Carbon Fiber
10.3 Intermediate Modulus
10.3.1 Increasing Use of these Carbon Fibers in High-Pressure Storage Tanks Will Drive the Market
10.4 High Modulus
10.4.1 New Aircraft Manufacturing Projects and Launch of New Aircrafts By Comac and Irkut is Expected to Increase the Demand for Carbon Fiber

11 Carbon Fiber Market, By Application
11.1 Introduction
11.2 Composite
11.2.1 Prepreg
11.2.2 Molding Compound
11.2.3 Woven Fabric
11.3 Non-Composite
11.3.1 The Market in This Segment is Expected to Grow During the Forecast Period

12 Carbon Fiber Market, By End-Use Industry
12.1 Introduction
12.2 Aerospace & Defense
12.2.1 Commercial Aircraft
12.2.2 Regional Jets
12.2.3 General Aviation
12.2.4 Rotorcraft
12.2.5 Defense Aircraft
12.2.6 Others
12.3 Wind Energy
12.3.1 Rising Number of Offshore Wind Turbine Installations in Europe and China Will Drive the Market
12.4 Automotive
12.4.1 Interior Parts
12.4.2 Exterior Parts Increasing Use of Carbon Fiber in Electric Cars and Joint Ventures to Produce Low-Cost Carbon Fibers for Vehicles Will Drive the Market
12.5 Sporting Goods
12.5.1 There is High Demand for Carbon Fibers in New Applications Such as Sports Footwear
12.6 Pipe & Tank
12.6.1 Rising Demand for Carbon Fiber Based Type Iii and Type Iv Cng Cylinders Will Positively Influence the Market
12.7 Civil Engineering
12.7.1 Carbon Fiber Market Will Be Driven By their Increasing Use in Reinforced Concrete
12.8 Electrical & Electronics
12.8.1 Carbon Fiber Demand is Driven By Its Superior Mechanical Properties
12.9 Marine
12.9.1 Yachts
12.9.2 Catamarans
12.9.3 Racing Boats Rising Demand for Carbon Fiber From Racing Boats Will Drive the Market
12.10 Other End-Use Industries
12.10.1 Medical
12.10.2 Oil & Gas
12.10.3 3-D Printing
12.10.4 High Speed & Metro Train
12.10.5 Hydrogen Gas Storage
12.10.6 Electrode for Batteries
12.10.7 Catalysis

13 Carbon Fiber Market, By Region

Company Profiles

  • Toray Industries Inc.
  • Teijin Limited
  • SGL Group
  • Mitsubishi Rayon Co., Ltd.
  • Hexcel Corporation
  • Formosa Plastics Corporation
  • Solvay
  • Jiangsu Hengshen Co. Ltd.
  • Dowaksa
  • Hyosung

Other Key Players

  • Zhongfu Shenying Carbon Fiber Co. Ltd.
  • Weihai Guangwei Composites Co. Ltd.
  • Umatex (Alabuga Fiber)
  • Taekwang Industries Co. Ltd.
  • Jilin Qifeng Chemical Fiber Co., Ltd.
  • ELG Carbon Fibre
  • Dalian Xingke Carbon Fibre Co. Ltd.
  • Nippon Graphite Fiber Corporation
  • Kureha
  • Zhong an Xin Technology Co., Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/90mq59

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Laura Wood, Senior Manager

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716


View original content:http://www.prnewswire.com/news-releases/global-7-8-billion-carbon-fiber-market-forecast-to-2029---potential-opportunities-in-new-applications-such-as-geo-polymer-and-medical-composites-300931306.html