Carbon Fiber Market to Gain Traction from Aerospace Industry
Description :
Carbon Fiber Market: Information by Raw
Material (PAN, Pitch, Rayon), Form (Composite, Non-Composite), Type
(Continuous, Long, Short), Application (Automotive, Aerospace & Defense,
Construction, Pressure Vessels), and Region — Forecast till 2030
Keywords:
Carbon Fiber Market industry ,
Carbon Fiber Market , Global Carbon Fiber industry ,
Carbon Fiber Industry value, Carbon Fiber Industry segment
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Report
: https://www.scribd.com/document/557630018/Amyl-Nitrite-Global-Market-Experts-Predict-Decade-long-ImpactOverview:
The global Carbon Fiber Market has enough market provision that can make the market achieve a
CAGR of 10.6% and can attain a
valuation of USD 7.8 billion between 2018 and 2030., which has been considered
by Market Research Future (MRFR) as the forecast period for a better analytical
understanding of the market.
The global market for carbon fiber is banking on
new carbon fiber technology that can bring in innovations. Carbon fiber can be
termed as a polymer that is known as graphite fiber. It is light in weight and
is strong-stronger than steel. Its ability to exhibit high tensile strength,
resistance to chemicals, low thermal expansion, and heat-resistance ability can
promote the demand for the market. These factors can ensure carbon fiber future
in several end user industries. The carbon fiber as raw material is expected to
find growth with the automobile and aerospace industries among many. Its
proliferation into sporting industries and the production of wind turbines can
also ensure better growth.
However, the high cost of carbon fiber can hold
back global market growth. The price of carbon fiber also dwindles a lot, which
can inspire better growth.
Segmental
Analysis:
The global carbon fiber market, as discussed in the
expert report MRFR, includes segments like raw material, form, type, and
application for a proper understanding of the market flow. These segments have
factorial details that command the market and can transform the market growth
pattern for the coming years.
By raw material, the global report on the carbon
fiber market can be segmented into pitch, PAN, and rayon. The PAN segment had
the maximum market coverage in 2017 and it is growing with the fastest CAGR the
would secure more grounds for it in the coming years.
By form, the global report on the carbon fiber market can be segmented into composite and non-composite. The composite
segment, with its percolation into the automobile and aerospace industries, can
ensure better growth for the market. It had the largest market share in
2017.
By type, the report on the global carbon fiber
market can be segmented into long, continuous, and short carbon fibers. The
construction industry is inspiring better growth for the long carbon fibers.
By application, the market study on the global
carbon fiber market can ben segmented into aerospace & defense, pressure
vessels, automotive, sports equipment, wind turbines, construction, molding
& compounding, and others. The burgeoning automotive segment can trigger
growth for the same.
Regional
Analysis:
North America had the largest market share in 2017.
This is primarily due to the growing demand from segments like aerospace,
defense, automobile, and sports. Such a wide range of its application can inspire
significant growth. The product is quite lightweight and can trigger a better
growth rate in the coming years. Especially markets like the US and Canada can
inspire better growth. The Asia Pacific market, as discussed in 2017, would be
the fastest-growing one for the coming years. This would gain much traction
from the automobile and construction segments. The construction sector can
witness a hike in growth due to rising investments from various governments.
Interests for the automobile shown by various market players can influence a better
growth rate for the market. The regional market would be thriving with the
contributions made by India, China, and others. In Europe, the growth would be
more from wind turbines and the robust automobile industry. The regional
government policies are quite stringent and can ensure better market growth. The
market in the Middle East & Africa would find the growth to be sluggish due
to the presence of several poor economies that can distract the market growth
in the coming years.
Market
Players:
Teijin Limited (Japan), Toray Industries, Inc
(Japan), Hexcel Corporation (US), SGL Group (Germany), HYOSUNG (South Korea), Mitsubishi
Chemical Corporation (Japan), DowAksa (US), Cytec Industries Inc. (US), Taekwang
Industrial Co., Ltd (South Korea), Carbon Mods (US), OJSC
«SvetlogorskKhimvolokno» (Belarus), Formosa Plastics Corporation (US), Nippon
Graphite Fiber Co., Ltd. (Japan), and Kureha Corporation (Japan) are top carbon
fiber manufacturers that have been listed by MRFR for a better analytical understanding
of the global market. This analysis would provide a better glimpse of how the
market is expected to launch initiatives for the coming years and what changes
are fast becoming trends, which companies can explore to grow and increase
their market profitability.
In November 2019, Markforged, one of the premium metal
and carbon fiber 3D printers, announced that their new Turbo Print for the X7
3D printer can print faster than any other commercially-available machines
without compromising the quality.
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