Global Carbon Fiber Market Driven by Rising Set of Applications in End-use Industries

ALBANY, New York, August 30, 2016 /PRNewswire/ --

MRRSE has released a new market report titled "Carbon Fiber Market (PAN-based, Pitch-based and Others) for Wind Energy, Automotive, Aerospace and Defense, Sports, Construction and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020". According to a market research report available on Market Research Reports Search Engine (MRRSE), the global carbon fiber market had a valuation of US$1.9 bn in 2013. Poised to expand at a 9.9% CAGR between 2014 and 2020, the market is expected to reach US$3.7 bn by 2020.

The report states that rapid development in the market for retail sporting products is a key factor propelling the global carbon fiber market. Over the report's forecast period, applications in the global wind energy and the aerospace market are also expected to lead to an increased demand for carbon fiber. Some of the key challenges for the market, which may hamper the growth of the market to a certain extent, are the complexity associated with the recycling of carbon fiber components and the high cost of carbon fiber.

The report presents an analysis of the market on three fronts: products, key regional markets, and end users. On the basis of products, the market is segmented into PAN-based carbon fiber, pitch-based carbon fiber, and other products such as rayon-based carbon fiber.

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The global carbon fiber market is mainly analyzed on three fronts: products, end users, and regions. On the basis of products, the worldwide carbon fiber market is segmented into the markets for pitch-based carbon fiber, PAN-based carbon fiber, and others such rayon-based carbon fiber.

The automotive industry, wind energy industry, aerospace and defense sector, construction sector, sports industry, and other markets such as the marine industry are the main end users of carbon fiber. Regionally, the global carbon fiber market is spread across North America, Asia Pacific, Europe, and the Rest of the World.

This research report on the global carbon fiber market has been prepared with an objective to provide market participants a comprehensive overview of the global carbon fiber market. It gives established players as well as new market entrants access to an executive-level blueprint of the market. Information included in the report aims to help them make rewarding strategies for business expansion.

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Growing demand from end-user industries such as wind energy, aerospace and defense and automotive is projected to drive the carbon fiber market in Europe in the future. Asia Pacific is expected to be the fastest growing regional market in the global carbon fiber market in the next few years. Rising demand for carbon fiber and their composites from emerging countries in Asia such as India and China is expected to drive the carbon fiber market in Asia Pacific in the next few years. The carbon fiber market in North America is anticipated to witness decent growth in the next six years owing to the strong recovery of the U.S. economy. Furthermore, the carbon fiber market in the RoW region is expected to record significant growth in the next few years, due to rising demand for carbon fiber from Latin America and the Middle East.

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The carbon fiber market in North America is anticipated to witness decent growth in the next six years owing to the strong recovery of the U.S. economy. Furthermore, the carbon fiber market in the RoW region is expected to record significant growth in the next few years, due to rising demand for carbon fiber from Latin America and the Middle East.

Increasing demand for carbon fiber from rapidly growing end-user industries such as wind energy, aerospace and defense and sporting goods is expected to drive the global carbon fiber market in the next few years. Furthermore, rising demand for lightweight and durable carbon fiber components in the end-user industries such as automotive and construction industries is predicted to act as a lucrative opportunity for the carbon fiber market in the next few years. However, higher price and recycling issues of carbon fiber may hamper the growth of the carbon fiber market in the next six years. Major manufacturers of carbon fiber include Toray Industries, Teijin Ltd, Hexcel Corporation, Cytec Industries, Mitsubishi Rayon Co., Ltd. and others. 

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