Global Carbon Fiber Market to Reach $8 Billion by 2026 - Growing Demand From Aerospace & Automotive Industries - Research and Markets

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Dec 21, 2016, 02:10 ET

DUBLIN, Dec 21, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Carbon Fiber Market - Global Forecast to 2026" report to their offering.

The global carbon fiber market is projected to reach USD 8.00 Billion by 2026, at a CAGR of 10.8%, from 2016 to 2026.

Carbon fiber offers excellent strength, is light weight, has low specific gravity, excellent modulus of elasticity, high corrosion resistance, and high moldability, among others. Thus, the use of carbon fiber based composites is increasing in various end-use industries such as, aerospace & defense, automotive, wind energy, and others. The growing need for light weight & strong alternative materials in the aerospace & automotive industries is one of the major drivers for the carbon fiber market.

The global carbon fiber market is segmented into, end-user industry type, product type, raw material type, form, and region. The aerospace & defense end-use application has been estimated to have the largest market share in terms of value & volume in 2016. This is due to the established and proven applications of carbon fiber based composite parts in aircraft applications. The automobile market is projected to grow at a higher rate due to the acceptance of carbon fiber based composites in sports and luxury cars.

The carbon fiber market, by raw material is segmented into, pan-based, pitch-based, and rayon-based carbon fiber. Pan-based carbon fiber holds the largest market share both, in terms of value & volume, due to its high yield and better processing properties. Carbon fibers are used in composite and non-composite forms in various applications. The composite segment led the global carbon fiber market by form in 2016.

North America is projected to be the largest and the fastest-growing region in the carbon fiber market during the forecast period. This is due to the presence of large aircraft manufacturing & defense companies in the region. The high prices of carbon fiber and insufficient production capacities are restraining market growth.

The high price of carbon fiber is acting as a major restraint in its usage in the automotive end-user industry. It is presently used in racing cars and some high-end sports cars. If the cost of carbon fiber lowers, it will be used on a much larger scale in automobiles.

Companies Mentioned:

Bluestar Fibers Company Ltd
Carbon Mods
Cytec Industries Inc.
Dowaksa
Formosa Plastic Corporation
Hexcel Corporation
Hyosung
Kemrock Industries and Exports Limited
Mitsubishi Rayon Co., Ltd.
Nippon Graphite Fiber Corporation
OJSC Svetlogorskkhimvolokno
SGL Group
Taekwang Industries Co Ltd.
Tejin Limited
Toray Industries Inc.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Macro Economic Overview and Key Trends

7 Carbon Fiber Market, by Raw Material

8 Carbon Fiber Market, by Product Type

9 Carbon Fiber Market, by Form

10 Carbon Fiber Market, by End-Use Industry

11 Regional Analysis

12 Competitive Landscape

13 Company Profiles

For more information about this report visit http://www.researchandmarkets.com/research/px5sz7/carbon_fiber

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SOURCE Research and Markets