According to
a new market report published by Lucintel, the future of the carbon fiber market
looks attractive with opportunities in the aerospace, industrial, and sporting
goods industries. The global carbon fiber market is expected to reach an
estimated $3.2 billion by 2023 and is forecast to grow at a CAGR of 5.9% from
2018 to 2023. The major drivers
for market growth are growing demand for high performance and lightweight
composite materials and increasing performance requirements in the end use
industries.
In this market, aerospace, industrial, and sporting goods
are the major end use industries. Lucintel
forecasts that aerospace will be the largest end use industry by value and the industrial
segment will witness the highest growth by volume during the forecast period. Increasing
demand for high performance lightweight materials in the automotive industry
and growing demand for carbon composites in wind turbine with the increasing length
of wind blades are driving market growth over the forecast period.
Based on the
type of precursor, the carbon fiber market can be segmented into two types: Polyacrylonitrile-based
(PAN-based) and pitch-based. PAN-based carbon fiber usage is higher by value
and volume because it is lower in cost than pitch-based.
By tow size,
large tow (greater than 24k) is expected to remain the largest segment by
volume and witness the highest growth over the forecast period because of its price
performance-trade off, which leads to higher use in the industrial
applications. By modulus, standard modulus is expected to remain the largest
segment by volume over the forecast period.
North America
is expected to remain the largest market and witness the highest growth over
the forecast period due to demand from the
industries of aerospace, automotive, and wind energy.
Emerging trends, which have a direct impact
on the dynamics of the industry, include the emergence of new applications and initiatives
to innovate and commercialize the use of alternative precursors to reduce the
manufacturing costs of carbon fiber.
Some of the major companies in the global carbon fiber market
are Toray Industries Inc., Mitsubishi Rayon Corporation, Teijin Limited, Hexcel
Corporation, SGL Group, and Cytec Solvay Group.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
global carbon fiber market by end
use industry, precursor type, tow size, modulus, and region. Lucintel
has prepared a comprehensive research report entitled “Growth
Opportunities in the Global Carbon Fiber Market 2018-2023: Trends, Forecast,
and Opportunity Analysis.” The
Lucintel report serves as a catalyst for growth strategy as it provides
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the global carbon as follows:
By End Use
Industry [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- Aerospace
-
Commercial
- Defense
- Regional
Jets
-
Helicopter
- General
Aviation
-
Space
- Industrial
- Transportation/Automotive
-
Wind Energy
- Electrical
and Electronics (E&E)
-
Civil/Construction
- Marine
-
Others
- Sporting
Goods
-
Golf
- Fishing
Pole
- Racket
-
Skis, Snowboards and Other Winter Games
- Others
By Precursor
Type [Volume (M lbs) and $M shipment analysis for 2012 – 2023]:
- PAN Based Carbon Fiber
- Pitch Based Carbon Fiber
By Tow Size
[Volume (M lbs) shipment analysis for 2012 – 2023]:
- Small Tow (≤24k)
- Large Tow(<24k)
By Modulus [Volume
(M lbs) shipment analysis for 2012 – 2023]:
- Standard
- Intermediate
- High
By Region [Volume (M lbs) and $M shipment
analysis for 2012 – 2023]:
·
North America
·
Europe
·
The Rest of the World (including Asia
Pacific)
This
296-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or helpdesk@lucintel.com. Lucintel offerings include Advanced Materials Reports, Composite Materials Market Report, Opportunity Screening and Analysis, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision-makers in a variety of industries. For
further information, visit www.lucintel.com.
This
report answers following 11 key questions:
Q.1 What are some of the most promising
potential, high-growth opportunities for the global carbon fiber market by end
use industry (aerospace, industrial and sporting goods), by precursor type, by
tow size, by modulus and region (North America, Europe, and the Rest of the
World (including Asia Pacific))?
Q.2 Which segments will grow at a faster pace
and why?
Q.3 Which regions will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to
the market?
Q.6 What are emerging trends in this market
and the reasons behind them?
Q.7 What are some changing demands of
customers in the market?
Q.8 What are the new developments in the
market? Which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being implemented by key players for business
growth?
Q.10 What are some of the competitive products
and processes in this area and how big of a threat do they pose for loss of
market share via material or product substitution?
Q.11 What M & A activities have taken
place in the last 5 years in this market?
