Lucintel Blog: Lucintel Forecasts Global Carbon Fiber Market to Reach $4.3 Billion by 2028

Friday, October 27, 2023

Lucintel Forecasts Global Carbon Fiber Market to Reach $4.3 Billion by 2028

According to the recent study the carbon fiber market is projected to reach an estimated $4.3 billion by 2028 from $2.9 billion in 2022, at a CAGR of 6.8% from 2022 to 2028. Growth in this market is primarily driven by growing demand for high performance and lightweight composite materials and increasing performance requirements in the end uses.

Browse 119 figures/charts and 113 tables in this 306-page report to understand trends, opportunities and forecast in carbon fiber market by end use (aerospace, industrial, and sporting goods), precursor type (PAN based and Pitch based), tow size (small tow (<=24k) and large tow(>24k)), modulus (standard modulus, intermediate modulus, and high modulus), and region (North America, Europe, and the Rest of the World).

Download sample report and view detailed Table of Content by clicking on below link: https://www.lucintel.com/carbon-fiber-market.aspx

“Pan based market is expected to remain the largest segment during the forecast period.”

Based on precursor type, the carbon fiber market is segmented into pan and pitch. Lucintel forecasts that the pan market is expected to remain the largest segment end use industry and it is also expected to witness the highest growth due to its wide application area in transportation, aerospace/defense, and wind energy industries.

“Within the carbon fiber market, the industrial segment is expected to remain the largest end use industry.”

Based on end use industry, the industrial segment is expected to witness the highest growth over the forecast period due to 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.

“North America will dominate the carbon fiber market in near future.”

North America is expected to remain the largest market and it is also expected to witness the highest growth over the forecast period due to demand from the industries of aerospace, automotive, and wind energy.

Download Brochure of this report by clicking on https://www.lucintel.com/carbon-fiber-market.aspx.

Major players of carbon fiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Toray Industries Inc., Hexcel Corporation, Mitsubishi Chemical Corporation, Solvay, SGL Carbon Group, Teijin Limited, Formosa Plastics Corporation, DowAksa, Hyosung Corporation, Nippon Graphite Fiber Corporation, Kureha Corporation. are among the major carbon fiber providers.

This unique 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 click on this link https://www.lucintel.com/carbon-fiber-market.aspx or helpdesk@lucintel.com.

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Contact:
Roy Almaguer

Director of Client Engagements

Lucintel

Dallas, Texas, USA

Cell: 210-878-7693

roy.almaguer@lucintel.com

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