Global Carbon Fiber Market Size, Share, Growth Analysis, By Precursor(PAN, Pitch), By Tow(Large Tow, Small Tow), By Application(Aviation, Aerospace & Defense) - Industry Forecast 2024-2031

Report ID: SQMIG15E2145 | Region: Global | Published Date: February, 2024
Pages: 221 | Tables: 92 | Figures: 76

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Carbon Fiber Market size was valued at USD 4.12 billion in 2019 and is poised to grow from USD 4.51 billion in 2023 to USD 9.27 billion by 2031, growing at a CAGR of 9.4% in the forecast period (2024-2031).

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Toray Industries, Inc.', 'Mitsubishi Chemical Holdings Corporation', 'SGL Carbon SE', 'Hexcel Corporation', 'Teijin Limited', 'Hyosung Corporation', 'Formosa Plastics Corporation', 'Cytec Solvay Group', 'Zoltek Companies, Inc.', 'DowAksa', 'Koninklijke Ten Cate B.V.', 'Nippon Graphite Fiber Corporation', 'Toho Tenax Co., Ltd.', 'Carbon Fiber Works', 'Plasan Carbon Composites', 'Cristex Composite Materials', 'Gurit Holding AG', 'Park Electrochemical Corp', 'Solvay SA', 'China Carbon Fiber Ltd.'

Increasing Product Usage in Automotive Sector to Drive Market Growth

Researchers Focus on Converting Coal into Carbon Fiber (CF)

European region is projected to hold the most substantial share in the market. The existence of a diverse range of electric vehicle producers, as well as rising demand for lightweight and fuel-efficient vehicles, are driving regional growth. Rapid growth in the aerospace and military industries is expected to boost regional market growth. Automakers are investing in R&D to develop low-cost carbon composite materials, which are boosting the region's automotive industry.

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Global Carbon Fiber Market Size, Share, Growth Analysis, By Precursor(PAN, Pitch), By Tow(Large Tow, Small Tow), By Application(Aviation, Aerospace & Defense) - Industry Forecast 2024-2031

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