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Carbon Fibers Market Will Reach USD 12.06 Billion, Expanding at a CAGR of 10.6% By 2028 | Reports and Data

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Carbon Fibers Market Will Reach USD 12.06 Billion, Expanding at a CAGR of 10.6% By 2028 | Reports and Data

September 23
19:28 2022
Carbon Fibers Market Will Reach USD 12.06 Billion, Expanding at a CAGR of 10.6% By 2028 | Reports and Data
Carbon Fibers Market
Wide range of application in aerospace and defense, wind energy and automotive industries are driving the demand for the market.

The global Carbon Fibers market is forecast to reach USD 12.06 Billion by 2028, according to a new report by Reports and Data. Carbon Fiber, sometimes known as graphite fiber, is a very strong and lightweight polymer. It is five-times stronger and twice as stiffer than steel. The fiber is lighter than steel, which makes it ideal for manufacturing material for many parts.

The polymer is made of strong, thin crystalline filaments of carbon and is used to strengthen any material. The fiber can be thinner than a strand of human hair, and it gets the strength when twisted together like a yarn. Carbon fibers can be woven together to manufacture cloth and take it can take a permanent shape when laid over a mold and coated in plastic or resin. 

Leading Players– Teijin Limited, Toray Industries Inc., Mitsubishi Rayon Co., Ltd., SGL Group, Formosa Plastics Corporation, Hexcel Corporation, Solvay, Formosa Plastics Corporation, Dowaksa, and Jiangsu Hengshen Co. Ltd., among others.

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Further key findings from the report suggest

  • The recycled carbon fibers is similar to virgin carbon fibers. It is commonly used in automotive and transportation. The superior properties of the polymer, such as flexural strength, high strength-to-weight ratio, tensile strength, and cost-effectiveness, are driving its demand among various end-users.
  • Aircraft manufacturers are taking several initiatives to intensify the standards for environmental management in the discarding of end-of-life aircraft parts. Moreover, Boeing made an agreement with ELG Carbon Fibers to supply its composite scrap to the company.
  • Pitch-based carbon fibers have various end-uses due to their high strength. These polymers are used in the aerospace industry due to their high modulus and high price. These fibers could be used within the sports and automotive industries, but the cheaper PAN-based products provide a high strength for these applications.
  • Carbon fibers consists of fibers, which consist of less than 92% carbon. Some parallel filaments are clubbed together to form a single tow. Fibers having filaments up to 24,000 are known as small tow.
  • Small tow fibers are commonly known used in the aerospace industry due to high tensile strength and modulus when used for manufacturing composites, which are applicable in several end-use. Small-tow fibers are more expensive than large tow-fibers.
  • The market in North America is growing with the increase in research and development in the aerospace and defense sector. High demand for commercial aviation on account of globalization and increased disposable income is driving the market in the region. The surge in demand for sports and leisure applications is also impacting the market.

Key Regional Markets Covered in the Report:

  • North America (U.S.A., Canada, Mexico)
  • Europe (Italy, U.K., Germany, France, Rest of Europe)
  • Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
  • Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Raw Materials Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

  • Pan-Based Carbon Fibers
  • Pitch-Based Carbon Fibers
  • Rayon-Based Carbon Fibers

Fiber Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

  • Virgin Carbon Fibers
  • Recycled Carbon Fibers

Industry Verticals Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

  • Sports/Leisure
  • Automotive
  • Aerospace and Defense
  • Wind Energy
  • Civil Engineering
  • Marine
  • Electrical & Electronics
  • Pipe and Tank
  • Others

Frequently Asked Questions Addressed in the Report:

  • What is the estimated market revenue growth over the forecast period?
  • What are the major factors driving the global Carbon Fibers market revenue growth?
  • Which regional market is expected to account for the largest revenue share in the global Carbon Fibers market over the forecast years?
  • Which are the leading players in the global Carbon Fibers market?
  • What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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About Us:Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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