Carbon Fiber Market by Applications over 2018-2024

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Carbon Fiber Market to Witness A Phenomenal
Growth over 2018 to 2024
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Global Market Scenario of Carbon Fiber Industry

• One of the important sector that will propel the
  demand for the product is the automotive
  industry. With growing safety concern, customers
  are now shifting towards strong automobile bodies
  from conventional metal bodies. Enhancing living
  standards of the people in the developed nations
  will drive the demand for sophisticated sports as
  well as luxury cars. This will drive the Carbon
  Fiber Market substantially.
• The Carbon Fiber Market demand rose steadily
  after the general economic recession in 2009. The
  market is forecast to grow at substantial rate
  from 2016 to 2024. This growth is accounted for
  the upcoming developments in the fields of
  aerospace defense, sporting goods, wind energy,
  automobiles and even in the market of civil
  engineering and electronics goods.
• Aerospace defense industry is a major driver
  for growth in the carbon fiber market. It
  accounted for approximately a third of the total
  product market interms of demand and about half
  of the total market revenue. The revenue in the
  aerospace and defense industry is forecast to
  grow till 2024 with increasing air travel in
  China, Middle East and other emerging nations.
• Sports and leisure equipment is finding increased
  use of carbon fiber and is the second largest
  market in terms of revenue. With growing
  awareness about healthy lifestyles and
  exercising, the demand for sports utilities will
  have a healthy growth in the next 8 years. The
  growing market for light bodied combat aircrafts
  by the military will propel the industry in the
  upcoming years.

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• Product Analysis-
• Based on the type of industry, carbon fiber finds
  major use in aerospace defense industry, wind
  energy sector, sports equipment industry,
  automotive industry and others. Aerospace
  industry is the primary end user, of which
  commercial aerospace sector has the major market
  share in terms of volume as well as revenue.
• The wind energy segment has a lot of promise for
  the market growth owing to increase in global
  renewable energy demand. Light weight and strong
  gym equipment and other luxury items will enhance
  the global demand for carbon fiber by 2024. With
  the focus of leading automobile manufacturers
  shifting towards weight reduction of the cars,
  carbon fiber reinforced plastics will find an
  increasing demand in the forecast period.
• Regional Trends-
• The most demanding region for the industry is
  North America with an annual production capacity
  recorded more than third of the global carbon
  fiber market. With more research and development
  in the aerospace and defense sector in the US,
  this demand is forecast to grow in the span from
  2016 to 2024.
• The second largest producer is Europe with its
  commercial as well as military aircraft
  manufacturing units. The large number of high end
  automotive industries in Germany and Italy will
  also influence the carbon fiber market
  positively.

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Market Research Reports Key Analytical Components
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• Competitive Trends
• The leading manufacturer of carbon fiber in terms
  of production in 2013 was Toray Industries and
  recorded over 20 thousand tons of production
  capacity. Other companies providing competition
  in this sector are Zoltek, Toho Tenax, Mitsubishi
  Rayon Co. Ltd., SGL Carbon SE, Formosa Plastics
  Corp, Hexcel Corporation and others.

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