Industry Outlook and Trend Analysis
The Carbon Fiber Market was worth USD 2.09 billion in 2014 and is expected to reach approximately USD 5.26 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 10.83% during the forecast period. Expanding demand for this product from aerospace and automotive businesses is probably going to drive the product request. Expanding automotive demand combined with rising requirement for lightweight vehicles is foreseen to fuel the request over the figure time frame. Requirement for fuel-effective vehicles alongside government controls with respect to automotive contamination are expected to play a significant part amid the conjecture time frame.
Raw Material Outlook and Trend Analysis
The essential raw materials in carbon fiber fabricating are polyacrylonitrile (PAN) or pitch. The better properties of PAN are normal than result in more extensive acknowledgment in different applications. The worldwide PAN market is slated to develop at a significant CGAR over the forecast period. Expanding interest for higher quality to weight proportion carbon fiber, PAN antecedent is generally used by virtue of its unrivalled material properties.
Size Outlook and Trend Analysis
Carbon fiber comprises of filaments which contain < 92% carbon. Some parallel fibers are assembled together to frame a solitary tow. Strands having fibers up to 24,000 are alluded to as small tow. Small tow fibers are generally useful in the avionic business attributable to high rigidity and high modulus when used for manufacturing composites, which are used as a part of various applications. Small-tow fibers costlier when contrasted with substantial tow fibers.
Application Outlook and Trend Analysis
Wind turbines section is anticipated to be the quickest developing application fragment, with a tremendous CAGR amid the gauge time frame. Expanding requirement for energy effective and light weight wind turbines is foreseen to drive product demand for wind turbines application fragment. The aviation & defense fragment held the biggest share owing to its developing prerequisite for lightweight materials. The quickly developing aviation industry is additionally anticipated that would grow the application base noticeable all around transport division.
Regional Outlook and Trend Analysis
North America is anticipated to develop tremendously. The region is set apart by a huge centralization of the principle aircraft creators, for example, Airbus and fundamental defence instruments producers in the region. Automobile giants in North America, accentuate on assembling superior autos with lessened weight, additionally driving the market in the area. Europe is anticipated to be the biggest and additionally quickest developing business sector in the following years.
The leading players in the market are Teijin, Mitsubishi Rayon Co, Excel Trust, Toray Industries, SGL Carbon India Pvt ltd and BASF. Major industry members have reconciliation all through the esteem chain. The organizations have cantered their operations to create the raw materials and furthermore make the product, to reduce the product cost.
The Carbon Fiber Market is segmented as follows-
By Raw Material:
Aerospace & Defence
Molding & Compounding
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?