Carbon Fiber Market Size to grow by USD 2,732.91 million from 2022 to 2027, Increasing use of carbon fibers in aerospace and defense sector to boost the market growth

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07 Jun, 2023, 03:15 ET

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NEW YORK, June 7, 2023 /PRNewswire/ -- The global carbon fiber market size is estimated to increase by USD 2,732.91 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 7.43% during the forecast period. The increasing use of carbon fibers in the aerospace and defense sector notably drives the carbon fiber market growth. Major aircraft manufacturers such as Boeing and Airbus use carbon fiber to manufacture aircraft parts, which reduces aircraft weight by approximately 50%. The superior strength-to-weight ratio of carbon fiber-reinforced polymers (CFRP) materials enables them to be well-suited for aerospace applications as aircraft engineers focus on creating efficient, lightweight aircraft structures. They make up about 50% of the structural weight of the Boeing 787 Dreamliner. This approach yields an average weight reduction of 20% in comparison to traditional aluminum designs. Hence, such factors drive the market growth during the forecast period. Discover some insights on market size, historic period (2017 to 2021), and Forecast 2023-2027 before buying the full report -Request a sample report

Carbon fiber market – Vendor Analysis

Vendor Landscape - The global carbon fiber market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer carbon fiber in the market are 3M Co., China Composites Group Corp. Ltd., DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Evonik Industries AG, Formosa M Co. Ltd., Hexcel Corp., Hyosung Advanced Materials, Kordcarbon AS, Kureha Corp., Mitsubishi Chemical Corp., Nippon Steel Corp., Osaka Gas Co. Ltd., Saudi Arabian Oil Co., SGL Carbon SE, SIMCO Global Technology and Systems Ltd., Solvay SA, Taekwang Group, Teijin Ltd., Toray Industries Inc., and UMATEX ROSATOM State Corp. and others.

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Vendor Offerings -

Carbon Fiber Market - Segmentation Assessment

Segment Overview

This carbon fiber market report extensively covers market segmentation by end-user (aerospace and defense, sports and leisure, wind energy, automotive, and others), raw material (pan-based, pitch-based, and rayon-based), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

Geography Overview

By geography, the global carbon fiber market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global carbon fiber market.

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Carbon Fiber Market – Market Dynamics

Key Trends -

Major challenges -

Drivers, Trends and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

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Carbon Fiber Market Scope

Report Coverage

Details

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 7.43%

Market growth 2023-2027

USD 2,732.91 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.78

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 32%

Key countries

US, China, Japan, Germany, and Russia, Canada, Mexico, Italy,Spain, India, Japan, Australia, and South Korea

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., China Composites Group Corp. Ltd., DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Evonik Industries AG, Formosa M Co. Ltd., Hexcel Corp., Hyosung Advanced Materials, Kordcarbon AS, Kureha Corp., Mitsubishi Chemical Corp., Nippon Steel Corp., Osaka Gas Co. Ltd., Saudi Arabian Oil Co., SGL Carbon SE, SIMCO Global Technology and Systems Ltd., Solvay SA, Taekwang Group, Teijin Ltd., Toray Industries Inc., and UMATEX ROSATOM State Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Raw Material

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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