NEW YORK, Jan. 3, 2017 /PRNewswire/ -- "Carbon fiber market projected to grow at a CAGR of 10.8% in terms of value from 2016 to 2026"
The global carbon fiber market is projected to reach USD 8.00 billion by 2026, at a CAGR of 10.8% from 2016 to 2026. The major drivers of the global carbon fiber market are, the increasing demand for carbon fiber from the automotive and aerospace & defense end-user industries, increasing usage of carbon fiber in wind energy, and new product launches in the carbon fiber market. However, issues related to the high cost of carbon fiber and insufficient production capacity are the major factors restraining the growth of the market.
"Aerospace & defense end-user industry form the largest market share in the carbon fiber market, by value."
Carbon fiber is gaining importance in the aerospace & defense end-user industry as it enhances the strength and rigidity of the composite. Carbon fiber is already being used in the aerospace industry, with 50% of an aircraft's components being composites. Carbon fiber has great strength-to-weight capability as compared to other traditional aerospace materials, and hence, facilitates more efficient designs, structurally. It is normally used in secondary structures such as fairings, seat structures, luggage racks, galley equipment, and aircraft nose.
"North America is the fastest-growing region in carbon fiber market."
North America is the fastest-growing region in the carbon fiber market. The increasing demand for carbon fiber based composites by various end-use industries such as, automotive, aerospace & defense, wind energy, and sporting goods is driving the carbon fiber market in the region. Moreover, the region is witnessing rapid economic development and industrialization which is also driving the carbon fiber market in the region.
This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:
- By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By designation- C Level- 30%, Director Level- 25%, and Others- 45%
- By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, Latin America- 10% and Middle East & Africa- 5%
The report provides a comprehensive analysis and company profiles of the following companies:
- Hexcel Corporation (U.S.)
- Mitsubishi Rayon Co. Ltd. (Japan)
- Teijin Limited (Japan)
- Hyosung (South Korea)
- SGL Group (Germany)
- Cytec Industries Inc. (U.S.)
- DowAksa (Turkey)
- SvetlogorskKhimvolokno (Belrus)
- Toray Industries Inc. (Japan)
- Kemrock Industries & Exports Ltd. (India)
The report covers the global carbon fiber market in terms of form types, end-user industries, raw material, and product types. It aims at estimating the market size and future growth potential of this market across different segments such as, end-user industries, product type, form, raw material type, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them the closest approximations of the revenues for the overall carbon fiber market and the subsegments. The report will help stakeholders to better understand the competitive landscape and gain more insights, to better position their businesses and market strategies. The report will also help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
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