Carbon Fiber Market with COVID-19 Impact Analysis, By Precursor (PAN, and Pitch), By Tow (Large, and Small), and By Region Size, Share & Forecast from 2022-2028
REPORT HIGHLIGHT
The carbon fiber market was valued at USD 3,060.7 million in 2021, expanding at a CAGR of 10.7% from 2022 to 2028.
Carbon fibers are long, thin strands of 0.005-0.01 mm in diameter. These fibers give tremendous strength to the vessels or systems into which they are inserted, which aids in the prevention of gas storage system explosions. They give the finished goods excellent tensile strength, high-temperature tolerance, and durability. Carbon fibers outperform other materials in terms of corrosion resistance, stiffness and strength, and longevity, outlasting aluminum and steel. As a result, these fibers are used in a variety of sectors. They are stiff and chemically inert, making compression and stretching difficult.
Market Dynamics
Carbon fiber market growth is expected to be fueled by rising automotive production and a growing need for lightweight cars. Manufacturers' increased need for vehicle body parts such as hoods, deck lids, bumper beams, and fenders may encourage product demand. The use of carbon fibers boosts vehicle durability, resulting in longer-life auto components. The market is being driven by the usage of composites in racing and premium automobiles.
Companies are implementing ideas and investing in procedures that will lower the total weight of the vehicle. As a result, carbon fiber-reinforced polymer (CFRP) is frequently employed in high-end supercars. The material has an extraordinarily high strength-to-weight ratio and a density as low as 1.6g/cc, making it incredibly light. A lightweight car has the advantage of improved fuel economy, and a 10% weight reduction may save up to 6% to 8% of gasoline in automobiles.
COVID-19 reduced output in a variety of industries, including automotive, construction, and aerospace. The COVID-19 epidemic has had a significant impact on the worldwide automotive supply business. In most regions of the world, automobile manufacturing and sales have ceased abruptly. In addition, COVID-19 will have a significant impact on the aerospace and defense industries, which is a key end-user of carbon fiber.
Segmentation Analysis:
The Global Carbon Fiber Market is segmented on the basis of Precursor, Tow, and Region.
The market is divided into PAN and pitch segments based on the precursor. During the projected period, the polyacrylonitrile (PAN) segment is expected to dominate the market. Because of its low cost, high modulus, high tensile strength, and higher fiber quality, it is widely used in aerospace and military, automotive, and sports goods applications. During the forecast period, the pitch-based segment may increase at a rapid pace. It is useful for the aerospace and sports sectors because of properties like as low electrical resistivity, low negative coefficient, high thermal conductivity, and high modulus.
The market is divided into two categories based on tow: little tow and huge tow. In 2020, the small tow sector had the lion's share. Because of their excellent modulus and tensile strength, little tow fibers are widely employed in the aerospace sector. It mostly refers to rovings with 24,000 (24K) or fewer strands. The composite fiber tow tests adhere to ASTM D 4018-17 standards. Companies are developing techniques to generate large tow intermediate modules. For example, in November 2017, Solvay purchased European Carbon Fiber GmbH (ECF), a large tow PAN fiber producer headquartered in Germany. Solvay will be able to establish a portfolio of large-tow fibers in order to complement the company's existing line of PAN and pitch aerospace-grade fibers as a result of this purchase.
Competitive Landscape:
The carbon fiber market is highly concentrated, with the top five manufacturers controlling more than 67 percent of the total worldwide manufacturing capacity. The majority of significant players are working on acquisitions, new product releases, and strategic alliances to expand their product portfolios, widen their market reach, and gain a competitive advantage over other key players. Additionally, aircraft manufacturers and their suppliers are concentrating on manufacturing.
For instance, in July 2022, Dassault inked a long-term contract with Hexcel to provide carbon fiber prepreg for the Falcon 10X program. This is the first Dassault business jet program to use sophisticated carbon fiber composites in the fabrication of its aircraft wings.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CARBON FIBER MARKET KEY PLAYERS
- DowAksa
- Hexcel Corporation
- Hyosung Corporation
- Mitsubishi Chemical Holdings Corporation
- Nippon Steel Corporation
- SGL Carbon
- Teijin Limited
- Toray Industries Inc.
- Solvay Sa
GLOBAL CARBON FIBER MARKET, BY PRECURSOR
- PAN
- Pitch
GLOBAL CARBON FIBER MARKET, BY TOW
- Large Tow
- Small Tow
GLOBAL CARBON FIBER MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA
TABLE OF CONTENT
1. Carbon Fiber Market Overview
1.1. Study Scope
2. Executive Summary
2.1. Market Snippet
2.1.1. Market Snippet by Tow
2.1.2. Market Snippet by Precursor
2.1.3. Market Snippet by Region
2.2. Competitive Insights
3. Carbon Fiber Key Market Trends
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. Carbon Fiber Industry Study
4.1. PEST Analysis
4.2. Porter’s Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Carbon Fiber Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Carbon Fiber Market Landscape
6.1. Market Share Analysis, 2021
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players’ Analysis
6.2.2. Emerging Players’ Analysis
7. Carbon Fiber Market – By Tow
7.1. Overview
7.1.1. Segment Share Analysis, By Tow, 2021 & 2028 (%)
7.1.2. Large Tow
7.1.3. Small Tow
8. Carbon Fiber Market – By Precursor
8.1. Overview
8.1.1. Segment Share Analysis, By Precursor, 2021 & 2028 (%)
8.1.2. PAN
8.1.3. Pitch
8.1.4. Others
9. Carbon Fiber Market– By Geography
9.1. Introduction
9.1.1. Segment Share Analysis, By Geography, 2021 & 2028 (%)
9.2. North America
9.2.1. Overview
9.2.2. Key Manufacturers in North America
9.2.3. North America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.2.4. North America Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.2.5. North America Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.2.6. U.S.
9.2.6.1. Overview
9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.2.6.3. U.S. Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.2.6.4. U.S. Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.2.7. Canada
9.2.7.1. Overview
9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.2.7.3. Canada Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.2.7.4. Canada Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3. Europe
9.3.1. Overview
9.3.2. Key Manufacturers in Europe
9.3.3. Europe Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.3.4. Europe Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.5. Europe Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.6. Germany
9.3.6.1. Overview
9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.6.3. Germany Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.6.4. Germany Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.7. Italy
9.3.7.1. Overview
9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.7.3. Italy Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.7.4. Italy Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.8. United Kingdom
9.3.8.1. Overview
9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.8.3. United Kingdom Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.8.4. United Kingdom Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.9. France
9.3.9.1. Overview
9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.9.3. France Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.9.4. France Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.10. Russia
9.3.10.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.10.2. Russia Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.10.3. Russia Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.11. Netherlands
9.3.11.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.11.2. Netherlands Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.11.3. Netherlands Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.12. Sweden
9.3.12.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.12.2. Sweden Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.12.3. Sweden Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.13. Poland
9.3.13.1. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.13.2. Poland Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.13.3. Poland Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.3.14. Rest of Europe
9.3.14.1. Overview
9.3.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.3.14.3. Rest of the Europe Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.3.14.4. Rest of the Europe Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4. Asia Pacific (APAC)
9.4.1. Overview
9.4.2. Key Manufacturers in Asia Pacific
9.4.3. Asia Pacific Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.4.4. Asia Pacific Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.5. Asia Pacific Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.6. India
9.4.6.1. Overview
9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.6.3. India Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.6.4. India Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.7. China
9.4.7.1. Overview
9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.7.3. China Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.7.4. China Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.8. Japan
9.4.8.1. Overview
9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.8.3. Japan Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.8.4. Japan Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.9. South Korea
9.4.9.1. Overview
9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.9.3. South Korea Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.9.4. South Korea Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.10. Australia
9.4.10.1. Overview
9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.10.3. Australia Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.10.4. Australia Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.11. Thailand
9.4.11.1. Overview
9.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.11.3. Thailand Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.11.4. Thailand Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.12. Indonesia
9.4.12.1. Overview
9.4.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.12.3. Indonesia Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.12.4. Indonesia Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.13. Philippines
9.4.13.1. Overview
9.4.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.13.3. Philippines Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.13.4. Philippines Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.4.14. Rest of APAC
9.4.14.1. Overview
9.4.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.4.14.3. Rest of APAC Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.4.14.4. Rest of APAC Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.5. Latin America
9.5.1. Overview
9.5.2. Key Manufacturers in Latin America
9.5.3. Latin America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.5.4. Latin America Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.5.5. Latin America Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.5.6. Brazil
9.5.6.1. Overview
9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.6.3. Brazil Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.5.6.4. Brazil Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.5.7. Mexico
9.5.7.1. Overview
9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.7.3. Mexico Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.5.7.4. Mexico Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.5.8. Argentina
9.5.8.1. Overview
9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.8.3. Argentina Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.5.8.4. Argentina Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.5.9. Colombia
9.5.9.1. Overview
9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.9.3. Colombia Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.5.9.4. Colombia Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.5.10. Rest of LATAM
9.5.10.1. Overview
9.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.5.10.3. Rest of LATAM Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.5.10.4. Rest of LATAM Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6. Middle East and Africa
9.6.1. Overview
9.6.2. Key Manufacturers in Middle East and Africa
9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
9.6.4. Middle East and Africa Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.5. Middle East and Africa Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.6. Saudi Arabia
9.6.6.1. Overview
9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.6.3. Saudi Arabia Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.6.4. Saudi Arabia Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.7. United Arab Emirates
9.6.7.1. Overview
9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.7.3. United Arab Emirates Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.7.4. United Arab Emirates Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.8. Israel
9.6.8.1. Overview
9.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.8.3. Israel Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.8.4. Israel Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.9. Turkey
9.6.9.1. Overview
9.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.9.3. Turkey Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.9.4. Turkey Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.10. Algeria
9.6.10.1. Overview
9.6.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.10.3. Algeria Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.10.4. Algeria Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.11. Egypt
9.6.11.1. Overview
9.6.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.11.3. Egypt Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.11.4. Egypt Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
9.6.12. Rest of MEA
9.6.12.1. Overview
9.6.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
9.6.12.3. Rest of MEA Market Size and Forecast, By Tow, 2017 - 2028 (US$ Million)
9.6.12.4. Rest of MEA Market Size and Forecast, By Precursor, 2017 - 2028 (US$ Million)
10. Key Vendor Analysis
10.1. Competitive Dashboard
10.2. Company Profiles
10.2.1. DowAksa
10.2.2. Hexcel Corporation
10.2.3. Hyosung Corporation
10.2.4. Mitsubishi Chemical Holdings Corporation
10.2.5. Nippon Steel Corporation
10.2.6. SGL Carbon
10.2.7. Teijin Limited
10.2.8. Toray Industries Inc.
10.2.9. Solvay Sa
11. 360 Degree Analyst View
12. Appendix
12.1. Research Methodology
12.2. References
12.3. Abbreviations
12.4. Disclaimer
12.5. Contact Us
