Wilmington, Delaware, Aug. 23, 2023 (GLOBE NEWSWIRE) -- Philippines Carbon Fiber Market Size & Supplier Analysis - Growth Trends, Forecasts, and Share Analysis (2023-2028)
Philippines Carbon Fiber Market is valued at US$ 32.0 million in 2022 and is expected to grow at a significant CAGR of over 5.9% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
Carbon fiber is well-known for its lightweight and high-strength qualities, which make it useful in a variety of industrial applications. If sectors in the Philippines, such as aerospace, automotive, construction, or manufacturing, use carbon fiber for their products, the market may increase.
Advances in production methods and research into increasing carbon fiber qualities may lead to increased use. If local businesses or universities focus on innovation in this industry, it has the potential to stimulate market growth.
- According to a deep-dive market assessment by RationalStat, the Philippines carbon fiber market has been analyzed on the basis of market segments, including raw material type, fiber type, modulus type, product type, application, end user, and geography/regions (incl. Luzon, Visayas, Mindanao). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the Philippines carbon fiber market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units/Tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the Philippines Carbon Fiber market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Philippines Carbon Fiber Market: Segmental and Market Share Analysis
- On the basis of raw material, in terms of value and volume, pan-based carbon fiber held the biggest market share. These characteristics make them appropriate for a wide range of applications, from aircraft to general industrial parts and sporting equipment.
- On the basis of product type, the continuous fiber segment is expected to lead the market in 2022 and increase at a CAGR of 14.2% during the forecast period. Carbon fibers are naturally corrosion and chemically resistant.
- On the basis of application, the composite carbon fiber segment generated the most revenue in 2022 and is expected to rise at a 11.4% CAGR over the forecast period.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 32 million |
| Market Size Forecast | US$ 50.6 million |
| Growth Rate | 5.9% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the Philippines carbon fiber market include,
- In July 2022, Hexcel secured a long-term contract with Dassault to supply carbon fiber prepreg for the Falcon 10X programme. This is the first Dassault business jet programme to include high-performance components.
- In April 2021, Hyosung Advanced Materials received a six-year contract to supply reinforced carbon fiber for strengthening fuel tanks in hydrogen vehicles.
Some of the prominent players and suppliers operating and contributing significantly to the Philippines carbon fiber market growth include Alphatec Chemical Corp., BP TECHNOLOGIES PHILIPPINES, Teijin, Toray, IsoTruss, Inc, Schunk Carbon Technology among others.
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RationalStat has segmented the Philippines carbon fiber market based on raw material type, fiber type, modulus type, product type, application, end user and region
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon Fiber
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Raw Material Type
- Pan-based Carbon Fiber
- Pitch-based Carbon Fiber
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Modulus Type
- Standard Modulus
- Intermediate Modulus
- High Modulus
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Application
- Composite
- Non-Composite
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Product Type
- Continuous Carbon Fiber
- Short Carbon Fiber
- Long Carbon Fiber
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by End User
- Aerospace & Defense
- Automotive
- Wind Energy
- Electrical & Electronics
- Pipe & Tank
- Others
- Philippines Carbon Fiber Market Value (US$ Million), Volume (Units/Tons), and Market Share (2019-2030) Analysis by Region
- Philippines Carbon Fiber Market
- Luzon
- Visayas
- Mindanao
- Philippines Carbon Fiber Market
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Key Questions Answered in the Philippines Carbon Fiber Report:
- What will be the market value of the Philippines carbon fiber market by 2030?
- What is the market size of the Philippines carbon fiber market?
- What are the market drivers of the Philippines carbon fiber market?
- What are the key trends in the Philippines carbon fiber market?
- Which is the leading region in the Philippines carbon fiber market?
- What are the major companies operating in the Philippines carbon fiber market?
- What are the market shares by key segments in the Philippines carbon fiber market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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