New York, USA, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Research Dive has published a another report, titled, “North America Carbon Fiber Market by Raw Material (Pitch-Based, PAN-Based carbon fiber, and Rayon-Based Carbon Fiber), Form (Non-Composite and Composite), Type (Long, Continuous, and Short), and End-User (Molding, leisure/Sports, Aerospace & Defense, Wind Turbines, and Compounds, Pressure Vessels, Automotive, Civil Engineering, Pultrusion Misc., Marine, Misc. Yacht/Sailing Building, Consumer, and Others): Opportunity Analysis and Industry Forecast, 2018–2025.”
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The North America carbon fiber market is estimated to reach $2,331 million by 2025, from a healthy market size of $1,001 million in 2017, with a significant CAGR of 11.0% in the analyzed forecast period.
Regional Analysis
Amongst the North American countries, the U.S.A is accounted to hold the largest share in the market due to the need to decrease greenhouse gases and rise in carbon fiber usage. The U.S.A is followed by Canada and Mexico in the market growth. The above mentioned factors are responsible for the market growth in the North American region, especially in the U.S.A.
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Key Segment Findings of the Market
The report divides the market into segments based on type, raw material, form, and end-user.
• The raw material segment is further classified into pitch-based, PAN-based carbon fiber, and rayon-based carbon fiber. Out of these sub-segments, PAN-based carbon fiber was estimated to dominate the market in the year 2017. This was due to certain characteristics associated with the sub-segment such as hardness, rigidity, compatibility with polar substances, resistant to many solvents and chemicals. These characteristics are enhancing the market growth in the forecast period.
• Based on type, this segment is bifurcated into short, continuous, and long sub-segments. Amongst these, the continuous carbon fiber sub-segment is anticipated to generate maximum profits due to low density and high tensile strength features. These factors are considered to boost the market in the estimated timeframe.
• Based on form, the segment is categorized into non-composite and composite sub-segments and amongst these; the composite sub-segment is expected to generate huge revenues. This is because end-users in automobiles utilize composite sub-segment for enhancing fuel efficiency and decreasing weight. These factors are responsible for the market growth in the forecast period.
• Based on end-user segment, automotive, wind turbines, marine, and yacht/sailing building sub-segments are expected to be more lucrative and grow with a significant CAGR during the projected forecast period. The rise in end-users in the North American region will promote the market growth.
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Market Dynamics
The North America carbon fiber market is predicted to augment in the 2018-2025 analyzed timeframe. The shift of automotive industries from conventional materials towards carbon fiber material is anticipated to escalate the market growth. Moreover, high flexibility, strength, and rise in usage of carbon fibers by the automotive industry also increase the market growth. Apart from this demand for high-performance carbon filters by the aerospace and defense sector and regulation by government to curb greenhouse gas emissions will boost the market. All these factors are responsible for the market growth in the predicted forecast period.
However, time consumptions regarding the production of carbon filters and high price of these filters is anticipated to hinder the market growth. Nevertheless, opportunities such as usage of carbon filters in wind turbines and medical industry will propel the market growth.
Key Market Players and Strategies
• Plasan Carbon Composites INC.
• TORAY INDUSTRIES
• Mitsubishi Chemical Corporation
• Nippon Graphite Fiber Co., Ltd.
• 3M
• DowAksa
• U.S.A. Formosa Plastics Corporation
• Advanced Composites Inc.
• Solvay
• Hexcel Corporation
The North American firms are elaborating their companies in upcoming markets to enhance their stand the North America. These businesses are opting for several strategies and plans like mergers, collaboration, acquisition and technological advancements and agreement for business expansion.
Beyond this, the report states aspects of all the prominent players functioning in the market along with the financial performances, developments, recent strategic moves, product portfolio, and SWOT analysis.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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