Dublin, July 20, 2021 (GLOBE NEWSWIRE) -- The "Carbon Fiber Market by Raw Material (PAN, Pitch), Fiber Type (Virgin, Recycled), Product Type, Modulus, Application (Composite, Non-composite), End-use Industry (A & D, Automotive, Wind Energy) and Region - Global Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The global Carbon fiber market size is projected to grow from USD 3.7 billion in 2020 to USD 8.9 billion by 2031, at a CAGR of 8.6% between 2020 and 2031.
Carbon fibers are fibers about 5-10 micrometres in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages including high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance and low thermal expansion. These properties have made carbon fiber very popular in aerospace, civil engineering, military, and motorsports, along with other competition sports. Increasing demand from wind energy and aerospace & defense industries is expected to drive the growth of the market between 2021 and 2031.
PAN-based carbon fiber to register higher CAGR during the forecast period
The PAN-based carbon fiber segment dominated the carbon fiber market due to its high strength modulus in comparison to pitch-based carbon fibers. PAN-based carbon fiber is used more due to its cost-effectiveness and better quality of fiber produced. The market for PAN-based carbon fibers is expected to be driven by wind energy and pipe & tank industries during the forecast period.
Continuous carbon fibers to grow at the fastest rate between 2021 and 2031
Continuous carbon fiber offers higher tensile strength compared to other types of carbon fiber products. It can be used in layup, weaving, prepreg, filament winding, braiding, and pultrusion processes for manufacturing composite parts for different industries such as aerospace & defense, automotive, wind energy, sporting goods, and other industries. Thus, continuous fibers are expected to grow at the highest rate during the forecast period.
Composite applications to grow at a rapid pace during the forecast period
The carbon fiber market, by application, is expected to be driven by the composite segment, The growth is due to the wide-scale use of the composite form of carbon fiber in various industries such as aerospace & defense, automotive, and wind energy.
Pipe & tank industry is expected to register the highest CAGR between 2021 and 2031
There is a significant rise in the use of PAN-based carbon fiber composites in pressure vessels and cylinders due to their lightweight properties, which makes tanks 20-25% lighter than steel cylinders. The superior mechanical properties of carbon fiber pipes, such as superior anti-corrosion properties, low conductivity, and longer lifecycles, make them the preferred material in various industries. Carbon fiber is used in type III and type IV compressed natural gas (CNG) and hydrogen cylinders. These cylinders are used in heavy-duty vehicles such as trucks and buses, which help reduce the overall weight of vehicles and improve the mileage of vehicles. This is expected to trigger the growth of carbon fibers in the pipe & tank industry
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Carbon Fiber Market
4.2 Carbon Fiber Market, by Raw Material
4.3 Carbon Fiber Market, by Fiber Type
4.4 Carbon Fiber Market, by Product Type
4.5 Carbon Fiber Market, by ModulUS
4.6 Carbon Fiber Market Size, by Application
4.7 Carbon Fiber Market, by End-Use Industries and Region, 2020
4.8 Carbon Fiber Market, by Key Countries
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Demand from Satellite and Secondary Aircraft Parts Manufacturing
5.2.1.2 High Demand from Wind Energy Industry
5.2.1.3 Stringent Eco-Friendly Regulations to Drive Adoption of Carbon Fibers and Related Composites in Automotive Applications
5.2.2 Restraints
5.2.2.1 High Cost of Pan Carbon Fiber
5.2.2.2 Decline in Demand from Luxury Cars Segment
5.2.2.3 Disruption in Supply Chain Due to COVID-19
5.2.3 Opportunities
5.2.3.1 Increased Investments for Development of Low-Cost Coal-Based Carbon Fibers
5.2.3.2 Increasing Demand from FCEVs
5.2.3.3 Increasing Use of Carbon Fiber in 3D Printing
5.2.3.4 Development of Low-Cost Manufacturing Process Such as Plasma Oxidation Technology
5.2.4 Challenges
5.2.4.1 Maintaining Uninterrupted Supply Chain During COVID-19
5.2.4.2 Production of Low-Cost Carbon Fiber
6 Industry Trends
6.1 Porter's Five Forces Analysis
6.1.1 Threat of New Entrants
6.1.2 Threat of Substitutes
6.1.3 Bargaining Power of Suppliers
6.1.4 Bargaining Power of Buyers
6.1.5 Intensity of Competitive Rivalry
6.2 Ranges/ Scenarios
6.2.1 Sample 1Offshore Wind Turbine Market - 2030
6.2.1.1 Ranges/Scenario
6.3 Carbon Fiber Market: Optimistic, Pessimistic and Realistic Scenario
6.3.1 Optimistic Scenario
6.3.2 Pessimistic Scenario
6.3.3 Realistic Scenario
6.4 Cost Structure Analysis
6.5 Technology Analysis
6.6 Ecosystem: Carbon Fiber Market
6.7 Value Chain Analysis
6.8 Impact of COVID-19
6.8.1 Impact of COVID-19 on Aerospace Industry
6.8.2 Impact of COVID-19 on Automotive Industry
6.9 Average Selling Price
6.10 Supply Chain Analysis
6.11 Key Market for Import/Export
6.12 Trade Policy and Tariff Regulation for Export/Import
6.13 Case Study Analysis
6.14 Patent Analysis
6.15 Yc and Ycc Shift
7 Carbon Fiber Market, by Raw Material
7.1 Introduction
7.2 Pan-Based Carbon Fiber
7.2.1 Pan-Based Crabon Fiber Market Size, by Region
7.3 Pitch-Based Carbon Fiber
7.3.1 Petroleum-Based Pitch Carbon Fiber
7.3.2 Coal-Based Pitch Carbon Fiber
8 Carbon Fiber Market, by Fiber Type
8.1 Introduction
8.2 Virgin Carbon Fiber
8.3 Recycled Carbon Fiber
9 Carbon Fiber Market, by Modulus
9.1 Introduction
9.2 Standard Modulus
9.3 Intermediate Modulus
9.4 High ModulUS
10 Carbon Fiber Market, by Product Type
10.1 Introduction
10.2 Continuous Carbon Fiber
10.3 Long Carbon Fiber
10.4 Short Carbon Fiber
11 Carbon Fiber Market, by Application
11.1 Introduction
11.1.1 Composites
11.1.1.1 Prepreg
11.1.1.2 Molding Compound
11.1.1.3 Woven Fabric
11.1.2 Non-Composite
12 Pitch-Based Carbon Fiber Market, by End-Use Industry
12.1 Introduction
12.2 Aerospace & Defense
12.2.1 Pan-Based Carbon Fibers
12.2.2 Pitch-Based Carbon Fibers
12.2.2.1 Heat Sinks
12.2.2.2 Precision Structures
12.2.2.3 Space Radiators
12.2.2.4 Antenna and Reflectors
12.2.2.5 Brake Discs and Secondary Aircraft Structures
12.2.2.6 Others
12.3 Wind Energy
12.4 Automotive
12.4.1 Pan-Based Carbon Fibers
12.4.1.1 Interior Parts
12.4.1.2 Exterior Parts
12.5 Pitch-Based Carbon Fibers
12.5.1 Propeller Shaft
12.5.2 Braking Disc
12.6 Pipe & Tank
12.7 Sporting Goods
12.7.1 Pan-Based Carbon Fibers
12.7.2 Pitch-Based Carbon Fibers
12.8 Civil Engineering
12.8.1 Pan-Based Carbon Fibers
12.8.2 Pitch-Based Carbon Fibers
12.9 Electrical & Electronics
12.9.1 Pan-Based Carbon Fibers
12.9.2 Pitch-Based Carbon Fibers
12.10 Marine
12.11 Other End-Use Industries
12.11.1 Pan-Based Carbon Fibers
12.11.1.1 Medical
12.11.1.2 Oil & Gas
12.11.1.3 3-D Printing
12.11.1.4 High Speed & Metro Train
12.11.1.5 Electrode for Batteries
12.11.1.6 Catalysis
12.11.2 Pitch-Based Carbon Fibers
12.11.2.1 Industrial Equipment
12.11.2.2 Oil & Gas
12.11.2.3 Chemical
12.11.2.4 Thermal Management
12.11.3 Pan-Based Carbon Fiber Market Size in Other End-Use Industries, by Region
13 Carbon Fiber Market, by Region
14 Competitive Landscape
15 Company Profiles
15.1 Key Companies
15.1.1 Toray Industries Inc.
15.1.2 Teijin Limited
15.1.3 Sgl Carbon
15.1.4 Mitsubishi Chemical Holdings
15.1.5 Hexcel Corporation
15.1.6 Formosa Plastics Corporation
15.1.7 Solvay
15.1.8 Jiangsu Hengshen Co. Ltd.
15.1.9 Dowaksa
15.1.10 Hyosung Advanced Materials
15.2 Other Key Players
15.2.1 Zhongfu Shenying Carbon Fiber Co. Ltd.
15.2.2 Weihai Guangwei Composites Co. Ltd.
15.2.3 Umatex (Alabuga Fiber)
15.2.4 Taekwang Industries Co. Ltd.
15.2.5 Jilin Qifeng Chemical Fiber Co. Ltd.
15.2.6 Elg Carbon Fibre
15.2.7 Dalian Xingke Carbon Fiber Co. Ltd.
15.2.8 Nippon Graphite Fiber Corporation
15.2.9 Kureha
15.2.10 Zhong An Xin Technology Co. Ltd.
15.2.11 Osaka Gas Chemicals Co. Ltd.
15.2.12 Utsi
15.2.13 Ornl
15.2.14 Mallinda Inc.
15.2.15 Bcircular
15.2.16 Vartega Inc.
16 Appendix
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