The Carbon Fiber market is projected to experience healthy growth over the forecast period, owing to extensive product use from the automotive and aerospace industries.

Carbon Fiber Market Size – USD 9.27 Billion in 2019, Growth - CAGR of 8.3%, Trends – High demand from developing nations.

The global Carbon Fiber Market is forecasted to reach USD 17.60 Billion by 2027, according to a new report by Reports and Data. Carbon Fiber are in high demand, due to their excellent weight-bearing capacity and excellent thermal and flame resistance. Carbon Fiber find widespread applications in defense & safety, aerospace, automobile, manufacturing, and electrical & electronics, among other sectors.

Growing demand for improved weight-bearing capacity, combined with superior rigidity for the components in the aerospace and automotive industries, is projected to propel the market demand. The integration of Carbon Fiber into aerospace components provides excellent durability and damage resistance, thereby fueling the growth of the market. Strong regulations levied by the different government bodies to minimize CO₂ pollution are also projected to emerge as one of the driving forces for the growth of lightweight materials in aerospace and automotive applications. Such regulations force OEMs to try solutions such as Carbon Fiber to curb pollution and improve fuel efficiency.

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Top Leading Pl,ayers: Toyobo Co. Ltd., DuPont, Teijin Limited, Morgan Thermal Ceramics, Toray Industries, Yantai Tayho Advanced Materials Co. Ltd., Kamenny Vek, Kolon Industries Inc., Owens Corning, Unifrax Corporation and among others.

Further Key Finding from the Report Suggestion:

• Based on Product, Carbon Fiber generated a revenue of USD 2.30 billion in 2019. It is projected to have a CAGR of 8.5% in the forecast period, due to the stable aspect ratio and an incredibly low cross-sectional region, allowing the usage of the component at high temperatures.
• The deformed Fiber are expected have a CAGR of 9.5% in the forecasted period, owing to its fundamental characteristics, including significant abrasion and impact resistance with better post crack strength, thereby making it appropriate to use for a variety of applications.
• The automotive sector is the major contributor to the Carbon Fiber Market. The automotive area of the Asia Pacific region is the major shareholder of the market and held around 27.2% of the market in the year 2019, owing to a growing population, coupled with increasing housing needs.
• The Asia Pacific dominated the market for Carbon Fiber in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 33.0% of the market, followed by Europe, which contains around 28.0% market in the year 2019.

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The global Carbon Fiber Market is segmented into:

Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

• Aramid Fiber
• Carbon Fiber
• Others

Form Outlook (Volume, Kilotons; 2017-2027, Revenue, USD Billion; 2017-2027)

• Straight Form
• Deformed Form
• Hooked Form
• Other

Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)

• Automotive
• Aerospace
• Electronics & Electrical
• Industrial
• Security
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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