Carbon Fiber Market is growing at a pretty fast pace, says market research. Superior
properties of carbon fibers such as improved strength, increased stiffness,
lower density, non-corrosiveness, electrical conductivity, high stiffness, high
tensile strength, low weight, high chemical resistance, high temperature
tolerance and low thermal expansion and chemical inertness make it an ideal
material in a variety of applications across multiple industries. Aerospace, Civil Engineering, Military and
Motorsports have high popularity regards for Carbon Fibers, according to
IndustryARC. However, they are relatively expensive when compared to similar
fibers, such as glass fibers or plastic fibers.
While end-user industries such as construction and
automotive industries are drawing much revenue and sales to the Carbon Fiber Market, there exist a few
constraints for carbon fiber market like the high costs and recycling problems
that could probably hinder the market growth over the next few years. But
surely, there exists more hope of good than the ill-effects in the market.
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MARKET TRENDS &
GROWTH:
Segment:
The ever growing demand for fuel efficient vehicles acts the main reason for the increasing
growth and production of carbon fiber as well as the focus on production of
energy/electricity from renewable sources. IndustryARC suggests that this
causes the Aerospace and Automotive Segments to be the fastest growing segments
among the Carbon Fiber Market for the coming 5 year forecast period: 2015-2020.
Also, the U.S. is estimated to have the highest market share in the production
of Carbon Fiber.
Region:
As discussed, the Carbon Fiber Market is dominated by the
U.S. which holds the highest consumption in the past few years, owing maximum
to the increased demand for carbon fiber from automotive and aerospace
applications. A number of opportunities are created in the U.S. due to the high
quantity usage of Carbon Fiber in Aerospace and Defense Industries. On the
other hand, production wise, North
America is responsible for more than 30%
of the overall production, thus standing at the number one regional position. Europe
and Japan are accounted to bag the next positions in the global market. Production
capacities are projected to have only moderate growth rates here as these
companies only have limited access to the necessary technologies for
manufacturing precursor materials and carbon fiber.
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REPORT SCOPE:
Market Segmentation:
The Carbon Fiber Market is segmented into 4 broad types
based on factors like:
1.
By Type
of Raw Material: PAN-Based, Pitch-Based, Rayon-Based and Others.
2.
By
Application: Composite Materials, Textiles, Flexible Heating and
Microelectrodes.
3.
By End
User: Automobile Sector, Industrial Sector, Aerospace Industry, Medical
Sector and Others.
4.
By
Geography: North America, APAC, Europe and ROW.
Key Players:
To mention a few notable companies studied and analyzed by
IndustryARC in this given market research report:
·
Mitsubishi Rayon Carbon Fiber and Composites,
Inc.
·
Nippon Carbon Co. Ltd.
·
Cytec Industries Inc.
·
Kureha Corp
·
Hexcel Corp.
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various industries, such as Agriculture, Automotive, Automation &
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