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Sunday, June 19, 2022

Global Carbon Fibre Market to be Driven by the Robust Development of Commercial and Residential Buildings in the Forecast Period of 2022-2027

The new report by Expert Market Research titled, ‘Global Carbon Fibre Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global carbon fibre market, assessing the market based on its segments like raw materials, types, forms, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Historical Market Size (2021): USD 3,415 million
• Forecast CAGR (2022-2027): 11.9%
• Forecast Market Size (2027): USD 6,704 million

The robust development of commercial and residential structures owing to the rapid urbanisation and increasing population is generating the demand for carbon fibres. Meanwhile, the heightened usage of carbon fibre in sporting goods such as rackets and sticks, is propelling the demand for the material. Over the forecast period, the thriving automotive industry, coupled with the increasing sales of electric vehicles is anticipated to generate a significant demand for carbon fibre. In terms of region, the Asia Pacific accounts for a significant share in the market owing to the growing expansion of the major end use industries, coupled with the strong foothold of major product manufacturers in the continent.

Industry Definition and Major Segments

Carbon fibre, also known as graphite fibre, is defined as a long chain of carbon atoms which are bonded together. The material is stiff and strong and is ideal for building materials. Moreover, carbon fibre is lightweight, electrically conductive, fatigue resistant, chemically inert, and exhibits high resistance to corrosion. The toughness of the material also makes it applicable in the automotive industry.

On the basis of raw material, the market can be bifurcated into:

• Pan-Based Carbon Fibre
• Pitch-Based Carbon Fibre and Rayon-Based Carbon Fibre

Based on type, the market has been segmented into:

• Continuous Carbon Fibre
• Long Carbon Fibre
• Short Carbon Fibre

The market can be segmented, based on form, into:

• Composite Carbon Fibre
• Non-Composite Carbon Fibre

The significant end uses of the product are as follows:

• Aerospace and Defence
• Sports/Leisure
• Wind Turbines
• Moulding and Compounds
• Automotive
• Pressure Vessels
• Civil Engineering
• Marine
• Pultrusion Misc.
• Misc. Consumer
• Sailing/Yacht Building
• Others

The regional markets for carbon fibre include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

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Market Trends

The key trends in the carbon fibre market include the technological advancements of the aircrafts in the aerospace and defence industry. The robust development of defence equipment such as missiles, superior aircrafts, and attack helicopters, among others is spearheading the demand for carbon fibre. Furthermore, various sporting events which are supposed to take place in the coming years such as FIFA, and Olympics is expected to boost the demand for the product in the forecast period. Moreover, the growing R&D activities in the marine sector, aimed towards developing superior submarines and ships with high strength and toughness are likely to provide impetus to the market in the forecast period.

Key Market Players

The major players in the market are SGL Carbon, Hexcel Corporation, Hyosung Advanced Materials, Mitsubishi Chemical Carbon Fiber and Composites, Inc., and Nippon Steel Chemical & Material Co., Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company’s expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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