Home / Chemicals / Carbon Fibers Market (Precursor Type- Pitch Based Carbon Fiber and PAN Based Carbon Fiber) Market By Precursor Type (Pitch Based Carbon Fiber, PAN Based Carbon Fiber, Others (Polyolefin Based Carbon Fiber; Rayon Based Carbon Fiber, etc.)), By Application( Aerospace & Defense, Wind Turbines, Sports/Leisure, Automotive, Construction and Others) - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 - 2023

Carbon Fibers Market (Precursor Type- Pitch Based Carbon Fiber and PAN Based Carbon Fiber) Market By Precursor Type (Pitch Based Carbon Fiber, PAN Based Carbon Fiber, Others (Polyolefin Based Carbon Fiber; Rayon Based Carbon Fiber, etc.)), By Application( Aerospace & Defense, Wind Turbines, Sports/Leisure, Automotive, Construction and Others) - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 - 2023

Published: Oct 2016 | Report Code: 57872-10-16

Growing demand for lightweight aircrafts in the defense industry has boosted high demand for carbon fibers in the market. Carbon fibers are gaining high demand from the global market due to its beneficial properties such as high tensile strength, heat resistant and manufacturing flexibility among others. These properties have led to high demand from various end-user industries in the global market. Automotive industry accounted as the second largest application segment of global carbon fibers market in 2015. Rising concerns for fuel efficient has boosted market demand for carbon fibers due to its lightweight material property. Due to the lightweight property of carbon fibers, automotives consume less amount of fuel giving without compromising on performance. Hence, high demand is reported for carbon fibers from the automotive industry. Manufacturing flexibility is another factor contributing to growth of carbon fiber market especially in Europe. Europe is the hub for major automotive industries in the global market. Hence, Europe is accounted as the fastest growing region for carbon fibers market. Growing construction activities in Asia Pacific has also led to growth of carbon fibers in the market. Carbon fibers have replaced the materials used in the manufacturing of construction equipments. Hence, high demand is reported for carbon fibers from the construction industry. The beneficial properties of carbon fibers are well suited for variety of application based on its precursor type. The raw materials used in manufacturing carbon fibers are known as precursors. PAN based carbon fibers accounted for major share of global carbon fibers market.  The beneficial properties such as high strength, heat resistant and manufacturing flexibility among others has led to high demand from wide range of end-user industries.

Carbon fiber market is expected to reach over US$ 4.8 Bn by 2023, growing at a CAGR of more than 9.7% during the forecast period 2016-2023.

Carbon Fibers Market


Purpose of the Report

The purpose of this strategic research study titled “Global Carbon fiber Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them make informed strategic decisions regarding the opportunities in the global carbon fiber market.

Target Audience

  • Industry Investors
  • Carbon fiber Providers/Vendors
  • Research Professionals
  • Emerging Companies
  • Raw Material Suppliers/ Buyers
  • Product Suppliers/ Buyers
  • Research Institutes

USP and Key Offerings

The report titled “Global Carbon fiber Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 – 2023” offers strategic insights into the global carbon fiber market along with the market size and estimates for the duration 2016 to 2023. The said research study covers in-depth analysis of multiple market segments based on applications, functions and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading carbon fiber vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:

  • Current and future market trends to justify the forthcoming attractive markets within carbon fiber industry
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Trailing 2-Year market size data (2013 – 2014)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global carbon fiber market, of growth, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.

Chapter 1 Preface 14
1.1 Report Description 14
1.1.1 Purpose of the Report 14
1.1.2 Target Audience 14
1.1.3 USP and Key Offerings 14
1.2 Research Scope 15
1.3 Market Segmentation 16
1.4 Research Methodology 16
1.4.1 Phase I – Secondary Research 17
1.4.2 Phase II – Primary Research 17
1.4.3 Phase III – Expert Panel Review 18
1.4.4 Approach Adopted 18

Chapter 2 Executive Summary 19
2.1 Market Snapshot: Global Carbon Fiber Market 19
2.2 Global Carbon Fiber Market, By Precursor Type 20
2.3 Global Carbon Fiber Market, By Applications 21
2.4 Global Carbon Fiber Market, By Geography 22

Chapter 3 Market Dynamics 24
3.1 Introduction 24
3.2 Market Drivers 25
3.3 Market Growth Inhibitors 28
3.4 Opportunities 29
3.5 Impact Analysis of Drivers and Restraints 31
3.6 Attractive Investment Proposition 32
3.7 Competitive Analysis 33
3.7.1 Market Positioning of Key Companies 33

Chapter 4 Global Carbon Fiber Market Analysis, By Precursor Type 34
4.1 Overview 34
4.2 Pitch Based Carbon Fibers 35
4.2.1 Global Pitch Based Carbon Fiber Market, 2013 – 2023, (Kilo Tons) (US$ Mn) 36
4.3 PAN Based Carbon Fibers 37
4.3.1 Global PAN Based Carbon Fiber Market, 2013 – 2023, (Kilo Tons) (US$ Mn) 37
4.4 Others 38
4.4.1 Global Others Market, 2013 – 2023, (Kilo Tons) (US$ Mn) 39

Chapter 5 Global Carbon Fiber Market Analysis, By Applications 41
5.1 Overview 41
5.2 Aerospace & Defense 42
5.2.1 Global Carbon Fiber Market Volume and Revenue for Aerospace & Defense, 2013 – 2023, (Kilo Tons) (US$ Mn) 43
5.3 Wind Turbines 43
5.3.1 Global Carbon Fiber Market Volume and Revenue for Wind Turbines, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
5.4 Sports/Leisure 43
5.4.1 Global Carbon Fiber Market Volume and Revenue for Sports/Leisure, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
5.5 Automotive 43
5.5.1 Global Carbon Fiber Market Volume and Revenue for Automotive, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
5.6 Construction 43
5.6.1 Global Carbon Fiber Market Volume and Revenue for Construction, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
5.7 Others 43
5.7.1 Global Carbon Fiber Market Volume and Revenue for Others, 2013 – 2023, (Kilo Tons) (US$ Mn) 44

Chapter 6 North America Carbon Fiber Market Analysis 45
6.1 Overview 45
6.1.1 North America Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 45
6.2 North America Carbon Fiber Market Analysis, By Precursor Type, 2013 – 2023 (Kilo Tons) (US$ Mn) 46
6.3 North America Carbon Fiber Market Analysis, By Applications, 2013 – 2023 (Kilo Tons) (US$ Mn) 47
6.4 North America Carbon Fiber Market Analysis, By Country, 2013 – 2023 (Kilo Tons) (US$ Mn) 48
6.4.1 U.S. Carbon Fiber Market Revenue and Volume, 2013 – 2023 (Kilo Tons) (US$ Mn) 48
6.4.1.1 Comparative Analysis of North America Carbon Fiber Market Revenue, By Country, 2013 – 2023, (US$ Mn) 49

Chapter 7 Europe Carbon Fiber Market Analysis 50
7.1 Overview 50
7.1.1 Europe Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 50
7.2 Europe Carbon Fiber Market Analysis, By Precursor Type, 2013 – 2023 (Kilo Tons) (US$ Mn) 51
7.3 Europe Carbon Fiber Market Analysis, By Applications, 2013 – 2023 (Kilo Tons) (US$ Mn) 52
7.4 Europe Carbon Fiber Market Analysis, By Country, 2013 – 2023 (Kilo Tons) (US$ Mn) 53
7.4.1 EU (U.K., France, Germany) Carbon Fiber Market Revenue and Volume, 2013 – 2023 (Kilo Tons) (US$ Mn) 53
7.4.1.1 Comparative Analysis of Europe Carbon Fiber Market Revenue, By Country, 2015, (US$ Mn) 54

Chapter 8 Asia Pacific Carbon Fiber Market Analysis 55
8.1 Overview 55
8.1.1 Asia Pacific Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 55
8.2 Asia Pacific Carbon Fiber Market Analysis, By Precursor Type, 2013 – 2023 (Kilo Tons) (US$ Mn) 56
8.3 Asia Pacific Carbon Fiber Market Analysis, By Applications, 2013 – 2023 (Kilo Tons) (US$ Mn) 57
8.4 Asia Pacific Carbon Fiber Market Analysis, By Country, 2013 – 2023 (Kilo Tons) (US$ Mn) 58
8.4.1 Comparative Analysis of Asia Pacific Carbon Fiber Market Revenue, By Country, 2015, (US$ Mn) 59

Chapter 9 Rest of the World Market Analysis 60
9.1 Overview 60
9.1.1 Rest of the World Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 60
9.2 Rest of the World Carbon Fiber Market Analysis, By Precursor Type, 2013 – 2023 (Kilo Tons) (US$ Mn) 61
9.3 Rest of the World Carbon Fiber Market Analysis, By Applications, 2013 – 2023 (Kilo Tons) (US$ Mn) 62
8.4 Rest of the World Carbon Fiber Market Analysis, By Region, 2013 – 2023 (Kilo Tons) (US$ Mn) 58
8.4.1 Comparative Analysis of Rest of the World Carbon Fiber Market Revenue, By Region, 2015, (US$ Mn) 59

Chapter 10 Company Profiles 68
10.1 Cytec Industries Inc. 68
10.1.1 Cytec Industries Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 68
10.2 Dowaksa 70
10.2.1 Dowaksa: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 70
10.3 Formosa Plastics Corporation 72
10.3.1 Formosa Plastics Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 72
10.4 Hexcel Corporation 74
10.4.1 Hexcel Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 74
10.5 Hyosung 75
10.5.1 Hyosung: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 75
10.6 Mitsubishi Rayon Co. Ltd. 77
10.6.1 Mitsubishi Rayon Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 77
10.7 SGL Group 79
10.7.1 SGL Group: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 79
10.8 Taekwang Industrial Co. Ltd. 81
10.8.1 Taekwang Industrial Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 81
10.9 Teijin Limited 83
10.9.1 Teijin Limited: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 83
10.10 Tencate 83
10.10.1 Tencate: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 83
10.11 Toray Industries Inc. 83
10.11.1 Toray Industries Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 83

List of Figures

FIG. 1 Global Carbon Fiber: Market Segmentation 16
FIG. 2 Global Carbon Fiber Market: Research Methodology 17
FIG. 3 Global Carbon Fiber Market, By Precursor Type, 2015 (US$ Mn) 21
FIG. 4 Global Carbon Fiber Market, By Applications, 2015 (US$ Mn) 22
FIG. 5 Global Carbon Fiber Market, By Geography, 2015 and 2022 (US$ Mn) 23
FIG. 6 Attractive Investment Proposition 32
FIG. 7 Market Positioning of Key Carbon Fiber Companies, 2015 33
FIG. 8 Global Carbon Fiber Market Revenue, By Precursor Type, 2015 & 2022 (US$ Mn) 35
FIG. 9 Global Pitch Based Carbon Fiber Market, 2013 – 2023, (Kilo Tons) (US$ Mn) 36
FIG. 10 Global Pan Based Carbon Fiber Market, 2013 – 2023, (Kilo Tons) (US$ Mn) 37
FIG. 11 Global Others Market, 2013 – 2023, (Kilo Tons) (US$ Mn) 39
FIG. 12 Global Carbon Fiber Market Revenue, By Applications, 2015 & 2022 (US$ Mn) 42
FIG. 13 Global Carbon Fiber Market Volume and Revenue for Aerospace & Defense, 2013 – 2023, (Kilo Tons) (US$ Mn) 43
FIG. 14 Global Carbon Fiber Market Volume and Revenue for Wind Turbines, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
FIG. 15 Global Carbon Fiber Market Volume and Revenue for Sports/Leisure, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
FIG. 16 Global Carbon Fiber Market Volume and Revenue for Automotive, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
FIG. 17 Global Carbon Fiber Market Volume and Revenue for Construction, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
FIG. 18 Global Carbon Fiber Market Volume and Revenue for Others, 2013 – 2023, (Kilo Tons) (US$ Mn) 44
FIG. 19 North America Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 45
FIG. 20 Comparative Analysis of North America Carbon Fiber Market Revenue, By Country, 2013 – 2023, (US$ Mn) 49
FIG. 21 Europe Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Bn) 50
FIG. 22 Comparative Analysis of Europe Carbon Fiber Market Revenue, By Country, 2015, (US$ Mn) 54
FIG. 23 Asia Pacific Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 55
FIG. 24 Comparative Analysis of Asia Pacific Carbon Fiber Market Revenue, By Region, 2015, (US$ Mn) 59
FIG. 25 Rest of the World Carbon Fiber Market Volume and Revenue, 2013 – 2023, (Kilo Tons) (US$ Mn) 60

List of Tables

TABLE 1 Market Snapshot: Global Carbon Fiber Market 19
TABLE 2 Impact Indicators 31
TABLE 3 Impact Analysis of Drivers and Restraints 31
TABLE 4 North America Carbon Fiber Market Volume, By Precursor Type, 2013 – 2023 (Kilo Tons) 46
TABLE 5 North America Carbon Fiber Market Revenue, By Precursor Type, 2013 – 2023 (US$ Mn) 47
TABLE 6 North America Carbon Fiber Market Volume, By Applications, 2013 – 2023 (Kilo Tons) 48
TABLE 7 North America Carbon Fiber Market Revenue, By Applications, 2013 – 2023 (US$ Mn) 48
TABLE 8 Europe Carbon Fiber Market Volume, By Precursor Type, 2013 – 2023 (Kilo Tons) 51
TABLE 9 Europe Carbon Fiber Market Revenue, By Precursor Type, 2013 – 2023 (US$ Mn) 52
TABLE 10 Europe Carbon Fiber Market Volume, By Applications, 2013 – 2023 (Kilo Tons) 53
TABLE 11 Europe Carbon Fiber Market Revenue, By Applications, 2013 – 2023 (US$ Mn) 53
TABLE 12 Asia Pacific Carbon Fiber Market Volume, By Precursor Type, 2013 – 2023 (Kilo Tons) 56
TABLE 13 Asia Pacific Carbon Fiber Market Revenue, By Precursor Type, 2013 – 2023 (US$ Mn) 57
TABLE 14 Asia Pacific Carbon Fiber Market Volume, By Applications, 2013 – 2023 (Kilo Tons) 57
TABLE 15 Asia Pacific Carbon Fiber Market Revenue, By Applications, 2013 – 2023 (US$ Mn) 58
TABLE 16 Rest of the World Carbon Fiber Market, By Precursor Type, 2013 – 2023 (Kilo Tons) 61
TABLE 17 Rest of the World Carbon Fiber Market, By Precursor Type, 2013 – 2023 (US$ Mn) 62
TABLE 18 Rest of the World a Carbon Fiber Market, By Applications, 2013 – 2023 (Kilo Tons) 62
TABLE 19 Rest of the World Carbon Fiber Market, By Applications, 2013 – 2023 (US$ Mn) 63
TABLE 20 Cytec Industries Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 68
TABLE 21 Dowaksa: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 70
TABLE 22 Formosa Plastics Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 72
TABLE 23 Hexcel Corporation: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 74
TABLE 24 Hyosung: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 75
TABLE 25 Mitsubishi Rayon Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 77
TABLE 26 SGL Group: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 79
TABLE 27 Taekwang Industrial Co. Ltd.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 81
TABLE 28 Teijin Limited: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 83
TABLE 29 Tencate: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 83
TABLE 30 Toray Industries Inc.: Company Snapshot (Company Details, Geographical Presence, Product Portfolio, Key Industries Served, SCOT Analysis, Recent Developments) 83

On the basis of precursor type, the carbon fiber market is categorized into following categories:

  • Pitch Based Carbon Fiber
  • PAN Based Carbon Fiber
  • Others (Polyolefin Based Carbon Fiber; Rayon Based Carbon Fiber, etc.)

Carbon Fibers Market

PAN based carbon fiber market dominated the global carbon fiber market in 2015 and is expected to retain its position during the forecast period. The raw materials which are used in the production of carbon fibers are known as precursors. Carbon fibers are produced using materials such as PAN, petroleum and rayon pitch. The carbon fibers produced are mostly made up of 90% of PAN. The remaining 10% are made from petroleum and rayon pitch. In the recent years, carbon fiber industry has been growing steadily to meet the rising demands from various applications in the end-user industries. Carbon fibers used in the end-user industries for different applications depend on the precursor type used to manufacture carbon fibers. The beneficial properties of PAN based carbon fibers such as thermal stability, low density, modulus of elasticity and high strength has led to high demand from various applications in the global market. Therefore, high demand is reported for PAN based carbon fibers in the global market. Pitch is a material which is viscoelastic and is made up of aromatic hydrocarbons. Pitch based carbon fibers are also expected to experience high demand during the forecast period due to its properties such as high strength, withstand high levels of stress and has high elastic modulus among others. Hence, pitch based carbon fibers are also expected to experience high demand in the near future, thereby boosting growth of global carbon fiber market.  Other segment is expected to experience sluggish growth but is expected to gain market share during the forecast period due to growing end-user industries in the global market.

On the basis of its application, the carbon fiber market is categorized into following segments:

  • Aerospace & Defense
  • Wind Turbines
  • Sports/Leisure
  • Automotive
  • Construction
  • Others

Carbon Fibers Market 

Growing demand for lightweight materials in manufacturing large number of products in the end-user industries has led to growth of carbon fibers market. Carbon fiber possess beneficial properties for advanced materials such as high tensile strength, lightweight, heat resistant and manufacturing flexibility. Therefore, high demand is reported for carbon fiber from wide range of end-user industries such as aerospace & defense, energy, automotive, construction and sports among others. Aerospace & defense accounted as the largest application segment of carbon fiber in the market. The demand for lightweight materials in manufacturing aircraft components has led to high demand for carbon fibers. High demand for lightweight aircrafts in the defense industry has led to growth of global carbon fibers market. Fuel efficiency is another factor boosting high demand for carbon fibers in the global market. Lightweight materials help in saving fuel and energy in automotives. Hence, automotive segment is expected to follow aerospace & defense and is expected to fuel high growth of carbon fibers in the market worldwide. Carbon fiber is widely used in other industries such as construction, sports, wind turbines among others. The lightweight property of carbon fibers is the major factor for its growth in the global market. The industries stated above are also expected to drive demand for carbon fibers during the forecast period from 2016 to 2023.

On the basis of geography, the global carbon fiber market is segmented into following categories,

  • North America
    • U.S.
    • Canada
  • Europe
    • France
    • Germany
    • UK
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia Pacific
  • Rest of the World
    • Latin America
    • Middle East & Africa
    • Others

Carbon Fibers Market
 

North America accounted for major share of global carbon fiber market in 2015 and is expected to increase in the near future. Growing demand for carbon fibers from the aerospace & defense industry has led to high demand for carbon fibers from the region. Europe accounted as the second largest market for carbon fibers in 2015. The growing use of carbon fibers in the automotive industries is driving demand for carbon fibers in the region. Growing number of automotive industries have therefore led to the growth of global carbon fibers market. Asia Pacific followed Europe and accounted as the third largest market for carbon fibers. Increasing demand for carbon fibers from construction industry is the major factor boosting growth of carbon fibers in the region. Growing construction activities in the region is the major factor driving growth of carbon fibers market, especially in China and India. High demand for carbon fibers in manufacturing wind turbines has also contributed o the growth of carbon fibers market. Rest of the World which include Latin America and Middle East and Africa are also projected to fuel demand for carbon fibers during the forecast period from 2016 to 2023.

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