Carbon Fiber Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2035

Format: Online | Last Updated: Feb 2022

[Online Quarterly Update] Global capacity of Fiber Carbon in 2021 was around 193 thousand tonnes and the global consumption was around 151 thousand tonnes. Carbon Fiber market is expected to witness significant growth by reaching 298 thousand tonnes of global capacity in 2035 and expected to grow at a healthy CAGR of 9.82% during the forecast period. 
 
Physical and mechanical properties of Carbon Fiber make it an efficient and reliable material for industries like aerospace, defence, sports equipment, wind energy turbines, automotive industry, and others. Growing use of Carbon Fiber in wind energy sources is going to be one of main reason for the growth of the market. Traditionally wind turbines were made from Glass Fiber, the wind turbines which are made up of Carbon Fiber weigh 25-30% less than usual Fiber Glass. Since most of the countries signed the Paris climate change act to reduce their dependence on fossil fuel and reduce their carbon emission. Countries can now target locations which have low wind flow and can use carbon fiber for manufacturing wind turbines and other components
 
Aerospace/aviation & defence market has been a major consumer of Carbon fiber for its excellent properties such as light weight, high strength, exceptional stiffness, thermal stability etc. In the aerospace industry over 50% of aircraft material is made up of composites (carbon fiber etc). In defence sector, surging demand of light weight vehicle and drones are pushing the Carbon Fiber market in the forecast period. Aerospace & defence sector consumes around 50% of total carbon fiber produced in 2021. In the forecast period wind energy is anticipated to play significant role in the growth of carbon fiber.  
 
Region wise, Europe is the biggest consumer of Carbon Fiber due to presence of various aircraft and automobile manufacture in the region. Whereas demand in APAC region is going to increase over the period. Countries like China and India are shifting their dependency from fossil fuel to more sustainable energy methods, which will consequently increase the demand of Carbon Fiber in the region. Implementation of eco-friendly policies in developed and developing countries will also provide a boost the demand of carbon fiber. 
 
Around 90% of carbon fiber is manufactured by using Polyacrylonitrile (PAN) precursor. Rest 10% is manufactured from rayon or petroleum pitch-based precursor. The composition of raw material varies from company to company considered as the trade secret. Manufacturing process of carbon is combination of both chemical and mechanical process. Initial step involves stabilization of the molecule by heating at a temperature range of 390-590 degree Celsius. After stabilizing the material, it is again heated at very high temperature from 1830-5500 degree Celsius, during this process oxygen is kept out to prevent the fibers from burning at high temperature. For this process some companies utilise either two or more furnaces in order to have better control of heating rate. This whole process is known as carbonization. Later the container is slightly oxidised to provide better chemical and mechanical bonding properties. Surface treatment process must be performed under careful precision, even a slight error could result in defect in the carbon fiber. Finally, the fiber is coated with compatible materials such as epoxy, polyester, nylon, urethane to protect it during winding & weaving. This complex and tough carbon fiber process has a lot of technological barriers. Japanese firm such as Toray industries, Mitsubishi, Teijin limited has their own carbon fiber technology which makes them a global player in the market. China carbon fiber market is anticipated to grow in the forecast period. Chinese companies such as Zhongfu Shenying, Kangde Composites and others has already planned for new carbon fiber capacity in the coming years.
 
Major contributing players of global Carbon Fiber market are Toray Industries Inc, Hexcel Corporation, Mitsubishi Chemical Carbon Fiber & Composites, Inc, Teijin Limited, SGL Carbon SE, Formosa Plastic Corporation, Solvay Composite Materials, Hyosung Advanced Materials, and others.  
 
Years considered for this report:
 
Historical Period: 2015-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2035
 
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Objective of the Study: 
 
• To assess the demand-supply scenario of Carbon Fiber which covers production, demand, and supply of Carbon Fiber market globally.
• To analyse and forecast the market size of Carbon Fiber.
• To classify and forecast Carbon Fiber market based on technology, end-use and regional distribution.
• To identify drivers and challenges for Carbon Fiber market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Carbon Fiber market.
• To identify and analyse the profile of leading players involved in the manufacturing of Carbon Fiber.
 
 
To extract data for Carbon Fiber market, primary research surveys were conducted with Carbon Fiber manufacturers, suppliers, distributors, wholesalers, and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Carbon Fiber market over the coming years. 
 
ChemAnalyst calculated Carbon Fiber demand globally by analyzing the historical data and demand forecast which was carried out considering imported Carbon Fiber precursor, and production of carbon fiber ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst. 
 
Key Target Audience:
 
• Carbon Fiber manufacturers and other stakeholders
• Organizations, forums, and alliances related to Carbon Fiber distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
 
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Carbon Fiber manufacturers, customers, and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
 
Report Scope:
 
In this report, Carbon Fiber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
 
Attribute
Details
Market size volume by 2035
 0.41 million Tonnes
Growth Rate
CAGR of 9.82% from 2022 to 2035
Base year for estimation
2021
Historic Data
2015 – 2020
Forecast period
2022 – 2035
Quantitative units
Demand in Million Tonnes and CAGR from 2021 to 2035
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
By End-Use: (Aerospace & Defense, Automotive, Sporting Goods, Wind Energy, Civil Engineering, and others)
By Sales Channel: (Direct Company Sale, Indirect Sale)
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Toray Industries Inc, Hexcel Corporation, Teijin Limited, Solvay Composites, SGL Carbon SE, Formosa Plastic Corporation, Kangde Composites Co. ltd, Zhongfu Shenying Carbon Fiber Co. Ltd., and others
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
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Available Customizations:
 
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs. 
 
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Frequently Asked Questions (FAQ):

What is the CAGR projected for Carbon Fiber Market during 2022-2035? 

Global Carbon Fiber market is anticipated to grow with a CAGR of 9.3 in the forecast period.  

Which region holds the maximum share in the Carbon Fiber market as of 2021?

The Europe region holds the maximum share in the Carbon Fiber market owing to the presence of End user industries of Aviation, Defence, Sports Equipment & Automobiles.

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