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Sep 23, 2023

Carbon Fiber Global Market Report 2023

Major players in the carbon fiber market are Toray Industries Inc., Solvay SA, Nippon Graphite Fiber Co. Ltd., Teijin Limited, Hexcel Corporation, Hyosung Advanced Materials Corp., Mitsubishi Chemical

Major players in the carbon fiber market are Toray Industries Inc., Solvay SA, Nippon Graphite Fiber Co. Ltd., Teijin Limited, Hexcel Corporation, Hyosung Advanced Materials Corp., Mitsubishi Chemical Carbon Fiber and Composites Inc.

New York, Aug. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Carbon Fiber Global Market Report 2023" - https://www.reportlinker.com/p06486653/?utm_source=GNW , Formosa M Co. Ltd., DowAksa (Dowaksa Ileri Kompozit Malzemeler Sanayi Ltd.), SGL Carbon SE, Zoltek Corporation, Zhongfu Shenying Carbon Co. Ltd., Jiangsu Hengshen Co. Ltd., Jilin Chemical Fiber Group Co. Ltd., BASF SE, and Covestro AG.The global carbon fiber market is expected to grow from $4.27 billion in 2022 to $4.69 billion in 2023 at a compound annual growth rate (CAGR) of 9.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The carbon fiber market is expected to reach $6.57 billion in 2027 at a CAGR of 8.8%.The carbon fiber market consists of sales of PAN type carbon fiber, pitch type carbon fiber, filaments, tows, yams, rovings and continuous carbon fiber.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Carbon fiber refers to a lightweight and powerful synthetic fiber created by carbonizing acrylic fiber at high temperatures.Carbon fibers are utilized in applications that need low weight, high rigidity, high conductivity.This fiber has varied uses across industries and is mainly used to make car bodies, aircraft parts, fishing rods, and equipment such as golf club shafts and tennis rackets.Western Europe was the largest region in the carbon fiber market in 2022. The regions covered in carbon fiber report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of carbon fibers are virgin fiber (VCF) and recycled carbon fiber (RCF).Virgin fiber refers to a fibrous paper source used for the first time, whereas recovered fiber is used in recycled paper.They are processed from various raw materials such as polyacrylonitrile (PAN), petroleum pitch, and rayon and are composed of large tow and small tow.They are used in various applications, such as composite materials, textiles, microelectrodes, and catalysis.They are utilized in various industries such as aerospace and defense, automotive, wind energy, pipes and tanks, sporting goods, and others.The growing automotive industry is expected to propel the growth of the carbon fiber market going forward.The automotive industry is a sector that encompasses numerous organizations and firms involved in the design, development, manufacture, marketing, selling, and maintenance of motor vehicles.Carbon fiber makes lightweight and high-strength vehicle body parts and components in the automotive industry, improving fuel efficiency, performance, and weight reduction in vehicles, particularly vehicles.For instance, according to the Bureau of Transportation Statistics (BTS), a US-based agency that publishes information on transportation systems, new vehicle sales increased to 11,741 new vehicles in 2021 from 11,041 vehicle sales in 2020.Therefore, the growing automotive industry is driving the carbon fiber market.Technological innovations are a key trend gaining popularity in the carbon fiber market going forward.Major companies operating in the carbon fiber market are developing innovative technologies to strengthen their position in the market.For instance, in December 2022, Asahi Kasei Corporation, a Japan-based chemical company, developed a recycling technology for inexpensive, high-quality carbon fiber.This innovative recycling technology aims to implement a recycling system using recycled carbon fiber from automobiles to make new carbon fiber-reinforced plastic (CFRP) or carbon fiber-reinforced thermoplastic (CFRTP) for cars.It has made it possible to produce high-quality, reasonably priced CFRTP using recycled carbon fiber from cars. Additionally, it will reduce vehicle weight and save energy.In December 2022, Arx Equity Partners s.r.o., a Czech Republic-based private equity firm, acquired Brebeck Composite s.r.o. for an undisclosed amount. With this acquisition, Brebeck’s primary strategic focus would remain on providing services to its blue-chip, anchor customers in the automotive and motorsport industries while expanding its product offering to customers in the aerospace market. Brebeck Composite s.r.o. is a Czech Republic-based producer of carbon fiber.The countries covered in the carbon fiber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The carbon fibers market research report is one of a series of new reports that provides carbon fibers market statistics, including carbon fibers industry global market size, regional shares, competitors with a carbon fibers market share, detailed carbon fibers market segments, market trends, and opportunities, and any further data you may need to thrive in the carbon fibers industry. This carbon fiber market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06486653/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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