Carbon Fiber Market Size Worth $22.20 Billion By 2032 | CAGR: 12.90%

The global carbon fiber market size is expected to reach USD 22.20 billion by 2032, according to a new study by Polaris Market Research. The report “Carbon Fiber Market Share, Size, Trends, Industry Analysis Report, By Raw Material (Pan, Pitch); By Fiber; By Modulus; By Product; By Application; By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

In the clean economy, carbon fiber is being hailed as a miracle material. Its distinctive combination of great strength and low weight has sparked a revolution in wind energy and improved the fuel efficiency of aircraft. Turbine blades made of carbon fiber can be longer and more stiff than those made of typical fiberglass, which increases their durability at sea and increases their efficiency in less windy circumstances. This is influencing the use of carbon fiber in airplanes.

The material's potential to create lighter, more efficient cars is also catching the attention of automakers. BMW's i3 is equipped with a carbon fiber passenger unit, making it the first mass-produced car of its kind. McLaren recently announced plans to open a factory in Sheffield to manufacture carbon fiber sports cars. Automakers concentrating on working mass manufacturing & investing in their manufacturing processes to support the affordable carbon-based composite materials. This will further fuel the growth and demand for the carbon fiber market in coming years.

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As a wonder material for the clean economy, carbon fiber is being more and more lauded. Its distinctive combination of great strength and low weight has sparked a revolution in wind energy and improved the fuel efficiency of airplanes. The need for lightweight cars is expected to increase along with the demand for automobiles, which is expected to drive the industry. The desire for fuel-efficient vehicles and strict government regulations addressing carbon emissions are the main factors driving the industry growth.

Carbon Fiber Market Report Highlights

• Pan based carbon fiber is projected to experience a higher growth rate owing to the increasing demand in aerospace, general industrial parts, and sporting goods.
• Continuous Carbon Fiber is accounted largest share due to increased usage in different parts like aerospace, military, automotive and wind energy.
• Composite application is expected to have a higher growth rate because of extensive use of composite carbon fiber in the defense sector.
• The Wind Energy segment is projected to witness significant growth due to the increasing in the usage of carbon fiber in manufacturing of wind turbine blades.
• Europe is projected to witness higher growth due to increasing demand for carbon as a result of the expanding automotive sector in the area.
• The global players include Toray Industries, DowAksa, Mitsubishi Chemical, Solvay, Teijin Limited, Hyosung Advanced Materials, Zhongfu Shenying Carbon, Formosa Plastics, SGL Carbon, Hexcel Corporation, Jiangsu Hengshen, & Jilin Chemical Fiber.

Polaris Market Research has segmented the Carbon Fiber Market report based on raw material, fiber, modulus, product, application, end use and region:

Carbon Fiber, Raw Material Outlook (Revenue - USD Billion, 2019 - 2032)

• Pan-based carbon fiber
• Pitch-based carbon fiber

Carbon Fiber, Fiber Outlook (Revenue - USD Billion, 2019 - 2032)

• Virgin Carbon Fiber
• Recycled Carbon Fiber

Carbon Fiber, Modulus Outlook (Revenue - USD Billion, 2019 - 2032)

• Standard Modulus
• Intermediate Modulus
• High Modulus

Carbon Fiber, Product Outlook (Revenue - USD Billion, 2019 - 2032)

• Continuous Carbon Fiber
• Short Carbon Fiber
• Long Carbon Fiber

Carbon Fiber, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Composite
• Non-composite

 Carbon Fiber, End Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Aerospace and Defense
• Automotive
• Wind Energy
• Pipes and Tanks
• Sporting Goods

Carbon Fiber, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa