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Carbon fiber market growth is driven by aerospace industry over 2016-2024

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Carbon Fiber Market size rose steadily after the general economic downturn in 2009 and is forecast to grow at substantial rate from 2016 to 2024. Aerospace & defense industry is a major driver for growth in the carbon fiber market. Sports and leisure equipment is finding increased use of carbon fiber and is the second largest market in terms of revenue. – PowerPoint PPT presentation

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Title: Carbon fiber market growth is driven by aerospace industry over 2016-2024


1
Carbon Fiber Market Size, Share, Industry Outlook
Forecast 2016-2024
North America to lead global carbon fiber
industry by 2024
2
Global Market Scenario of Carbon Fiber Industry
  • Carbon fiber market size is forecast to grow at
    substantial rate from 2016 to 2024.The carbon
    fiber demand rose steadily after the general
    economic recession in 2009. This growth is
    accounted for the upcoming developments in the
    fields of aerospace defense, sporting goods,
    wind energy, automobiles and even in the market
    of civil engineering and electronics goods.
  • Aerospace defense industry is a major driver
    for growth in the carbon fiber market size. It
    accounted for approximately a third of the total
    product market in terms of demand and about half
    of the total carbon fiber market revenue.
  • Sports and leisure equipment is finding increased
    use of carbon fiber and is the second largest
    carbon fiber industry in terms of revenue. With
    growing awareness about healthy lifestyles and
    exercising, the demand for sports utilities will
    have a healthy growth in the next 8 years.

3
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  • The revenue in the aerospace and defense industry
    is forecast to grow till 2024 with increasing air
    travel in China, Middle East and other emerging
    nations. The growing market for light bodied
    combat aircrafts by the military will propel the
    industry in the upcoming years.
  • The advancements in the wind energy sector will
    lead to increasing use of carbon fiber industry
    in the manufacture of light weight and strong
    turbine blades and their parts.
  • Thermoset and thermoplastic fibers are the two
    basic types of carbon fibers based on the resin
    type. Most of the aerospace prepregs are made of
    thermoset fibers due to its mechanical
    superiority. Thermoplastics have a higher shelf
    life and find more application in areas where the
    requirement of strength and resistivity is
    outshined by durability.
  • Among other industries there are the civil
    engineering industry and electronics goods. With
    growing population and upgrading social status of
    the people around the globe, the demand for light
    weight and cost effective electronic goods will
    influence the carbon fiber market size
    positively.

4
Research Methodology
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5
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Products Insights
  • The most demanding region for the industry is
    North America with an annual production capacity
    recorded more than third of the global carbon
    fiber market. With more research and development
    in the aerospace and defense sector in the US,
    this demand is forecast to grow in the span from
    2016 to 2024.
  • The second largest producer is Europe with its
    commercial as well as military aircraft
    manufacturing units. The large number of high end
    automotive industries in Germany and Italy will
    also influence the fiber market size positively.
  • Based on the type of industry, carbon fiber
    market size finds major use in aerospace
    defense industry, wind energy sector, sports
    equipment industry, automotive industry and
    others. Aerospace industry is the primary end
    user, of which commercial aerospace sector has
    the major carbon fiber industry share in terms of
    volume as well as revenue.

6
Competitive Insights
  • The leading manufacturer of carbon fiber market
    in terms of production in 2013 was Toray
    Industries and recorded over 20 thousand tons of
    production capacity. Other companies providing
    competition in this sector are Zoltek, Toho
    Tenax, Mitsubishi Rayon Co. Ltd., SGL Carbon SE,
    Formosa Plastics Corp, Hexcel Corporation and
    others.

Browse this full report_at_ https//www.gminsights.co
m/industry-analysis/carbon-fiber-market
7

Latest Research Report On Carbon Fiber Market_at_
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