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The carbon fiber market reached a value of USD 4.66 billion in 2022 and is projected to expand to USD 10.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 10.7% during the forecast period from 2023 to 2030.
Carbon fiber Market Share, a lightweight and high-strength material, has witnessed significant growth in recent years. This upward trend is expected to continue due to its wide range of applications across various industries. The market's remarkable growth can be attributed to factors such as increasing demand for fuel-efficient vehicles, rising adoption of renewable energy sources, and the growing aerospace industry.
The automotive sector, in particular, has emerged as a major consumer of carbon fiber, driven by the need for lightweight materials to enhance fuel efficiency and reduce carbon emissions. Additionally, the aerospace industry has recognized the benefits of carbon fiber in improving aircraft performance and reducing overall weight. These factors have contributed to the surge in demand for carbon fiber in these sectors.
Furthermore, the renewable energy sector has witnessed substantial growth, with a focus on wind energy generation. Carbon fiber plays a crucial role in manufacturing wind turbine blades, as it provides strength and durability while maintaining lightness. As the world increasingly shifts towards sustainable energy sources, the demand for carbon fiber in the renewable energy sector is expected to witness significant growth.
Geographically, North America and Europe have dominated the carbon fiber market, owing to the presence of key manufacturers and early adoption of advanced technologies. However, the Asia Pacific region is anticipated to witness substantial growth during the forecast period. The region's expanding automotive and aerospace industries, coupled with government initiatives promoting renewable energy, are expected to drive the demand for carbon fiber.
In conclusion, the carbon fiber market is poised for substantial growth in the coming years. With its exceptional properties and increasing demand from various industries, the market is expected to reach USD 10.6 billion by 2030, growing at a CAGR of 10. Furthermore, the widespread adoption of carbon fiber in sectors such as aerospace, automotive, and sports and leisure is contributing to its promising future. The lightweight and high-strength characteristics of carbon fiber make it an ideal material for enhancing fuel efficiency and reducing emissions in the transportation industry. Additionally, the growing focus on renewable energy sources and the need for sustainable solutions are driving the demand for carbon fiber in wind energy applications. As a result, the carbon fiber market is expected to witness significant expansion in the coming years, with a projected compound annual growth rate (CAGR) of 10%.
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Key Players:
Mitsubishi Chemical Corporation, Toray Industries Inc., DowAksa, Solvay, Hexcel Corporation, Hyosung Advanced Materials, Zhongfu Shenying Carbon Co., SGL Carbon Ltd, Teijin Limited, Formosa Plastic Corporation and other key players.
MARKET SEGMENTATION:
By Raw Material
PAN
Petroleum
Pitch
Coal
By Product type
Long
Short
Continuous
By Technology
Stabilizing
Carbonizing
Sizing
Treating the surface
By End user
Defence & Aerospace
Automotive
Electronics & Electrical
Sports
Other
Complete Report Details @ https://www.snsinsider.com/reports/carbon-fiber-market-3008
Table of Content
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter’s 5 forces model Textile Chemicals Market
7. PEST Analysis
8. Emulsion Carbon Fiber Market Share By Raw Material
9.Emulsion Carbon Fiber Market Share By Technology
10.Emulsion Carbon Fiber Market Share By End-use Industry
11.Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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