Carbon Fiber Market Expected to Reach US$3.73 billion by 2020, Increased Demand in Automotive, Sporting Goods and Aerospace Defense
Carbon Fiber Market-Transparency Market Research has announced a new research report on the global carbon fiber market. According to the report, the global carbon fiber market is expanding progressively at a CAGR of 9.9% from 2014 to 2020 the forecast period. In 2013 the global value of the carbon fiber market was US$1.94 billion and this is set to increase and reach a value of US$3.73 billion by 2020, as described in the market report.The market research report on global carbon fiber market is titled “Carbon Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014– 2020”.
Analysis of the carbon fiber market is done on regional and global levels in the market research report based on revenues and volumes between the years 2014 to 2020. The report analyzes the market trends including the market drivers, restraints, and opportunities worldwide and in specific regions. The market study analyzes the carbon fiber market by future market prospects and current market estimates during the projected period. Market segmentation is analyzed by product types, end-user, and by geographical regions.Carbon fiber has extensive industrial applications, and are produced worldwide.
The different carbon fiber types include rayon based, pitch based, polyacrylonitrile (PAN) based, and polyolefin-based among others. Carbon fibers are used in automotive, sports goods, defense industry, and construction among other uses.
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Among carbon fiber types, the PAN based carbon fibers product segment is expected to increase in demand due to its unique structural properties. Wind-energy is an end-user segment in carbon fiber that had a 24% market share in 2013. The automotive end-user segment is considered as the fastest growing in the report. The major end user segments predicted as positive growth propellers in the carbon fiber market are; wind energy, defense industries, automotive industry and sporting goods, due to the rise in demand.
Geographically, carbon fiber market is divided into North America, Europe, Asia Pacific, and Rest of the World (RoW). In Europe the automotive, aerospace, defense, and wind energy segments have witnessed growing demands and these factors are expected to drive the market. Europe carbon fiber market share was 37% in 2013. Emerging nations in Asia Pacific region have indicated rise in demand for carbon fiber composites especially China and India. This region is projected as the fastest growing market over the next few years.
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Due to slow economic recovery, North America is a steadily growing market for carbon fiber. Rest of the World (RoW) geographical segment is expected to register substantial growth over the next few years due to carbon fiber demand in countries in the Middle East and Latin America.
Market opportunities for carbon fiber are elaborated as the expanding demand for durable and lightweight carbon fiber constituents in end-user industries such as construction and automotive industries. Market constraints for carbon fiber are high costs and recycling problems that could hinder market growth over the next few years.The market research report lists the major players for carbon fiber in the report. Among these are Hexcel Corporation, Teijin Ltd, Cytec Industries, Mitsubishi Rayon Co., Ltd, and Toray Industries.
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