Carbon Fiber Market to Witness Huge Growth
by 2023
Carbon Fiber Market research report 2019 - 2023 provides the
newest industry data and industry future trends, allowing you
to identify the products and end users driving Revenue growth
and profitability.
Global Carbon Fiber Market Synopsis:
According to Market Analyst, The Global Carbon Fiber Market is expected to grow at an impressive
Compound Annual Growth Rate (CAGR) from 2019 to 2023.
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Carbon fiber is almost as half as light as steel and offers high tensile strength with temperature
tolerance and sturdiness. It also has low thermal expansion and is corrosion, as well as high heat
tolerant and resistant. Because of its distinct lightweight and strength, carbon fiber makes a very
versatile and useful commercial product not just for one or two but a wide range of markets.
Some of the significant factors driving the growth of the Global Carbon Fiber Market are increasing
demand for fuel-efficient and lightweight vehicles and increasing usage of carbon fiber in the aerospace
and defense sector. The surge in demand in sports and leisure applications, especially in the Asia Pacific
region, is also likely to increase the product scope.
The competitive landscape of the carbon fiber market is fairly consolidated due to the presence of very
few well-established players.
Global Carbon Fiber Market has been segmented on the Basis of Product Type, Form, Raw Material,
End-Use Industry and Region. Classification of Carbon Fiber Market has been sub segmented into
Automotive Aerospace & defense, Sporting Goods, Wind Energy, Civil Engineering, Pipe & Tank, Marine,
Electrical & Electronics, Others. The aerospace & defense end-use application has been estimated to
have the largest market share in terms of value & volume in 2018. This is due to the established and
proven applications of carbon fiber based composite parts in aircraft applications.
Regionally, Owing to a thriving construction and automotive industry, Asia Pacific is anticipated to
remain the most profit-making region because of the increase in urbanization and industrialization.
However, the demand for carbon fiber for aerospace industries is mainly from North America.