DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Growth Opportunities in Global Carbon Fiber Market 2016-2021" report to their offering.
According to a new market report, the future of the global carbon fiber market looks attractive with opportunities in the aerospace, sporting goods, and industrial applications. The global carbon fiber market is forecast to grow at a CAGR of 11.0% by value from 2016 to 2021.
The major growth drivers of this market are growing demand of lightweight material in end-use industries. The other major drivers are increasing penetration of carbon fiber in commercial aircraft (B787 and A380), wind turbine blades, automotive applications and various industrial applications.
In this market, sporting goods, aerospace, and industrial applications are the end use applications of carbon fiber. The author predicts that the demand for industrial application is expected to experience the highest growth in the forecast period, supported by growing wind energy industry and increase demand for lightweight materials in automotive industry.
Within global carbon fiber market, industrial applications are expected to remain as the largest market by volume consumption. Growing demand of lightweight materials in the automotive industry and increased wind turbine blade length is expected to spur growth for this segment over the forecast period.
Based on precursors type, the carbon fiber market can be segment into two types, i.e. PAN (polyacrylonitrile)-based and pitch-based. Pan-based carbon fiber usage is higher by value and volume because of its lower cost than pitch-based.
North America is expected to remain the largest market due to growth in end-use industries and increasing demand of lightweight materials in the aerospace and automotive industries. Rest of World, including Asia Pacific is expected to witness the highest growth over the forecast period due to the anticipated growth in the end-use industries and increasing focus on high performance composite materials.
For market expansion, this report suggests innovation and new product development, where the unique characteristics of carbon fiber can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and development of high performance products for the end-use industries.
Toho Tenax, Toray, SGL, Cytec, Hexcel, Mitsubishi Rayon are among the major suppliers of the carbon fiber.
Scope of the Report
By market segment [Value ($M) and Volume (M lbs) shipment analysis for 2010 - 2021]:
- Sporting Goods
By applications [Value ($M) and Volume (M lbs) shipment analysis for 2010 - 2021]:
- Regional jets
- General Aviation
- Wind energy
- Skis, Snowboards and other winter games
- Fishing pole
By precursors type [Value ($M) and Volume (M lbs) shipment analysis]:
Key Topics Covered:
1. Executive Summary
2. Evolution of Carbon Fiber Market
3. Properties and Price Comparison
4. Carbon Fiber Suppliers
5. Carbon Fiber Market Analysis
6. Market Trends
7. Market Forecast
8. Manufacturing of Carbon Fiber
- Anshan Sinocarb Carbon Fibers Co., Ltd.
- Cytec Industries Inc.
- Dalian Xingke Carbon Fiber Co.
- Donac Co., Ltd.
- Formosa Plastics Corporation
- Hexcel Composites
- Jiangsu Hengshen Fiber Materials Co., Ltd.
- Jiyan High-Tech Fibers
- Kureha Corporation
- Mitsubishi Plastics Composites America, Inc.
- Mitsubishi Rayon Co. Ltd.
- Nippon Graphite Fiber Corporation
- SGL Group - The Carbon Company
- Sinosteel Jilin Carbon Co., Ltd.
- Teijin Ltd.
- Toray Industries Inc.
- Weihai Tuozhan Fiber
- Zhongfu Shenying Carbon Fiber Co., Ltd.
- Zhongheng New Materials
- Zoltek Corp.
For more information visit http://www.researchandmarkets.com/research/n37nxv/growth