Wide range of application in aerospace and defense, wind energy and automotive industries are driving the demand for the market.

The global  Carbon Fibers market  is forecast to reach USD 12.06 Billion by 2028, according to a new report by Reports and Data. Carbon Fiber, sometimes known as graphite fiber, is a very strong and lightweight polymer. It is five-times stronger and twice as stiffer than steel. The fiber is lighter than steel, which makes it ideal for manufacturing material for many parts.

The polymer is made of strong, thin crystalline filaments of carbon and is used to strengthen any material. The fiber can be thinner than a strand of human hair, and it gets the strength when twisted together like a yarn. Carbon fibers can be woven together to manufacture cloth and take it can take a permanent shape when laid over a mold and coated in plastic or resin.

Europe held the largest market share. The region has the presence of major recycled manufacturers such as ELG Carbon Fiber Ltd., Procotex Corporation SA, Alpha Recycling Composites, and SGL Carbon. The development in the region is supported by advancement and penetration of composites technology and its utilization in pipe tank, aerospace defense, automotive transportation, construction infrastructure, and wind energy industries. The government in the region is focusing on the usage of environment-friendly products. This is further augmenting market growth.

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The report puts an emphasis on the information regarding the key players with a special focus on their company profile, business overview, recent advancements, product catalog, and strategic business plans. It provides a comprehensive overview of the strategic alliances in the market under taken by the key players such as mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, product launch, brand promotions, and corporate deals, among others.

Key companies operating in the market and profiled in the report include:

Teijin Limited, Toray Industries Inc., Mitsubishi Rayon Co., Ltd., SGL Group, Formosa Plastics Corporation, Hexcel Corporation, Solvay, Formosa Plastics Corporation, Dowaksa, and Jiangsu Hengshen Co. Ltd., among others.

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The Carbon Fibers market takes into account major geographical locations such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa to offer key insights into market growth, market size, market share, revenue growth, current and emerging trends, supply and demand ratio, import/export, consumer demand and behavior, and presence of key players in each region. The report offers an in-depth country wise analysis to impart better understanding of the market and its growth prospects.

Segments Covered in the report

Raw Materials Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

• Pan-Based Carbon Fibers
• Pitch-Based Carbon Fibers
• Rayon-Based Carbon Fibers

Fiber Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

• Virgin Carbon Fibers
• Recycled Carbon Fibers

Industry Verticals Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)

• Sports/Leisure
• Automotive
• Aerospace and Defense
• Wind Energy
• Civil Engineering
• Marine
• Electrical Electronics
• Pipe and Tank
• Others

Key Regions Analyzed in the Report includes:

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• UK
• Italy
• France
• BENELUX
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• South Korea
• Rest of APAC
• Latin America
• Brazil
• Rest of LATAM
• Middle East Africa
• Saudi Arabia
• UAE
• South Africa
• Rest of MEA

Furthermore, it consists of information about individual segment of the Carbon Fibers market based on the types and application. The report also offers insights about the key segments expected to register significant revenue growth over the forecast period and primary trends influencing their growth. It also offers CAGR and market share values ​​for each segment to provide clear understanding of demand and trend in the global market.

Further key findings from the report suggest

• The recycled carbon fibers are similar to virgin carbon fibers. It is commonly used in automotive and transportation. The superior properties of the polymer, such as flexural strength, high strength-to-weight ratio, tensile strength, and cost-effectiveness, are driving its demand among various end-users.
• Aircraft manufacturers are taking several initiatives to intensify the standards for environmental management in the discarding of end-of-life aircraft parts. Moreover, Boeing made an agreement with ELG Carbon Fibers to supply its composite scrap to the company.
• Pitch-based carbon fibers have various end-uses due to their high strength. These polymers are used in the aerospace industry due to their high modulus and high price. These fibers could be used within the sports and automotive industries, but the cheaper PAN-based products provide a high strength for these applications.
• Carbon fibers consist of fibers, which consists of less than 92% carbon. Some parallel filaments are clubbed together to form a single tow. Fibers having filaments up to 24,000 are known as small tow.
• Small tow fibers are commonly known in the aerospace industry due to high tensile strength and modulus when used for manufacturing composites, which are applicable in several end-use. Small-tow fibers are more expensive than large tow-fibers.
• The market in North America is growing with the increase in research and development in the aerospace and defense sector. High demand for commercial aviation on account of globalization and increased disposable income is driving the market in the region. The surge in demand for sports and leisure applications is also impacting the market.

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