A new Report by Delvens, titled "Carbon Fiber Market” offers a comprehensive analysis of the industry, which comprises insights on the Global analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The carbon fiber market was valued at USD 2589.46 million in 2020, and the market is projected to register a CAGR of 5.9% during the forecast to 2028
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Carbon fibers are fibers about 5–10 micrometres in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages including high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance and low thermal expansion.
These properties have made carbon fiber very popular in aerospace, civil engineering, military, and motorsports, along with other competition sports.
Increasing demand from wind energy and aerospace & defence industries is the factor that has supported long-term expansion for Carbon Fiber Market.
Key Players of Carbon Fiber Market:
· Toray Indusries
· Teijin Limited
· SGL Carbon
· Mitsubishi Chemical Holdings
· Hexcel Corporation
· Solvay and More
Regional Analysis
Europe held the largest market share in the carbon fiber market and is expected to lead the carbon fiber market during the forecast period. Europe is a key carbon fiber market. The aerospace & defence industry in the region is at the forefront of innovation with the successful launch of Airbus A320 family and Eurofighter.
The low interest rate for corporate income tax and growth in the aerospace & defence industry in the region have helped carbon fiber manufacturers to penetrate this industry in the region.
Recent Developments
In February 2021, Teijin Limited announced its new Tenax PW (power series) and Tenax BM (beam series) brands of carbon fiber intermediate materials for sports applications. Tenax PW is an advanced aircraft-quality material that helps to maximize power and speed thanks to its exceptional durability and toughness.
In July 2020, Toray Industries, Inc., announced that it had an agreement with Lilium GmbH to supply carbon fiber and composite materials for the Lilium Jet. Lilium is developing all-electric, vertical take-off and landing aircraft to deliver clean, regional air mobility by 2025. Carbon fiber composite materials are vital to lighten such vehicles as the Lilium Jet.
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In addition to the market data for Carbon Fiber Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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