The report encompasses a thorough study of current situation of the global market along with several market dynamics Competitor analysis is one of the most important aspects of market research report which helps businesses decide upon the strategies by comparing them with the competitors. The use of newest and advanced tools and techniques used for this report makes it the finest in the class. Competitor strategies highlighted in this Global Carbon Fiber Market report mainly include new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others that boost their footprints in this market.
The Global Carbon Fiber Market accounted for USD 25.7 billion in 2016 and projected to grow at a CAGR of 11.10% during the forecast period of 2019 to 2026. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2019 to 2026.
Carbon fiber is a black, smooth, and light-weighted textile fibers, it is specially used due to its lightness and strength at high temperature for reinforcing resins, ceramics, and metals, mainly in turbine blades and for fishing rods. It has its wide application in Aerospace & Defense, Wind Energy, Automotive, and others. Increase in demand for fuel-efficient vehicles may act as the major driver in the growth of carbon fiber market.
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Major Key players profiled in this report are:
TORAY INDUSTRIES, INC., TEIJIN LIMITED, Mitsubishi Chemical Holdings Corporation, SGL Group, Formosa Plastics Corporation, Hexcel Corporation, DSK Hyosung Pvt. Ltd., Koninklijke Ten Cate bv., DowAksa, Cytec Solvay Group, TAEKWANG INDUSTRIAL CO.,LTD., Gurit, Plasan Carbon Composites, SK chemicals, Nippon Graphite Fiber Co., Ltd., kemrock, Park Electrochemical Corp, BGF Industries, Inc., Oyster Technology, Crosby Composites, DSM, Aeron Composite Pvt. Ltd., ZhongAo Carbon, Sigmatex Ltd, Holding company “Composite, and others.
Major Market Drivers:
- Increase in the use of carbon fiber and carbon fiber reinforced plastics in boeing and airbus aircraft
- Increase in demand for fuel-efficient vehicles
- Focus on production of electricity from renewable sources
- High cost of carbon fiber composites
- Insufficient production capacity
The global carbon fiber market is segmented on the basis of material type into polyacrylonitrile (Pan-Based) carbon fibers, pitch-based carbon fiber, and rayon-based carbon fiber. The polyacrylonitrile (Pan-Based) carbon fibers segment is sub segmented into pan-based carbon fiber.
On the basis of manufacturing process, the global carbon fiber market is segmented into lay-up process, compression molding process, resin transfer molding process, filament winding process, injection molding process, pultrusion process, and others.
On the basis of resin type, the global carbon fiber market is segmented into thermosetting CFRP, and thermoplastic CFRP. The thermosetting CFRP segment is sub segmented into epoxy, polyester, vinyl ester, and others
The global Carbon fiber market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
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