Carbon Fiber Market Size, Opportunities, Share, Top Companies, Growth Analysis, Regional Trends, Key Segments, Graph and Forecast to 2033
The carbon fiber market is projected to grow from USD 7.1 billion in 2023 to USD 23.2 billion by 2033, at a CAGR of 12.6% during the forecast period. Carbon fiber is a material composed mostly of carbon atoms and is made up of thin, strong crystalline filaments of carbon. It is a polymer and is sometimes known as graphite fiber. Carbon fibers have a number of benefits, including high stiffness, high tensile strength, a high strength-to-weight ratio, high chemical resistance, high temperature tolerance, and low thermal expansion. Carbon fiber is created through a chemical and mechanical process that begins with drawing long strands of fiber and then heating them to a very high temperature without oxygen. This is when carbonization occurs, which occurs when the atoms inside the fibers vibrate violently, expelling the majority of the non-carbon atoms. This results in a fiber that is made up of long, tightly interlocked chains of carbon atoms with only a few non-carbon atoms remaining. Carbon fiber is used in many processes to create excellent structural materials and offers a variety of benefits, including being five times stronger than steel and twice as stiff. Carbon fiber is favored in many industries, including aerospace, civil engineering, military, motorsports, and other competition sports.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=396
Major manufacturers in this market are based in Asia Pacific, North America and Europe. Toray Industries Inc., (Japan), Teijin Limited (Japan), Mitsubishi Chemical Group Corporation (Japan), Hexcel Corporation (US), Solvay (Belgium), SGL Carbon (Germany), Hyosung Advanced Materials (South Korea), Zhongfu Shenying Carbon Co., Ltd. (China), Kureha Corporation (Japan), DowAksa (Turkey), Jilin Chemical Fiber Group Co., Ltd. (China), Jiangsu Hengshen Co., Ltd. (China), Anshan Sinoda Carbon Fibers Co., Ltd. (China), and China National Bluestar (Group) Co., Ltd. (China) are among a few leading players operating in the carbon fiber market. Major focus was given to the development of new manufacturing processes for carbon fiber and recent deals due to the changing requirements across the world. These players have adopted various growth strategies to strengthen their position in the market. These include product launches, contracts, partnerships, mergers and acquisitions, and new product development activities to expand their presence in the carbon fiber market further.
Toray Industries Inc. (Japan)
Toray Industries, Inc. is a manufacturer of carbon fiber. The company, through its Carbon Fiber Composites Materials business segment, offers carbon fiber and carbon fiber products. Toray Industries Inc.’s operations are spread across 29 countries, mainly in the Asia Pacific, Europe, and North America. Toray operates through 317 affiliated companies.
The company has focused on the adoption of organic and inorganic strategies to cement its position as the market leader in the carbon fiber market. This includes the various product launches and developments and acquisitions, which have been supported by several contracts, collaborations, and partnerships with businesses from across the world.
Hexcel Corporation (US)
Hexcel Corporation is a leading manufacturer of carbon fiber and carbon fiber composites materials. The company develops, manufactures, and markets lightweight, high-performance materials & structures, including carbon fibers, composites, prepregs, honeycombs, matrix systems, adhesives, and composite structures. These products have applications in the aerospace, defense, automotive, and industrial sectors.
The company outlines long term agreement as one of the key practices for growing its carbon fiber business.
Request Sample Pages: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=396
SGL Carbon (Germany)
SGL Carbon is a global company that manufactures and distributes carbon fibers and composites. The company has a diverse product portfolio, including fine-grain graphite, expanded graphite, carbon fiber-reinforced carbon, woven fabrics and tapes, fiber non-wovens, multiaxial fabrics, prepregs, and felt. The company’s core business units include Carbon Fibers, Composite Solutions, Graphite Solutions, and Process Technology. The company has more than 40 years of experience with carbon fibers and composite materials and employs around 4,700 people across 29 high-performing sites in Europe, North America, and Asia Pacific.
Read Our Trending Press Release Below:
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/carbon-fiber-396.html
