Lucintel's latest market report analyzed that carbon fiber provides attractive opportunities in the aerospace, industrial, and sporting goods end uses. The carbon fiber market is expected to reach $5.3 billion by 2028 with a CAGR of 6.8%. In this market, pan is the largest segment by precursor type, whereas industrial is largest by end use industry. The emergence of new applications and initiatives to innovate and commercialize the use of alternative precursors to reduce the manufacturing costs of carbon fiber provides strategic growth path in this market.
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Based on precursor type, the carbon fiber market is segmented into pan and pitch. The pan segment accounted for the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period, due to its wide application area in transportation, aerospace/defense, and wind energy industries.
Browse in-depth TOC on “Carbon Fiber Market”
113 – Tables
119 – Figures
306 – Pages
The Carbon Fiber Market is marked by the presence of several big and small players. Some of the prominent players offering carbon fiber include Toray Industries Inc., Hexcel Corporation, Mitsubishi Rayon Corporation Limited, Cytec Solvay Group, SGL Carbon Group, Teijin Limited, Formosa Plastics Corporation, DowAksa, Hyosung Corporation, Nippon Graphite Fiber Corporation, Kureha Corporation, Osaka Gas Chemical Corporation Ltd., Dalian Xingke Carbon Fiber Co., Jilin Jiyan High-Tech Fibers, Anshan Sinocarb Carbon Fibers Co., Ltd., Sinosteel Jilin Carbon Co., Ltd., WeihaiTuozhan Fiber, Zhongheng New Material, ZhongfuShenying Carbon Fiber Co., Ltd., and Jiangsu Hengshen Fiber Materials Co., Ltd.
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