Global Carbon Fibre Market: By Raw Material: Pan-Based Carbon Fibre, Pitch-Based Carbon Fibre and Rayon-Based Carbon Fibre; By Type: Continuous Carbon Fibre, Others; By Form; By End Use; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments

Global Carbon Fibre Market Outlook  

The global carbon fibre industry attained a value of about USD 3,415 million in 2021. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 11.9% to reach USD 6,704 million by 2027.

 

Europe is Expected to Lead the Market During the Forecast Period

Europe is expected to dominate the carbon fibre market due to the presence of established automotive, aerospace, defence, and wind energy industries. Companies such as BMW, Mercedes, Fiat, and Ferrari, among others, are emphasising on building low emission, environment friendly cars, low-weight, and fuel-efficient products which will directly increase the consumption of carbon fibre. Demand for aerospace is increasing due to rising demand for commercial aviation on account of increased disposable income and globalisation. Europe has many offshore wind energy installations, especially in the United Kingdom and Germany.

 

Global Carbon Fibre Market

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Impact of COVID-19 on the Carbon Fibre Industry

The COVID-19 pandemic has disrupted the growth of the carbon fibre industry. The production of various industries such as automotive, aerospace, and construction, among others, have been disrupted. Supply chain and operations management had been adversely affected due to lockdowns and restrictions, especially in 2020. The production and sales of motor vehicles had come to a sudden halt in most parts across the world. The aerospace and defence industry, major end-user of the product, took a major hit in 2020, due to COVID-19. Demand for commodities have decreased, manufacturers from major sectors require less carbon fibres.

 

Carbon Fibre: Market Segmentation

Carbon fibre, also known as graphite fibre, is a composition of carbon atoms bonded together to form a long chain. They are about 5 to 10 micrometres in diameter. The carbon atoms are bonded together in crystals, aligned parallel to the long axis of the fibre as the crystal alignment gives the fibre a high strength-to-volume ratio. Thousands of fibres are bundled together to form a tow, which can be used by itself or woven into fabric. High stiffness, high tensile strength, low weight to strength ratio, high chemical resistance, high temperature tolerance, and low thermal expansion are some of the advantages of carbon fibres. These properties make it an ideal manufacturing material for various parts. The properties of a carbon fibres are close to that of steel and the weight is close to that of plastic. However, it is expensive compared to other fibres, such as plastic fibre, basalt fibre, or glass fibres.

The market can be broadly categorised on the basis of its raw material into:

  • Pan-Based Carbon Fibre
  • Pitch-Based Carbon Fibre and Rayon-Based Carbon Fibre

The major types of carbon fibre are:

  • Continuous Carbon Fibre
  • Long Carbon Fibre
  • Short Carbon Fibre

The market can be broadly categorised on the basis of its end-use segments into:

  • Aerospace and Defence 
  • Sports/Leisure
  • Wind Turbines 
  • Moulding and Compounds 
  • Automotive 
  • Pressure Vessels 
  • Civil Engineering 
  • Marine 
  • Pultrusion Misc. 
  • Misc. Consumer 
  • Sailing/Yacht Building
  • Others

The major forms of carbon fibre are:

  • Polymer Matrix Composites (PMC)
  • Metal Matrix Composites (MMC)
  • Ceramic Matrix Composites (CMC)

The EMR report looks into the regional markets of carbon fibre like North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

 

Wide Applicability of Carbon Fibre in Major Industries is Driving the Market

Carbon fibres are lightweight, have tensile strength and impact resistance, which makes them fuel efficient and reliable for the use in aerospace and defence, sports, wind turbines, automotive, and among others. Wind turbines use carbon fibres because of the high tensile strength of carbon fibre which enables the wind turbines to withstand harsh weather conditions and lower weight enhances efficiency, consumption, and demand for renewable energy. Carbon fibre industry receives huge demand from the automotive sector owing to its superior strength-to-weight ratio which leads to weight reduction and increased fuel efficiency without compromising on the performance or safety. Carbon fibre is used in defence equipment. Polyacrylonitrile is the most versatile precursor for carbon fibre. Also known as Creslan 61, it is a synthetic semi-crystalline polymer resin. Almost 90% of carbon fibre is produced using PAN, propelling the demand for carbon fibre. Aerospace application segment contributed significantly towards the overall market share in terms of revenue as PAN-based carbon fibres make aircraft fuel-efficient. Pitch-based carbon fibres are increasingly used in satellite manufacturing. 3D printing also makes extensive use of carbon fibre.

 

Key Industry Players in the Global Carbon Fibre Market

The report presents a detailed analysis of the following key players in the global carbon fibre industry, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • SGL Carbon
  • Hexcel Corporation
  • Hyosung Advanced Materials
  • Mitsubishi Chemical Carbon Fiber and Composites, Inc.
  • Nippon Steel Chemical & Material Co., Ltd.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Raw Material, Type, Form, End Use, Region
Breakup by Raw Material Pan-Based Carbon Fibre, Pitch-Based Carbon Fibre and Rayon-Based Carbon Fibre
Breakup by Type Continuous Carbon Fibre, Long Carbon Fibre, Short Carbon Fibre
Breakup by Form Polymer Matrix Composites (PMC), Metal Matrix Composites (MMC), Ceramic Matrix Composites (CMC)
Breakup by End Use Aerospace and Defense, Sports/Leisure, Wind Turbines, Moulding and Compounds,
Automotive, Pressure Vessels, Civil Engineering, Marine, Pultrusion Misc., Misc. Consumer, Sailing/Yacht Building, Others
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered SGL Carbon, Hexcel Corporation, Hyosung Advanced Materials, Mitsubishi Chemical Carbon Fiber and Composites, Inc., Nippon Steel Chemical & Material Co., Ltd., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Carbon Fibre Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Carbon Fibre Historical Market (2018-2022) 
    8.3    Global Carbon Fibre Market Forecast (2023-2028)
    8.4    Global Carbon Fibre Market by Raw Material
        8.4.1    Pan-Based Carbon Fibre
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    Pitch-Based Carbon Fibre and Rayon-Based Carbon Fibre
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
    8.5    Global Carbon Fibre Market by Type
        8.5.1    Continuous Carbon Fibre
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Long Carbon Fibre
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Short Carbon Fibre
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2018-2022)
            8.5.3.3    Forecast Trend (2023-2028)
    8.6    Global Carbon Fibre Market by Form
        8.6.1    Polymer Matrix Composites (PMC)
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022)
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Metal Matrix Composites (MMC)
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022)
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Ceramic Matrix Composites (CMC)
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022)
            8.6.3.3    Forecast Trend (2023-2028)
    8.7    Global Carbon Fibre Market by End Use
        8.7.1    Aerospace and Defense
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2018-2022)
            8.7.1.3    Forecast Trend (2023-2028)
        8.7.2    Sports/Leisure
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2018-2022)
            8.7.2.3    Forecast Trend (2023-2028)
        8.7.3    Wind Turbines
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2018-2022)
            8.7.3.3    Forecast Trend (2023-2028)
        8.7.4    Moulding and Compounds
            8.7.4.1    Market Share
            8.7.4.2    Historical Trend (2018-2022)
            8.7.4.3    Forecast Trend (2023-2028)
        8.7.5    Automotive
            8.7.5.1    Market Share
            8.7.5.2    Historical Trend (2018-2022)
            8.7.5.3    Forecast Trend (2023-2028)
        8.7.6    Pressure Vessels
            8.7.6.1    Market Share
            8.7.6.2    Historical Trend (2018-2022)
            8.7.6.3    Forecast Trend (2023-2028)
        8.7.7    Civil Engineering
            8.7.7.1    Market Share
            8.7.7.2    Historical Trend (2018-2022)
            8.7.7.3    Forecast Trend (2023-2028)
        8.7.8    Marine
            8.7.8.1    Market Share
            8.7.8.2    Historical Trend (2018-2022)
            8.7.8.3    Forecast Trend (2023-2028)
        8.7.9    Pultrusion Misc.
            8.7.9.1    Market Share
            8.7.9.2    Historical Trend (2018-2022)
            8.7.9.3    Forecast Trend (2023-2028)
        8.7.10    Misc. Consumer
            8.7.10.1    Market Share
            8.7.10.2    Historical Trend (2018-2022)
            8.7.10.3    Forecast Trend (2023-2028)
        8.7.11    Sailing/Yacht Building
            8.7.11.1    Market Share
            8.7.11.2    Historical Trend (2018-2022)
            8.7.11.3    Forecast Trend (2023-2028)
        8.7.12    Others
    8.8    Global Carbon Fibre Market by Region       
        8.8.1    North America
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2018-2022) 
            8.8.1.3    Forecast Trend (2023-2028)
        8.8.2    Europe
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2018-2022) 
            8.8.2.3    Forecast Trend (2023-2028)
        8.8.3    Asia Pacific
            8.8.3.1    Market Share
            8.8.3.2    Historical Trend (2018-2022) 
            8.8.3.3    Forecast Trend (2023-2028)
        8.8.4    Latin America
            8.8.4.1    Market Share
            8.8.4.2    Historical Trend (2018-2022) 
            8.8.4.3    Forecast Trend (2023-2028)
        8.8.5    Middle East and Africa
            8.8.5.1    Market Share
            8.8.5.2    Historical Trend (2018-2022) 
            8.8.5.3    Forecast Trend (2023-2028) 
9    North America Carbon Fibre  Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Carbon Fibre Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Carbon Fibre Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Carbon Fibre  Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Carbon Fibre Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    SGL Carbon
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Hexcel Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Hyosung Advanced Materials
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Mitsubishi Chemical Carbon Fiber and Composites, Inc.
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Nippon Steel Chemical & Material Co., Ltd. 
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Carbon Fibre Market: Key Industry Highlights, 2018 and 2028
2.    Global Carbon Fibre Historical Market: Breakup by Raw Material (USD Million), 2018-2022
3.    Global Carbon Fibre Market Forecast: Breakup by Raw Material (USD Million), 2023-2028
4.    Global Carbon Fibre Historical Market: Breakup by Type (USD Million), 2018-2022
5.    Global Carbon Fibre Market Forecast: Breakup by Type (USD Million), 2023-2028
6.    Global Carbon Fibre Historical Market: Breakup by Form (USD Million), 2018-2022
7.    Global Carbon Fibre Market Forecast: Breakup by Form (USD Million), 2023-2028
8.    Global Carbon Fibre Historical Market: Breakup by End Use (USD Million), 2018-2022
9.    Global Carbon Fibre Market Forecast: Breakup by End Use (USD Million), 2023-2028
10.    Global Carbon Fibre Historical Market: Breakup by Region (USD Million), 2018-2022
11.    Global Carbon Fibre Market Forecast: Breakup by Region (USD Million), 2023-2028
12.    North America Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2022
13.    North America Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Europe Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Europe Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Asia Pacific Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Asia Pacific Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Latin America Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2022
19.    Latin America Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2023-2028
20.    Middle East and Africa Carbon Fibre Historical Market: Breakup by Country (USD Million), 2018-2022
21.    Middle East and Africa Carbon Fibre Market Forecast: Breakup by Country (USD Million), 2023-2028
22.    Global Carbon Fibre Market Structure

Key Questions Answered in the Report

In 2021, the global carbon fibre market attained a value of nearly USD 3,415 million.

The market is projected to grow at a CAGR of 11.9% between 2023 and 2028.

The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 6,704 million by 2026.

Properties like lightweight, tensile strength, impact resistance, making it fuel efficient and reliable for the use in various industries is driving the carbon fibre market.

The increasing trend of recycled carbon fibre is providing lucrative opportunities for the market over the forecasted period.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Europe accounting for the largest share in the market.

Continuous carbon fibre, long carbon fibre, and short carbon fibre are the dominant type in the industry.

The applications of carbon fibre are aerospace and defence, sports/ leisure, wind turbines, moulding and compounds, automotive, pressure vessels, civil engineering, marine, pultrusion misc., misc. consumer, and sailing/ yacht building, amongst others.

On the basis of raw material, the market can be divided into pan-based carbon fibre, pitch-based carbon fibre, and rayon-based carbon fibre.

Polymer matrix composites (PMC), metal matrix composites (MMC), and ceramic matrix composites (CMC) are the forms of carbon fibre.

The major players in the industry are SGL Carbon, Hexcel Corporation, Hyosung Advanced Materials, Mitsubishi Chemical Carbon Fiber and Composites, Inc., and Nippon Steel Chemical & Material Co., Ltd., among others.

Analyst Review

The global carbon fibre market attained a value of USD 3,415 million in 2021, driven by the rising prevalence of carbon fibres in various industries. Aided by the growing application, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 11.9%. The market is projected to reach USD 6,704 million by 2027.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. On the basis of raw material, the market can be divided into pan-based carbon fibre, pitch-based carbon fibre, and rayon-based carbon fibre. Based on its form, the carbon fibre industry can be segmented into composite polymer matrix composites (PMC), metal matrix composites (MMC), and ceramic matrix composites (CMC). On the basis of end users, the aerospace and defence sector accounts for the leading share in the industry. Based on its type, the carbon fibre industry can be segmented into continuous carbon fibre, long carbon fibre, and short carbon fibre, among others, with continuous carbon fibre accounting for the largest market share. The major regional markets for carbon fibre are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with North America accounting for the largest share of the market. The key players in the above market include SGL Carbon, Hexcel Corporation, Hyosung Advanced Materials, Mitsubishi Chemical Carbon Fiber and Composites, Inc. and Nippon Steel Chemical & Material Co., Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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