The carbon fiber market size is expected to reach USD 11.2 billion by 2026, after growing at a CAGR of 11.5% during the period 2021-2026.
HYDERABAD, TELANGANA, INDIA, Aug. 26, 2022 /EINPresswire.com/ — The carbon fiber market size is expected to reach $11.2 billion by 2026, after growing at a CAGR of 11.5% in during the period 2021-2026. Carbon fiber is a high strength, low weight, high stiffness, electrically conductive material and one of the most corrosion and heat resistant materials. As carbon fiber is used primarily in the reinforcement and reinforcement of concrete, steel, wood and masonry. Additionally, the growing demand for carbon fiber composites in consumer electronics has made the products lighter and thinner, and more textured, which is expected to drive the market growth.
Key points to remember:
1. Europe will continue to hold the majority of total global carbon fiber demand for wind power over the forecast period due to its renewable energy targets and use of carbon fiber. offshore wind capacity.
2. The high price of carbon fiber is one of the factors hindering market growth.
COVID-19 will hamper market growth as the end-use industry is facing slow growth thus reducing the demand for carbon fiber.
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1. Polyacrylonitrile (PAN)-based segment held the largest share of over 65% in the carbon fiber market in 2020. PAN-based component offers various advantages such as low density, strength high, high modulus, high temperature resistance, wear resistance, corrosion resistance, fatigue resistance, creep resistance, electrical conduction, heat conduction and far infrared radiation.
2. The continuous tow segment held the largest share of more than 60% in the carbon fiber market in 2020. The continuous tow is the most widely used tow, owing to its weight, compatibility with resins and the range of sizes available for optimal processing.
3. The continuous towing segment held the largest share of over 60% in the carbon fiber market in 2020.
4. Composites segment held the largest share of more than 55% in 2020 and is expected to be the most widely used application of carbon fiber.
5. Among regions, Europe held the largest share of over 40% in the carbon fiber market in 2020. With countries like UK, France and Germany driving the growth of the market.
The Top 5 Key Players in the Carbon Fiber Market are:
1. Hexcel Corporation
2. Formosa Plastics Corp.
3. TEIJIN Aramid B.V.
4. Hyosung Advanced Materials
5.ESE Carbon Co.
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