The global Carbon Fibers market is forecast to grow at a rate of 10.6% in terms of value, from 2020 to reach USD 12.06 Billion by 2028, according to a new report by Reports and Data. Carbon fibers are a thin, long strand of material made from carbon. The Content of carbon is more than 90% for standard modulus carbon and approximately 100% for high modulus carbon fiber. It is produced by baking precursors such as pitch, rayon, PAN, or other organic fiber in an inert atmosphere to dissociate elements other than carbon.
The market for carbon fibers is gaining momentum because of a number of factors like rise in demand for fuel-efficient vehicles and the launch of new products. Additionally, the government is putting stress on encouraging the wind energy industry and propelling the usage of materials that are utilized to manufacture composite parts of aircraft. Expensive rates and insufficient product capability of these fibers are limiting the growth of the market. Moreover, once there a dint or a crack in the product, it is not recyclable and cannot be fixed.
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Different businesses in the chemicals and materials industries differ in size, geography, business style, and end-market focus. These businesses are part of a larger ecosystem that includes oil, gas, coal, minerals, and bio-based products as raw materials on one hand and a wide range of application industries on the other. It is traditional to divide the chemical industry into three major categories: petrochemicals, diversified manufacturers, and specialized industries.
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Moreover, the report provides insight into how the Carbon Fibers market will develop between 2023 and 2028. Companies operating in the Carbon Fibers market can benefit from the in-depth dynamics presented in the report, thereby making strategic development decisions that will help them succeed. During the forecast period, the Carbon Fibers market is expected to undergo significant changes that will highly configure its growth.
Furthermore, the report highlights the growth prospects of the Carbon Fibers market and estimates market progress in terms of value (USD million) and volume (thousand units).
Teijin Limited, Toray Industries Inc., Mitsubishi Rayon Co., Ltd., SGL Group, Formosa Plastics Corporation, Hexcel Corporation, Solvay, Formosa Plastics Corporation, Dowaksa, and Jiangsu Hengshen Co. Ltd., among others.
Raw Materials Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Pan-Based Carbon Fibers
- Pitch-Based Carbon Fibers
- Rayon-Based Carbon Fibers
Fiber Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Virgin Carbon Fibers
- Recycled Carbon Fibers
Industry Verticals Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2020-2028)
- Aerospace and Defense
- Wind Energy
- Civil Engineering
- Electrical & Electronics
- Pipe and Tank
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Key Questions Answered in This report on the Carbon Fibers Market
The report provides detailed information about the Carbon Fibers market on the basis of comprehensive research on various factors that play a key role in accelerating the growth potential of the market. The information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the Carbon Fibers market, so as to help them formulate successful strategies and take target-driven decisions.
- How are key market players successfully earning revenue from the advantages of the product?
- What will be the Y-o-Y growth of the Carbon Fibers market between 2023 and 2028?
- What are the winning imperatives of market frontrunners in the Carbon Fibers market?
- Which end-user is expected to undertake maximum adoption of the product during the forecast period?
Research Methodology: Carbon Fibers Market
The research methodology adopted by analysts to compile the Carbon Fibers market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Carbon Fibers market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through interviews with genuine resources, analysts have emphasized the changing scenario of the Carbon Fibers market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, import and export data of major countries around the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Carbon Fibers market.
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