San Francisco, California, December 26, 2017: The extensive demand for carbon fiber among manufacturers of durable and lightweight components in a number of end-use industries world over is a primary factor driving the market. In key end-use industries such as the construction, aerospace, sports goods, and wind energy, wide popularity of carbon fiber is attributed to the combination of unique properties, notably amazing strength and light-weight properties. The substantially rising demand for carbon fiber in making a variety of automotive materials is a key factor accentuating the growth of the market. A new report penned by TMR Research, titled, “Carbon Fiber Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, offers comprehensive insights into various trends shaping the current growth dynamics and factors impacting the market over the forecast period of 2017 and 2025.
The substantial demand for manufacturing durable and lightweight components in various end-use industries, including sporting goods, turbines, and automobile parts is a notable factor driving the market. The marked focus of automotive manufacturers to reduce the weight of vehicles with an aim in reducing fuel consumption is a key factor bolstering the demand for carbon fiber in vehicle manufacturing. The intensifying need for reducing weight of passenger cars to improve fuel efficiency in various developing and developed regions is a key factor boosting the market.
The attractive structural profile of carbon fiber materials and their use in various forms are notable factors bolstering the uptake in various manufacturing industries. This is on account of their exceptional strength, flexibility to be molded into any shape, temperature protection and cost-effectiveness.
The combination of carbon fiber with resins and polymers confers on them substantial mechanical strength and make them resistant-corrosion which bodes well for the market. The substantial demand of carbon fiber when mixed with concrete is attributed to their high structural profile. A variety of composites that can be made with carbon fiber and the number of attractive features they have on the end product are contributing to the growth of the market. Furthermore, their substantial demand for repairing aging structures and other applications bodes well for the market.
In recent years, the market has witnessed increased commercialization of carbon fiber and prices have come down significantly in key regional markets, which has bolstered their adoptability. The customization of carbon fiber, coupled with the expanding capacity of key manufactures, is a prominent factor boosting the market.
The rising number of aviation applications of carbon fiber and the growing demand for carbon fiber in business avionics are notable trends expected to accentuate the growth of the market in the coming years.
Regionally, Europe is a prominent market for carbon fiber and the growth of this regional market is fueled by the substantial demand for carbon fiber in various end-use industries. Meanwhile, Asia Pacific is expected to offer promising avenues for market players, led by countries such as China and India. A burgeoning construction industry in various parts of Asia Pacific is a notable factor boosting the market.
A number of prominent players are entering into strategic mergers with OEMs in order to consolidate their positions over the forecast period. Several players are harping on achieving in the economies of scale in carbon fiber production. This bodes well for the market. Furthermore, a number of players are looking to tap opportunities in emerging economies marked by rapid progress in vehicle production in these nations. They are also focusing on harnessing the notable versatility of carbon fibers by expanding their product lines. The advent of high-thermal performance carbon fibers at affordable is a notable development catalyzing the growth of the market.
Prominent players operating in the carbon fiber market include Mitsubishi Rayon Co., Ltd., Teijin Ltd, Cytec Industries, Hexcel Corporation, and Toray Industries.
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