Carbon Fiber Market Size to Grow by $ 1.87 Billion through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the carbon fiber market and it is expected to grow by $ 1.87 billion, accelerating at a CAGR of almost 8.63% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Carbon Fiber Market: Emerging Trends to Impact Market Growth
Growth by the aerospace and defense segment will be significant during the forecast period. Carbon fiber is extensively used in aerospace and defense applications because of its properties such as low weight, high tensile strength, corrosion and fatigue resistance, and excellent strength and stiffness. The rise in aircraft production will drive the adoption of carbon fiber in the aerospace industry during the forecast period.
North America has been exhibiting a significant growth rate for carbon fiber market vendors. Factors such as the high consumption of carbon fiber in industries such as aerospace, automotive, wind energy, and construction are accelerating the carbon fiber market growth in North America. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Carbon Fiber Market: Vendor Analysis
The market is concentrated due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Formosa Plastics Corp., Hexcel Corp., Mitsubishi Chemical Holdings Corp., Nippon Graphite Fiber Corp., Saudi Basic Industries Corp., SGL Carbon SE, Solvay SA, Teijin Ltd., and Toray Industries Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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