© 2018 Global Market Insights, Inc. USA. All Rights Reserved Carbon Fiber Market to Witness A Phenomenal Growth over 2018 to 2024

Global Market Scenario of Carbon Fiber Industry © 2018 Global Market Insights, Inc. USA. All Rights Reserved  One of the important sector that will propel the demand for the product is the automotive industry. With growing safety concern, customers are now shifting towards strong automobile bodies from conventional metal bodies. Enhancing living standards of the people in the developed nations will drive the demand for sophisticated sports as well as luxury cars. This will drive the Carbon Fiber Market substantially.Carbon Fiber Market  The Carbon Fiber Market demand rose steadily after the general economic recession in The market is forecast to grow at substantial rate from 2016 to This growth is accounted for the upcoming developments in the fields of aerospace & defense, sporting goods, wind energy, automobiles and even in the market of civil engineering and electronics goods.  Aerospace & defense industry is a major driver for growth in the carbon fiber market. It accounted for approximately a third of the total product market interms of demand and about half of the total market revenue. The revenue in the aerospace and defense industry is forecast to grow till 2024 with increasing air travel in China, Middle East and other emerging nations.  Sports and leisure equipment is finding increased use of carbon fiber and is the second largest market in terms of revenue. With growing awareness about healthy lifestyles and exercising, the demand for sports utilities will have a healthy growth in the next 8 years. The growing market for light bodied combat aircrafts by the military will propel the industry in the upcoming years.

© 2018 Global Market Insights, Inc. USA. All Rights Reserved Product Analysis:- Based on the type of industry, carbon fiber finds major use in aerospace & defense industry, wind energy sector, sports equipment industry, automotive industry and others. Aerospace industry is the primary end user, of which commercial aerospace sector has the major market share in terms of volume as well as revenue. The wind energy segment has a lot of promise for the market growth owing to increase in global renewable energy demand. Light weight and strong gym equipment and other luxury items will enhance the global demand for carbon fiber by With the focus of leading automobile manufacturers shifting towards weight reduction of the cars, carbon fiber reinforced plastics will find an increasing demand in the forecast period. Regional Trends:- The most demanding region for the industry is North America with an annual production capacity recorded more than third of the global carbon fiber market. With more research and development in the aerospace and defense sector in the US, this demand is forecast to grow in the span from 2016 to The second largest producer is Europe with its commercial as well as military aircraft manufacturing units. The large number of high end automotive industries in Germany and Italy will also influence the carbon fiber market positively.

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© 2018 Global Market Insights, Inc. USA. All Rights Reserved Competitive Trends: The leading manufacturer of carbon fiber in terms of production in 2013 was Toray Industries and recorded over 20 thousand tons of production capacity. Other companies providing competition in this sector are Zoltek, Toho Tenax, Mitsubishi Rayon Co. Ltd., SGL Carbon SE, Formosa Plastics Corp, Hexcel Corporation and others.

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