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Value of Carbon Fiber Market estimated at US$ 4.5 Bn by 2031, TMR Study

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News provided by

Transparency Market Research

07 Jul, 2022, 15:30 GMT

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  • Strong leaning of aerospace engineers to use carbon fiber composites to design dream planes opens lucrative opportunities
  • Advantage of low weight of carbon fiber enables longer blades and increased energy capture at low wind locations to witness immense demand for wind energy generation

WILMINGTON, Del., July 7, 2022 /PRNewswire/ -- Analysts at TMR estimate the carbon fiber market to expand at a CAGR of 6.8% for the forecast period from 2022 to 2031. Demand for carbon fiber from engineers and designers for the manufacture of specialized high-performance products such as racecars, aircraft, and sporting equipment fuels the growth of carbon fiber market.

Carbon fiber features excellent strength and stiffness to find use in diverse high-performance applications across several end-use industries. Prospects of rising demand for carbon fiber in building & construction for products for maintenance and repair work is anticipated to shape carbon fiber market trends in the upcoming years. Furthermore, investments in R&D to develop carbon fiber material for applications in various fields such as water treatment and electrochemistry are emerging trends in the carbon fiber market.

Asia Pacific held 33.1% share of carbon fiber market in 2021. The carbon fiber market of the region is anticipated to expand at a CAGR of 7.5% during the forecast period on the back of high demand for carbon fiber composites from wind energy and automotive industries in the region.

Get PDF Brochure for More Insights – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=119 

Carbon Fiber Market – Key Findings of the Report

  • Demand analysis of carbon fiber market reveals polyacrylonitrile is used for nearly 90% of carbon fiber produced with the remaining 10% composed of rayon or petroleum pitch
  • Carbon fiber market outlook is promising with critical advantages of carbon fiber to boost fuel efficiency of vehicles while maintaining safety and performance. Carbon fiber features highest strength and stiffness per density to make it ideal for high-performance, track-focused vehicles wherein each pound shed can translate to increase acceleration and top speed.
  • Potential of carbon fiber to overtake metal as the preferred structural material for aircraft to serve superior aerodynamics, fewer component requirement, and lower fuel cost requirements to create ample opportunities in carbon fiber market. So much so, aerospace engineers use carbon fiber composite materials to design their dream planes for its desired versatility.

Get Covid 19 Analysis - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=119 

  • Increasing demand for carbon fiber composites from commercial airlines to build aircraft bodies to create new growth frontiers in the carbon fiber market. Airbus A350 XWB and Boeing 787 Dreamliner are two commercially flying aircraft that use carbon fiber composites.
  • Superior characteristics of high strength, stiffness, and low density make carbon fiber-based composites sought-after for wind turbines. Significant difference in weight of wind blades composed of carbon fiber than the ones composed of traditional fiberglass enables carbon fiber blades to be longer than fiberglass ones and serve to be suitable for locations with low wind. Extended lifetime due to high fatigue resistance for wind generation to open largest opportunity for carbon fiber market in the years ahead.
  • North America carbon fiber market is anticipated to display marginal increase in share from 32.04% in 2021 to 33.03% in 2031. Demand for carbon fiber from the aerospace industry contributes substantially to the growth of carbon fiber market of the region.

Request a Sample – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=119 

Carbon Fiber Market – Growth Drivers

  • Demand for carbon fiber for diverse high-performance applications owing to an array of unique properties such as high stiffness, lightweight, high chemical resistance, and high temperature tolerance fuels the growth of carbon fiber market
  • Critical role of carbon fiber to boost the fuel economy of modern automobiles to reduce carbon footprint creates ample opportunities in carbon fiber market

Make an Enquiry Before Buying – https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=119 

Carbon Fiber Market – Key Players

Some of the prominent players operating in the carbon fiber market are;

  • Formosa Plastics Corp.
  • Toray Industries Inc.
  • Mitsubishi
  • Hexcel Corporation
  • Teijin Carbon
  • SGL Carbon

The carbon fiber market is segmented as follows;

Carbon Fiber Market, by Product

  • PAN-based
  • Pitch-based
  • Others

Carbon Fiber Market, by Technology

  • Prepreg Layup
  • Pultrusion
  • Winding
  • Press & Injection Molding
  • Others

Carbon Fiber Market, by Application

  • Residential Construction
  • Non-residential Construction
    • Automotive & Transportation
      • Interior
      • Exterior
      • Others
    • Construction
  • Aerospace & Defense
  • Sports & Leisure
  • Marine and Oil & Gas
  • Wind Energy
  • Others

Carbon Fiber Market, by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Browse More Chemicals & Materials Market Research Reports by TMR:

Butyric Acid Derivatives Market - Butyric Acid Derivatives Market is likely to register a CAGR of 7.2% during the forecast period and is anticipated to reach a butyric acid derivatives market share of US$ 1.4 Bn by 2031

Naphthenic Base Oil Market - Naphthenic Base Oil Market is likely to register a CAGR of 3.9% during the forecast period and is anticipated to reach a naphthenic base oil market share of US$ 3.6 Bn by 2031

Silicone Rubber Market - Silicone Rubber Market is likely to register a CAGR of 5.52% during the forecast period and is anticipated to reach a silicone rubber market share of US$ 2.6 Bn by 2031

Soft Magnetic Composite Market - Soft Magnetic Composite Market is likely to register a CAGR of 7.2% during the forecast period and is anticipated to reach a soft magnetic composite market share of US$ 9.8 Bn by 2031

Glass Reinforced Epoxy (GRE) Pipes Market - Glass Reinforced Epoxy (GRE) Pipes Market is likely to register a CAGR of 4.8% during the forecast period and is anticipated to reach a glass reinforced epoxy (GRE) pipes market share of US$ 2.9 Bn by 2031

U.S. Antimicrobial Plastics Market - U.S. Antimicrobial Plastics Market is likely to register a CAGR of 5.5% during the forecast period and is anticipated to reach a U.S. antimicrobial plastics market share of US$ 1.8 Bn by 2031

Polyurethane (PU) Dispersions (Aqueous and Solvent) Market - Polyurethane (PU) Dispersions (Aqueous and Solvent) Market is likely to register a CAGR of 5.5% during the forecast period and is anticipated to reach a polyurethane (pu) dispersions (aqueous and solvent) market share of 779.3 Kilo Tons by 2031

EVA Resins & Films Market - EVA Resins & Films Market is likely to register a CAGR of 5% during the forecast period and is anticipated to reach a EVA resins & films market share of US$ 7.4 Bn by 2031

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.

Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.

For More Research Insights on Leading Industries, Visit our YouTube channel - https://www.youtube.com/channel/UC8e-z-g23-TdDMuODiL8BKQ

Contact Us:

Rohit Bhisey
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com   
Blog: https://tmrblog.com    
Email: sales@transparencymarketresearch.com

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

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