Lucintel Forecasts Carbon Fiber Market to Reach $2.8 Billion by 2025

According to the recent study the carbon fiber market is projected to reach an estimated $2.8 billion by 2025 from $2.6 billion in 2019, at a CAGR of 0.9% from 2020 to 2025. Growth in this market is primarily driven by growing demand for high performance and lightweight composite materials and increasing performance requirements in the end use industries.

Browse 157 figures / charts and 142 tables in this 215 -page report to understand trends, opportunities and forecast in carbon fiber market by end use industry (aerospace, industrial and sporting goods), precursor type (PAN, and pitch), tow size (small tow (less than equal to 24k), and large tow (more than 24k), modulus (standard, intermediate, and high), and region (North America, Europe, and the Rest of the World (including Asia Pacific)).

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“Aerospace market is expected to remain the largest segment during the forecast period.”

Based on end use industry, the carbon fiber market is segmented into aerospace, industrial and sporting goods. Lucintel forecasts that the aerospace market is expected to remain the largest segment end use industry and the industrial segment will witness the highest growth during the forecast period due increasing demand for high performance lightweight materials in the automotive industry and growing demand for carbon composites in wind turbine with the increasing length of wind blades are driving market growth over the forecast period.

“Within the carbon fiber market, the small tow (less than equal to 24k) segment is expected to remain the largest tow size”

Based on tow size the small tow (less than equal to 24k) segment is expected to witness the highest growth over the forecast period due of its increasing use in the industrial applications.

“North America will dominate the carbon fiber market in near future”

North America is expected to be the largest region with the highest growth over the forecast period due to demand from the industries of aerospace, automotive, and wind energy.

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Major players of carbon fiber market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Toray, Mitsubishi, Teijin, Hexcel, SGL, and Cytec Solvay Group are among the major Carbon fiber providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/carbon-fiber-market.aspx  or helpdesk@lucintel.com