Global Carbon Fiber Market Demand & Forecast Analysis, 2016-2032

Executive Summary : - 

Carbon fiber; also known asgraphite fiber has several advantages like high stiffness, high temperature tolerance,high chemical resistance, high tensile strength, low weight and low thermalexpansion. These properties of carbon fiber are highly useful in civilengineering, aerospace, military and motorsports industries which have improvedthe carbon fiber market significantly. However, carbon fibers are relativelyexpensive than glass fibers or plastic fibers. They are usually impregnatedwith plastic resin or graphite to form composites which have high heattolerance and strength-to-weight ratio.

Global demand for carbon fiberwas estimated to be around 120 kilo tons in 2017. In terms of productioncapacity, Asia-Pacific had more than 45% of the total followed by North Americawith around 35%. After acquisition of Zoltek and few expansions, Toray is thelargest carbon fiber producer globally, with around 64 kilo tons capacity.Carbon fiber composites have also resulted strongly in the growth of carbonfiber market owing to increasing use in the production of aircrafts. Carbon fibermarket in is expected to be driven by growing aircraft/aerospace, defence, windenergy, and automotive industries.

 The growth opportunities forcarbon fiber and other engineering plastics in the automotive industry areprimarily linked with the industry s drive for lower emission and increasedfuel efficiency. Carbon fiber also provides the option of replacement of metalswith plastics to reduce the weight of the vehicle, achieving fuel efficiency.Carbon fibers in coming years are more likely to play an important role acrossthe automotive sectors to help meet the objectives of Paris Climate agreementlike reducing the greenhouse gases in the environment.