Carbon Fiber Market Size, Share & Industry Analysis Forecast to 2032

Global Carbon Fiber Market Trends, Growth & Forecast 2032 According to Fortune Business Insights the global carbon fiber market size was valued at USD 2.65 billion in 2023 and is projected to grow from USD 2.82 billion in 2024 to USD 6.54 billion by 2032, exhibiting a CAGR of 11.1% during the forecast period. Carbon fiber is produced from carbon atoms with five to ten micrometers diameter. It is also called graphite fiber. These fibers have superior properties such as low thermal expansion, high stiffness, high-temperature tolerance, high-tensile strength, high strength-to-weight ratio, and higher chemical resistance. These excellent properties of the product made it a matter of choice in defense, aerospace, construction, automotive, sports applications, and wind turbines. Increasing demand for lightweight vehicles and rising automotive demand will drive the market growth. Fortune Business Insights provide this information in its report titled "Carbon Fiber Market, 2025- 2032." Get a Free Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/carbon-fiber-market- 101719 Segmentations Analysis: Polyacrylonitrile Segment to Lead the Market Share during the Forecast Period On the basis of precursor, the market is divided into pitch and PAN (polyacrylonitrile). The PAN segment held a reasonable share of the market in 2022 and is expected to lead during the forecast period, owing to growing demand from end-use industries. The increasing demand for PAN-based graphite fiber is attributed to its properties, including high modulus, better fiber quality, cost- effectiveness, and high tensile strength. Small Tow Segment to Lead due to Growing Adoption in the Aerospace & Defense Industry

According to tow, the market is fragmented into small tow and large tow based on tow. The small tow segment accounted for the largest share in 2022. It is widely used in aerospace and defense due to its tensile strength and high modulus. Large tow fibers also held a reasonable share of the market, which is predicted to grow in the near future. Aviation, Aerospace & Defense Segment to Grip Largest Share of Growing Aircraft Manufacturing Based on the application, the market is fragmented into automotive, aerospace & defense, aviation, sports & leisure, wind turbines, construction, and others. the aviation, aerospace & defense segment accounted for the highest market share in 2022 and may continue its dominance during the forecast period as composite materials are widely used in the aerospace industry. Report Coverage: Major growth drivers, restraining factors, opportunities, and potential challenges for the market. Comprehensive insights into regional developments. List of major industry players. Key strategies adopted by the market players. Recent industry developments include product launches, partnerships, mergers, and acquisitions. Drivers and Restraints: Carbon fiber is a material which is a very lightweight and strong having a low weight-to-strength ratio. It is twice as stiff as steel and five times more potent than steel. It consists of superior chemical resistance to steel. The exceptional properties of the product have led to an increase in its demand in the automotive industry to manufacture highly durable vehicles. The manufacturing of lightweight vehicles is expensive as carbon fiber material is costly. Carbon composites are used mainly in automotive, oil & gas, aerospace, and wind energy due to their high performance and lightweight properties. Key Players: ZOLTEK Corporation (Missouri, the U.S.) Hexcel Corporation (Connecticut, the U.S.) TEIJIN LIMITED (Tokyo, Japan) TORAY INDUSTRIES, INC. (Tokyo, Japan) Solvay (Brussels, Belgium) Formosa M Co., Ltd. (Gyeonggi-do, Korea) Mitsubishi Chemical Carbon Fiber and Composites, Inc. (California, the U.S.) Nippon Graphite Fiber Co., Ltd. (Hyogo, Japan) Advanced Composites Inc. (Utah, the U.S.) HYOSUNG ADVANCED MATERIALS (Seoul, South Korea) Other Key Players Competitive Landscape: The global market for carbon fiber houses several companies, such as Teijin Limited, Toray Industries, and ZOLTEK Corporation. They are majorly focusing on purchasing local firms, launching

state-of-the-art products, or partnering up with reputed organizations. Below is one of the latest industry developments: June 2019: Liberty Hall Capital Partners announced the execution of an agreement with Sekisui Chemical Group to sell AIM Aerospace worth USD 510 million. This new acquisition would help Sekisui Chemical to expand its geographic reach, diversify its customer base, and broaden its capabilities. Inquire Before Buying This Report: https://www.fortunebusinessinsights.com/enquiry/queries/carbon-fiber-market-101719 About Us: Fortune Business Insights delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in. Address: Fortune Business Insights Pvt. Ltd.9th Floor, Icon Tower, Baner Mahalunge Road, Baner, Pune-411045, Maharashtra, India. Phone: US: +1 424 253 0390 UK: +44 2071 939123 APAC: +91 744 740 1245 Email: sales@fortunebusinessinsights.com LinkedIn Facebook Twitter