North American Carbon Fiber Market Overview by Recent Opportunities, Growth Size, Regional Analysis and Forecasts to 2026
The North American carbon fiber market is estimated to grow significantly at a CAGR of around 8.5% during the forecast period. The market growth is attributed to the significant presence of major end-user industries of carbon fiber in the region. The aviation industry highly relies on light and efficient materials such as carbon fiber owing to its high mechanical and thermal properties. Increasing demand for commercial air transport owing to the rising disposable income and globalization is driving the aviation industry in the region, thereby anticipated to drive the market growth. Further, the presence of major aircraft players in the region creates the demand for the carbon fiber to produce aircraft parts and therefore, contributes to the regional growth of the market.
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The North American carbon fiber market is segmented
on the basis of raw material, fiber type, and industry vertical. On the basis
of raw material, the market is sub-segmented into PAN and petroleum pitch &
rayon. Based on the fiber type, the market is classified into virgin carbon
fiber and recycled carbon fiber. Based on the industry verticals, the market is
classified into aerospace & defense, automotive, construction
infrastructure, and others such as sporting goods. Among these, the aerospace
& defense industry segment accounted for a major share in the market. The
market value is attributed to the increased production by the major aerospace
& defense manufacturers. The commercial aerospace industry is the largest
user of advanced composites such as carbon fiber. Further, demand by the
aerospace & defense industry is primarily attributed to the demand for
military aircraft that utilize advanced composites, including both commercial
and military aviation.The companies which are contributing to the growth
of the North American carbon fiber market include Hexcel Corp., Mitsubishi
Chemical Carbon Fiber and Composites, Inc., Nippon Carbon Co. Ltd., RTP Co.,
Toray Industries Inc., and others. The market players are considerably
contributing to the market growth by adopting various strategies including new
product launch, merger, and acquisition, collaborations to stay competitive in
the market.
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North
American Carbon Fiber
Market Segmentation
By Raw Material
·
Polyacrylonitrile (PAN)
·
Petroleum Pitch & Rayon
·
Indian Carbon Fiber Market by
Fiber Type
·
Virgin Carbon Fiber
·
Recycled Carbon Fiber
By Industry Verticals
·
Aerospace & Defense
·
Automotive
·
Construction Infrastructure
·
Others (Sporting Goods
Company Profiles
·
Hexcel Corp.
·
Mitsubishi Chemical Holdings Corp.
·
Nippon Carbon Co. Ltd.
·
Solvay SA
·
SGL Carbon SE
·
Toray Industries, Inc.
·
Teijin Ltd.
·
UMATEX, ROSATOM State Corp.
·
Weihai Guangwei Composites Co., Ltd.
·
ZHONGFU SHENYING CARBON FIBER CO., LTD.
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