Global Carbon Fiber Market 2019-2023 | 10% CAGR Projection Over the Next Four Years | Technavio

Technavio analysts forecast the global carbon fiber market to grow at a CAGR of nearly 10% during the forecast period.

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Capacity expansions and the emergence of new production plants are some of the major trends witnessed in the global carbon fiber market 2019-2023. There is a rise in the expansion of the production capacities of carbon fibers owing to the increasing demand for carbon fibers in aerospace and defense, automotive, wind energy, and other end-use applications. In North America, Europe, and APAC, the carbon fiber market is developing rapidly because of capacity expansions. Key carbon fiber manufacturers are investing heavily in facility expansions to increase their shares in the global carbon fiber market.

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According to Technavio’s analysts, one of the key factors contributing to the growth of the global carbon fiber market is the increasing demand for fuel-efficient vehicles:

Global carbon fiber market: Increasing demand for fuel-efficient vehicles

At present, consumers are shifting from traditional passenger cars to fuel-efficient cars due to the high fuel costs and fluctuating fuel prices. The availability of alternative fuels and awareness regarding the benefits of green vehicles and light vehicles are factors that will have a direct impact on the market. Stringent government norms to reduce greenhouse gas emissions, carbon dioxide emissions, and other harmful pollutants are driving the demand for fuel-efficient and light vehicles.

According to a senior analyst at Technavio for research on textile, fiber, and composites, “Some of the fuel-efficient vehicles preferred by consumers are hybrid electric cars, battery cars, plug-in hybrid electric cars, and compressed air-based cars. The high usage of carbon fibers in these vehicles significantly reduces their overall weight. The US has already introduced regulations to increase the fuel efficiency requirements for new automobiles to 54.5 miles per gallon by 2025. This induced automotive companies to use lightweight materials such as carbon fiber to reduce the weight of vehicles and increase fuel-efficiency.”

Global carbon fiber market: Segmentation analysis

This global carbon fiber market research report provides market segmentation by application (aerospace and defense, sports and leisure, wind energy, automotive, and others) and by region (the Americas, EMEA, and APAC). The report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The aerospace and defense segment held the largest market share in 2018, accounting for nearly 59% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The Americas led the market in 2018 with a market share of nearly 45%. This region is expected to dominate the market through 2023.

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Some of the key topics covered in the report include:

Market Landscape

• Market ecosystem
• Market characteristics
• Market segmentation analysis

Market Sizing

• Market definition
• Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

• Regional comparison
• Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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