Global Carbon Fiber Market 2019-2023

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.

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.

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.

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Ruchi Walt Joined: August 16th, 2019