Technavio has been monitoring the carbon fiber market and it is poised to grow by USD 2.01 billion during 2020-2024, progressing at a CAGR of about 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is concentrated, and the degree of concentration will accelerate during the forecast period. DowAksa Ileri Kompozit Malzemeler San. Ltd. Sti., Formosa Plastics Corp., Hexcel corp., Mitsubishi Chemical Holdings Corp., Nippon Graphite Fiber Corp., Saudi Basic Industries Corp., SGL Carbon SE, Solvay SA, Teijin Ltd., and Toray Industries Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Demand for fuel-efficient vehicles has been instrumental in driving the growth of the market.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. https://www.technavio.com/report/report/carbon-fiber-market-industry-analysis
Carbon Fiber Market is segmented as below:
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The carbon fiber market report covers the following areas:
This study identifies capacity expansions and the emergence of new production plants as one of the prime reasons driving the carbon fiber market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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