Carbon Fiber Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Carbon Fiber Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 23, 2024 /EINPresswire.com/ -- The global carbon fiber market has demonstrated strong growth, with an increase from $4.69 billion in 2023 to $5.13 billion in 2024, at a compound annual growth rate (CAGR) of 9.4%. The market is anticipated to reach $7.16 billion by 2028 at a compound annual growth rate (CAGR) of 8.7%, driven by factors including aerospace and defense demand, automotive industry advancements, and growth in renewable energy sectors.

Carbon Fiber Market Set To Soar With Growing Automotive Industry
The expanding automotive industry is a major driver for the carbon fiber market. Carbon fiber's lightweight and high-strength properties are crucial in manufacturing vehicle components that enhance performance and fuel efficiency. According to Asia Automotive Analysis, South Korea’s automobile production in 2022 increased by 8.5% to 3,756,491 units, reflecting the sector's growth and the rising demand for carbon fiber components.

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Key Players and Market Trends
Leading companies in the carbon fiber market include Toray Industries Inc., Solvay S.A., and Mitsubishi Chemical Carbon Fiber and Composites Inc., among others. These players are focusing on technological innovations and strategic partnerships to advance their market positions.

Market Segmentation
The carbon fiber market is segmented as follows:
• By Type: Virgin Fiber (VCF), Recycled Carbon Fiber (RCF)
• By Raw Material: Polyacrylonitrile (PAN), Petroleum Pitch, Rayon
• By Tow: Large Tow, Small Tow
• By Application: Composite Materials, Textiles, Microelectrodes, Catalysis
• By End-Users: Aerospace and Defense, Automotive, Wind Energy, Pipes and Tanks, Sporting Goods, Other End-Users

Geographical Insights: Western Europe Leads the Market
Western Europe was the largest region in the carbon fiber market in 2023. However, the report covers various regions, including Asia-Pacific, Eastern Europe, North America, South America, the Middle East, and Africa, providing a comprehensive view of global market dynamics.
Access the complete report for an in-depth analysis of the global carbon fiber market:
https://www.thebusinessresearchcompany.com/report/carbon-fiber-global-market-report

Carbon Fiber Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Carbon Fiber Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on carbon fiber market size, carbon fiber market drivers and trends, carbon fiber market major players, carbon fiber competitors' revenues, carbon fiber market positioning, and carbon fiber market growth across geographies. The carbon fiber market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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