Carbon Fiber Market: Opportunities and Forecast Assessment, 2020–2027

1. Carbon Fiber Market

2. The primary objective of the Carbon Fiber market report by GMI Research is to help the users understand the market scenario in terms of its definition, segmentation, drivers, opportunities, market trends, and the challenges that the market is facing. This report focuses on the Carbon Fiber market, especially in North America, Europe, Asia-Pacific, and the rest of the world.

3. Key Drivers of the Carbon Fiber Market The strong demand for carbon fiber, especially in the aerospace & defense, automotive, and wind energy sectors, is the key driver that is propelling the growth of the carbon fiber market size. Additionally, the rising automotive demand, followed by the increasing requirement for lightweight vehicles, is further energizing the demand of the market in the coming years. With the increasing environmental concerns, the consumer’s preference has shifted towards fuel-efficient vehicles to follow the government regulations regarding automotive pollution and to reduce the amount of CO2 emission from the vehicles. The expansion in the aerospace industry, especially in the North American and European countries, will further strengthen the carbon fiber market growth.

4. With the increasing disposable income and globalization, there has been an upsurge in demand for commercial aviation, especially in the aerospace industry. The consumers are mainly emphasizing on their health and are getting involved in various sports and physical activities. This has resulted in an increased application of carbon fiber in different sports and leisure equipment to capture the strong demand of the consumers. The combination of these factors will attract many end-users to opt for carbon fiber in the coming years. The increasing propylene production has also accelerated the demand for polyacrylonitrile, which is a primary raw material for carbon fiber production. With the COVID-19 outbreak, various uncertainties have been created in the market, which are adversely impacting the market’s growth. However, the market is projected to bounce back in 2021 at a significant rate from 2022 onwards.

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