Global carbon fiber market Projected to reach USD 8.00 billion by 2026

LONDON, April 24, 2017 /PRNewswire/ -- "Carbon fiber market projected to grow at a CAGR of 10.8% in terms of value from 2016 to 2026"
The global carbon fiber market is projected to reach USD 8.00 billion by 2026, at a CAGR of 10.8% from 2016 to 2026. The major drivers of the global carbon fiber market are the increasing demand for carbon fiber from the automotive and aerospace & defense end-user industries, increasing usage of carbon fiber in wind energy, and new product launches in the carbon fiber market.

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"Aerospace & defense end-user industry form the largest market share in the carbon fiber market, by value."
Carbon fiber is gaining importance in the aerospace & defense end-user industry as it enhances the strength and rigidity of the composite. Carbon fiber is already being used in the aerospace industry, with 50% of an aircraft's components being composites. Carbon fiber has great strength-to-weight capability as compared to other traditional aerospace materials, and hence, facilitates more efficient designs, structurally. It is normally used in secondary structures such as fairings, seat structures, luggage racks, galley equipment, and aircraft nose.

"North America is the fastest-growing region in carbon fiber market."
The increasing demand for carbon fiber based composites by various end-use industries such as, automotive, aerospace & defense, wind energy, and sporting goods is driving the carbon fiber market in the region.

This study has been validated through primaries conducted with various industry experts, globally. These primary sources have been divided into the following three categories:

- By company type- Tier 1- 35%, Tier 2- 25%, and Tier 3- 40%
- By designation- C Level- 30%, Director Level- 25%, and Others- 45%
- By region- North America- 30%, Europe- 25%, Asia-Pacific- 30%, Latin America- 10% and Middle East & Africa- 5%

The report provides a comprehensive analysis and company profiles of the following companies:
- Hexcel Corporation (U.S.)
- Mitsubishi Rayon Co. Ltd. (Japan)
- Teijin Limited (Japan)
- Hyosung (South Korea)
- SGL Group (Germany)
- Cytec Industries Inc. (U.S.)
- DowAksa (Turkey)
- SvetlogorskKhimvolokno (Belrus)
- Toray Industries Inc. (Japan)
- Kemrock Industries & Exports Ltd. (India)

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SOURCE ReportBuyer