North America Carbon Fiber Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Raw Material (Polyacrylonitrile and Petroleum Pitch and Rayon), Type (Virgin Fiber and Recycled Fiber), Application (Composite Materials, Textiles, Microelectrodes, and Catalysis), End-user Industry (Aerospace & Defense, Alternative Energy, Automotive, Construction & Infrastructure, Sporting Goods, and Other End-user Industries), and Geography (United States, Canada, Mexico, and Rest of North America)

Market Snapshot

Market Summary - North America Carbon Fiber Market
Study Period: 2016 - 2026
Base Year: 2021
CAGR: >12 %

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Market Overview

The North America carbon fiber market is estimated to witness a significant growth, at an estimated CAGR of around 12%, over the forecast period. Major factors driving the market studied are the increasing demand for fuel-efficient and lightweight vehicles, accelerating usage in the aerospace and defense sector, and increasing usage in renewable energy.

  • The increasing popularity of recycled carbon fiber, and emphasis on the usage of lignin as raw material for carbon fiber are likely to act as opportunities in the future.
  • United States accounted for the largest market share and is expected to continue domination during the forecast period.

Scope of the report

The North America carbon fiber market report includes:

Raw Material
Polyacrtlonitrile (PAN)
Petroleum Pitch and Rayon
Type
Virgin Fiber (VCF)
Recycled Fiber (RCF)
Application
Composite Materials
Textiles
Microelectrodes
Catalysis
End-user Industry
Aerospace & Defense
Alternative Energy
Automotive
Construction & Infrastructure
Sporting Goods
Other End-user Industries
Geography
United States
Canada
Mexico
Rest of North America

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Key Market Trends

Composite Materials Segment Dominated the Market

  • Composite materials are of two types - carbon fiber reinforcement polymers (CFRP) and reinforced carbon-carbon (RCC).
  • Carbon filament, the raw material for the carbon fiber reinforced polymer is produced from the precursor polymers, such as polyacrylonitrile (PAN), rayon, or petroleum pitch. Carbon fiber is almost 10 times stronger than steel and less than half of its weight. It also exhibits high rigidity.
  • The demand for CFRP is rising owing to the strong demand from the aerospace, defense, automobile, construction, sports, and leisure sectors.
  • The CFRP is useful in weight reduction and thus is helpful in various areas. The use of these materials would help in reducing fuel usage and even coping with environmental regulations.
  • The CFRP recently developed a great use in improving the marine industry. These plastics have played an impressive role in replacing the use of metals and high-tension steels.
  • Reinforced Carbon-Carbon or RCC is a composite material consisting of carbon fiber reinforcement in a matrix of graphite.
  • Many of the Carbon-Carbon (C-C) composites currently being produced are in the form of components for missiles and military aircraft. The most important applications include rocket nozzles, exit cones for strategic missiles, and brake discs for military aircraft.
  • Potential near-term uses that have been identified are high-speed train and special automobile brakes and clutches, forging dies and molding crucibles, corrosive chemical reactors and heat exchangers, fuel cells, high thermal conductivity electronic substrates, prosthetic devices, and components for internal combustion engines and much more.
  • From the above-mentioned points, we can determine the demand for the composite materials in various applications which therefore increases the consumption of carbon fiber.
North America Carbon Fiber Market - Segmentation

United States to Dominate the Market

  • In the North America region, United States dominated the ceramic coatings market. United States is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country’s manufacturing sector is one of the major contributors to the country’s economy. 
  • According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year due to the existing fleet getting older. Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.
  • Various automotive manufacturers are planning to invest during the coming years, amid threats from the government to increase levies on auto imports from Mexico. This factor is expected to positively impact the automotive industry in the country in the coming years, thereby increasing the consumption of ceramic coatings in the automotive industry through the forecast period.
  • The sports market in the United States too is growing steadily and it is expected to reach almost USD 79 billion by 2021.
  • Overall, with the growing demand from various end-user industries is projected to drive the market in the country during the forecast period. 
North America Carbon Fiber Market - Regional Trend

Competitive Landscape

The North America carbon fiber market is highly consolidated. The major companies include Mitsubishi Chemical Carbon Fiber and Composites Inc., SGL Carbon, Solvay, TEIJIN LIMITED, and TORAY INDUSTRIES, INC., among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Fuel-efficient and Lightweight Vehicles

      2. 4.1.2 Accelerating Usage in the Aerospace and Defense Sector

      3. 4.1.3 Increasing Usage in Renewable Energy

    2. 4.2 Restraints

      1. 4.2.1 High R&D Investments

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Raw Material

      1. 5.1.1 Polyacrtlonitrile (PAN)

      2. 5.1.2 Petroleum Pitch and Rayon

    2. 5.2 Type

      1. 5.2.1 Virgin Fiber (VCF)

      2. 5.2.2 Recycled Fiber (RCF)

    3. 5.3 Application

      1. 5.3.1 Composite Materials

      2. 5.3.2 Textiles

      3. 5.3.3 Microelectrodes

      4. 5.3.4 Catalysis

    4. 5.4 End-user Industry

      1. 5.4.1 Aerospace & Defense

      2. 5.4.2 Alternative Energy

      3. 5.4.3 Automotive

      4. 5.4.4 Construction & Infrastructure

      5. 5.4.5 Sporting Goods

      6. 5.4.6 Other End-user Industries

    5. 5.5 Geography

      1. 5.5.1 United States

      2. 5.5.2 Canada

      3. 5.5.3 Mexico

      4. 5.5.4 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 A&P Technology, Inc.

      2. 6.4.2 Applied Sciences, Inc.

      3. 6.4.3 DowAksa

      4. 6.4.4 Formosa Plastics Corporation

      5. 6.4.5 Hexcel Corporation

      6. 6.4.6 HYOSUNG ADVANCED MATERIALS

      7. 6.4.7 Mitsubishi Chemical Carbon Fiber and Composites Inc.

      8. 6.4.8 Present Advanced Composites Inc.

      9. 6.4.9 SGL Carbon

      10. 6.4.10 Solvay

      11. 6.4.11 TEIJIN LIMITED

      12. 6.4.12 TORAY INDUSTRIES, INC.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Popularity of Recycled Carbon Fiber

    2. 7.2 Emphasis on Usage of Lignin as Raw Material for Carbon Fiber

**Subject to Availability

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Frequently Asked Questions

The North America Carbon Fiber Market market is studied from 2016 - 2026.

The North America Carbon Fiber Market is growing at a CAGR of >12% over the next 5 years.

Mitsubishi Chemical Carbon Fiber and Composites Inc., SGL Carbon, Solvay, TEIJIN LIMITED, TORAY INDUSTRIES, INC. are the major companies operating in North America Carbon Fiber Market.

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