Asia Pacific Carbon Fiber Market to 2027 - Regional Analysis and Forecasts By Precursor (PAN based, Pitch); Form (Composite, Non-Composite); End Use Industry (Automotive, Aerospace and Defense, Construction, Sporting Goods, Wind Energy, Others), and Countries
Publication Month: Dec 2019
Report Code: TIPRE00007897 No. of Pages: 170 Category: Chemicals and Materials Status: Published
The Asia Pacific Carbon fiber market is accounted to US$ 988.2 Mn in 2018 and is predicted to grow at a CAGR of 12.4% during the forecast period 2019 – 2027, to account for US$ 2,794.8 Mn by 2027.
Japan is dominating the Asia pacific carbon fiber market, followed by China. The market for carbon fiber in Japan is increasing due to the dense presence of the automobile industry and the electronics industry. Japan is considered a few of the leading car producers in the world. The domestic sales of vehicles in Japan has increased with the increase in production capacities and a surge in export. Thus, the robust automotive foothold of the automotive industry and an increase in production and export of vehicles is expected to deliver substantial growth opportunity for the growth of the carbon fiber market. The demand for carbon fiber is expanding in a wide range of applications and especially in the manufacturing of automotive components. Manufacturers are interested in producing aircraft and automobiles.
Asia Pacific Carbon Fiber Market
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Market Insights
Increasing usage of carbon fiber in wind energy industry
Increasing demand to utilize renewable resources has led to an upsurge for the installation and demand for wind farms, with wide tracts of land and coastal areas devoted to the operation of wind turbines. The wind turbine manufacturers strive to produce more efficient and longer blades. Advanced composite materials such as carbon fiber is an upcoming component for the construction of wind turbines, specifically the blades. The companies operating in the market have discovered that the longer the blades are on a turbine, the more energy can be generated. The carbon fiber plays a vital role in the wind energy industry. Large blades are typically designed by stiffness and deflection, rather than taking into consideration the material strength. The high stiffness characteristic of carbon fiber lowers the blade deflection, allowing a larger tower diameter for a given blade-to-tower clearance. Carbon fiber is added in the spar cap, which is known to be the backbone of the blade.
Precursors Insights
Based on precursor, the Asia Pacific carbon fiber market is bifurcated as PAN-based and pitch. Polyacrylonitrile (PAN) contains ~68% of carbon and is one of the most widely used precursors in carbon fiber manufacturing. PAN is polymerized from acrylonitrile (AN) by the commonly used, inhibitory azo compounds and peroxides through the polymerization process. Suspension polymerization and solution polymerization are the two major types of this process. The solution polymerization is the preferred method as the PAN solution that is produced can be directly used as a fiber spinning dope on the removal of unreacted monomers. To produce PAN with higher molecular weights, the solvent needs to have a low chain transfer coefficient.
Form Insights
The Asia Pacific Carbon fiber market is bifurcated based on form into composite and non-composite. The carbon fiber reinforced polymers are advanced composite materials that are used in a wide variety of applications from the sports equipment to the aerospace and automotive sector. Carbon fibers, when bound with plastic polymer resin, produce a composite material that is durable, extremely strong and lightweight that can be used in various forms including tubes, tows and fabrics. The steady decrease in the prices, coupled with the availability of multiple carbon fibers and polymer matrix materials have helped the carbon fiber polymer composite materials to achieve an essential position in the Asia Pacific market. Epoxy is the most commonly used carbon fiber composite material. Thermoplastic resin, polyimide, polysulfone and polyester are also used on a large scale. The carbon fiber composite materials bear excellent electrical and thermal conductivity.
End-use Industry Insights
The Asia Pacific carbon fiber market is bifurcated based on end-use industry into automotive, aerospace and defense, construction, sporting goods, wind energy and others. The aerospace and defense segment accounted for the largest share in the Asia Pacific Carbon fiber market. The development and use of carbon fiber have revolutionized the aerospace and defense industries. The carbon fiber composite materials provide high-performance and lightweight features to meet rigorous industry standards. The carbon fibers help in delivering enormous benefits to the aerospace and defense industry. The carbon fibers help in reducing fuel consumption and reduce the weight of the aircraft. The carbon fiber composites also provide durability and toughness to the aircraft. The carbon fiber composites help in providing improved fatigue and help in decreasing the maintenance cost of the aircraft. The high modulus of carbon fiber composite makes it structurally suitable in the production of aircraft and has the potential to replace the alloys such as titanium and aluminum. The carbon fibers provide advantages such as high resistance to fatigue, low thermal expansion, corrosion resistance, low microwave and radar absorption and higher stiffness to weight ratio.
Asia Pacific Carbon Fiber Market by Precursor
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Strategic Insights
New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in Asia Pacific carbon fiber market. Few of the recent developments in the Asia Pacific Carbon fiber market are listed below:
2019: Hyosung Corporation and Saudi Aramco announced to develop a carbon fiber manufacturing plants in South Korea
2019: Teijin Limited agreed to acquire Renegade Materials Corporation (Renegade) through which Teijin aims at strengthening its carbon fiber and intermediate materials businesses to maintain its position as a leading provider of solutions for aerospace applications.
2018: Mitsui Chemicals partnered with Taiwan’s Formosa Plastics to sell carbon fiber-reinforced polypropylene unidirectional (UD) sheet and tape under the Tafnex brand.
ASIA PACIFIC CARBON FIBER MARKET SEGMENTATION
By Precursor
- PAN-based
- Pitch
By Form
- Composite
- Non-Composite
By End-Use Industry
- Automotive
- Aerospace and Defense
- Construction
- Sporting Goods
- Wind Energy
- Others
By Country
- China
- India
- Japan
- South Korea
- Taiwan
- Rest of APAC
Company Profiles
- DowAksa
- Formosa Plastics Corporation
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- Mitsubishi Chemical Corporation
- SGL Carbon
- Solvay
- Teijin Limited
- Toray Industries, Inc.
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Asia Pacific Carbon fiber Market – By Precursor
1.3.2 Asia Pacific Carbon fiber Market – By Form
1.3.3 Asia Pacific Carbon fiber Market – By End-Use Industry
1.3.4 Asia Pacific Carbon fiber Market – By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Carbon fiber Market Landscape
4.1 Market Overview
4.2 PEST Analysis – Asia Pacific
5. Carbon fiber Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Rising demands from automotive and aerospace applications
5.1.2 Increasing usage of carbon fiber in wind energy industry
5.2 Restraints
5.2.1 High costs and other disadvantages associated with carbon fibres
5.3 Opportunity
5.3.1 Increasing usage of carbon fiber in the sporting goods industry
5.4 Future trends
5.5 Impact Analysis of Drivers and Restraints
6. Carbon Fiber – Asia Pacific Market Analysis
6.1 Asia Pacific Carbon fiber Market Overview
6.2 Asia Pacific Carbon Fiber Market Forecast and Analysis
7. Asia Pacific Carbon fiber Market Analysis – By Precursor
7.1 Overview
7.2 Asia Pacific Carbon fiber Market Breakdown, By Precursor, 2018 & 2027
7.3 Polyacrylonitrile (PAN)
7.3.1 Overview
7.3.2 Asia Pacific Aquatic Plants Market Revenue Forecasts To 2027 (US$ Mn)
7.4 Pitch
7.4.1 Overview
7.4.2 Asia Pacific Pitch Market Revenue Forecasts To 2027 (US$ Mn)
8. Asia Pacific Carbon fiber Market Analysis – By Form
8.1 Overview
8.2 Asia Pacific Carbon fiber Market Breakdown, By Form, 2018 & 2027
8.3 Composites
8.3.1 Overview
8.3.2 Asia Pacific Composites Carbon fiber Market Revenue Forecasts To 2027 (US$ Mn)
8.4 Non-Composites
8.4.1 Overview
8.4.2 Asia Pacific Non-Composites Carbon fiber Market Revenue Forecasts To 2027 (US$ Mn)
9. Asia Pacific Carbon Fiber Market Analysis – By End-use industry
9.1 Overview
9.2 Asia Pacific Carbon fiber Market Breakdown, By End-use industry, 2018 & 2027
9.3 Automotive
9.3.1 Overview
9.3.2 Asia Pacific Automotive Market Revenue Forecasts To 2027 (US$ Mn)
9.4 Aerospace and Defence
9.4.1 Overview
9.4.2 Asia Pacific Aerospace & Defense Market Revenue Forecasts To 2027 (US$ Mn)
9.5 Construction
9.5.1 Overview
9.5.2 Asia Pacific Construction Market Revenue Forecasts To 2027 (US$ Mn)
9.6 Sporting Goods
9.6.1 Overview
9.6.2 Asia Pacific Sporting Goods Revenue and Forecasts to 2027 (US$ MN)
9.7 Wind Energy
9.7.1 Overview
9.7.2 Asia Pacific Wind Energy Revenue and Forecasts to 2027 (US$ MN)
9.8 Others
9.8.1 Overview
9.8.2 Asia Pacific Others Revenue and Forecasts to 2027 (US$ MN)
10. Carbon fiber Market – Country Analysis
10.1 Overview
10.1.1 Asia Pacific Carbon fiber Market Breakdown, by Key Countries
10.1.1.2 China Carbon fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.2.1 China Carbon fiber Market Breakdown by Precursor
10.1.1.2.2 China Carbon fiber Market Breakdown by Form
10.1.1.2.3 China Carbon fiber Market Breakdown by End-Use industry
10.1.1.3 India Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.3.1 India Carbon fiber Market Breakdown by Precursor
10.1.1.3.2 India Carbon fiber Market Breakdown by Form
10.1.1.3.3 India Carbon fiber Market Breakdown by End-use industry
10.1.1.4 Japan Carbon fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.4.1 Japan Carbon fiber Market Breakdown by Precursor
10.1.1.4.2 Japan Carbon fiber Market Breakdown by Form
10.1.1.4.3 Japan Carbon fiber Market Breakdown by End-use industry
10.1.1.6 South Korea Carbon fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.6.1 South Korea Carbon fiber Market Breakdown by Precursor
10.1.1.6.2 South Korea Carbon fiber Market Breakdown by Form
10.1.1.6.3 South Korea Carbon fiber Market Breakdown by End-use industry
10.1.1.7 Taiwan Carbon fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.7.1 Taiwan Carbon fiber Market Breakdown by Precursor
10.1.1.7.2 Taiwan Carbon fiber Market Breakdown by Form
10.1.1.7.3 Taiwan Carbon fiber Market Breakdown by End-use industry
10.1.1.8 Rest of Asia Pacific Carbon fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.8.1 Rest of Asia Pacific Carbon fiber Market Breakdown by Precursor
10.1.1.8.2 Rest of Asia Pacific Carbon fiber Market Breakdown by Form
10.1.1.8.3 Rest of Asia Pacific Carbon fiber Market Breakdown by End-use industry
11. Industry Landscape
11.1 Overview
11.2 Merger & Acquisition
11.3 Product News
11.4 Market Initiatives
12. Company Profiles
12.1 DowAksa
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Formosa Plastics Corporation
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Hexcel Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Hyosung Corporation
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Kureha Corporation
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.6 Mitsubishi Chemical Corporation
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 SGL Carbon
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Solvay
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 Teijin Limited
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Toray Industries, Inc.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 3. Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 4. Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 5. China Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 6. China Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 7. China Carbon Fiber Market Revenue and Forecasts to 2027 – By End-Use industry (US$ Mn)
Table 8. India Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 9. India Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 10. India Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 11. Japan Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 12. Japan Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 13. Japan Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 14. South Korea Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 15. South Korea Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 16. South Korea Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 17. Taiwan Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 18. Taiwan Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 19. Taiwan Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 20. Rest of Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 21. Rest of Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 22. Rest of Asia Pacific Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 23. Glossary of Terms, Carbon Fiber Market
LIST OF FIGURES
Figure 1. Asia Pacific Carbon Fiber Market Segmentations
Figure 2. Asia Pacific Carbon Fiber Market Segmentation – By Country
Figure 3. Asia Pacific Carbon fiber Market Overview
Figure 4. Aerospace and Defense Segment Held Largest Share In The Asia Pacific Carbon Fiber Market
Figure 5. Japan Dominated The Asia Pacific Carbon Fiber Market In 2018
Figure 6. Asia Pacific Carbon Fiber Market, Industry Landscape
Figure 7. Asia Pacific– PEST Analysis
Figure 8. Asia Pacific Carbon fiber Market Impact Analysis of Driver and Restraints
Figure 9. Asia Pacific Carbon fiber Market Forecast And Analysis, (US$ Mn)
Figure 10. Asia Pacific Carbon Fiber Market Breakdown by Precursor, 2018 & 2027 (%)
Figure 11. Asia Pacific PAN Market Revenue Forecasts To 2027 (US$ Mn)
Figure 12. Asia Pacific Pitch Market Revenue Forecasts To 2027 (US$ Mn)
Figure 13. Asia Pacific Carbon Fiber Market Breakdown by Form, 2018 & 2027 (%)
Figure 14. Asia Pacific Composites Carbon Fiber Market Revenue Forecasts To 2027 (US$ Mn)
Figure 15. Asia Pacific Non-Composites Carbon Fiber Market Revenue Forecasts To 2027 (US$ Mn)
Figure 16. Asia Pacific Carbon Fiber Market Breakdown by End-use industry, 2018 & 2027 (%)
Figure 17. Asia Pacific Automotive Market Revenue Forecasts To 2027 (US$ Mn)
Figure 18. Asia Pacific Aerospace & Defense Market Revenue Forecasts To 2027 (US$ Mn)
Figure 19. Asia Pacific Construction Market Revenue Forecasts To 2027 (US$ Mn)
Figure 20. Asia Pacific Sporting Goods Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 21. Asia Pacific Wind Energy Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 22. Asia Pacific Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 23. Asia Pacific Carbon Fiber market Breakdown by Key Countries, 2018 & 2027(%)
Figure 24. China Carbon Fiber Market Forecasts to 2027 (US$ MN)
Figure 25. India Carbon Fiber Market Forecasts to 2027 (US$ MN)
Figure 26. Japan Carbon Fiber Market Forecasts to 2027 (US$ MN)
Figure 27. South Korea Carbon Fiber Market Forecasts to 2027 (US$ MN)
Figure 28. Taiwan Carbon Fiber Market Forecasts to 2027 (US$ MN)
Figure 29. Rest of Asia Pacific Carbon Fiber Market Forecasts to 2027 (US$ MN)
The List of Companies
- DowAksa
- Formosa Plastics Corporation
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- Mitsubishi Chemical Corporation
- SGL Carbon
- Solvay
- Teijin Limited
- Toray Industries, Inc.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific carbon fiber market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.