Asia Pacific Carbon Fiber Market Developments and Forecast by 2027
Asia Pacific Carbon Fiber Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Raw Material (PAN and Pitch) and End Use Industry (Automotive, Aerospace and Defense, Construction, Sporting Goods, Wind Energy, and Others)
- Status : Published
- Report Code : TIPRE00007897
- Category : Chemicals and Materials
- No. of Pages : 104
- Available Report Formats :
- Last update date : May 08, 2021
2019 Market Size
US$ 1098.99 Mn
Base year value
2027 Forecast
US$ 2571.34 Mn
Projected by 2027
CAGR 2020-2027
11.4 %
Growth rate
Addressable Market
US$ 14,732.31 Mn
(2020-2027)
The Carbon Fiber Market in APAC is expected to grow from US$ 1098.99 million in 2019 to US$ 2571.34 million by 2027; it is estimated to grow at a CAGR of 11.4% from 2020 to 2027.
The China, India, and Japan are major economies in APAC. Increasing usage of carbon fiber in the sporting goods industry recently gained momentum after weak growth over the past few years The high-strength, modulus, and light-weight characteristics of carbon fiber have led to rising demand from the sporting goods manufacturing industry. Sporting goods such as golf shafts, racquets, skis, snowboards, hockey sticks, fishing rods, bats, and bicycles are manufactured using carbon fiber. Carbon fiber provides design flexibility when designing highly specific applications. The precise shape of equipment, which is critical to its performance, is easily achieved with the use of carbon fiber materials. Carbon fiber helps to enhance the performance of bikers and golfers. The most specific use of carbon fiber in the sporting equipment is seen in the tennis racket. Players can hit faster ball with the lighter racket and control the ball better with a larger area of the racket. These factors are driving the demand for carbon fiber in various sporting equipment’s. The increasing demand for carbon fiber-based sporting equipment provides a lucrative market opportunity for key and new market players. Many sports goods manufacturing in developed and developing countries such as China, Japan, India, and Taiwan are using carbon fiber.
The COVID-19 is anticipated to cause a significant economic loss in the Asia Pacific region. The consequence and impact can be even worse and totally depends on the spread of the virus. The governments of various Asia Pacific countries are taking possible steps to restrict the spread of the virus by announcing lockdown, which in turn has negatively impacted the overall carbon fiber market
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Carbon Fiber Market APAC Carbon Fiber Market is expected to grow at a good CAGR during the forecast period.
- This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.
APAC Carbon Fiber Market Segmentation
APAC Carbon Fiber Market – By Raw Material
- PAN
- Pitch
APAC Carbon Fiber Market– By End Use Industry
- Automotive
- Aerospace and Defense
- Construction
- Sporting Goods
- Wind Energy
- Others
APAC Carbon Fiber Market – By Country
- China
- Japan
- India
- South Korea
- Taiwan
- Rest of APAC
APAC Carbon Fiber Market -Companies Mentioned
- Formosa Plastic Corporation
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- Mitsubishi Chemical Corporation
- SGL Carbon
- Solvay
- Teijin Limited
- Toray Industries,Inc
Asia Pacific Carbon Fiber Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1098.99 Million |
| Market Size by 2027 | US$ 2571.34 Million |
| CAGR (2020 - 2027) | 11.4% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Raw Material
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
- Comprehensive Market Sizing and Forecast Analysis
- Detailed Segmentation Analysis
- In-Depth Market Dynamics Assessment
- Regional and Country-Level Insights
- Competitive Landscape and Company Benchmarking
- Strategic Business Intelligence
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