North America 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)
Publication Month: Jan 2020
Report Code: TIPRE00007922 No. of Pages: 145 Category: Chemicals and Materials Status: Published
The North America carbon fiber market is accounted to US$ 1,157.8 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecast period 2019 – 2027, to account to US$ 2,872.5 Mn by 2027.
Carbon fiber is defined as the long thin strand of material that is made up of carbon atoms possessing a diameter of about 0.005mm to 0.010mm. The fibers are rigid and chemically inert, making them difficult to compress and stretch. They provide high strength to the vessels, which helps to prevent the explosions of gas storage systems. They are used in several applications such as aerospace & defense, automotive, construction, and others. However, the high costs of carbon fiber manufacturing processes are limiting the market growth.
The US is dominating the North America carbon fiber market followed by Mexico. Increasing usage of carbon fiber in wind energy industry would drive the market in the coming years. The carbon fibers are considered to be an effective alternative to the glass fibers used in the wind turbines. They show higher stiffness and lower density as compared to the glass fibers, allowing the thinner, stiffer and lighter blades. Furthermore, they have relatively low damage tolerance, compressive strength, and ultimate strain. Therefore, carbon fibers are most commonly used in the fabrication of wind turbine blades.
North America 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 North American 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 precursors, the North America carbon fiber market is bifurcated as PAN-based and pitch. The PAN-based segment dominated the North America carbon fiber market. The presence of linear nitrile groups results in a robust intermolecular interaction in linear PAN that leads to having a high melting point, which results in the degradation before the temperature reaches the melting point. The rising demand for carbon fiber in the industrial applications has led to an upsurge to the manufacturing and production of PAN as it is one of the most widely used precursors.
Form Insights
The North America carbon fiber market is bifurcated based on form into composite and non-composite. The composite segment accounted for the largest share in the North America carbon fiber market. 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 North America market.
End-Use Industry Insights
The North America carbon fiber market is bifurcated based on the end-use industry into automotive, aerospace and defense, construction, sporting goods, wind energy, and others. The aerospace & defense segment accounted for the highest share in the North America carbon fiber market. The French economy is dominated by machinery, aircraft, chemical, and automotive, among others. The production volume is continuously growing, attributing to the demand from the French as well as international customers. Additionally, France is one of the leading countries in North America, which has significantly developed the aerospace industry. Moreover, several research and development initiatives by the government for the growth in the aerospace industry is further expected to flourish the market for carbon fiber in the country.
North America Carbon Fiber Market by Precursors
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Strategic Insights
New product development, market initiatives and merger and acquisition were observed as the most adopted strategies in North America carbon fiber market. Few of the recent developments in the North America carbon fiber market are listed below:
2017: Hexcel launched MAXIM, which is a new Government supported by £7.4 million in research and development of carbon fiber fabrics and expanded its manufacturing facility in Leicester.
2016: Hexcel Corporation strategically invested in Carbon Conversions Incorporated (CCI) which is a renowned leader of carbon fiber recycling and repurposing.
NORTH AMERICA 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
- US
- Canada
- Mexico
Company Profiles
- DowAksa
- Formosa Plastics Corporation
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- Mitsubishi Chemical Corporation
- SGL Carbon
- Solvay
- Teijin Limited
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America Carbon Fiber Market – By Precursor
1.3.2 North America Carbon Fiber Market – By Form
1.3.3 North America Carbon Fiber Market – By End-Use Industry
1.3.4 North America 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 – North America
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 fibers
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 – North America Market Analysis
6.1 North America Carbon Fiber Market Overview
6.2 North America Carbon Fiber Market Forecast and Analysis
7. North America Carbon Fiber Market Analysis – By Precursor
7.1 Overview
7.2 North America Carbon Fiber Market Breakdown, By Precursor, 2018 & 2027
7.3 Polyacrylonitrile (PAN)
7.3.1 Overview
7.3.2 North America PAN Market Revenue Forecasts To 2027 (US$ Mn)
7.4 Pitch
7.4.1 Overview
7.4.2 North America Pitch Market Revenue Forecasts To 2027 (US$ Mn)
8. North America Carbon Fiber Market Analysis – By Form
8.1 Overview
8.2 North America Carbon Fiber Market Breakdown, By Form, 2018 & 2027
8.3 Composites
8.3.1 Overview
8.3.2 North America Composites Carbon Fiber Market Revenue Forecasts To 2027 (US$ Mn)
8.4 Non-Composites
8.4.1 Overview
8.4.2 North America Non-Composites Carbon Fiber Market Revenue Forecasts To 2027 (US$ Mn)
9. North America Carbon Fiber Market Analysis – By End-use Industry
9.1 Overview
9.2 North America Carbon Fiber Market Breakdown, By End-use industry, 2018 & 2027
9.3 Automotive
9.3.1 Overview
9.3.2 North America Automotive Market Revenue Forecasts To 2027 (US$ Mn)
9.4 Aerospace and Defence
9.4.1 Overview
9.4.2 North America Aerospace & Defense Market Revenue Forecasts To 2027 (US$ Mn)
9.5 Construction
9.5.1 Overview
9.5.2 North America Construction Market Revenue Forecasts To 2027 (US$ Mn)
9.6 Sporting Goods
9.6.1 Overview
9.6.2 North America Sporting Goods Revenue and Forecasts to 2027 (US$ MN)
9.7 Wind Energy
9.7.1 Overview
9.7.2 North America Wind Energy Revenue and Forecasts to 2027 (US$ MN)
9.8 Others
9.8.1 Overview
9.8.2 North America Others Revenue and Forecasts to 2027 (US$ MN)
10. Carbon Fiber Market – Country Analysis
10.1 Overview
10.1.1 North America Carbon Fiber Market Breakdown, by Key Countries
10.1.1.1 US Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.1.1 US Carbon Fiber Market Breakdown by Precursor
10.1.1.1.2 US Carbon Fiber Market Breakdown by Form
10.1.1.1.3 US Carbon Fiber Market Breakdown by End-Use industry
10.1.1.2 Canada Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.2.1 Canada Carbon Fiber Market Breakdown by Precursor
10.1.1.2.2 Canada Carbon Fiber Market Breakdown by Form
10.1.1.2.3 Canada Carbon Fiber Market Breakdown by End-use industry
10.1.1.3 Mexico Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN)
10.1.1.3.1 Mexico Carbon Fiber Market Breakdown by Precursor
10.1.1.3.2 Mexico Carbon Fiber Market Breakdown by Form
10.1.1.3.3 Mexico Carbon Fiber Market Breakdown by End-use industry
11. Industry Landscape
11.1 Overview
11.2 Product News
11.3 Investment Scenario
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
12.2 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
12.3 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. North America Carbon Fiber Market Revenue and Forecasts to 2027 (US$ Mn)
Table 2. North America Carbon Fiber market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 3. North America Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 4. North America Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 5. US Carbon Fiber market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 6. US Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 7. US Carbon Fiber Market Revenue and Forecasts to 2027 – By End-Use industry (US$ Mn)
Table 8. Canada Carbon Fiber market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 9. Canada Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 10. Canada Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 11. Mexico Carbon Fiber market Revenue and Forecasts to 2027 – By Precursor (US$ Mn)
Table 12. Mexico Carbon Fiber Market Revenue and Forecasts to 2027 – By Form (US$ Mn)
Table 13. Mexico Carbon Fiber Market Revenue and Forecasts to 2027 – By End-use industry (US$ Mn)
Table 14. Glossary of Terms, Carbon Fiber Market
LIST OF FIGURES
Figure 1. North America Carbon Fiber Market Segmentations
Figure 2. North America Carbon Fiber Market Segmentation – By Country
Figure 3. North America Carbon Fiber Market Overview
Figure 4. Aerospace and Defense Segment Held Largest Share In The North America Carbon Fiber Market
Figure 5. US Dominated The North America Carbon Fiber Market In 2018
Figure 6. North America Carbon Fiber Market, Industry Landscape
Figure 7. North America– PEST Analysis
Figure 8. North America Carbon Fiber Market Impact Analysis of Driver and Restraints
Figure 9. North America Carbon Fiber Market Forecast And Analysis, (US$ Mn)
Figure 10. North America Carbon Fiber Market Breakdown by Precursor, 2018 & 2027 (%)
Figure 11. North America PAN Market Revenue Forecasts To 2027 (US$ Mn)
Figure 12. North America Pitch Market Revenue Forecasts To 2027 (US$ Mn)
Figure 13. North America Carbon Fiber Market Breakdown by Form, 2018 & 2027 (%)
Figure 14. North America Composites Carbon Fiber Market Revenue Forecasts To 2027 (US$ Mn)
Figure 15. North America Non-Composites Carbon Fiber Market Revenue Forecasts To 2027 (US$ Mn)
Figure 16. North America Carbon Fiber Market Breakdown by End-use industry, 2018 & 2027 (%)
Figure 17. North America Automotive Market Revenue Forecasts To 2027 (US$ Mn)
Figure 18. North America Aerospace & Defense Market Revenue Forecasts To 2027 (US$ Mn)
Figure 19. North America Construction Market Revenue Forecasts To 2027 (US$ Mn)
Figure 20. North America Sporting Goods Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 21. North America Wind Energy Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 22. North America Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 23. North America Carbon Fiber market Breakdown by Key Countries, 2018 & 2027(%)
Figure 24. US Carbon Fiber market Forecasts to 2027 (US$ MN)
Figure 25. Canada Carbon Fiber market Forecasts to 2027 (US$ MN)
Figure 26. Mexico Carbon Fiber market Forecasts to 2027 (US$ MN)
The List of Companies North America Carbon Fiber Market
- 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 North America 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.