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.
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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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Raw Material and End Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 APAC Carbon Fiber Market, by Raw Material
1.3.2 APAC Carbon Fiber Market, by End Use Industry
1.3.3 APAC 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
4.2.1 PEST Analysis: APAC Carbon Fiber Market
4.3 Expert Opinions
5. APAC Carbon Fiber Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Escalating demands from automotive and aerospace applications
5.1.2 Growing usage of carbon fiber in wind energy industry
5.2 Key Market Restraints
5.2.1 Surge in costs and other disadvantages associated with carbon fibers
5.3 Key Market Opportunities
5.3.1 Increasing usage of carbon fiber in the sporting goods industry
5.4 Key Future Trends
5.4.1 Growing use of carbon in 3D printing
5.5 Impact Analysis
6. Carbon Fiber– APAC Market Analysis
6.1 AAPC Carbon Fiber Market Overview
6.2 APAC Carbon Fiber Market Forecast And Analysis
7. APAC Carbon Fiber Market Analysis – by Raw Material
7.1 Overview
7.2 APAC Carbon Fiber Market Breakdown, By Raw Material, 2019 & 2027
7.3 Polyacrylonitrile (PAN)
7.3.1 Overview
7.3.2 APAC PAN Market Revenue Forecasts to 2027 (US$ Mn)
7.4 Pitch
7.4.1 Overview
7.4.2 APAC Pitch Market Revenue Forecasts to 2027 (US$ Mn)
8. APAC Carbon Fiber Market Analysis – By End-Use Industry
8.1 Overview
8.2 APAC Carbon Fiber Market Breakdown, By End-Use Industry, 2019 & 2027
8.3 Automotive
8.3.1 Overview
8.3.2 APAC Automotive Market Revenue and Forecasts to 2027 (US$ MN)
8.4 Aerospace and Defense
8.4.1 Overview
8.4.2 APAC Aerospace and Defense Revenue And Forecasts to 2027 (US$ MN)
8.5 Construction
8.5.1 Overview
8.5.2 APAC Construction Revenue and Forecasts to 2027 (US$ MN)
8.6 Sporting Goods
8.6.1 Overview
8.6.2 APAC Sporting Goods Revenue and Forecasts to 2027 (US$ MN)
8.7 Wind Energy
8.7.1 Overview
8.7.2 APAC Wind Energy Revenue and Forecasts to 2027 (US$ MN)
8.8 Others
8.8.1 Overview
8.8.2 APAC Others Revenue and Forecasts to 2027 (US$ MN)
9. Country Analysis of APAC Carbon Fiber Market
9.1 APAC Carbon Fiber Market Revenue And Forecasts To 2027
9.1.1 APAC Carbon Fiber Market Revenue Forecasts to 2027 (US$ Mn)
9.1.2 APAC Carbon Fiber Market Breakdown by Raw Material
9.1.3 APAC Carbon Fiber Market Breakdown by End Use Industry
9.1.4 APAC Carbon Fiber Market Breakdown, by Country
9.1.4.1 China Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN )
9.1.4.1.1 China Carbon Fiber Market Breakdown by Raw Material
9.1.4.1.2 China Carbon Fiber Market Breakdown by End Use Industry
9.1.4.2 India Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN )
9.1.4.2.1 India Carbon Fiber Market Breakdown by Raw Material
9.1.4.2.2 India Carbon Fiber Market Breakdown by End Use Industry
9.1.4.3 Japan Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN )
9.1.4.3.1 Japan Carbon Fiber Market Breakdown by Raw Material
9.1.4.3.2 Japan Carbon Fiber Market Breakdown by End Use Industry
9.1.4.4 South Korea Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN )
9.1.4.4.1 South Korea Carbon Fiber Market Breakdown by Raw Material
9.1.4.4.2 South Korea Carbon Fiber Market Breakdown by End Use Industry
9.1.4.5 Taiwan Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN )
9.1.4.5.1 Taiwan Carbon Fiber Market Breakdown by Raw Material
9.1.4.5.2 Taiwan Carbon Fiber Market Breakdown by End Use Industry
9.1.4.6 Rest of APAC Carbon Fiber Market Revenue Forecasts to 2027 (US$ MN )
9.1.4.6.1 Rest of APAC Carbon Fiber Market Breakdown by Raw Material
9.1.4.6.2 Rest of APAC Carbon Fiber Market Breakdown by End Use Industry
10. Overview- Impact of COVID-19
10.1 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Merger & Acquisition
11.2 Product news
11.3 Investment Scenario
12. Company Profiles
12.1 Formosa Plastics Corporation
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 Hexcel 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 Hyosung 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 Kureha 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
12.5 Mitsubishi Chemical 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
12.5.6 Key Developments
12.6 SGL Carbon
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 Solvay
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 SWOT Analysis
12.7.5 Key Developments
12.8 Teijin Limited
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Toray Industries, Inc.
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
13. Appendix
13.1 About The Insight Partners
13.2 Glossary
LIST OF TABLES
Table 1. APAC Carbon fiber Market Revenue And Forecasts To 2027 (US$ Mn)
Table 2. APAC Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 3. APAC Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 4. China Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 5. China Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 6. India Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 7. India Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 8. Japan Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 9. Japan Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 10. South Korea Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 11. South Korea Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 12. Taiwan Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 13. Taiwan Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 14. Rest of APAC Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)
Table 15. Rest of APAC Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)
Table 16. Glossary of terms, Carbon Fiber Market
LIST OF FIGURES
Figure 1. APAC Carbon Fiber Market Segmentation
Figure 2. APAC Carbon Fiber Market Segmentation – By Country
Figure 3. APAC Carbon Fiber Market Overview
Figure 4. Polyacrylonitrile Held Larger Share of APAC Carbon fiber Market in 2019
Figure 5. APAC Carbon Fiber Market, by Country, Value and CAGR
Figure 6. Carbon Fiber Industry Landscape
Figure 7. PEST Analysis for APAC Carbon Fiber Market
Figure 8. Impact Analysis of Drivers and Restraints
Figure 9. APAC Carbon Fiber Market Forecast And Analysis, (US$ Mn)
Figure 10. APAC Carbon Fiber Market Breakdown By Raw Material, Value, 2019 & 2027 (%)
Figure 11. APAC PAN Market Revenue Forecasts To 2027 (US$ Mn)
Figure 12. APAC Pitch Market Revenue Forecasts To 2027 (US$ Mn)
Figure 13. APAC Carbon Fiber Market Breakdown By End-Use Industry, By Value, 2019 & 2027 (%)
Figure 14. APAC Automotive Market Revenue and Forecasts to 2027 (US$ MN)
Figure 15. APAC Aerospace and Defense Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 16. APAC Construction Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 17. APAC Sporting Goods Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 18. APAC Wind Energy Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 19. APAC Others Market Revenue and Forecasts To 2027 (US$ Mn)
Figure 20. APAC Carbon Fiber Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 21. APAC Carbon Fiber Market Revenue And Forecasts To 2027 (US$ Mn)
Figure 22. APAC Carbon Fiber Market Breakdown, By Raw Material , 2019 & 2027 (%)
Figure 23. APAC Carbon Fiber Market Breakdown by End Use Industry, 2019 & 2027 (%)
Figure 24. APAC Carbon Fiber Market Breakdown by Country, 2019 & 2027(%)
Figure 25. China Carbon Fiber Market Revenue And Forecasts To 2027 (US$ MN)
Figure 26. India Carbon Market Revenue And Forecasts To 2027 (US$ MN)
Figure 27. Japan Carbon Fiber Market Revenue And Forecasts To 2027 (US$ MN)
Figure 28. South Korea Carbon Market Revenue And Forecasts To 2027 (US$ MN)
Figure 29. Taiwan Carbon Market Revenue And Forecasts To 2027 (US$ MN)
Figure 30. Rest Of APAC Carbon Fiber Market Revenue And Forecasts To 2027 (US$ MN)
Figure 31. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
The List of Companies - Asia Pacific Carbon Fiber Market
- DowAksa
- Formosa Plastics Corporation
- Hexcel Corporation
- Hyosung Corporation
- Kureha Corporation
- Mitsubishi Chemical Corporation
- SGL Carbon
- Solvay
- Teijin Limited
- Toray Industries, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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