The Global carbonfiber market will be held at USD 5.203 billion in 2020 and is to grow witha CAGR of 10.70% from 2020-2030. All sectors have relied on Materials andChemicals to keep their manufacturing lines stocked with raw materials. Becauseof the critical significance of this business, we have a compelling need tocomprehend its influence on the global economy. As urban environments evolve atbreakneck speed, the sector has seen a spike in demand for speciality chemicalsand diverse types of materials.A chemical compound is a separate substance orcombination that has been created or refined intentionally, whereas a materialis a compound that is used to make more complicated materials. Chemicals, bothorganic and inorganic in origin, are the fundamental components of manymaterials. Ceramics, adhesives, metals, composites, polymers, and glasses areall common materials. Chemicals and materials are used in a wide range ofend-use sectors, including automotive, power and energy, agriculture, food anddrinks, instrumentation, consumer products, aerospace and military, healthcare,and information technology.
Market Dynamics andFactors:
To reduce the negative impact ofchemical manufacture on the environment, chemical firms are progressivelyembracing sustainable and environmentally friendly procedures. Chemicalbusinesses may now create chemical goods using alternative fuels because toadvancements in technology and chemical sciences. They use carbon dioxide fromthe atmosphere to make fuels, industrial goods, and other chemicals.For someyears from now the pharmaceutical, nutrition, and hygiene industries willlikely trend upward, while the automobile, construction, and consumerindustries will likely trend lower. With a renewed focus on broadening productportfolios, end-user applications have become the major focus for most chemicalfirms, and they may take advantage of the current crisis to make productportfolio adjustments. Chemical businesses may consider aligning their productstrategy with market movements, prioritising demand, and leveraging existingand near-term trends to profit on new sources of demand, such as hygiene goodsand services such as antibacterial coatings. The rapid economic expansion innations like India and China has driven demand for infrastructure and building,which has resulted in an increase in the number of infrastructural developmentoperations. As a result, the chemicals and materials industry has a veryfavourable environment to expand in.
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Market Segmentation:
Based on the raw material, the global carbon fiber market issegmented into PAN-based carbon fiber, pitch-based & rayon-based carbonfiber. Depending upon the basis of type the market is classified intocontinuous, long, and short. Considering the form, the global carbon fiber marketis bifurcated into composite and non-composite. On the basis of end use, themarket is segmented into aerospace & defense, sports/leisure, windturbines, molding & compounds, automotive, pressure vessels, civilengineering, marine, pultrusion misc., sailing/yacht building, and others.Regional segmentation of global carbon fiber market includes North America,Europe, Asia-Pacific, and RoW.
Competitive Analysis:
o Mitsubishi Chemical Holdings Corporation
o Nippon Steel,
o Zoltek Companies, Inc.
o Sumitomo Metal Corporation
o Holding B.V.
o Hexcel Corporation
o SGL Carbon SE
o Solvay SA
o Teijin Limited (Teijin)
o OJSC SvetlogorskKhimvolokno
o Toray Industries Inc.
o Hyosung Corporation.
o Formosa Plastics
o Toho Tenax Co.
o DowAksa Advanced CompositesCrosby Composites
o Plasan Carbon Composites
o GKN.TenCate,
o AKSA
o Gurit
o Mitsubishi Plastics
Geographic Analysis:
On a regional basis, The UnitedStates accounted for the biggest proportion of the Carbon Fiber Market in NorthAmerica. The country's speciality chemical industry is being boosted by rapidindustrial growth and technical developments in the industrialsector.Asia-Pacific accounted for one-third of total market share, the highestamong all regions. This is due to the presence of important emerging economiesin this region, such as China, India, and Japan, which accounted for thelargest share of the Carbon Fiber Market. Paints and coatings, water treatment,personal care products and cosmetics, electronics, agriculture, and otherchemicals& materials are largely utilised in the Asia-Pacific area. Forforeign investors, these locations provide excellent investment prospects.
In Asia, China is the largestmarket for speciality chemicals. Value chains are rapidly moving eastward, drivenby economic development and commercial possibilities in Asia, posingsignificant difficulties for the European chemical sector. State-controlledplayers and rising chemical behemoths are developing in a new, more competitiveenvironment. In order to manage volatility on a playing field where trade flowschange direction gradually, fragile economic circumstances must be managed.Understanding these difficulties and, more significantly, developing the beststrategic alternatives to succeed in this new competitive climate, are at thetop of any chemical executive's priority list. The MEA speciality chemicalsmarket is being driven by the revival of the oil and gas sector, expandingagrochemical consumption in African countries, and increasing building activitiesfor the creation of new industrial facilities, commercial centres, and housingprojects.
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