North America Carbon Fiber Market Report
RA00008
North America Carbon Fiber Market by Raw Material (PAN-Based carbon fiber, Pitch-Based & Rayon-Based Carbon Fiber), Type (Continuous, Long and Short), Form (Composite, and Non-Composite), and End-User (Aerospace & Defense, Sports/Leisure, Wind Turbines, Molding and Compounds, Automotive, Pressure Vessels, Civil Engineering, Marine, Pultrusion Misc., Misc. Consumer, Sailing/Yacht Building, and Others): Opportunity Analysis and Industry Forecast, 2018–2025
Update Available On-Demand
North America Carbon Fiber Market Outlook 2025:
The North America carbon fiber market was valued at US$ 1,001 million in 2017 and is projected to reach US$ 2,331 million by 2025, growing at a CAGR of 11.0% from 2018 to 2025.
Carbon fiber is composed of carbon atoms that form a crystal-like structure when they bond, resulting in a long chain. It is lightweight, modulus, fire retardant, high tensile strength, temperature tolerant, thermal and electrical conductor material. It has end-users across aerospace and defense, civil engineering, pressure vessels, sports, wind turbines, and many other industries.
The North America carbon fiber market is driven by increased penetration of carbon fiber components in the automotive industry. The automotive industry witnessed a shift from conventional materials to carbon fiber material due to its high strength and flexibility. Furthermore, government rules and regulations on reducing greenhouse gas emissions also benefit the carbon fiber market. Moreover, the increased demand in aerospace and defense for high-performance carbon fiber also complements the carbon fiber market.
Carbon fiber found its usage in wind turbines due to its high tensile strength and flexibility, creating a higher opportunity for the industry. Moreover, several end-users of carbon fiber in the medical industry due to radiolucent properties and high modulus of elasticity also provide opportunities for the industry. However, the production of carbon fiber takes a longer time in production resulting in lower availability which acts as restrain. In addition, the high price of carbon fiber also acts as a restrain for the North America carbon fiber market.
The North America carbon fiber market is divided into segments based on raw material, type, form, and end-user. Based on raw material, the classification is done into PAN-based carbon fiber, pitch-based & rayon-based carbon fiber. Based on type, the segment is divided into continuous, long, and short. Form segment is further divided into composite and non-composite. Based on end-user, the segment division is done into aerospace & defense, sports/leisure, wind turbines, moldings & compounds, automotive, pressure vehicles, civil engineering, marine, pultrusion misc., misc. consumer, sailing/yacht building, and others. By country, the North America carbon fiber market analysis is done across countries U.S., Canada, and Mexico.
The major key players operating in the North America Carbon Fiber industry include Hexcel Corporation, Solvay, Plasan Carbon Composites, TORAY INDUSTRIES, INC., and Mitsubishi Chemical Corporation, 3M, Nippon Graphite Fiber Co., Ltd., DowAksa, Formosa Plastics Corporation, U.S.A. and Advanced Composites Inc. The North American companies are expanding their business in emerging markets to increase their regional footprint. The companies are adopting various strategies like mergers, collaboration, acquisition, and agreements for business expansion and technological advancements.
The degree of industry attractiveness in the North America carbon fiber market is analyzed based on impact of five major forces on the market. Porter’s five forces analysis includes the impact of suppliers, industry rivals, new entrants, substitute products, and buyers on the market growth. The suppliers for Carbon Fiber include various domestic and international producers of Pan-based, pitch-based and rayon-based carbon fiber. Porter’s five forces model analyzes the macro- and microbusiness factors of the North American market. The consumers in the market are from aerospace & defense, automotive, pressure vehicles and others.
Based on country, U.S. accounts for major share in the North America carbon fiber market and is attributed to be fastest growing followed by Canada and Mexico. Factors such as increased penetration of carbon fiber and trend to reduce greenhouse gas emissions contribute majorly in growth of carbon fiber market. Based on raw material, the PAN-based carbon fiber segment dominated the market in 2017, owing to high resistance to most chemicals and solvents. In addition, characteristics such as rigidity, hardness and compatibility with polar substances make it ideal choice for raw materials.
Based on type, continuous carbon fiber segment dominates the market followed by long carbon fiber and then short carbon fiber. Continuous carbon fiber segment is expected to grow faster with major market share due to its high tensile strength and low density. Based on form, the composite carbon fiber has large share due to End-Users in automobiles for weight reduction, increasing fuel efficiency. The non-composite segment is expected to grow at lower rate. Based on end-user, the wind turbines, automotive, sailing/yacht building and Marine segments are expected to grow with the highest CAGR during the forecast period. The increase in End-User of carbon fiber in various end-user market boost the North America carbon fiber market.
KEY BENEFITS FOR STAKEHOLDERS
- Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the North American carbon fiber industry for strategy building.
- It outlines the current North America carbon fiber market trends and future scenario of the market size from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
- Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
- The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
- The profiles of key players along with their key strategic developments are enlisted in the North America carbon fiber market analysis.
KEY MARKET SEGMENTS
By Raw Material
- PAN-based Carbon Fiber
- Pitch-based & Rayon-based Carbon Fiber
By Type
- Continuous
- Short
- Long
By Form
- Composite
- Non-Composite
By End-User
- Aerospace & Defense
- Sports/Leisure
- Wind Turbines
- Molding & Compounds
- Automotive
- Pressure Vessels
- Civil Engineering
- Marine
- Pultrusion Misc.
- Misc. Consumer
- Sailing/Yacht Building
- Others (Energy and Oil & Gas)
By Country
- U.S.
- Canada
- Mexico
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Primary research
1.4.2. Secondary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top Investment Pockets
2.1.2. Market Player Positioning, 2018
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market Definition And Scope
3.2. Parent/Peer Market Overview
3.3. Key Forces Shaping North America Carbon Fiber Market
3.3.1. Bargaining power of suppliers
3.3.2. Threat of new entrants
3.3.3. Threat of substitutes
3.3.4. Intensity of rivalry
3.3.5. Bargaining power of buyers
3.4. Pricing Analysis
3.4.1. Pricing Analysis of Carbon Fiber Market, By Region, 2018 to 2025
3.4.2. Pricing Analysis of Carbon Fiber Market, By Raw Material, 2018 to 2025
3.4.3. Pricing Analysis of Carbon Fiber Market, By Type, 2018 to 2025
3.4.4. Pricing Analysis of Carbon Fiber Market, By Form, 2018 to 2025
3.4.5. Pricing Analysis of Carbon Fiber Market, By End-User, 2018 to 2025
3.5. Value Chain Analysis
3.6. Impact Of Government Regulations On Carbon Fiber Market
3.7. Patent Analysis
3.8. Market Dynamics
3.8.1. Drivers
3.8.2. Restraints
3.8.3. Opportunities
CHAPTER 4: NORTH AMERICA CARBON FIBER MARKET, BY RAW MATERIAL
4.1. Overview
4.2. PAN-Based Fiber Carbon Fiber
4.2.1. Key market trends, growth factors and opportunities
4.2.2. Market size and forecast, by region
4.2.3. Market analysis by country
4.3. Pitch-Based & Rayon-Based Carbon fiber
4.3.1. Key market trends, growth factors and opportunities
4.3.2. Market size and forecast, by region
4.3.3. Market analysis by country
CHAPTER 5: NORTH AMERICA CARBON FIBER MARKET, BY TYPE
5.1. Overview
5.2. Continuous
5.2.1. Key market trends, growth factors and opportunities
5.2.2. Market size and forecast, by region
5.2.3. Market analysis by country
5.3. Long
5.3.1. Key market trends, growth factors and opportunities
5.3.2. Market size and forecast, by region
5.3.3. Market analysis by country
5.4. Short
5.4.1. Key market trends, growth factors and opportunities
5.4.2. Market size and forecast, by region
5.4.3. Market analysis by country
CHAPTER 6: NORTH AMERICA CARBON FIBER MARKET, BY FORM
6.1. Overview
6.2. Composite
6.2.1. Key market trends, growth factors and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis by country
6.3. Non-Composite
6.3.1. Key market trends, growth factors and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis by country
CHAPTER 7: NORTH AMERICA CARBON FIBER MARKET, BY END-USER
7.1. Overview
7.2. Aerospace & Defense
7.2.1. Key market trends, growth factors and opportunities
7.2.2. Market size and forecast, by region
7.2.3 Market analysis by country
7.3. Sports/Leisure
7.3.1. Key market trends, growth factors and opportunities
7.3.2. Market size and forecast, by region
7.3.3. Market analysis by country
7.4. Wind Turbines
7.4.1. Key market trends, growth factors and opportunities
7.4.2. Market size and forecast, by region
7.4.3. Market analysis by country
7.5. Moldings & Compounds
7.5.1. Key market trends, growth factors and opportunities
7.5.2. Market size and forecast, by region
7.5.3. Market analysis by country
7.6. Automotives
7.6.1. Key market trends, growth factors and opportunities
7.6.2. Market size and forecast, by region
7.6.3. Market analysis by country
7.7. Pressure Vehicles
7.7.1. Key market trends, growth factors and opportunities
7.7.2. Market size and forecast, by region
7.7.3. Market analysis by country
7.8. Civil Engineering
7.8.1. Key market trends, growth factors and opportunities
7.8.2. Market size and forecast, by region
7.8.3. Market analysis by country
7.9. Marine
7.9.1. Key market trends, growth factors and opportunities
7.9.2. Market size and forecast, by region
7.9.3. Market analysis by country
7.10. Pultrusion Misc.
7.10.1. Key market trends, growth factors and opportunities
7.10.2. Market size and forecast, by region
7.10.3. Market analysis by country
7.11. Misc. Consumer
7.11.1. Key market trends, growth factors and opportunities
7.11.2. Market size and forecast, by region
7.11.3. Market analysis by country
7.12. Sailing/Yacht Building
7.12.1. Key market trends, growth factors and opportunities
7.12.2. Market size and forecast, by region
7.12.3. Market analysis by country
7.13. Others
7.13.1. Key market trends, growth factors and opportunities
7.13.2. Market size and forecast, by region
7.13.3. Market analysis by country
CHAPTER 8: NORTH AMERICA CARBON FIBER MARKET, BY COUNTRY
8.1. Overview
8.2. North America
8.2.1. Key market trends, growth factors and opportunities
8.2.2. Market size and forecast, by Raw Material
8.2.3. Market size and forecast, by Type
8.2.4. Market size and forecast, by Form
8.2.5. Market size and forecast, by End-User
8.2.6. Market analysis by country
8.2.6.1. U.S.
8.2.6.1.1. Socio-Economic & Micro-Macro Indicators
8.2.6.1.2. Market size and forecast, by Raw Material
8.2.6.1.3. Market size and forecast, by Type
8.2.6.1.4. Market size and forecast, by Form
8.2.6.1.5. Market size and forecast, by End-User
8.2.6.2. Canada
8.2.6.2.1. Socio-Economic & Micro-Macro Indicators
8.2.6.2.2. Market size and forecast, by Raw Material
8.2.6.2.3. Market size and forecast, by Type
8.2.6.2.4. Market size and forecast, by Form
8.2.6.2.5. Market size and forecast, by End-User
8.2.6.3. Mexico
8.2.6.3.1. Socio-Economic & Micro-Macro Indicators
8.2.6.3.2. Market size and forecast, by Raw Material
8.2.6.3.3. Market size and forecast, by Type
8.2.6.3.4. Market size and forecast, by Form
8.2.6.3.5. Market size and forecast, by End-User
CHAPTER 9: COMPETITIVE LANDSCAPE
9.1. COMPETITIVE DASHBOARD
9.2. PRODUCT MAPPING OF TOP 10 PLAYER
9.3. TOP WINNING STRATEGIES, 2015 - 2018
9.3.1. Top winning strategies, by year
9.3.2. Top winning strategies, by development
9.3.3. Top winning strategies, by company
CHAPTER 10: COMPANY PROFILES
10.1. Hexcel Corporation
10.1.1. Company overview
10.1.2. Company snapshot
10.1.3. Key Executives
10.1.4. Operating Business Segments & Product Portfolio
10.1.5. R&D Expenditure
10.1.6. Business Performance
10.1.7. Key Strategic Moves and Developments
10.2. Solvay
10.2.1. Company overview
10.2.2. Company snapshot
10.2.3. Key Executives
10.2.4. Operating Business Segments & Product Portfolio
10.2.5. R&D Expenditure
10.2.6. Business Performance
10.2.7. Key Strategic Moves and Developments
10.3. Plasan Carbon Composites
10.3.1. Company overview
10.3.2. Company snapshot
10.3.3. Key Executives
10.3.4. Operating Business Segments & Product Portfolio
10.3.5. R&D Expenditure
10.3.6. Business Performance
10.3.7. Key Strategic Moves and Developments
10.4. TORAY INDUSTRIES, Inc.
10.4.1. Company overview
10.4.2. Company snapshot
10.4.3. Key Executives
10.4.4. Operating Business Segments & Product Portfolio
10.4.5. R&D Expenditure
10.4.6. Business Performance
10.4.7. Key Strategic Moves and Developments
10.5. Mitsubishi Chemical Corporation
10.5.1. Company overview
10.5.2. Company snapshot
10.5.3. Key Executives
10.5.4. Operating Business Segments & Product Portfolio
10.5.5. R&D Expenditure
10.5.6. Business Performance
10.5.7. Key Strategic Moves and Developments
10.6. 3M
10.6.2. Company snapshot
10.6.3. Key Executives
10.6.4. Operating Business Segments & Product Portfolio
10.6.5. R&D Expenditure
10.6.6. Business Performance
10.6.7. Key Strategic Moves and Developments
10.7. Nippon Graphite Fiber Co., Ltd.
10.7.1. Company overview
10.7.2. Company snapshot
10.7.3. Key Executives
10.7.4. Operating Business Segments & Product Portfolio
10.7.5. R&D Expenditure
10.7.6. Business Performance
10.7.7. Key Strategic Moves and Developments
10.8. DowAksa
10.8.1. Company overview
10.8.2. Company snapshot
10.8.3. Key Executives
10.8.4. Operating Business Segments & Product Portfolio
10.8.5. R&D Expenditure
10.8.6. Business Performance
10.8.7. Key Strategic Moves and Developments
10.9. Formosa Plastic Corporation, U.S.A.
10.9.1 Company overview
10.9.2. Company snapshot
10.8.3. Key Executives
10.8.4. Operating Business Segments & Product Portfolio
10.8.5. R&D Expenditure
10.9.6. Business Performance
10.9.7. Key Strategic Moves and Developments
10.10. Advanced Composites Inc.
10.10.1. Company overview
10.10.2. Company snapshot
10.10.3. Key Executives
10.10.4. Operating Business Segments & Product Portfolio
10.10.5. R&D Expenditure
10.10.6. Business Performance
10.10.7. Key Strategic Moves and Developments
CHAPTER 11: APPENDIX
Carbon fibers are about 5-10 micrometers in diameter and are mostly composed of carbon atoms. They are formed in a crystal-like structure that are strong and have high tensile strength. Carbon fibers are lightweight, flexible, have good temperature tolerance, and are electrical and thermal conductors. Some major applications of carbon fibers are in civil engineering, aerospace and defense, wind turbines, sports, pressure vessels, and other industries. Moreover, carbon fibers are considered stronger than steel in terms of strength to weight ratios. Since the process of making carbon fibers is complex and highly specialized, carbon fibers are quite expensive.
Forecast Analysis of the North America Carbon Fiber Market
Increased utilization of carbon fibers in the automotive industry because of high tensile strength, temperature tolerance, and flexibility along with strict government regulations to reduce greenhouse gas emissions are some factors expected to drive the growth of the North America carbon fiber market by 2025. Moreover, the extensive use of carbon fibers in wind turbines and other industries like civil engineering, sports, aerospace and defense, etc. due to flexibility and radiolucent properties is also predicted to offer abundant market growth opportunities during the forecast period. However, high price of carbon fibers is the prime factor to impede the market growth.
The North America carbon fiber market is projected to witness prominent growth opportunities by 2025 due to rapid business expansion of some key market players in the emerging markets and strategic collaborations, acquisitions, and partnerships among them to increase their footprint in the region.
According to the report published by Research Dive, the North America carbon fiber market is estimated to register a revenue of $2,331 million by 2025, growing at a CAGR of 11.0% during the forecast period 2018-2025. Some key market players are Mitsubishi Chemical Corporation, Formosa Plastics Corporation, U.S.A., Hexcel Corporation, Nippon Graphite Fiber Co., Ltd., Solvay, TORAY INDUSTRIES, INC., DowAksa, 3M, Advanced Composites Inc., and Plasan Carbon Composites.
Key North America Carbon Fiber Market Developments
The significant companies operating in the industry are adopting numerous growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall, thus helping the North America carbon fiber market to flourish. For instance:
In June 2022, Strohm, the world’s first and leading manufacturer of fully bonded, thermoplastic composite pipe, announced its collaboration with Evonik Industries, a specialty chemicals company, to qualify the use of thermoplastic composite pipe (TCP) technology for offshore wind developers. The companies have collaborated in the past and produced TCP featuring Carbon Fiber PA12 tape for energy transition applications. Currently, the technology is used by conventional energy operators in North and South America.
In May 2021, Hypetex, a renowned manufacturer of colored reinforcements and advanced materials, announced its collaboration with CompositeTechs LLC, a US-based business development leader of composite materials and services. The partnership will include the sales and marketing of the former organization by CompositeTechs to further boost the production of technical colored carbon fiber materials and other reinforcements.
In November 2021, Hexcel Corporation, an American public industrial materials company, announced its partnership with Fairmat, a France-based technology startup. This strategic partnership was aimed to recycle cutoffs generated during carbon fiber prepreg production at Hexcel European operational plants and then use it in composite panels sold in industrial markets.
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