The LAMEA carbon fiber market is estimated to grow significantly during the forecast period. The market growth is attributed to the significant presence of major end-user industries of carbon fiber in the region. According to SIPRI, Saudi Arabia had a military expenditure of nearly $63.7 billion, $70.4 billion, and $67.6 billion in 2016, 2017, and 2018, respectively. Moreover, the military expenditure of Israel and Iran was $15.9 billion and $13.2 billion in 2018, respectively. The well-developed aerospace & defense industry of Israel and significant trade relations with the US for military and defense projects create considerable demand for the carbon fiber in the region.
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The LAMEA carbon fiber market is segmented on the basis of raw material, fiber type, and industry vertical. On the basis of raw material, the market is sub-segmented into PAN and petroleum pitch & rayon. Based on the fiber type, the market is classified into virgin carbon fiber and recycled carbon fiber. Based on the industry verticals, the market is classified into aerospace & defense, automotive, construction infrastructure, and others such as sporting goods. Among these, the aerospace & defense industry segment accounted for a major share in the market. The market value is attributed to the increased production by the major aerospace and defense manufacturers. Further, demand by the aerospace & defense industry is primarily attributed to the demand for military aircraft that utilize advanced composites, including both commercial and military aviation.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
LAMEA Carbon Fiber Market by Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
LAMEA Carbon Fiber Market by Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon Fiber
LAMEA Carbon Fiber Market by Industry Verticals
- Aerospace & Defense
- Automotive
- Construction Infrastructure
- Others (Sporting Goods)
Regional Analysis
- Latin America
- Middle East
- Africa
Company Profiles
- Formosa Plastics Corp.
- Hexcel Corp.
- Kureha Corp.
- Mitsubishi Chemical Carbon Fiber and Composites, Inc.
- Nippon Carbon Co. Ltd.
- RTP Co.
- Solvay SA
- SGL Carbon SE
- Toray Industries Inc.
- Teijin Ltd.
The Report Covers
- Comprehensive research methodology of the LAMEA carbon fiber market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the LAMEA carbon fiber market.
- Insights about market determinants which are stimulating the LAMEA carbon fiber market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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