Indian carbon fiber market is estimated to grow significantly at a CAGR of around 11.6% during the forecast period. The factors that positively affect the growth of the market include the rising demand for clean energy and the increasing production of aircraft in the country. Further, increasing R&D activities in the aerospace and defense sector is expected to drive the market growth in the country.
Indian carbon fiber market is segmented on the basis of raw material, fiber type, and industry vertical. Based on 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 significant share in the market attributed to the increased production by the major aerospace and defense manufacturers.
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The companies which are contributing to the growth of the Indian carbon fiber market include Hyosung Corp., Jiangsu Hengshen Co. Ltd., Kureha Corp., Toray Industries Inc., Teijin Ltd., ZHONGFU SHENYING CARBON FIBER CO., LTD., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market.
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Indian Carbon Fiber Market Segmentation
· Indian Carbon Fiber Market by Raw Material
· Polyacrylonitrile (PAN)
· Petroleum Pitch & Rayon
· Indian Carbon Fiber Market by Fiber Type
· Virgin Carbon Fiber
· Recycled Carbon Fiber
By Industry Verticals
· Aerospace & Defense
· Automotive
· Construction Infrastructure
· Others (Sporting Goods)
Company Profiles
· Formosa Plastics Corp.
· Hyosung Corp.
· Jiangsu Hengshen Co. Ltd.
· Kureha Corp.
· Nippon Carbon Co. Ltd.
· Osaka Gas Chemicals Co., Ltd.
· Toray Industries Inc.
· Teijin Ltd.
· Taekwang Industrial Co. Ltd.
· Weihai Guangwei Composites Co., Ltd.
· ZHONGFU SHENYING CARBON FIBER CO., LTD.
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