The North American carbon fiber market is estimated to grow significantly at a CAGR of around 8.5% during the forecast period. The market growth is attributed to the significant presence of major end-user industries of carbon fiber in the region. The aviation industry highly relies on light and efficient materials such as carbon fiber owing to its high mechanical and thermal properties. Increasing demand for commercial air transport owing to the rising disposable income and globalization is driving the aviation industry in the region, thereby anticipated to drive the market growth. Further, the presence of major aircraft players in the region creates the demand for the carbon fiber to produce aircraft parts and therefore, contributes to the regional growth of the market.
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The North American 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 & defense manufacturers. The commercial aerospace industry is the largest user of advanced composites such as carbon fiber. 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.The companies which are contributing to the growth of the North American carbon fiber market include Hexcel Corp., Mitsubishi Chemical Carbon Fiber and Composites, Inc., Nippon Carbon Co. Ltd., RTP Co., Toray Industries Inc., and others. The market players are considerably contributing to the market growth by adopting various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market.
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North American Carbon Fiber Market Segmentation
- 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
- Hexcel Corp.
- Mitsubishi Chemical Holdings Corp.
- Nippon Carbon Co. Ltd.
- Solvay SA
- SGL Carbon SE
- Toray Industries, Inc.
- Teijin Ltd.
- UMATEX, ROSATOM State Corp.
- Weihai Guangwei Composites Co., Ltd.
- ZHONGFU SHENYING CARBON FIBER CO., LTD.
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