Market Research Future published a Half Cooked Research Report on “Global Carbon Fiber Wrap Market Research Report – Forecast to 2027”– Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Kureha Corporation, SGL Group – The Carbon Company, Zoltek Companies, Mitsubishi Rayon, Teijin Ltd, Hexcel Corporation, DowAksa, Kemrock Industries and Exports, Formosa Plastics Corporation, Cytec Industries, and Toray Industries among others are some of the prominent players at the forefront of competition in the Global Carbon Fiber Wrap Market and are profiled in MRFR Analysis.
Carbon Fiber Wrap Market – Overview
Carbon Fiber Wrap are predominantly utilized in number of end use application such as defense & aerospace, automotive, sports, construction, wind energy, and others. Carbon Fiber Wrap market is predicted to witness significant growth on account of their broad range of application usage specifically in automotive, aerospace, and construction. On the basis of the end use application segment, automotive and construction together accounted for the largest market share in terms of volume and value due to increasing per capita disposable income along with growing vehicle production and sales in developing countries, moreover, increasing commercial as well as residential construction activities in developed and developing countries is predicted to fuel the growth of the market. Defense & Aerospace segment is estimated to witness tremendous growth due to increasing defense budget in various nation along with growing need for lightweight and durable material.
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Geographically, Europe emerged as the largest market for carbon fiber wrap in 2016, followed by Asia Pacific and North America. The North American carbon fiber wrap market is predicted to witness above average growth with a healthy CAGR over the assessment period due to strong growth of aerospace industry along with increasing commercial construction activities in this region. In North America the market is further categorized into Canada and the U.S., among them the U.S. accounted for more than half of the total regional market share of carbon fiber wrap on account of large defense budget along with high adoption rate from aerospace industry. Asia Pacific is estimated to witness healthy growth over the forecast period, during 2017 to 2027. The demand for carbon fiber wrap is estimated to raise in various economies of Asia Pacific such as China, India, Japan, Taiwan, Malaysia, Thailand, Singapore, Australia, and South Korea owing to rising middle class population combined with shifting of production facilities for many major market players in this region. In Europe, carbon fiber wrap market is estimated to register steady growth on account of shifting consumer preference towards the carbon fiber wrap based sporting material along with the robust presence of automotive manufacturers specifically in Italy, U.K., Germany, Spain, France, and Russia. Furthermore, various countries of Latin America and the Middle East & Africa are expected to witness above average growth in carbon fiber wrap on account of increasing disposable income along with increasing sales of passenger cars specifically in Brazil and Mexico as well as growing institutional, commercial, and residential construction activities in Saudi Arabia, Kuwait, Qatar, and the UAE.
Industry/ Innovation/ Related News:
July 2017– Solvay S.A announced to acquire Carbon Fiber GmbH, a Germany based carbon fiber manufacturer. This acquisition will help company to build the foundation to top the adoption of plastic composites in various application such as automotive and aerospace. This acquisition is estimated to help organization to grow its portfolio of large tow carbon fibers to improve their scope of pitch and PAN aerospace grade carbon fibers.
March 2014– DowAksa, a joint venture between Istanbul based acrylic specialist and U.S. based Dow chemicals announced to establish an industrial grade carbon fiber production operation in the U.S. This strategic move will help company to strengthen its position in carbon fiber manufacturers across the globe.
The Carbon Fiber Wrap report has analysed the level of competition among the major manufacturers as well as sector growth and market scenario. The global carbon fiber wrap market comprised of a large number of suppliers operating in the market which comprises large scale and medium scale manufacturers. The prominent manufacturers of carbon fiber wrap as well as medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from Australia, Taiwan Malaysia, Thailand, India, Singapore, China, South Korea, Bangladesh, Indonesia, and Japan. On the other hand, the major manufacturers of carbon fiber wrap is following various strategic plans to improve their product portfolio by set up research and development centres across the various locations in world, strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Some of the key players in this market are growing their production capacity of carbon fiber wrap to meet the rising demand for carbon fiber wrap across the globe.
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