The global carbon fiber market will reach 9 billion U.S. dollars in 2031. Small tow high-end products will still occupy the main market

According to the latest research report released by Fact.MR, a well-known foreign market research and consulting service provider, during the forecast period of 2021-2031, the global carbon fiber market will enter an impressive period of expansion. The annual growth rate will exceed 8%, and the global carbon fiber market is expected to reach US$9 billion by 2031.

According to market statistics, from 2016 to 2020, global carbon fiber sales have soared at a compound annual growth rate of 3%, and the market size in 2020 will be close to 4 billion U.S. dollars. Due to the significant performance advantages of carbon fiber, its demand has surged. Some construction projects have also produced high demand for carbon fiber reinforced concrete.

Because of its high specific strength, carbon fiber has been used more and more in the aerospace industry. At present, carbon fiber has been widely used in the manufacture of aircraft components, including vertical stabilizers, floor beams, engine nacelles, wings, and elevators.

In recent years, manufacturers are effectively taking advantage of the growing opportunities in the global aerospace and defense sectors. The increase in national defense budgets for national security has stimulated the demand for lightweight materials, reduced operating costs, and increased the use of carbon fiber.

market prediction

The research report sorts out the development information of the global carbon fiber market from 2021-2031 in detail. Important points related to market information include:

It is estimated that by 2031, the global carbon fiber market will more than double. The market size reaches 9 billion U.S. dollars;

It is estimated that by 2031, China will still be the most profitable region, with sales close to 50,000 tons;

PAN-based carbon fiber will occupy more than 95% of the market share;

It is estimated that by 2031, aerospace and defense applications will still be the largest area of carbon fiber sales, which is expected to account for close to 60% of total sales;

The global carbon fiber will still be dominated by small tow carbon fiber, and the sales volume is expected to exceed 75,000 tons;

The United States will experience higher demand growth, with a compound annual growth rate of approximately 7%;

The rapid growth of the German industrial market will stimulate more than one-third of global carbon fiber revenue;

The surge in demand for lightweight and environmentally friendly building materials will boost the prospects of the global fiber industry.

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