North America Carbon Fiber Market to Grow at a CAGR of 10.9% to reach US$ 2058.44 million from 2020 to 2027

North America Carbon Fiber Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Raw Material (PAN, Pitch), End Use Industry (Automotive, Aerospace and Defense, Construction, Sporting Goods, Wind Energy, and Others)

  • Report Code : TIPRE00007922
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 99
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North America Carbon Fiber Market to Grow at a CAGR of 10.9% to reach US$ 2058.44 million from 2020 to 2027

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The Carbon Fiber Market in North America is expected to grow from US$ 907.32 million in 2019 to US$ 2058.44 million by 2027; it is estimated to grow at a CAGR of 10.9% from 2020 to 2027.



The US, Canada, and Mexico are major economies in North America. 5.1.1     Rising demands from automotive and aerospace applications recently gained momentum after weak growth over the past few years the automotive manufacturers are demanding new and innovative high-quality material for producing automotive components. These materials have to fulfill the high-performance need of automotive manufacturers and also meet the needs of the customer and society. Among the various materials, carbon fiber is considered as one of the most suitable materials for lightweight automobile parts. Moreover, the carbon-fiber-reinforced composites are used as the essential materials to substitute body and other parts in an automobile. The use of carbon fiber in the automobile industry has improved brake, steering, durability, and high fuel efficiency, leading to energy conservation and minimizing carbon dioxide emissions. Leading automotive manufacturers are using carbon fiber for manufacturing components. For instance, the Airbus A350 is 52 percent carbon fiber-reinforced polymer (CFRP) and the BMW i3 has mostly CFRP chassis. Carbon fiber is also used in high-end bike frames, tennis rackets and surfboards is also bolstering the growth of the industry.

The US has the highest number of confirmed cases of coronavirus, as, compared to Canada and Mexico. This is negatively impacting the consumer goods industry in the region as the COVID-19 pandemic negatively affects the supply and distribution chain.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Carbon Fiber Market North America Carbon Fiber Market is expected to grow at a good CAGR during the forecast period.

North America Carbon Fiber Market Revenue and Forecast to 2027 (US$ Million)

North America Carbon Fiber Market Revenue and Forecast to 2027 (US$ Million)
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North America Carbon Fiber Market Segmentation

North America Carbon Fiber Market – By Raw Material

  • PAN
  • Pitch

North America Carbon Fiber Market– By End Use Industry

  • Automotive
  •  Aerospace and Defense
  •  Construction
  • Sporting Goods
  • Wind Energy
  •  Others

North America Carbon Fiber Market – By Country

  • US
  • Canada
  • Mexico   


North America Carbon Fiber Market -Companies Mentioned

  • DowAksa
  • Formosa Plastic Corporation
  • Hexcel Corporation
  • Hyosung Corporation
  • Kureha Corporation
  • Mitsubishi Chemical Corporation
  • SGL Carbon
  •  Solvay
  • Teijin Limited
  • Toray Industries,Inc
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Raw Material, End Use Industry

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 North America Carbon Fiber Market, by Raw Material

1.3.2 North America Carbon Fiber Market, by End Use Industry

1.3.3 North America Carbon Fiber Market, by Country

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. North America Carbon Fiber Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 PEST Analysis: North American Carbon Fiber Market

4.3 Expert Opinions

5. North America Carbon Fiber Market – Key Industry Dynamics

5.1 Key Market Drivers

5.1.1 Rising demands from automotive and aerospace applications

5.1.2 Increasing usage of carbon fiber in wind energy industry

5.2 Key Market Restraints

5.2.1 High costs and other disadvantages associated with carbon fibers

5.3 Key Market Opportunities

5.3.1 Increasing usage of carbon fiber in the sporting goods industry

5.4 Key Future Trends

5.4.1 Increasing use of carbon in 3D printing

5.5 Impact Analysis

6. Carbon Fiber– North America Market Analysis

6.1 North America Carbon Fiber Market Overview

6.2 North America Carbon Fiber Market Forecast And Analysis

7. North America Carbon Fiber Market Analysis – by Raw Material

7.1 Overview

7.2 North America Carbon Fiber Market Breakdown, By Raw Material, 2019 & 2027

7.3 Polyacrylonitrile (PAN)

7.3.1 Overview

7.3.2 North America PAN Market Revenue Forecasts to 2027 (US$ Mn)

7.4 Pitch

7.4.1 Overview

7.4.2 North America Pitch Market Revenue Forecasts to 2027 (US$ Mn)

8. North America Carbon Fiber Market Analysis – By End-Use Industry

8.1 Overview

8.2 North America Carbon Fiber Market Breakdown, By End-Use Industry, 2019 & 2027

8.3 Automotive

8.3.1 Overview

8.3.2 North America Automotive Market Revenue and Forecasts to 2027 (US$ MN)

8.4 Aerospace and Defense

8.4.1 Overview

8.4.2 North America Aerospace and Defense Revenue And Forecasts to 2027 (US$ MN)

8.5 Construction

8.5.1 Overview

8.5.2 North America Construction Revenue and Forecasts to 2027 (US$ MN)

8.6 Sporting Goods

8.6.1 Overview

8.6.2 North America Sporting Goods Revenue and Forecasts to 2027 (US$ MN)

8.7 Wind Energy

8.7.1 Overview

8.7.2 North America Wind Energy Revenue and Forecasts to 2027 (US$ MN)

8.8 Others

8.8.1 Overview

8.8.2 North America Others Revenue and Forecasts to 2027 (US$ MN)

9. Country Analysis Of Carbon Fiber Market

9.1 North America Carbon Fiber Market Revenue And Forecasts To 2027

9.1.1 North American Carbon Fiber Market Revenue and Forecasts to 2027 (US$ Mn)

9.1.2 North America Carbon Fiber Market Breakdown by Raw Material

9.1.3 North American Carbon Fiber Market Breakdown by End Use Industry

9.1.4 North American Carbon Fiber Market Breakdown, by Key Country

9.1.4.1 US Carbon Fiber Market Revenue and Forecasts to 2027 (US$ MN)

9.1.4.1.1 US Carbon Fiber Market Breakdown by Raw Material

9.1.4.1.2 US Carbon Fiber Market Breakdown by End Use Industry

9.1.4.2 Canada Carbon Fiber Market Revenue and Forecasts to 2027 (US$ MN)

9.1.4.2.1 Canada Carbon Fiber Market Breakdown by Raw Material

9.1.4.2.2 Canada Carbon Fiber Market Breakdown by End Use Industry

9.1.4.3 Mexico Carbon Fiber Market Revenue and Forecasts to 2027 (US$ MN)

9.1.4.3.1 Mexico Carbon Fiber Market Breakdown by Raw Material

9.1.4.3.2 Mexico Carbon Fiber Market Breakdown by End Use Industry

10. Overview- Impact of COVID-19

10.1 North America: Impact Assessment of COVID-19 Pandemic

11. Industry Landscape

11.1 Merger & Acquisition

11.2 Product news

11.3 Investment Scenario

12. Company Profiles

12.1 DowAksa

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Formosa Plastics Corporation

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Hexcel Corporation

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 Hyosung Corporation

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Kureha Corporation

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.6 Mitsubishi Chemical Corporation

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 SGL Carbon

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Solvay

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Financial Overview

12.8.4 SWOT Analysis

12.8.5 Key Developments

12.9 Teijin Limited

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Toray Industries, Inc.

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Glossary

LIST OF TABLES

Table 1. North America Carbon fiber Market Revenue And Forecasts To 2027 (US$ Mn)

Table 2. North America Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)

Table 3. North America Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)

Table 4. U.S. Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)

Table 5. US Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)

Table 6. Canada Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)

Table 7. Canada Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)

Table 8. Mexico Carbon Fiber Market Revenue And Forecasts To 2027 – By Raw Material (US$ Mn)

Table 9. Mexico Carbon Fiber Market Revenue And Forecasts To 2027 – By End Use Industry (US$ Mn)

Table 10. Glossary of terms, Carbon Fiber Market


LIST OF FIGURES

Figure 1. North America Carbon Fiber Market Segmentation

Figure 2. North America Carbon Fiber Market Segmentation – By Country

Figure 3. North America Carbon Fiber Market Overview

Figure 4. Polyacrylonitrile Held Larger Share of North America Carbon fiber Market in 2019

Figure 5. North America Carbon Fiber Market, by Country, Value and CAGR

Figure 6. Carbon Fiber Industry Landscape

Figure 7. PEST Analysis for North American Carbon Fiber Market

Figure 8. Impact Analysis of Drivers and Restraints

Figure 9. North America Carbon Fiber Market Forecast And Analysis, (US$ Mn)

Figure 10. North America Carbon Fiber Market Breakdown By Raw Material, Value, 2019 & 2027 (%)

Figure 11. North America PAN Market Revenue Forecasts To 2027 (US$ Mn)

Figure 12. North America Pitch Market Revenue Forecasts To 2027 (US$ Mn)

Figure 13. North America Carbon Fiber Market Breakdown By End-Use Industry, By Value, 2019 & 2027 (%)

Figure 14. North America Automotive Market Revenue and Forecasts to 2027 (US$ MN)

Figure 15. North America Aerospace and Defense Market Revenue And Forecasts To 2027 (US$ Mn)

Figure 16. North America Construction Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 17. North America Sporting Goods Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 18. North America Wind Energy Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 19. North America Others Market Revenue and Forecasts To 2027 (US$ Mn)

Figure 20. North America Carbon Fiber Market by Key Country- Revenue (2019) (US$ Mn)

Figure 21. North America Carbon Fiber Market Revenue And Forecasts To 2027 (US$ Mn)

Figure 22. North American Carbon Fiber Market Breakdown, By Raw Material , 2019 & 2027 (%)

Figure 23. North American Carbon Fiber Market Breakdown by End Use Industry, 2019 & 2027 (%)

Figure 24. North America Carbon Fiber Market Breakdown by Country, 2019 & 2027(%)

Figure 25. US Carbon Fiber Market Revenue And Forecasts To 2027 (US$ MN)

Figure 26. Canada Carbon Fiber Market Revenue And Forecasts To 2027 (US$ MN)

Figure 27. Mexico Carbon Fiber Market Revenue And Forecasts To 2027 (US$ MN)

Figure 28. Impact of COVID-19 Pandemic in North American Country Markets

The List of Companies - North America Carbon Fiber Market

  1. DowAksa
  2. Formosa Plastic Corporation
  3. Hexcel Corporation
  4. Hyosung Corporation
  5. Kureha Corporation
  6. Mitsubishi Chemical Corporation
  7. SGL Carbon
  8. Solvay
  9. Teijin Limited
  10. Toray Industries,Inc

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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