North America Carbon Fiber Market Study Reveals Growth Factors and Competitive Outlook for Future Foreast:2022-2031

Japan, Japan, Mon, 14 Mar 2022 07:26:48 / Comserve Inc. / -- North America Carbon Fiber Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The North America carbon fiber market is estimated to witness a significant growth, at an estimated CAGR of around 12%, over the forecast period. Major factors driving the market studied are the increasing demand for fuel-efficient and lightweight vehicles, accelerating usage in the aerospace and defense sector, and increasing usage in renewable energy.

- The increasing popularity of recycled carbon fiber, and emphasis on the usage of lignin as raw material for carbon fiber are likely to act as opportunities in the future.
- United States accounted for the largest market share and is expected to continue domination during the forecast period.

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Key Market Trends

Composite Materials Segment Dominated the Market

- Composite materials are of two types - carbon fiber reinforcement polymers (CFRP) and reinforced carbon-carbon (RCC).
- Carbon filament, the raw material for the carbon fiber reinforced polymer is produced from the precursor polymers, such as polyacrylonitrile (PAN), rayon, or petroleum pitch. Carbon fiber is almost 10 times stronger than steel and less than half of its weight. It also exhibits high rigidity.
- The demand for CFRP is rising owing to the strong demand from the aerospace, defense, automobile, construction, sports, and leisure sectors.
- The CFRP is useful in weight reduction and thus is helpful in various areas. The use of these materials would help in reducing fuel usage and even coping with environmental regulations.
- The CFRP recently developed a great use in improving the marine industry. These plastics have played an impressive role in replacing the use of metals and high-tension steels.
- Reinforced Carbon-Carbon or RCC is a composite material consisting of carbon fiber reinforcement in a matrix of graphite.
- Many of the Carbon-Carbon (C-C) composites currently being produced are in the form of components for missiles and military aircraft. The most important applications include rocket nozzles, exit cones for strategic missiles, and brake discs for military aircraft.
- Potential near-term uses that have been identified are high-speed train and special automobile brakes and clutches, forging dies and molding crucibles, corrosive chemical reactors and heat exchangers, fuel cells, high thermal conductivity electronic substrates, prosthetic devices, and components for internal combustion engines and much more.
- From the above-mentioned points, we can determine the demand for the composite materials in various applications which therefore increases the consumption of carbon fiber.

United States to Dominate the Market

- In the North America region, United States dominated the ceramic coatings market. United States is one of the fastest emerging economies and has become one of the biggest production houses in the world, today. The country's manufacturing sector is one of the major contributors to the country's economy.
- According to the Federal Aviation Administration (FAA), the total commercial aircraft fleet is expected to reach 8,270 in 2037, owing to the growth in air cargo. Also, the US mainliner carrier fleet is expected to grow at a rate of 54 aircrafts per year due to the existing fleet getting older. Strong exports of aerospace components to countries, such as France, China, and Germany, along with robust consumer spending in the United States are driving the manufacturing activities in the aerospace industry.

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- Various automotive manufacturers are planning to invest during the coming years, amid threats from the government to increase levies on auto imports from Mexico. This factor is expected to positively impact the automotive industry in the country in the coming years, thereby increasing the consumption of ceramic coatings in the automotive industry through the forecast period.
- The sports market in the United States too is growing steadily and it is expected to reach almost USD 79 billion by 2021.
- Overall, with the growing demand from various end-user industries is projected to drive the market in the country during the forecast period.

Competitive Landscape

The North America carbon fiber market is highly consolidated. The major companies include Mitsubishi Chemical Carbon Fiber and Composites Inc., SGL Carbon, Solvay, TEIJIN LIMITED, and TORAY INDUSTRIES, INC., among others.

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Demand for Fuel-efficient and Lightweight Vehicles
4.1.2 Accelerating Usage in the Aerospace and Defense Sector
4.1.3 Increasing Usage in Renewable Energy
4.2 Restraints
4.2.1 High R&D Investments
4.2.2 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION

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