Asia-Pacific Carbon Fiber Market - Segmentation by Type, Application, End-user Industry, and Geography - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4536041
  • Report
  • Region: Asia Pacific
  • 110 pages
  • Mordor Intelligence
until Dec 31st 2018
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  • 3M
  • ELG Carbon Fibre Ltd.
  • GKN Aerospace
  • Hexcel Corporation
  • SABIC Innovative Plastics
  • MORE
The Asia-Pacific carbon fiber market was valued at USD 774.15 million in 2017 and is expected to expand to at a CAGR of 16.36% during the forecast periodm 2018 -2023. The major factors driving the carbon fiber market in this region are the growing demand in the sports goods, construction, and automotive industries, as well as the emerging wind energy applications and the increasing demand in the aerospace & defense industry. The increasing automotive demand along with the rising need for lightweight vehicles is expected to further drive the demand over the forecast period.

Accelerating Usage in Aerospace and Defense

The aerospace & defense industry in China is growing at a significant pace. The rising population and urbanization, along with growing income in the country, have led to the increase in demand for commercial aircrafts in the country. India is projected to be the third-largest country in terms of the civil aviation industry by 2023. The rapidly growing aviation industry is further expected to expand the application of carbon fiber in the air transport sector. Aircraft manufacturers, such as Boeing and Airbus, are utilizing carbon fibers in the manufacturing of aircrafts and aircraft parts, which in turn, is aiding in reducing the weight of aircrafts by approximately 50%. The defense industry in South Korea is growing at a fast in the recent years due to the antagonistic actions from North Korea, moreover, the increase in the R&D activities further play a key role in driving the market growth in the region.

Construction & Infrastructure is the Fastest Growing Segment

The market in the construction industry is huge in China, as the government is expected to actively invest around USD 11.4 billion in the infrastructure development projects. Owing to the various infrastructure development initiatives by the government of India, the construction industry in the country has seen a surge in the recent years. Additionally, over the past few years, India has become the major hosts of numerous international and national events because of their business potential. Thereby, increasing the demand for hotels, shopping malls, high-rise buildings, arenas, and stadiums (both outdoor and indoor), and boosting the demand for carbon fiber market. The construction sector in South Korea, supported by the infrastructure projects related to 2018 Winter Olympic Games in Pyeongchang, Gangwon province, will further drive the market in Asia-Pacific.

Japan to Lead the Market

Japan is estimated to grow at the highest CAGR of 18.23% during the forecast period, compared to other markets in Asia-Pacific. The Japanese sports goods industry is expected to play a key role in driving the market growth. The industry is poised with some opportunities in the form of Rugby World Cup and Tokyo Olympics in 2020. The growth in this industry will reflect the increase in demand for carbon fiber in the country.

Key Developments in the Market

March 2018: Hexcel launched a GBP 7.4 million project to create carbon fiber fabrics for cutting-edge aircraft parts.

August 2017: Teijin to exhibit carbon and aramid fiber solutions at China Composites Expo 2017 in Shanghai.

Major Players: Toray Industries Inc., Hexcel Corp., Mitsubishi Rayon Co. Ltd, SGL Group, Formosa Plastics, and Teijin Ltd, among others.

Reasons to Purchase this Report

To understand the impact of end-user applications on the market

Analyzing various perspectives of the market with the help of Porter’s five forces analysis

To identify the countries that are expected to witness the fastest growth during the forecast period

Identify the latest developments, market shares, and strategies employed by the major market players

3-month analyst support, along with the Market Estimate sheet (in Excel)

Customization of the Report

The report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
Note: Product cover images may vary from those shown
2 of 5


  • 3M
  • ELG Carbon Fibre Ltd.
  • GKN Aerospace
  • Hexcel Corporation
  • SABIC Innovative Plastics
  • MORE
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report

2. Executive Summary

3. Market Insights
3.1 Indstry Value Chain Analysis
3.2 Industry Attractiveness - Porter's Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Technological Snapshot
3.4 Price Analysis
3.5 Patent Analysis

4. Market Dynamics
4.1 Drivers
4.1.1 Increasing Demand for Fuel-Efficient Vehicles
4.1.2 Accelerating Usage in Aerospace and Defense
4.1.3 Shifting Focus on Production of Electricity/Energy from Renewable Sources
4.1.4 Increasing demand in Sporting Goods/Leisure Industry
4.2 Restraints
4.2.1 High R&D Investment and Cost
4.3 Opportunities
4.3.1 Increasing Application in Wind Energy Sector
4.3.2 Emphasis on Lignin as Raw Material for Carbon Fibers

5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Raw Materials
5.1.1 Polyacrylonitrile (PAN)
5.1.2 Petroleum Pitch
5.2 By Type
5.2.1 Virgin Fiber (VCF)
5.2.2 Recycled Fiber (RCF)
5.3 By Application
5.3.1 Composite Materials Carbon Fiber Reinforced Polymer (CFRP) Reinforced carbon-carbon (RCC)
5.3.2 Textiles Woven Non-Woven
5.3.3 Microelectrodes
5.3.4 Catalysis
5.4 By End-user Industry
5.4.1 Aerospace and Defense
5.4.2 Automotive
5.4.3 Sporting Goods
5.4.4 Wind Energy
5.4.5 Construction and Infrastructure
5.4.6 Other Industries

6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 China
6.2 India
6.3 Japan
6.4 South Korea
6.5 Rest of Asia-Pacific

7. Competitive Landscape
7.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
7.2 Market Share Analysis***
7.3 Strategies Adopted by Leading Players

8. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
8.1 3M
8.2 Airborne International BV
8.3 Australian Aerospace Composites
8.5 Benteler-SGL GmbH & Co. KG
8.6 Composite Holding Company (CHC)
8.7 Cytec Solvay Group
8.8 ELG Carbon Fibre Ltd.
8.9 European Aeronautic Defence and Space Company NV (EADS)
8.10 Fehrer Automotive GmbH
8.11 Formosa Plastics Corporation
8.12 GKN Aerospace
8.13 Goodrich Corporation
8.14 Hexcel Corporation
8.15 Mitsubishi
8.16 Nippon Graphite Fiber Corporation
8.17 SABIC Innovative Plastics
8.18 SGL Carbon
8.19 Teijin Limited
8.20 Toho Tenax
8.21 Toray Industries, Inc.
*List not exhaustive

9. Disclaimer
**Subject to availability on public domain
Note: Product cover images may vary from those shown
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  • 3M
  • Airborne International BV
  • Australian Aerospace Composites
  • Benteler-SGL GmbH & Co. KG
  • Composite Holding Company (CHC)
  • Cytec Solvay Group
  • ELG Carbon Fibre Ltd.
  • European Aeronautic Defence and Space Company NV (EADS)
  • Fehrer Automotive GmbH
  • Formosa Plastics Corporation
  • GKN Aerospace
  • Goodrich Corporation
  • Hexcel Corporation
  • Mitsubishi
  • Nippon Graphite Fiber Corporation
  • SABIC Innovative Plastics
  • SGL Carbon
  • Teijin Ltd.
  • Toho Tenax
  • Toray Industries Inc.
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown