According to a new market report published by Credence Research Carbon Fibers Market - Growth, Future Prospects, Competitive Analysis and Forecast, 2016 - 2023, the carbon fiber market is expected to reach over US$ 4.8 Bn by 2023, expanding at a CAGR of more than 9.7% from 2016 to 2023.

Market Insights

Carbon fibers are fibers which consist of 90% of carbon atoms. The microscopic crystals are aligned parallel to the long axis of carbon fiber. The fiber becomes incredibly strong for its size due to the crystal alignment. Thousands of carbon fibers are warped together to form a yarn which is then woven into fabric. Carbon fibers are usually classified by the tensile modulus of fiber. Almost 30 years ago, carbon fiber was not used due to its cost and hence was only used in the aerospace industry. Carbon fibers are now used in various industries such as sporting goods, automotive, wind turbines, marine, construction, 3D printing and many such applications.

Browse the Carbon Fibers Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2016 - 2023 report at http://www.credenceresearch.com/report/carbon-fiber-market

Raw materials which are used in the manufacture of carbon fiber is known as the precursor. Almost 90% of the carbon fibers are manufactured using polyacrylonitrile (PAN). The remaining 10% are made from petroleum pitch or rayon. In the manufacturing process of carbon fiber, many liquids and gases are used. Some of these materials are designed in a special way to get a specific effect.

Growing demand for carbon fibers from the aerospace & defense industry is the major driving factor of global carbon fibers market. Carbon fibers are known for its high strength to weight ratio. Therefore they are used on a large in manufacture of aircraft components such as elevators, floor beams, wings, engine nacelles and vertical stabilizers among others. Increasing demand from the automotive and wind industry is another factor driving the growth of global carbon fibers in the market.

Competitive Insights:

Growing demand for carbon fibers from the aerospace & defense industry has led to the growth of carbon fibers market in North America. North America accounted for major share of global carbon fibers market and is expected to increase in the near future. High demand for lightweight aircrafts from the defense industry is driving demand for carbon fibers in the global market. Europe accounted as the second largest market for carbon fibers in 2015. Growing automotive industries in the region has boosted demand for carbon fibers in Europe. Fuel efficiency is the major factor boosting demand for carbon fibers in manufacturing automobiles in the region. Hence, Europe is expected to boost high demand for carbon fibers during the forecast period. Increasing demand for carbon fibers from the construction and wind industry in Asia Pacific is also expected to fuel growth of carbon fibers market in the region. Other regions such as Latin America and Middle East and Africa are also projected to boost high demand for carbon fibers in the near future.

By Raw Material

• Pitch-Based & Rayon-Based Carbon Fiber
• Pan-Based Carbon Fiber

By Type

• Short Carbon Fiber
• Continuous Carbon Fiber
• Long Carbon Fiber

By Form

• Composite Carbon Fiber
• Non-Composite Carbon Fiber

By Application:

• Construction
• Pressure vessels
• Automotive
• Aerospace & Defense
• Wind Turbines
• Sports equipment
• Molding & Compounding
• Others

By End-Use Industry

• Sports/Leisure
• Wind Turbines
• Molding & Compounds
• Automotive
• Civil Engineering
• Marine
• Pultrusion Misc.
• Misc. Consumer
• Sailing/Yacht Building
• Aerospace &Défense
• Pressure Vessels
• Others (Misc. Energy, Oil & Gas, Medical, and Industrial Rollers)

 Key Trends:

• Lightweight material
• High tensile strength, heat resistant, etc.
• High demand for lightweight materials in the global market
• Opportunities from wide range of end-user industries

Browse the Carbon Fibers Market- Growth, Future Prospects, Competitive Analysis and Forecast, 2016 - 2023 report at http://www.credenceresearch.com/report/carbon-fiber-market

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Carbon fibers or carbon fibres (alternatively CF, graphite fiber or graphite fibre) are fibers about 510 micrometers in diameter and composed mostly of carbon atoms. Carbon fibers have several advantages including high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance and low thermal expansion. These properties have made carbon fiber very popular in aerospace, civil engineering, military, and motorsports, along with other competition sports. However, they are relatively expensive when compared with similar fibers, such as glass fibers or plastic fibers.

To produce a carbon fiber, the carbon atoms are bonded together in crystals that are more or less aligned parallel to the long axis of the fiber as the crystal alignment gives the fiber high strength-to-volume ratio (making it strong for its size). Several thousand carbon fibers are bundled together to form a tow, which may be used by itself or woven into a fabric.

Carbon fibers are usually combined with other materials to form a composite. When impregnated with a plastic resin and baked it forms carbon-fiber-reinforced polymer (often referred to as carbon fiber) which has a very high strength-to-weight ratio, and is extremely rigid although somewhat brittle. Carbon fibers are also composited with other materials, such as graphite, to form reinforced carbon-carbon composites, which have a very high heat tolerance. Source: Wikipedia

How is Carbon Fiber Made?

The raw material used to make carbon fiber is called the precursor. About 90% of the carbon fibers produced are made from polyacrylonitrile (PAN). The remaining 10% are made from rayon or petroleum pitch. All of these materials are organic polymers, characterized by long strings of molecules bound together by carbon atoms. The exact composition of each precursor varies from one company to another and is generally considered a trade secret.

During the manufacturing process, a variety of gases and liquids are used. Some of these materials are designed to react with the fiber to achieve a specific effect. Other materials are designed not to react or to prevent certain reactions with the fiber. As with the precursors, the exact compositions of many of these process materials are proprietary.

The process for making carbon fibers is part chemical and part mechanical. The precursor is drawn into long strands or fibers and then heated to a very high temperature without allowing it to come in contact with oxygen. Without oxygen, the fiber cannot burn. Instead, the high temperature causes the atoms in the fiber to vibrate violently until most of the non-carbon atoms are expelled. This process is called carbonization and leaves a fiber composed of long, tightly interlocked chains of carbon atoms with only a few non-carbon atoms remaining. [Ref: zoltek.com]

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