Carbon Fiber Market Soars with PAN-Based Composites, Driven by Automotive and Aerospace Sectors
The carbon fiber market size is projected to grow from USD 6.5 billion in 2022 to USD 11.9 billion by 2027, at a CAGR of 13.0% during the forecasted period and USD 21.7 billion by 2032, at a CAGR of 12.9% during the forecasted period. The new developments across the carbon fiber value chain such as the expansion of production capacity by various players, new players entering into the market with...
Carbon Fiber Market is Projected Worth $21.7 Billion by 2032 with a 12.9% CAGR
The carbon fiber market size is estimated to be USD 3.7 billion in 2020 and is projected to reach USD 8.9 billion by 2031, at a CAGR of 8.6% during the forecast period. The demand for clean fuels such as CNG and hydrogen is increasing globally, resulting in increase in demand for carbon fibers in CNG and hydrogen tank manufacturing. Also, the growth in the number of on-shore and off-shore...