Carbon fiber market set to boom

Carbon fiber market set to boom

Compounded annual growth rate of 11.3% expected from 2014 to 2019.

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April 11, 2015

Fort Worth, Texas –  Research firm MicroMarket Monitor reports the global carbon fiber prepreg market was valued at $2.63 billion in 2014 and is estimated to reach $4.64 billion by 2019, at a CAGR of 11.3%.
 
The aerospace & defense is the leading application segment of the global carbon fiber prepreg market. The segment accounted for $1.84 billion in 2014 and is estimated to reach $3.24 billion. In terms of volume, this segment is estimated to grow at a CAGR of 11.5% during the given forecast period.
 
North America holds the largest share of the global carbon fiber prepreg market. The growing aerospace industry and the user-friendly and environment-friendly characteristics of the composite are the main factors driving the growth of this market.
 
The major participants that operate in the global carbon fiber prepreg market include Hexcel Corp. (U.S.), Cytec Industries (U.S.), Gurit Holdings AG (Switzerland), SGL Group (Germany), Toray Industries (Japan), Axiom Materials, Inc. (U.S.), and Teijin Limited (Japan). The key players of the market are mainly focusing on acquisitions and expansions for their growth in the global market. 
 
Source: MicroMarket Monitor