Carbon Fiber Strands: Introduction
- Carbon fiber strands are fibers of about five to 10 micrometers in diameter and composed primarily of carbon atoms
- Carbon fiber strands possess several benefits such as high stiffness, high tensile strength, low weight, high chemical resistance, high temperature tolerance, and low thermal expansion
- Carbon fiber strands are employed in aerospace, civil engineering, military, and motorsports applications. However, they are relatively expensive vis-à-vis similar fibers such as glass fibers or plastic fibers.
Raw Materials Used in Manufacture of Carbon Fiber Strands
- Raw materials used in the manufacture of carbon fiber strands are called precursors. About 90% of carbon fibers are made from polyacrylonitrile (PAN). The remaining 10% carbon fibers made from rayon or petroleum pitch. These materials are organic polymers, characterized by long strings of molecules bound together by carbon atoms.
- Various gases and liquids are used during the manufacturing process of carbon fiber stands. Some of these materials are designed to react with the fiber to achieve a specific effect. Other materials are designed not to react or prevent certain reactions with the fiber. Akin to precursors, the exact compositions of many of these process materials are proprietary.
Applications of Carbon Fiber Strands
- Based on application, the global carbon fiber strands market can be segmented into aerospace, sporting goods, wind energy, electrical & electronics, automotive, and others. Carbon fiber strands can be used in various applications such as auto racing and aerospace. These are used extensively in the composite industry due to their unmatched strength and light weight.
- Aerospace and space were some of the first industries to adopt carbon fiber strands. The high modulus of carbon fiber strands makes it structurally suitable to replace alloys such as aluminum and titanium. Carbon fiber provides weight saving properties. This is the primary factor that carbon fiber strands are being employed in the aerospace industry.
- Every pound of weight saving can make a difference in fuel consumption. Therefore, Boeing's new 787 Dreamliner has been the best-selling passenger aircraft in the history. The majority of the aircraft's structure is made with carbon fiber reinforced composites.
North America to Hold Major Share of Global Carbon Fiber Strands Market
- In terms of region, the global carbon fiber strands market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- In terms of value, Asia Pacific dominated the global carbon fiber strands market in 2019. This can be ascribed to growth in the construction sector in developing countries such China and India in the region.
- North America and Europe cumulatively accounted for large share of the global carbon fiber strands market in 2019. The market in the region is driven by the presence of large aircraft manufacturers, electric car manufacturers, and offshore wind farm installations.
- Europe has some of the prominent automotive manufacturers such as BMW, Fiat, and Bentley. These automotive manufacturers use carbon fiber composites in various structural automotive parts such as bonnets, bumpers, and frontends. The region has large numbers of offshore wind energy installations, especially in the U.K. and Germany.
Key Players Operating in Global Market
The global carbon fiber strands market is fragmented, with market players focusing on incorporating advanced technologies to gain higher share. These players offer a complete portfolio of products and focus on different business strategies to strengthen their position.
Key players operating in the global carbon fiber strands market include:
- Toray Industries Inc.
- SGL Group
- Hexcel Corporation
- Mitsubishi Rayon Co. Ltd.
- Teijin Limited
- Formosa Plastics Corporation
Global Carbon Fiber Strands Market: Research Scope
Global Carbon Fiber Strands Market, by Raw Material
- Polyacrylonitrile (PAN)
Global Carbon Fiber Strands Market, by Application
- Sporting Goods
- Wind Energy
- Electrical & Electronics
Global Carbon Fiber Strands Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.