Asia-Pacific carbon fiber market is estimated to grow significantly at a CAGR of around 9.4% during the forecast period owing to the significant production of the electric vehicle, growing aviation sector, and rising government expenditure in aerospace & defense. Aircraft manufacturers are expanding their production capacity in the region, which is further reinforcing the demand for carbon fiber. Boeing and Airbus SE are some renowned aircraft manufacturers with production facilities across Asia-Pacific countries, including China and India. 

The Commercial Aircraft Corp. of China, Ltd. and Hindustan Aeronautics Ltd. is also significantly focusing on accelerating their production capacity to meet the emerging demand for commercial and military aircraft. This will likely support the demand for carbon fiber owing to its potential benefits such as weight reduction and resultant fuel efficiency. The rising demand for clean energy sources is further driving the market growth in the region. 

Asia-Pacific carbon fiber market is segmented on the basis of raw material, fiber type, and industry vertical. On the basis of raw material, the market is sub-segmented into PAN and petroleum pitch & rayon. Based on the fiber type, the market is classified into virgin carbon fiber and recycled carbon fiber. Based on the industry verticals, the market is classified into aerospace & defense, automotive, construction infrastructure, and others such as sporting goods. Among these, the automotive industry segment accounted for a significant share in the market.

The companies which are contributing to the growth of the Asia-Pacific carbon fiber market include Hyosung Corp., Jiangsu Hengshen Co. Ltd., Kureha Corp., Toray Industries Inc., Teijin Ltd., ZHONGFU SHENYING CARBON FIBER CO., LTD., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations to stay competitive in the market. 

Research Methodology

The market study of the Asia-Pacific carbon fiber market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for carbon fiber market players, automobile industry, aerospace industry, contract manufacturers, third-party suppliers, raw material suppliers, distributors & traders, industry associates & experts, government organizations, regulatory bodies, and other market participants for the overall market and competitive analysis. The report provides an in-depth analysis on market size, products offered by the companies, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. Asia-Pacific Carbon Fiber Market Research and Analysis by Raw Material
2. Asia-Pacific Carbon Fiber Market Research and Analysis by Fiber Type
3. Asia-Pacific Carbon Fiber Market Research and Analysis by  Industry Verticals

The Report Covers

• Comprehensive research methodology of the Asia-Pacific carbon fiber market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific carbon fiber market.
• Insights about market determinants which are stimulating the Asia-Pacific carbon fiber market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.