Japan carbon fiber market is estimated to grow significantly at a CAGR of around 8.5% during the forecast period. The aerospace industry in Japan is expanding to meet defense requirements. In space operations, the development of transportation and satellite systems has been promoted and increased. Thus, the Japanese aerospace industry is being continually advanced to stand alongside those in the US and EU, which in turn, is projected to boost the demand for carbon fibers as these are highly utilized in the aerospace & defense.
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Japan 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 aerospace & defense industry segment accounted for a significant share in the market attributed to the increased production by the major aerospace and defense manufacturers.
The companies which are contributing to the growth of the Japan 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. For instance, in June 2015, Nippon Carbon Co. Ltd. in a joint venture agreement with NGS Advanced Fibres, GE and Safran had established the second manufacturing plant for around $55 million for its silicon carbide continuous fiber “Nicalon” production for ceramic matrix composites at its second manufacturing plant.
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Japan Carbon Fiber Market Segmentation
By Raw Material
- Polyacrylonitrile (PAN)
- Petroleum Pitch & Rayon
By Fiber Type
- Virgin Carbon Fiber
- Recycled Carbon Fiber
By Industry Verticals
- Aerospace & Defense
- Automotive
- Construction Infrastructure
- Others (Sporting Goods)
Company Profiles
- Formosa Plastics Corp.
- Hyosung Corp.
- Jiangsu Hengshen Co. Ltd.
- Kureha Corp.
- Nippon Carbon Co. Ltd.
- Osaka Gas Chemicals Co., Ltd.
- Toray Industries Inc.
- Teijin Ltd.
- Taekwang Industrial Co. Ltd.
- Weihai Guangwei Composites Co., Ltd.
- ZHONGFU SHENYING CARBON FIBER CO., LTD.
