US carbon fiber market is estimated to grow significantly at a CAGR of around 8.6% during the forecast period owing to its adoption in various industries including aerospace & defense, automobile, power generation, and construction industry, among others. The aerospace industry in the US is one of the largest across the globe as per the International Trade Administration (ITA). In 2018, the industry contributed $151 billion in export sales to the US economy. At the end of 2017, the inward stock of FDI into the US aerospace manufacturing industry totaled more than $21 billion. The primary driving factors for this market include the increasing demand for lightweight materials in the aviation industry and the capability of carbon fiber components for performing better at high temperatures.
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The US 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 major share in the market. The market value is attributed to the increased production by the major aerospace & defense manufacturers.
The companies which are contributing to the growth of the US carbon fiber market include Hexcel Corp., Mitsubishi Chemical Carbon Fiber and Composites, Inc., Nippon Carbon Co. Ltd., RTP Co., Toray Industries Inc., 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.
US 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)
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Company Profiles
- Formosa Plastics Corp.
- Hexcel Corp.
- Kureha Corp.
- Mitsubishi Chemical Carbon Fiber and Composites, Inc.
- Nippon Carbon Co. Ltd.
- RTP Co.
- Solvay SA
- SGL Carbon SE
- Toray Industries Inc.
- Teijin Ltd.
