Global Carbon Fiber Market to Cross $6B by 2025
September 17, 2018—The global Carbon Fiber Market is expected to cross 6.36 billion by 2025. The carbon fiber industry witnessed growth trends in the carbon fiber, composite markets possessed identical features, and the significance was higher in terms of volume in 2016.
Rise in end-user applications coupled with diversified uses of carbon fibers in various domains added to the market growth then. The growth trends exhibited positive traction owing to rising CAGR on yearly basis.
At present, the carbon fiber market is driven by rise in demand for carbon fiber from automotive and aerospace industries and lightweight vehicles. In addition, the augmented demand for fuel-efficient vehicles coupled with stringent regulations by government pertaining to vehicle pollution is expected to drive the market growth. The carbon fiber industry is expected to gain a positive traction in the forthcoming period due to mass production of electronic items, automotive applications in cars and rise in industrial use.