CHICAGO, June 19,
2024 /PRNewswire/ -- The
report "Milled Carbon Fiber Market by
Fiber Type (Virgin, Recycled), Application (Reinforcements,
Coatings & Adhesives), End-Use Industry (Automotive, Electrical
& Electronics, Sporting Goods, Aerospace & Defense) &
Region - Forecast to 2029", Milled Carbon Fiber Market is
estimated at USD 182 million in 2024
and is projected to reach USD 302
million by 2029, at a CAGR of 10.8% from 2024 to 2029.
The growth of the milled carbon fiber market is propelled by a
range of factors, including the performance via superior
strength-to-weight ratios, and decreased maintenance needs due to
resistance to environmental degradation. Regulatory pressures for
lower emissions and advancements in material science and
manufacturing technology further drive the adoption of milled
carbon fiber composites.
Browse in-depth TOC on "Milled Carbon Fiber Market".
162 – Tables
55 – Figures
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The availability of recycled carbon fiber from aerospace and
automotive scrap sources is also expected to drive milled carbon
fiber market growth, as recycled carbon fibers provide a
cost-effective and environmentally friendly alternative to virgin
carbon fibers. As the demand for sustainable materials continues to
rise, the adoption of recycled carbon fibers could lead to a shift
in the competitive landscape, with companies focusing on developing
innovative recycling technologies and expanding their recycled
milled carbon fiber product portfolios. This shift could
potentially impact the overall market size, growth rate, and
competitive dynamics of the milled carbon fiber market in the
coming years
"Recyceld fiber type segment is expected to grow with highest
CAGR in milled carbon fiber market during the forecasted
period."
The milled carbon fiber market is segmented based on the fiber
types into virgin fiber and recycled fiber. Recycled fiber is
significant segment of the milled carbon fiber market, with a
growing demand due to their superior physical properties and higher
stiffness-to-density ratio. Recycled milled carbon fiber has a wide
range of applications due to its unique properties and
cost-effectiveness compared to virgin carbon fiber. It is used
extensively in the automotive and transportation industry for
manufacturing lightweight components, improving fuel efficiency and
reducing emissions. The versatility and cost-effectiveness of
recycled milled carbon fiber make it an attractive option for
various industries, driving its adoption and growth in the
market.
"Reinforcement application segment to be the fastest-growing
segment in the global milled carbon fiber market in terms of
value."
Unique properties of milled carbon fiber, including a high
strength-to-weight ratio, dimensional stability, and electrical
conductivity, make it an attractive option for reinforcing
composite materials. Additionally, milled carbon fiber's
cost-effectiveness compared to virgin carbon fiber is significant,
offering similar properties at a lower cost. The growth of the
recycled carbon fiber market also contributes to the demand for
milled carbon fiber, as recycled carbon fibers are often milled to
enhance their properties and compatibility with various resin
systems. Moreover, advancements in manufacturing technologies and
the development of new applications, such as flexible
piezoresistive sensors and multifunctional composites, are
expanding the scope of milled carbon fiber usage. Overall, these
factors are driving the growth of milled carbon fiber in
reinforcement applications.
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Sporting goods industry segment is expected to have third
largest share during forecasting period, both in terms of value and
volume during the forecast period
The demand for high-performance materials with enhanced
strength, stiffness, and durability is driving the growth of milled
carbon fiber in the sporting goods industry. In fishing rods,
milled carbon fiber reinforced composite materials offer high
specific strength and modulus, making them lighter and more
efficient. In kayaks, milled carbon fiber and Kevlar increase
operational strength, reduce weight, and enhance gliding distance.
The growing popularity of competitive sports, such as tennis, golf,
and cycling, is driving the demand for high-performance equipment
that can provide athletes with a competitive edge.
"Asia Pacific region is
expected to registered highest CAGR both in terms of value and
volume during forecasted period."
The milled carbon fiber market has been studied in North America, Europe, Asia
Pacific, Latin America and
Middle East and Africa.
The Asia Pacific milled carbon
fiber market is experiencing explosive growth, fueled by a potent
mix of factors. Soaring demand from industries like automotive,
electrical and electronics, sporting goods are at the forefront,
with China leading the charge.
China, the world's one of the
largest milled carbon fiber producer and consumer, is driving the
market with its booming domestic automotive, electrical and
electronics production. This insatiable demand for lightweight and
fuel-efficient materials is propelling the region's milled carbon
fiber market to new heights. Countries like Japan and South
Korea, with their established automotive industries, are
also contributing significantly to the regional market growth.
Their focus on technological advancements and sustainability goals
aligns perfectly with the advantages of milled carbon fiber,
ensuring continued demand in the years to come.
The key players profiled in the report include Toray Industries,
Inc. (Japan), Mitsubishi Chemical
Group Corporation (Japan), Teijin
Limited (Japan), Daigas Group
(Japan), Stanford Advanced
Materials (US), Nippon Graphite Fiber Co., Ltd. (Japan), Easy Composites Ltd (UK), Haufler
Composites GmbH & Co. KG (Germany), Procotex (Belgium), SGL Carbon (Germany), CLM-Pro (Croatia), R&G Faserverbundwerkstoffe GmbH
(Germany), Nippon Polymer Sangyo
Co., Ltd. (Japan), Tasuns
Composite Technology Co., Ltd. (China), Nantong Yongtong Environmental
Technology Co., Ltd. (China),
Hebei Yayang Spodumene Co., Ltd. (China), K. SAKAI & Co., LTD. (Japan), Elley New Material Co., Ltd.
(China), TIANJIN YUFENG CARBON CO., LTD. (China), CARBONFIBER.CZ (Czech Republic), Shenzhen Xiangu High-Tech.
Co., Ltd. (China), Hangzhou Impact
New Materials Co., Ltd. (China),
China Beihai Fiberglass Co., Ltd. (China), among others
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