North America Carbon Fiber Market to 2027

New York, Feb. 19, 2020 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “North America Carbon Fiber Market to 2027 – Regional Analysis and Forecasts By Precursor ; Form ; End Use Industry” – https://www.reportlinker.com/p05862163/?utm_source=GNW
Carbon fibers exert excellent corrosion resistance, higher stiffness and strength, and longer lifespans as compared to other materials, such as aluminum and steel. The North America carbon fiber market is accounted to US$ 1,157.8 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecast period 2019 – 2027, to account to US$ 2,872.5 Mn by 2027. The North America carbon fiber market is segmented on the basis of precursors as – PAN-based and pitch. The PAN-based North America carbon fiber market is estimated to hold a dominant share in the market. PAN is polymerized from acrylonitrile (AN) by the commonly used, inhibitory azo compounds and peroxides through the polymerization process. The rising demand for carbon fiber in the industrial applications has led to an upsurge to the manufacturing and production of PAN as it is one of the most widely used precursors. The PAN polymerization is run either as a continuous process or as a batch process. A continuous process is used to produce PAN with relatively wide molecular weight distribution whereas a continuous process is used for a large-scale production. The presence of linear nitrile groups results in a robust intermolecular interaction in linear PAN that leads to having a high melting point, which results in the degradation before the temperature reaches the melting point.

The North America carbon fiber market is segmented based on form as composites and non-composites.The composites segment accounts for the largest share in the North America carbon fiber market, while the non-composites segment also contributes a significant share in the market.

Carbon fibers, when bound with plastic polymer resin, produce a composite material that is durable, extremely strong, and lightweight that can be used in various forms, including tubes, tows, and fabrics.The steady decrease in the prices, coupled with the availability of multiple carbon fibers and polymer matrix materials, have helped the carbon fiber polymer composite materials to achieve an essential position in the North America market.

Epoxy is the most commonly used carbon fiber composite material. Thermoplastic resin, polyimide, polysulfone, and polyester are also used on a large scale.

The rising demands from automotive and aerospace applications are one of the key drivers for the growth of the North America carbon fiber market.The cost in the production of automotive using carbon fiber is comparatively cheaper as compared to that of the steel.

An essential feature of the carbon fiber is that it can be shaped and molded into different shapes, which is not the case in steel.The automotive parts that are made out of carbon fiber are not painted but rather are clear-coated.

The carbon fiber weave has a symbol of high-performance and high technology.

North America carbon fiber market is segmented on the basis of the country as – US, Canada, and Mexico.US has a major share in the North America carbon fiber market, which is followed by Mexico.

Owing to increased deployments, the military forces require heavy-duty vehicles to transport goods and ammunitions and armaments to the various establishment.The rise in demand for automotive for varied purposes would raise the production capacity of automotive and related parts.

Thus, the demand for carbon fiber in the US is going to rise during the forecast period.

Some of the players present in North America carbon fiber market are DowAksa, Formosa Plastics Corporation, Hexcel Corporation, Hyosung Corporation, Kureha Corporation, Mitsubishi Chemical Corporation, SGL Carbon, Solvay, Teijin Limited, and Toray Industries, Inc. are amongst the others.

The overall North America carbon fiber market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the North America carbon fiber market.

Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America carbon fiber market.
Read the full report: https://www.reportlinker.com/p05862163/?utm_source=GNW

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