High Modulus Carbon Fiber market was valued at US$ 476.6 million in 2022 and is anticipated to reach US$ 779.8 million by 2029
High Modulus Carbon Fiber Market Size
The global High Modulus Carbon Fiber market was valued at US$ 476.6 million in 2022 and is anticipated to reach US$ 779.8 million by 2029, witnessing a CAGR of 7.2% during the forecast period 2023-2029.
Carbon fiber is a long, thin strand of material about 0.0002-0.0004 in (0.005-0.010 mm) in diameter and composed mostly of carbon atoms. The carbon atoms are bonded together in microscopic crystals that are more or less aligned parallel to the long axis of the fiber. The crystal alignment makes the fiber incredibly strong for its size. Several thousand carbon fibers are twisted together to form a yarn, which may be used by itself or woven into a fabric. The yarn or fabric is combined with epoxy and wound or molded into shape to form various composite materials.
High modulus carbon fibers can be classified as PAN-based carbon fibers (M, MJ) and pitch based (MP, MK).
High-mode carbon fiber is a dual-use industrial material with unique properties. It has been widely used in augmentation of advanced composite materials such as aerospace, aviation, sports equipment and high-end civilian products.
The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
Asia-Pacific is the largest high modulus carbon fiber dispenser market with about 42% market share. North America is follower, accounting for about 30% market share. The key manufacturers are Toray, Mitsubishi Rayon, Teijin Carbon, Hexcel, Formosa Plastics Corp, Cytec Solvay, Weihai Tuozhan Fiber etc. Top 3 companies occupied about 70% market share.
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