Sports Equipment Industry to Inspire Better Growth for Carbon Fiber Market Global Carbon Fiber Market - Overview Market Research Future (MRFR) projects the Carbon Fiber Market size is expected to register a CAGR of 10.6% to reach USD 7.8 billion by the forecast period (2020 - 2030), which has been considered by Market Research Future (MRFR) as the forecast period for a better analytical understanding of the market. The global market for carbon fiber is banking on new carbon fiber technology that can bring in innovations. Carbon fiber can be termed as a polymer that is known as graphite fiber. It is light in weight and is strong-stronger than steel. Its ability to exhibit high tensile strength, resistance to chemicals, low thermal expansion, and heat-resistance ability can promote the demand for the market. These factors can ensure carbon fiber future in several end user industries. The carbon fiber as raw material is expected to find growth with the automobile and aerospace industries among many. Its proliferation into sporting industries and the production of wind turbines can also ensure better growth. However, the high cost of carbon fiber market can hold back global market growth. The price of carbon fiber also dwindles a lot, which can inspire better growth. Obtain Brochure For Latest Technology Advancements @ https://www.marketresearchfuture.com/sample_request/7607 Global Carbon Fiber Market – Prominent Players Toray Industries, Inc (Japan), Teijin Limited (Japan), SGL Group (Germany), Hexcel Corporation (US), Mitsubishi Chemical Corporation (Japan), HYOSUNG (South Korea), Cytec Industries Inc. (US), DowAksa (US), OJSC «SvetlogorskKhimvolokno» (Belarus), Taekwang Industrial Co., Ltd (South Korea), Nippon Graphite Fiber Co., Ltd. (Japan), Formosa Plastics Corporation (US), Carbon Mods (US), and Kureha Corporation (Japan) are some of the major players in the global carbon fiber market. Top Drivers and Challenges Carbon fiber has become a sought-after industrial material. According to a recent study conducted by Market Research Future (MRFR), the global carbon fiber market is set to demonstrate 10.6% CAGR during 2016 to 2023. Towards the end of the assessment period, the market is expected to surpass a valuation of USD 7 Bn. Carbon fiber is revered for light-weight and high tensile strength properties. It is five time stronger than steel. It is a high-performance material, which holds tremendous market potential. The increasing usage of carbon fiber in industries such as sport equipment, military and defense, automotive and aerospace is reflecting favorably on the market. Over the years, a slew of carbon fiber variants have come up, which short, long and continuous carbon fiber. Increasing application scope of the material in prompting suppliers to increase capacity. The automotive sector remains under pressure to make vehicles environmentally viable and fuel-efficient. Use of light-weight components in one of the key solution to achieve the goal where carbon fiber can play an important role. The material is opted for manufacturing of sports equipment, construction, molding & compounding, wind turbines, pressure vessels and others. The global carbon fiber market is gaining a rapid momentum. Carbon fiber is used for manufacturing various types of automotive components spanning across body to engine. Carbon fiber is used for making both interior and exterior parts. The growth of the automotive sector has partly influenced the demand for carbon fiber. Despite the growing market, carbon fiber remains a pricey material. The high cost of carbon fiber somewhat undermines its market potential. Access Complete Report @ https://www.marketresearchfuture.com/reports/carbon-fiber-market-7607