PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485860
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1485860
Large Tow Carbon Fiber Market size was valued at USD 710.91 Million in 2023, expanding at a CAGR of 12.91% from 2024 to 2032.
Large tow carbon fiber refers to a type of carbon fiber characterized by having a high number of filaments per tow, typically 24,000 or more. They are used in manufacturing automotive components to reduce weight and improve fuel efficiency while maintaining strength and durability. It maintains the desirable properties of carbon fiber such as high tensile strength and low weight. However, they are less flexible than smaller tow fibers, potentially limiting their use in applications requiring high flexibility. Large tow carbon fibers are an essential material in industries where high performance and cost-efficiency are critical. They enable the production of strong, lightweight, and durable components, making them invaluable in modern manufacturing and engineering.
Large Tow Carbon Fiber Market- Market Dynamics
Increasing government & regulatory support driving the market growth
Supportive government policies and regulations aimed at reducing carbon emissions and promoting the use of lightweight and durable materials can boost the demand for large tow carbon fibers. For instance, the National Renewable Energy Laboratory put regulations into effect as Environmental and safety requirements have an impact on production processes and costs in the carbon fiber manufacturing industry. For instance, all industrial applications and producers of carbon fiber must adhere to air pollution regulations set by each economy. Since these emission regulations are often the same everywhere, the effect of these policies on production costs may be lessened. Moreover, new and innovative applications in sectors such as construction, marine, and medical devices can open up additional markets for large tow carbon fibers, driven by their unique properties.
Large Tow Carbon Fiber Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 12.91% over the forecast period (2024-2032)
Based on product type segmentation, 48K was predicted to show maximum market share in the year 2023
Based on application segmentation, composites were the leading type in 2023
Based on end-use industry segmentation, aerospace was the leading type in 2023
Based on technology segmentation, PAN-based was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Large Tow Carbon Fiber Market is segmented based on Product Type, Application, Price Range, Technology, End-Use Industry, and Region.
The market is divided into three categories based on technology: PAN-based, Pitch-based, and Others. The big tow carbon fiber market is anticipated to be dominated by the PAN-based category worldwide. This is due to the material's high modulus, affordability, tensile strength, and superior fiber quality; sporting goods, automotive, aerospace, and defense industries all make extensive use of it. Because of qualities like low negative coefficient, high thermal conductivity, low electrical resistivity, and high modulus, it is appropriate for the sports and aviation industries.
The market is divided into seven categories based on end-use industry: Aerospace, Energy, Automotive, Sports, Construction & Infrastructure, Electrical & Electronics, and Others. The global big tow carbon fiber market is expected to see strong growth in the aerospace category. It is anticipated that rising aircraft production by Boeing and Airbus will support market growth. Moreover, fiber composite materials are used in space shuttles, airplanes, and helicopters as a result of aerospace engineers' efforts to improve flying's sustainability and safety.
Large Tow Carbon Fiber Market- Geographical Insights
The robust aerospace and automotive sectors in the United States account for a significant portion of North America's market share in the large tow carbon fiber segment. The market position of this region is further strengthened by the existence of significant manufacturers and continuous investments in research and development. The main contributors are the United States, Canada, and Mexico, with the United States dominating in terms of both demand and production capacity. Furthermore, due to the robust demand in the aerospace and automotive industries, Europe is another important region in the large-scale carbon fiber market. Because of their excellent manufacturing capabilities and significant emphasis on lightweight and fuel-efficient materials, nations like Germany, France, and the UK are at the forefront. Tight environmental laws that encourage the use of sustainable materials also help the European market.
The major companies include A&P Technology Inc., Fibre Glass Developments Corp., Anshan Sinocarb Carbon Fibers Co. Ltd, DowAksa USA LLC, Formosa M Co., Ltd., Formosa Plastics Corporation, Hexcel Corporation, Jiangsu Hengshen Co. Ltd, HYOSUNG ADVANCED MATERIALS, Holding company Composite, ACP Composites, Inc. Large companies in this industry concentrate on growing their R&D expenditures, manufacturing sites, and infrastructure, as well as taking advantage of integration opportunities throughout the value chain. With the help of these tactics, major tow carbon fiber manufacturers may meet rising demand, maintain competitive advantage, create cutting-edge goods and technology, cut expenses associated with production, and grow their clientele. For instance, SGL Carbon and Solvay collaborated to develop highly competitive advanced carbon fiber composites for aerospace primary structures.
In November 2021, Toray Industries Inc., and its U.S. subsidiary Zoltek Companies Inc. proclaimed that in 2023 Zoltek's Guadalajara, Mexico capability will increase its production of large-tow carbon.
In May 2024, JAM tied up with MAE to invest Rs 2,700 crore in a carbon fiber plant. The facility will offer a comprehensive range of intermediates viz prepregs, fabrics, and multiaxial and carbon fiber composites catering to diverse industrial needs.
The usage of carbon fiber is a good alternative and may be used for a variety of end uses, its acceptance is restricted to high-end uses in end industries like automotive and aerospace, among others. Since large tow carbon fibers meet the requirements for end-use industries including energy and automotive, they are anticipated to be the best choice for industrial applications. Additionally, several end-use sectors are expected to utilize large tow carbon fiber more widely due to its low cost."In consumer items or high-end automotive parts, for example, when appearance is important, the larger and more apparent weave patterns may be a disadvantage.
GLOBAL LARGE TOW CARBON FIBER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
TORAY INDUSTRIES, INC.
SGL Carbon
Teijin Limited
Mitsubishi Chemical Corporation
Solvay
China Petrochemical Corporation
Hexcel Corporation
Jilin Tangu Carbon Fiber Co., Ltd.
Formosa Plastics Gr
Others