NORTH AMERICA CARBON FIBER MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


North America Carbon Fiber Market Analysis:

During the projected timeframe, it is anticipated that the North American carbon fiber market will exhibit a Compound Annual Growth Rate (CAGR) of approximately 12%, which is deemed to be a significantly high rate.

Throughout the period of the COVID-19 pandemic, governmental restrictions imposed in various regions temporarily halted the operations of end-users. This consequential impact on end-user activities subsequently reverberated throughout the global automotive and aerospace sectors, thereby affecting the carbon fiber market. However, following the pandemic, the sector has experienced a recovery, and it is expected that the market will continue to expand in 2022 and beyond.

The primary drivers of the aforementioned market encompass the demand for vehicles that are lighter and more fuel-efficient, increased utilization within the aerospace and defense industries, as well as the heightened adoption of renewable energy sources. Nevertheless, impediments to market growth are anticipated due to substantial investments in research and development within the sector, as well as the availability of substitute materials.

Opportunities for future growth arise from the escalating demand for recycled carbon fiber and the emphasis on employing lignin as the principal raw material for carbon fiber production.

The United States currently holds the largest market share, and this is expected to persist in the forthcoming years.

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