Pitch Based Carbon Fiber Market Size

Pitch Based Carbon Fiber Market Growth Projections and Opportunities

The global market for a special kind of strong material called pitch-based carbon fiber is expected to grow a lot from 2022 to 2030. In 2021, the market was worth $88,211.67 thousand, and it's predicted to increase to $153,404.05 thousand by 2030. This growth is about 6.62% every year. The amount of this carbon fiber used was 2,533.17 tons in 2021 and is expected to reach 4,086.71 tons by 2030, growing at a rate of 5.75%. The aerospace and defense industry is the main reason for this growth because these carbon fibers are light, strong, and have good thermal and electrical properties.

These special carbon fibers are used in making airplanes and other aerospace equipment because they are light and strong. They are also used in the wind energy sector and for making lightweight cars. The construction industry is also starting to use them more. However, one problem is that there are other materials that are similar but cheaper, which might slow down the growth of this carbon fiber market. Also, making these fibers is a bit expensive and complicated.

The market is divided into two types: composites and non-composites. Most of it, about 94.84%, is composites. In 2021, composites were worth $83,656.45 thousand and are expected to reach $147,128.49 thousand by 2030, growing at a rate of 6.75%. In terms of amount, composites were 2,399.16 tons in 2021 and are expected to reach 3,916.52 tons by 2030, growing at a rate of 5.89%.

The carbon fiber market is used in different areas like aerospace, automotive, construction, wind energy, sports, and others. In 2021, aerospace and defense used the most, making up 36.11% of the market. This is because these carbon fibers are very strong and light, making airplanes more efficient. In 2021, the aerospace and defense market was worth $31,851.76 thousand and is expected to reach $59,146.33 thousand by 2030, growing at a rate of 7.40%. In terms of amount, it was 899.35 tons in 2021 and is expected to reach 1,558.37 tons by 2030, growing at a rate of 6.60%.

In 2021, Asia-Pacific used the most carbon fiber, making up 35.84% of the market. This is because these countries are becoming more industrialized. The market in Asia-Pacific was worth $31,613.76 thousand in 2021 and is expected to reach $59,042.08 thousand by 2030, growing at a rate of 7.46%. In terms of amount, it was 1,016.63 tons in 2021 and is expected to reach 1,752.57 tons by 2030, growing at a rate of 6.53%. North America used the second most in 2021, making up 32.72% of the market. This is because the aerospace industry is strong in the United States. In North America, the government is also supporting renewable energy, and the car industry is growing, which might increase the use of carbon fibers.