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Carbon Fiber Market

Carbon Fiber Market Size By Raw Material (PAN-based Carbon Fiber, Pitch-based & Rayon-based Carbon Fiber), Type (Continuous, Long, and Short), and End-Use Industry (Sports/Leisure, Aerospace & Defense, Wind Turbines, Automotive, Molding & Compounds, Pressure Vessels, Misc. Consumer, Sailing/Yacht Building, Marine, Civil Engineering, Pultrusion Misc., and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12863
  • Published Date: Aug, 2022
  • Pages: 236
  • Category: Chemicals & Materials
  • Format: PDF
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The global carbon fiber market is expected to reach USD 9.05 billion by 2030, at a CAGR of 9.2% during the forecast period 2022 to 2030. The market is anticipated to be driven by the increasing demand from aerospace & defense industries and wind energy. Furthermore, the rising use of carbon fiber for 3D printing to increase the rigidity and strength of the fabric adds impetus to the market's growth during the forecast period.

Market Overview:

Carbon fibers are a long chain of fibers composed of carbon atoms that form a long chain of about 5–10 micrometers in diameter. These carbon atoms form microscopic crystals that exhibit a high strength-to-weight ratio. Carbon fibers are widely used in aerospace & defense, sports, wind turbines, automotive, and others because of their mechanical and physical properties such as tensile strength, lightweight, impact resistance, etc. Carbon fibers have other advantages, including high tensile strength, high stiffness, low weight, high-temperature tolerance, high chemical resistance, and low thermal expansion. Because of this, carbon fiber is widely used in aerospace, military, civil engineering, motorsports, and other competition sports. However, they are relatively expensive compared to similar fibers, such as glass or plastic fibers. The growing developments of advanced carbon fiber composites such as Carbon Fiber Reinforced Thermoplastic (CFRTP) propels the market’s growth    

Furthermore, advanced carbon fiber composites are used in high-volume vehicles. As advanced carbon fiber composites are highly corrosion resistant, highly durable, and offer low thermal expansion, they are widely used in producing aerospace and vehicle parts. As aircraft production is increasing rapidly, the demand for advanced carbon fiber is also growing.

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Market Dynamics:

Drivers:
  • Increasing use in the automotive industry

Carbon fibers are increasingly used in the automotive industry to produce body parts such as bumper beams, hoods, fenders, and deck lids. Carbon fibers, when used in making the parts of the vehicle, increase their durability, thus providing them with longer shelf life. Primarily, carbon fibers are increasingly used in motorsports and luxury vehicles to make their body parts, driving the market's growth.

Restraints:
  • High cost of products

Carbon composites made from carbon fibers are widely used in automotive, aerospace, construction, oil & gas, and wind energy industries owing to their lightweight properties and high performance. However, the cost of carbon composites is very high compared to metals which drives the market's growth. The high product cost prohibits the widespread use of carbon fiber in various industries restraining the market's growth.

Opportunities:
  • Stringent eco-friendly regulations

Implementing stringent eco-friendly regulations in developing and developed countries are expected to provide an opportunity for the market's growth for the forecast period. When used in vehicles, carbon composites reduce the weight, increasing the vehicle's fuel efficiency. Fuel-efficient vehicles are in high demand these days owing to the increased price of the fuels. Furthermore, sports and luxury car makers also require lightweight vehicle parts, especially in braking applications. This is expected to provide an opportunity for the market's growth during the forecast period.

Challenges:
  • Outbreak of Covid-19

The outbreak of the Covid-19 pandemic disrupted the development, growth, and working of most sectors worldwide. There were disruptions in the supply chain, which also affected the growth of the industries. The strict lockdowns challenged the market's growth as most industries were temporarily closed due to the imposed lockdown restrictions.

Segmentation Analysis:

The global carbon fiber market has been segmented based on raw material, type, end-use industry, and regions.

  • The raw material segment is divided into PAN-based carbon fiber and pitch-based & rayon-based carbon fiber. The PAN-based carbon fiber segment dominated the market, with a market share of around 63% in 2021. The PAN-based carbon fiber segment has been growing owing to its cost-effectiveness and better-quality fibers.
  • The type segment is divided into continuous, long, and short. Over the forecast period, the continuous segment is expected to grow at the fastest CAGR of 16.6%. The continuous segment has been increasing owing to its rigidity and strength and is widely used in the aerospace and defense, automotive, and wind and energy industries.
  • The end-use industry segment is divided into sports/leisure, aerospace & defense, wind turbines, automotive, molding & compounds, pressure vessels, misc. consumer, sailing/yacht building, marine, civil engineering, pultrusion misc., and others​. In 2021, the aerospace & defense segment dominated the market, accounting for around 16% of global revenue. Due to properties such as low weight and corrosion resistance, the rising demand for carbon composites for manufacturing parts of aircraft and satellites drives the segment's growth.
Regional Segmentation Analysis:

The regions analyzed for the carbon fiber market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Europe emerged as the largest market for the global carbon fiber market, with a 33% share of the market revenue in 2021.

  • Europe currently dominates the carbon fiber market with a 33% market revenue share in 2021. The market for carbon fiber in the region has been growing owing to increasing innovations in the aerospace and defense industry. The recent successful launch of the Airbus A320 family and Eurofighter also provides an impetus for the market's growth in the region. The increasing demand for electric vehicles in the region also boosts the market's growth.

Europe Region Carbon Fiber Market Share in 2021 - 33%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global carbon fiber market.

List of Key Market Players:

  • Toray Industries
  • SGL Carbon
  • Teijin Limited
  • Hexcel Corporation
  • Mitsubishi Chemical Holdings
  • Solvay
  • Carbon Mods
  • Cytec Industries Inc.
  • Nippon Graphite Fiber Co., Ltd
  • Taekwang Industrial Co., Ltd

Key Target Audience

  • Market Players
  • Investors
  • End-Users
  • Government Authorities
  • Consulting And Research Firm
  • Venture capitalists
  • Third-party knowledge providers
  • Value-Added Resellers (VARs)

Report Description:

  • Global Carbon Fiber Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global carbon fiber market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions, and countries catering to the global carbon fiber market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of carbon fiber based on the raw material, type, end-use industry, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to the global carbon fiber market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers a detailed study for the company profiles of key organizations operating in the global carbon fiber market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & amp; innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of porter’s five forces analysis coupled with SWOT analysis to provide business-related data and information. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influence the company's growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market-related driving factors, growth limitations (restraints), potential industry opportunities, significant trends, and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market-related i.e., global carbon fiber market) are covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the carbon fiber market was valued at USD 4.1 billion in 2021 to USD 9.05 billion by 2030.

The global carbon fiber market is growing at a CAGR of 9.2% during the forecast period 2022-2030.

The global carbon fiber market has been segmented based on raw material, type, end-use industry, and regions. The PAN-based carbon fiber segment led the market in 2021. The continuous segment led the market in 2021.

Europe emerged as the largest market for carbon fiber.

Increasing use in the automotive industry will influence the market's growth.

The high cost of products could hamper market growth.

Stringent eco-friendly regulations will provide considerable opportunities to the market.

Key players are Toray Industries, SGL Carbon, Teijin Limited, Hexcel Corporation, Mitsubishi Chemical Holdings, Solvay, Carbon Mods, Cytec Industries Inc., Nippon Graphite Fiber Co., Ltd, and Taekwang Industrial Co., Ltd

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
  • Customers can be added on the basis of regions and countries
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Raw Material
          4.3.2. Market Attractiveness Analysis By Type
          4.3.3. Market Attractiveness Analysis By End-use Industry
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. Increasing use in automotive industry
    5.3. Restraints
          5.3.1. High Cost of products
    5.4. Opportunities
          5.4.1. Stringent eco-friendly regulations
    5.5. Challenges
          5.5.1. Outbreak of Covid-19

6. Global Carbon Fiber Market Analysis and Forecast, By Raw Material
    6.1. Segment Overview
    6.2. PAN-based carbon fiber
    6.3. Pitch-based & Rayon-based carbon fiber

7. Global Carbon Fiber Market Analysis and Forecast, By Type
    7.1. Segment Overview
    7.2. Continuous
    7.3. Long
    7.4. Short

8. Global Carbon Fiber Market Analysis and Forecast, By End-use Industry
    8.1. Segment Overview
    8.2. Sports/Leisure
    8.3. Aerospace & Defense
    8.4. Wind Turbines
    8.5. Automotive
    8.6. Molding & Compounds
    8.7. Pressure Vessels
    8.8. Misc. Consumer
    8.9. Sailing/Yacht Building
    8.10. Marine
    8.11. Civil Engineering
    8.12. Pultrusion Misc.
    8.13. Others

9. Global Carbon Fiber Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Carbon Fiber Market-Competitive Landscape
    10.1. Overview
          10.1.1. Market Share of Key Players in the Carbon Fiber Market
          10.1.2. Global Company Market Share
          10.1.3. North America Company Market Share
          10.1.4. Europe Company Market Share
          10.1.5. APAC Company Market Share
    10.2. Competitive Situations and Trends
          10.2.1. Product Launches and Developments
          10.2.2. Partnerships, Collaborations, and Agreements
          10.2.3. Mergers & Acquisitions
          10.2.4. Expansions

11. Company Profiles
    11.1. Toray Industries
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Component Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. SGL Carbon
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Component Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Teijin Limited
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Component Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. Hexcel Corporation
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Component Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Mitsubishi Chemical Holdings
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Component Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Solvay
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Component Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. Carbon Mods
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Component Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Cytec Industries Inc.
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Component Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Nippon Graphite Fiber Co., Ltd
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Component Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Taekwang Industrial Co., Ltd
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Component Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
 

List of Table

1. Global Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

2. Global PAN-based carbon fiber Carbon Fiber Market, By Region, 2019-2030 (USD Billion) 

3. Global Pitch-based & Rayon-based carbon fiber Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

4. Global Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

5. Global Continuous Carbon Fiber Market, By Region, 2019-2030 (USD Billion) 

6. Global Long Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

7. Global Short Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

8. Global Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

9. Global Sports/Leisure Carbon Fiber Market, By Region, 2019-2030 (USD Billion) 

10. Global Aerospace & Defense Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

11. Global Wind Turbines Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

12. Global Automotive Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

13. Global Molding & Compounds Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

14. Global Pressure Vessels Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

15. Global Misc. Consumer Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

16. Global Sailing/Yacht Building Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

17. Global Marine Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

18. Global Civil Engineering Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

19. Global Pultrusion Misc. Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

20. Global Others Carbon Fiber Market, By Region, 2019-2030 (USD Billion)

21. North America Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

22. North America Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

23. North America Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

24. U.S. Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

25. U.S. Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

26. U.S. Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

27. Canada Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

28. Canada Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

29. Canada Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

30. Mexico Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

31. Mexico Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

32. Mexico Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

33. Europe Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

34. Europe Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

35. Europe Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

36. Germany Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

37. Germany Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

38. Germany Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

39. France Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

40. France Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

41. France Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

42. U.K. Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

43. U.K. Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

44. U.K. Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

45. Italy Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

46. Italy Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

47. Italy Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

48. Spain Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

49. Spain Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

50. Spain Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

51. Asia Pacific Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

52. Asia Pacific Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

53. Asia Pacific Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

54. Japan Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

55. Japan Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

56. Japan Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

57. China Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

58. China Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

59. China Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

60. India Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

61. India  Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

62. India Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

63. South America Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

64. South America Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

65. South America Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

66. Brazil Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

67. Brazil Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

68. Brazil Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

69. The Middle East and Africa Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

70. The Middle East and Africa Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

71. The Middle East and Africa Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

72. UAE Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

73. UAE Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

74. UAE Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

75. South Africa Carbon Fiber Market, By Raw Material, 2019-2030 (USD Billion) 

76. South Africa Carbon Fiber Market, By Type, 2019-2030 (USD Billion) 

77. South Africa Carbon Fiber Market, By End-use Industry, 2019-2030 (USD Billion) 

List of Figures 

1. Global Carbon Fiber Market Segmentation

2. Carbon Fiber Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Carbon Fiber Market Attractiveness Analysis By Raw Material

9. Global Carbon Fiber Market Attractiveness Analysis By Type

10. Global Carbon Fiber Market Attractiveness Analysis By End-use Industry

11. Global Carbon Fiber Market Attractiveness Analysis By Region

12. Global Carbon Fiber Market: Dynamics

13. Global Carbon Fiber Market Share by Raw Material (2022 & 2030)

14. Global Carbon Fiber Market Share by Type (2022 & 2030)

15. Global Carbon Fiber Market Share by End-use Industry (2022 & 2030)

16. Global Carbon Fiber Market Share by Regions (2022 & 2030)

17. Global Carbon Fiber Market Share by Company (2021)

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global carbon fiber market based on the below-mentioned segments:

Global Carbon Fiber Market by Raw Material:

  • PAN-based carbon fiber
  • Pitch-based & Rayon-based carbon fiber

Global Carbon Fiber Market by Type:

  • Continuous
  • Long
  • Short

Global Carbon Fiber Market by End-use Industry:

  • Sports/Leisure
  • Aerospace & Defense
  • Wind Turbines
  • Automotive
  • Molding & Compounds
  • Pressure Vessels
  • Misc. Consumer
  • Sailing/Yacht Building
  • Marine
  • Civil Engineering
  • Pultrusion Misc.
  • Others

Global Carbon Fiber Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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