Market Analysis: Carbon Fiber Reinforced Polymer in the United States

Goals

Conduct a market analysis for carbon fiber reinforced polymer in the United States (including determining the best potential end product, potential for market growth, and potential sources of the raw material, as well as how many players are involved in each vertical, methods of their production, their target consumers, their rate of growth, regulations they are facing, competitive pressures, and length of their manufacturing process) to inform the possibility of entering the field.

Early Findings

Potential for Growth in North America

  • An industry analysis from Mordor Intelligence reports that the North American carbon fiber reinforced polymer market is in a period of "significant growth" with a CAGR of 12 percent from 2016-2025.
  • Factors driving growth include increasing demand for more fuel-efficient, lighter weight vehicles, higher demand from the aerospace and defense sector, and increasing demand in the renewable energy sector.
  • The sectors with high demand are the aerospace, defense, automobile, construction, sports, and leisure sectors.
  • 40 percent of demand in 2016 came from the automobile sector.

Raw Materials, Manufacturing Process, and Composite Preferences

Competitors in the Field

  • Leading manufacturers of raw carbon fiber with reinforced polymer composites with U.S. facilities include Hexcel, Grafil (a subsidiary of Mitsubishi Rayon), Solvay, Teijin Carbon America, Toray, and Zoltek (a subsidiary of Toray).
  • Zoltek has made the claim that it manufactures the lowest-cost carbon fiber on the market (Panex and Pyron being the trade names).
  • The market appears to be competitive to companies at all sizes with Tier 1 Companies taking 35 percent of the market share, Tier 2 Companies taking 25 percent, and Tier 3 companies taking 40 percent, though it isn't clear what designates each type of company based on the information made public in a report from Markets and Markets.


Summary of Early Findings in Relation to Goals

The first hour of research involved outlining the project to determine if the requested information is available.

While there is information available about the market, players in the market, and types of composites available, there is less information available about pricing and best sources for raw materials.

Based on our early findings, we recommend the following next steps to better understand the industry and its potentials:

Proposed next steps:

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