Milled Carbon Fiber Market Report

Market Insights

“The milled carbon fiber market size was US$ 186 Million in 2023 and is likely to grow at an impressive CAGR of 10.6% in the long run to reach US$ 310 Million in 2030”.

Market Dynamics

Introduction

Milled carbon fiber is another unique carbon fiber that is mechanically reduced to a powder form has a high strength-to-weight ratio and has excellent thermal and electrical conductivity. Milled carbon fiber is widely used in automotive, aerospace, electronics, sports, and civil engineering industries because it has a high tensile strength-to-weight ratio, low thermal expansion, and good thermal conductivity. The so-called milled carbon fiber is needed due to its characteristics that provide strength and durability accompanied by weight savings and efficiency enhancement.

Also, its use goes as far as the components of vehicles and airplanes, as conductive epoxy adhesives, high-quality sports equipment, and construction materials. Market growth is attributed to the rise in demand across the automotive sector especially where manufacturers are adopting lightweight materials as a way of cutting down on emissions and improving on fuel efficiency. Wind energy is a progressively expanding sector looking for eco-friendly and cost-effective materials to use in producing turbine blades, and this is one of the many reasons for the uplift in demand for milled carbon fiber. The growth in consumer engagement towards lightweight and high-performance products is fostering the market. Milling of carbon fiber requires sophisticated processes and high-quality materials which put it among the most costly processes in manufacture. Another disadvantage of the market is that any constraints that hinder the supply chain, for instance, scarcity or shutdown of sources of raw materials due to some geopolitical reasons, can halt production in the market. The increasing use of renewable energy especially wind and solar is a desirable condition in terms of milled carbon fiber on the global level.

Recent Market JVs and Acquisitions:

A huge number of strategic alliances including M&As, JVs, etc. have been performed over the past few years:

• In June 2021, Procotex’s acquisition of ELG Carbon Fibre enabled the company to produce milled carbon fiber and feedstock in larger capacities.
• In December 2020, Mitsubishi Chemical Group Corporation combined its subsidiaries in three countries: the US, the UK, and Germany. By sharing and integrating expertise and resources, this integration is expected to enhance cooperation and strengthen overall business capabilities in these three countries. The company plans to improve customer responsiveness and provide solutions in these countries. Nine subsidiaries in the US, five in the UK, and five in Germany were integrated on April 1, 2021.

Market Segments' Analysis

By Fiber Type

“Recycled Fiber type is expected to be the demand generator for milled carbon fibers.”

• The milled carbon fiber market is segmented into virgin and recycled types.
• Recycled Type is expected to remain the dominant fiber type in the market during the forecast period.
• This segment is a significant contributor to the market, offering properties like corrosion resistance, good electrical conductivity, high modulus, and high strength.

By Application Type

“Reinforcement Type is anticipated to hold the largest milled carbon fiber market share.”

• The market is segmented into reinforcements and coatings & adhesives.
• Reinforcement is anticipated to hold the larger milled carbon fiber market share.
• The dominance of this segment is driven by the rising demand for high-performance, lightweight materials across various industries.

By End-Use Industry Type

“Automotive is likely to hold the dominance in the segment during the forecasted period.”

• The market is segmented into automotive, electrical & electronics, sporting goods, and aerospace & defence.
• Automotive is likely to hold the dominance in the segment during the forecasted period.
• Milled carbon fiber is pivotal in the automotive segment, particularly in the development of fuel-efficient, durable, and lightweight automotive vehicles.

Regional Analysis

“Europe is expected to maintain its reign over the forecast period.”

• Europe is anticipated to continue to hold the top spot in terms of geographic market share for the milled carbon fiber market throughout the forecast period.  
• Europe led the market due to an increasing demand for lightweight and fuel-efficient automotive vehicles and light aircraft, stringent environmental regulations, and technological advancements in composite materials and manufacturing processes.

Key Players

The market is highly fragmented with the presence of over 500 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the milled carbon fiber market.

Here is the list of the Top Players (Based on Dominance)

• Toray Industries, Inc.
• Teijin Limited
• R&G Faserverbundwerkstoffe GmbH
• CLM-Pro
• Mitsubishi Chemical Group Corporation
• Hebei Yayang Spodumene Co., Ltd.
• SGL Carbon
• Daigas Group
• K. SAKAI & Co., LTD
• Nippon Graphite Fiber Co., Ltd.
• Stanford Advanced Materials
• Easy Composites Ltd
• Haufler Composites GmbH & Co. KG
• Nantong Yongtong Environmental Technology Co., Ltd.
• Tasuns Composite Technology Co., Ltd.

Note: The above list does not necessarily include all the top players of the market.

Are you the leading player in this market? We would love to include your name. Write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The global milled carbon fiber market is segmented into the following categories. 

Milled Carbon Fiber Market, by Fiber Type

• Virgin (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Recycled (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Milled Carbon Fiber Market, by Application Type

• Reinforcements (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Coatings & Adhesives (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Milled Carbon Fiber Market, by End-Use Industry Type

• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Sporting Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Aerospace & Defence (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Milled Carbon Fiber Market, by Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s milled carbon fiber market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]