The Mesophase Pitch-Based Carbon Fiber Market Size is valued at USD 622.5 million in 2023 and is predicted to reach USD 991.7 million by the year 2031 at a 6.2% CAGR during the forecast period for 2024-2031.
Mesophase pitch-based carbon fibre is a liquid crystalline substance generated from coal tar or petroleum. Mesophase pitch-based carbon fibre is a high-performance carbon fibre. Factors such as the increasing need for lightweight, robust materials in the automotive and aerospace sectors, advancements in production techniques, and materials that efficiently transfer heat in electronics are propelling the mesophase pitch-based carbon fibre market. Lighter and more fuel-efficient vehicles are being manufactured by an increasing number of automakers employing carbon fibres derived from mesophase pitch. Additionally, the rising need for aircraft and vehicle components made of ultra-light, ultra-efficient materials is creating opportunities in the market for mesophase pitch-based carbon fibre. These fibres are becoming more affordable as a result of technological advancements in manufacturing. Growing awareness of ecologically friendly materials fuels acceptance in many different sectors and also bodes well for future market expansion.
However, market growth is hampered by the high cost of mesophase pitch-based carbon fibre, which a lack of knowledge, technical manufacturing hurdles, and strict regulations can hinder. Furthermore, COVID-19 affected the market for mesophase pitch-based carbon fibre by causing supply chain disruptions and a decrease in demand from the aerospace and automotive industries. However, as a result of recovery efforts, demand for mesophase pitch-based carbon fibre is on the rise. In addition, the demand for mesophase pitch-based carbon fibres is being propelled by wind energy, and clean technology is finding more and more uses due to the increased emphasis on sustainable solutions and renewable energy and the ongoing innovation in electronics and energy storage.
The global mesophase pitch-based carbon fiber market is segmented based on the type and application. Based on type, the market is segmented into high-modulus type and low-modulus type. By application, the market is separated into aerospace and defense, automotive, wind energy, sporting goods, construction and infrastructure, and electrical and electronics.
The high modulus type in the mesophase pitch-based carbon fibre market is expected to hold a major global market share in 2023. This is because its remarkable rigidity and strength make it perfect for use, necessitating great structural performance, including aerospace, military, and high-performance athletic items. Its high electrical conductivity makes it ideal for use in high-tech electronics and energy storage systems, which in turn increases demand in sectors that value long-term material efficiency and reliability.
The aerospace and defence segment in the mesophase pitch-based carbon fibre market is growing because there is a growing need for strong and lightweight materials to improve the effectiveness of aerospace and defence systems. These fibres are ideal for high-tech aerospace applications due to their remarkable heat stability and rigidity. The need to upgrade military hardware and create next-gen planes is another factor propelling the use of carbon fibres based on mesophase pitch in these industries.
The Asia Pacific global mesophase pitch-based carbon fibre market is anticipated to report the highest market share in revenue in the near future. This is because of highly developed aerospace and military industries, substantial investments in research and development, and an emphasis on using cutting-edge materials for applications requiring high performance in a wide range of technical fields.
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Report Attribute |
Specifications |
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Market Size Value In 2023 |
USD 622.5 Mn |
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Revenue Forecast In 2031 |
USD 991.7 Mn |
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Growth Rate CAGR |
CAGR of 6.2% from 2024 to 2031 |
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Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Type, Application |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
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Competitive Landscape |
Hexcel Corporation, Toray Industries, Inc., Teijin Limited, Mitsubishi Chemical Holdings Corporation, Nippon Carbon Co., Ltd., SGL Carbon, Solvay S.A., Cytec Solvay Group, Formosa Plastics Corporation, and Hyosung Advanced Materials. |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumptions
Chapter 2. Executive Summary
Chapter 3. Global Mesophase Pitch Based Carbon Fiber Market Snapshot
Chapter 4. Global Mesophase Pitch Based Carbon Fiber Market Variables, Trends & Scope
4.1. Market Segmentation & Scope
4.2. Drivers
4.3. Challenges
4.4. Trends
4.5. Investment and Funding Analysis
4.6. Industry Analysis – Porter’s Five Forces Analysis
4.7. Competitive Landscape & Market Share Analysis
4.8. Impact of Covid-19 Analysis
Chapter 5. Market Segmentation 1: by Type Estimates & Trend Analysis
5.1. by Type & Market Share, 2019 & 2031
5.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Type:
5.2.1. High Modulus Type
5.2.2. Low Modulus Type
Chapter 6. Market Segmentation 2: by Application Estimates & Trend Analysis
6.1. by Application & Market Share, 2019 & 2031
6.2. Market Size (Value (US$ Mn) & Forecasts and Trend Analyses, 2019 to 2031 for the following by Application:
6.2.1. Aerospace and Defense
6.2.2. Automotive
6.2.3. Wind Energy
6.2.4. Sporting Goods
6.2.5. Construction and Infrastructure
6.2.6. Electrical and Electronics
Chapter 7. Mesophase Pitch Based Carbon Fiber Market Segmentation 3: Regional Estimates & Trend Analysis
7.1. North America
7.1.1. North America Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.1.2. North America Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.1.3. North America Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.2. Europe
7.2.1. Europe Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.2.2. Europe Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.2.3. Europe Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.3. Asia Pacific
7.3.1. Asia Pacific Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.3.2. Asia Pacific Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.3.3. Asia Pacific Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.4. Latin America
7.4.1. Latin America Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.4.2. Latin America Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.4.3. Latin America Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
7.5. Middle East & Africa
7.5.1. Middle East & Africa Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Type, 2024-2031
7.5.2. Middle East & Africa Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by Application, 2024-2031
7.5.3. Middle East & Africa Mesophase Pitch Based Carbon Fiber Market Revenue (US$ Million) Estimates and Forecasts by country, 2024-2031
Chapter 8. Competitive Landscape
8.1. Major Mergers and Acquisitions/Strategic Alliances
8.2. Company Profiles
8.2.1. Hexcel Corporation
8.2.2. Toray Industries, Inc.
8.2.3. Teijin Limited
8.2.4. Mitsubishi Chemical Holdings Corporation
8.2.5. Nippon Carbon Co., Ltd.
8.2.6. SGL Carbon
8.2.7. Solvay S.A.
8.2.8. Cytec Solvay Group
8.2.9. Formosa Plastics Corporation
8.2.10. Hyosung Advanced Materials
8.2.11. Other Prominent Players
Mesophase Pitch-Based Carbon Fiber Market By Type-
Mesophase Pitch-Based Carbon Fiber Market By Application-
Mesophase Pitch-Based Carbon Fiber Market By Region-
North America-
Europe-
Asia-Pacific-
Latin America-
Middle East & Africa-
InsightAce Analytic follows a standard and comprehensive market research methodology focused on offering the most accurate and precise market insights. The methods followed for all our market research studies include three significant steps – primary research, secondary research, and data modeling and analysis - to derive the current market size and forecast it over the forecast period. In this study, these three steps were used iteratively to generate valid data points (minimum deviation), which were cross-validated through multiple approaches mentioned below in the data modeling section.
Through secondary research methods, information on the market under study, its peer, and the parent market was collected. This information was then entered into data models. The resulted data points and insights were then validated by primary participants.
Based on additional insights from these primary participants, more directional efforts were put into doing secondary research and optimize data models. This process was repeated till all data models used in the study produced similar results (with minimum deviation). This way, this iterative process was able to generate the most accurate market numbers and qualitative insights.
Secondary research
The secondary research sources that are typically mentioned to include, but are not limited to:
The paid sources for secondary research like Factiva, OneSource, Hoovers, and Statista
Primary Research:
Primary research involves telephonic interviews, e-mail interactions, as well as face-to-face interviews for each market, category, segment, and subsegment across geographies
The contributors who typically take part in such a course include, but are not limited to:
Data Modeling and Analysis:
In the iterative process (mentioned above), data models received inputs from primary as well as secondary sources. But analysts working on these models were the key. They used their extensive knowledge and experience about industry and topic to make changes and fine-tuning these models as per the product/service under study.
The standard data models used while studying this market were the top-down and bottom-up approaches and the company shares analysis model. However, other methods were also used along with these – which were specific to the industry and product/service under study.
