The global demand for carbon fiber increased by 7.0% in Q3 2022 as compared to Q3 2021. Demand for carbon fiber was driven by increased commercial aircraft deliveries and increased demand of lightweight materials in the wind energy and sporting goods markets. Global deliveries of commercial aircraft increased by 18.4% in Q3 2022 as compared to Q3 2021. There was also growth in the sporting goods market during Q3 2022 from Q3 2021. Carbon fiber prices increased by about 23.1% in Q3 2022 as compared to Q3 2021. The major reasons of price increase were limited supply of raw materials, Russia-Ukraine war, and increased fuel and energy prices, thus causing instability in the carbon fiber industry.
In Q4 2022, the demand for carbon fiber is forecast to increase by 2.4% as compared to Q4 2021, driven by increasing demand from the aerospace, sporting goods, and industrial sectors. Carbon fiber price is forecast to increase by 13.3% in Q4 2022 as compared to Q4 2021 due to an increase in raw material prices and freight cost. The figure below depicts the changes in demand and the price of carbon fiber over the past five quarters. The data also provides forecast for Q4 of 2022 as shown below.
Source: Lucintel
Figure: Changes in the Global Carbon Fiber Shipment and Price Trends
North America
In Q3 2022, the carbon fiber demand in North America increased as compared to Q3 2021, and it is expected to increase further in Q4 2022. The increase in demand is basically due to high demand from end use industries, such as aerospace and sporting goods. In North America, commercial aircraft deliveries increased by 49% in Q3 2022 as compared to Q3 2021. The price of carbon fiber increased in Q3 2022 as compared to Q3 2021, mainly because of the increase in shipment cost and fuel costs. The price of carbon fiber is expected to increase further in Q4 2022 as compared to Q4 2021.
Europe
In Q3 2022, the demand for carbon fiber grew in the European market as compared to Q3 2021, and this high demand is expected to continue through Q4 2022 as well due to increased demand from end use markets, like sporting goods and other consumer goods. In Q3 2022, carbon fiber price increased as compared to Q3 2021, and it is expected to increase further in Q4 2022 as well. The carbon fiber price increase is driven by the limited supply of raw materials and Russia’s invasion of Ukraine.
APAC
In Q3 2022, the demand for carbon fiber in APAC increased as compared to Q3 2021 as consumption of carbon fiber increased in end use markets, such as automotive, sporting goods, and consumer goods. In APAC, light vehicle sales increased by 28.7% in Q3 2022 as compared to Q3 2021. The carbon fiber demand is expected to increase in Q4 2022 as well with recovery in consumption. Carbon fiber price in Asia increased in Q3 2022 as compared to Q3 2021 due to the supply chain issue and increased cost of shipment.
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
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