Global Carbon Fibers Market Amid the Pandemic Impact - Aerospace and Automotive Demand Declined Sharply in 2020
Industry Experts, Inc. released an updated 2021 version of its in-depth comprehensive market report on Carbon Fibers. This global market report entitled " Carbon Fibers & Carbon Fiber Reinforced Plastics (CFRP) – A Global Market Overview " covers the detailed impact of COVID-19 pandemic on the Carbon Fiber market. Global demand for Carbon Fibers was declined sharply in 2020, dropping by 9.5% YOY in volume terms and 15.4% in value terms, due to reduction in demand for Carbon Fibers across major application areas amid the impact of coronavirus pandemic. Aerospace, automotive, and oil & gas applications have been hit hard by the pandemic during 2020. COVID-19 pandemic has impacted the production rates of aircrafts significantly during 2020 as demand for new aircrafts drastically decreased. Additionally, the parked fleet of commercial aircraft reached record levels globally during 2020 as passenger traffic fell and airlines reduced capacity. Each new generation of comme...