Global Carbon Fiber-reinforced Plastics (CFRP) Market set to hit estimated value $34197 Growth, Trends and Absolute Opportunity up to 2026
Analysis of Global
Carbon Fiber-reinforced Plastics (CFRP) Market report:
Global carbon fiber-reinforced
plastics (CFRP) market is estimated to reach
USD 34,196.67 million by 2026, registering a substantial CAGR in the forecast
period of 2019-2026. Rising prevalence for lightweight products in automotive
industry is the major factor for the growth of this market.
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Definition:
Carbon fiber reinforced polymer is a strong and light weight material which has carbon as their primary structural component. Polyacrylonitrile, petroleum pitch, etc. are some of the most common raw material used. Carbon fibers are widely used in industries like aerospace, automotive, sports equipment, construction and building etc. They are usually thermosetting resins like polyester, epoxy and vinyl ester. Increasing demand of carbon fiber reinforced polymer from aerospace industry for the manufacturing of aircraft is fuelling the growth of this market.
Leading Key players
profiled in this report are:
Few of the major competitors currently working in carbon
fiber-reinforced plastics (CFRP) market are TORAY INDUSTRIES, INC., TEIJIN
LIMITED, Mitsubishi Chemical Corporation, SGL Carbon, Formosa Plastics
Corporation, U.S.A., Hexcel Corporation, Jiangsu Hengshen Company Limited, Zhongfu
Shenying Carbon Fiber Co.,Ltd., DowAksa Advanced Composites Holdings BV., Magna
International Inc., SGL Carbon, SABIC, Quickstep Technologies, Nippon Graphite
Fiber Co., Ltd, Holding company "Composite", Solvay, Applied
Sciences, Inc. and others.
Market Drivers:
· Increasing demand for high-performance material in aerospace industry is driving the market growth
· Rising demand for light weight vehicles among population is another factor driving the market
Market Restraints:
· High production cost of the CFRP is restraining the market growth
· Availability of substitutes at cheaper cost is another facto restraining the market growth.
Global Carbon
Fiber-reinforced Plastics (CFRP) Market Segmentation:
By Raw Material
·
Polyacrylonitrile
·
Petroleum Pitch
·
Others
§
Rayon
§
Coal Tar Pitch
By Type
·
Thermosetting
§
Epoxy resin
§
Polyester resin
§
Vinyl resin
·
Thermoplastic
§
Polyether Ether Ketone (PEEK)
§
Polyurethane (PU)
§
Polyethersulfone (PES)
§
Polytherimide (PEI)
§
Others
By Manufacturing
Process
·
Prepreg Layup
·
Pultrusion and Winding
·
Wet Lamination & Infusion
·
Press and Injection
·
Others
By Application
·
Aerospace & Defense
·
Wind Turbines
·
Automotive
·
Sports Equipment
·
Building & Construction
·
Molding Compounds
·
Others
By Geography
·
North America
·
South America
·
Europe
·
Asia-Pacific
The Global Carbon Fiber-reinforced Plastics (CFRP) Market report provides the global market size of the main players in each region. Moreover, the report provides knowledge of the leading markets players within the Global Carbon Fiber-reinforced Plastics (CFRP) Market. The industry changing factors for the market segments are explored in this report. This analysis report covers the growth factors of the worldwide market based on end-users. Market opportunities and recommendations for new investments are also encompassed in this report.
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Company Share Analysis:
Global carbon fiber-reinforced plastics (CFRP) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of carbon fiber-reinforced plastics (CFRP) market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
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