The global demand for Carbon Fiber Reinforced Plastic Market is presumed to reach the valuation of nearly USD XX MN by 2026 from USD XX MN in 2019 with a CAGR of XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XX Tons in 2021 and foreseen to touch XX Tons by 2027 with a CAGR of XX% during 2021-2027.
Carbon Fiber Reinforced Plastic refers to polymers crafted by treating carbon fiber-infused resin to improve the strength. The CFRPs are extensively used in airframe structural applications on account of its excellent tensile & fatigue strength and modulus. CFRP material is gradually replacing metals in several automotive applications. Also, the carbon fiber reinforced plastic is utilized in manufacturing imaging equipment structures, sports equipment, molding compounds, and blades for wind turbines. Furthermore, on account of its potent absorbent properties, CFRP materials are being used as a water purifier.
CFRP market products offer a better fuel economy than traditional materials by virtue of higher weight saving properties. Thereby, heightened demands for eco-friendly and better-mileage enhance product penetration in the automotive industry. The application of Carbon Fiber Reinforced Plastic products in the aerospace and defense industry draws lucrative business prospects for the manufacturers. However, volatile costs and long production cycles are anticipated to restrain market growth. Also, the global crisis instilled by COVID-19 is expected to adversely impact political, legal and economic aspects of the market, thereby acting as a grave challenge. On the other hand, the surging application of CFRPs in the building and construction sector poses substantial revenue prospects. Furthermore, the expanding usage of CFRP products in implants, orthopedic trauma, and musculoskeletal oncology are anticipated to boost the demand for CFRP materials in the medical industry.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of carbon fiber reinforced plastic.
The entire carbon fiber reinforced plastic market has been sub-categorized into raw material, product and application. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Raw Material
- Thermosetting CFRP
- Thermoplastic CFRP
- Wind Turbines
- Sport Equipment
- Molding & Compounding
- Pressure Vessels
This section covers regional segmentation which accentuates on current and future demand for carbon fiber reinforced plastic market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Global Carbon Fiber Reinforced Plastic Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the carbon fiber reinforced plastic market include DowAksa, Cytec Solvay Group, Toray Industries, Inc., SGL Group, Hexcel Corporation, Teijin Limited, Mitsubishi Rayon Co., Ltd., Hyosung Corporation, Gurit Holding AG, Plasan Carbon Composites, Kringlan Composites AG, Formosa Plastics Corporation, TenCate NV, Toho Tenax Co., Ltd., Zoltek Companies, Inc. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.