Global Carbon Fiber-Reinforced Plastics (CFRP) Market, By Raw Material (Polyacrylonitrile (PAN)-based CFRP, Pitch-based CFRP, Rayon-Based, Others), Type (Thermoset, Thermoplastic), Manufacturing Process (Prepreg Layup, Pultrusion and Winding, Wet Lamination and Infusion, Press and Injection, Others), Application (Aerospace and Defense, Wind Turbines, Automotive, Sports Equipment, Building and Construction, Marine, Defense, Electrical and Electronics, Medical, Civil Engineering, Molding Compounds, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Carbon Fiber-Reinforced Plastics (CFRP) Market
The carbon fiber-reinforced plastics (CFRP) market size is expected to grow at a compound annual growth rate of 8.50% for the forecast period of 2021 to 2028. Data Bridge Market Research report on carbon fiber-reinforced plastics (CFRP) market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Carbon fiber reinforced plastic (CFRP) is a type of a composite material which consists of a polymer matrix fortified with fibers. Polyester, epoxy, nylon and vinyl are some of the regularly used CFRPs, which are generally produced by the infusion of the resin with carbon fiber reinforcement.
The rise in concern for automotive fuel efficiency and environmental regulations is expected to influence the growth of the carbon fiber-reinforced plastics (CFRP) market. In line with this, the rise in the use of CFRP in aerospace and high consumption of these composites from various end use industries such as aerospace, automotive and energy among others are also anticipated to act as key determinants favoring the growth of the carbon fiber-reinforced plastics (CFRP) market over the forecast period of 2021 to 2028. Also the, various features such as high strength to weight ratio, better performance than other materials and environment friendly nature of CFRP composite are also expected to positively impact the growth of the carbon fiber-reinforced plastics (CFRP) market. The major factor accountable for the growth of the market is the widespread utilization of CFRP in the production of various building and construction materials.
However, the decrease in number of commercial aircraft deliveries and high cost of carbon fiber are likely to act as key restraints towards carbon fiber-reinforced plastics (CFRP) market growth rate in the forecast period of 2021 to 2028, whereas the development of technology to reduce cycle time can challenge the growth of the carbon fiber-reinforced plastics (CFRP) market in the above mentioned forecast period.
Furthermore, the reduction in the cost of carbon fiber, high growth in the aerospace industry along with the rise in the product demand for the manufacturing of lightweight automotive components are expected to offer a variety of growth opportunities for the carbon fiber-reinforced plastics (CFRP) market in the above mentioned forecast period.
This carbon fiber-reinforced plastics (CFRP) market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the carbon fiber-reinforced plastics (CFRP) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Carbon Fiber-Reinforced Plastics (CFRP) Market Scope and Market Size
The carbon fiber-reinforced plastics (CFRP) market is segmented on the basis of raw material, type, manufacturing process and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of raw material, the carbon fiber-reinforced plastics (CFRP) market is segmented into polyacrylonitrile (PAN)-based CFRP, pitch-based CFRP, rayon-based and others.
- Based on type, the carbon fiber-reinforced plastics (CFRP) market is segmented into thermoset and thermoplastic. Thermoset has further been segmented into epoxy resin, polyester resin, vinyl ester resin, phenolic, polyimide resins and others. Thermoplastic has further been segmented into polyether ether ketone (PEEK), polypropylene, nylon, acrylic resins, polyamide resins, PET, polyphenylene sulfide (PPS), polyethylene, polyurethane, polyethersulfone, polyetherimide (PEI), and others.
- The manufacturing process segment for carbon fiber-reinforced plastics (CFRP) market is segmented into prepreg layup, pultrusion and winding, wet lamination and infusion, press and injection and others.
- Based on application, the carbon fiber-reinforced plastics (CFRP) market is segmented into aerospace and defense, wind turbines, automotive, sports equipment, building and construction, marine, defense, electrical and electronics, medical, civil engineering, molding compounds and others.
Carbon Fiber-Reinforced Plastics (CFRP) Market Country Level Analysis
The carbon fiber-reinforced plastics (CFRP) market is analyzed and market size, volume information is provided by country, type, application and end user as referenced above.
The countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America leads the carbon fiber-reinforced plastics (CFRP) market because of the high growth of the automotive and aerospace and defense industries in the U.S. and the strict government regulations regarding automotive pollution. Asia-Pacific is expected to expand at a significant growth of the over the forecast of 2021 to 2028 due to high demand from growing economies such as China and India.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Carbon Fiber-Reinforced Plastics (CFRP) Market Share Analysis
The carbon fiber-reinforced plastics (CFRP) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to carbon fiber-reinforced plastics (CFRP) market.
The major players covered in the carbon fiber-reinforced plastics (CFRP) market report are TORAY INDUSTRIES, INC., TEIJIN LIMITED, Mitsubishi Chemical Corporation, SGL Carbon, Formosa M Co., Ltd., Hexcel Corporation, Jiangsu Hengshen Company Limited, Magna International Inc., SABIC, Solvay, KUREHA CORPORATION, NIPPON STEEL Chemical & Material Co., Ltd., ALLRed & Associates Inc., Nikkiso Co. Ltd, Röchling, DowAksa, JEC Group, 3M, Evonik Industries AG, and ZOLTEK, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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