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.
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.
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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.
· 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
· 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
· Petroleum Pitch
§ Coal Tar Pitch
§ Epoxy resin
§ Polyester resin
§ Vinyl resin
§ Polyether Ether Ketone (PEEK)
§ Polyurethane (PU)
§ Polyethersulfone (PES)
§ Polytherimide (PEI)
By Manufacturing Process
· Prepreg Layup
· Pultrusion and Winding
· Wet Lamination & Infusion
· Press and Injection
· Aerospace & Defense
· Wind Turbines
· Sports Equipment
· Building & Construction
· Molding Compounds
· North America
· South America
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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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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