The report on Carbon Fiber Reinforced Plastic Market by type (thermo setting and thermoplastic), by raw materials (petroleum pitch), manufacturing process (prepreg layup, wet lamination & infusion, press, injection), application (aerospace & defense, wind turbines, automotive, sports equipment, building & molding compounds) trends analysis and forecasts up to 2023 studies the market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific, Rest of the World. According to the report the Global Carbon Fiber Reinforced Plastic Market is projected to grow at a CAGR between 9.5% to 10.0% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.
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The report identified that the global carbon fiber reinforced plastic (CRFP) market is driven by factors such as, increasing demand in the automotive and aerospace industry. Moreover, growth in defense sector is likely to boost the market size of carbon fiber reinforced plastic (CRFP) market over the next few years. On the other hand, the restraining factors identified in the study include demand for lightweight & cost-effective CFRP.
Rising Demand for carbon fiber reinforced plastic (CRFP) market in sports applications, especially in the APAC region and Research and development in the aviation industry for manufacturing components provide opportunity for major players in the emerging and developing economies. High cost associated with production of defense grade CFRP is a challenge for the major players to expand further during the forecast period.
The report segments the global carbon fiber reinforced plastic (CRFP) market by type, raw materials, manufacturing process, application and region. On the basis of raw materials the CFRP market is segmented as polyacrylonitrile, petroleum pitch and others. Moreover, on the basis of types it is segmented as thermo setting and thermoplastic. The manufacturing processes of carbon fiber reinforced plastic include prepreg layup, pultrusion and winding, wet lamination & infusion, press and injection and others. The applications of CFRP covered in the research include aerospace & defense, wind turbines, automotive, sports equipment, building & construction, molding compounds and others.
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Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
North America is the key consumer of carbon fiber reinforced plastic (CRFP) in the global market. As of 2015, this region accounted for about36 % share in the global market. Asia Pacific accounted for 28% of the global share followed by Europe at 21%. The low cost and high strength to weight ratio of PAN-based carbon composites are expected to drive Polyacrylonitrile demand for CFRP production over the forecast period in the APAC regions. Japan and China are emerging to be the economies across the APAC region, which are expected to grow with a rate of 9.8% during the forecast period.
The companies covered in the report include Cytec Industries Inc., DowAksa Advanced Composites Holding B.V., Formosa Plastics Corporation, Hexcel Corporation, JIANGSU HENGSHEN FIBRE MATERIALS CO.LTD., Mitsubishi Rayon Co., Ltd., SGL CARBON SE, Teijin Limited, Toray Industries, Inc., Zhongfu Shenying Carbon Fiber Co., Ltd.
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The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of carbon fiber reinforced plastic (CRFP) market globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of Carbon Reinforced Plastic. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the global carbon fiber reinforced plastic (CRFP) market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the global carbon fiber reinforced plastic (CRFP) market to understand the present and future trends in this market and formulate their strategies accordingly.
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