Global Carbon Fiber Reinforced Plastic Market Forecast to 2023
The latest report on Carbon Fiber Reinforced Plastic Market by Infinium global
research gives complete coverage of the 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) in terms of key trends,
market size, forecast and CAGR growth over the period of 2017 to 2023. In
addition, the study covers deep dive into key product and applications trends
in the regional markets of Carbon Fiber Reinforced Plastic such as North
America, Europe, Asia-Pacific and Latin America over the short run and long
run.
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Market Insights
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.
Segments Covered:
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 about 36 % 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.
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Companies Profiled:
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.
Report Highlights:
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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