Global Carbon Fiber-Reinforced Plastics (CFRP) Market Is Estimated To Reach USD 34,196.67 Million By 2026

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.

Global Carbon Fiber-reinforced Plastics (CFRP) Market By Raw Material (Polyacrylonitrile, Petroleum Pitch, Others), Type (Thermosetting, Thermoplastic), Manufacturing Process (Prepreg Layup, Pultrusion and Winding, Wet Lamination & Infusion, Press and Injection, Others), Application (Aerospace & Defense, Wind Turbines, Automotive, Sports Equipment, Building & Construction, Molding Compounds and Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026.

Market Analysis: Global Carbon Fiber-reinforced Plastics (CFRP) Market

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.

Market Definition: Global Carbon Fiber-reinforced Plastics (CFRP) 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.

 

Market Drivers:

  • 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

Market Restraints:

  • High production cost of the CFRP is restraining the market growth
  • Availability of substitutes at cheaper cost is another facto restraining the market growth.

Segmentation: Global Carbon Fiber-reinforced Plastics (CFRP) Market

By Raw Material

  • Polyacrylonitrile
  • Petroleum Pitch
  • Others
    • Rayon
    • Coal Tar Pitch
  • By Type
  • Thermosetting
    • Epoxy resin
    • Polyester resin
    • Vinyl resin
      • Phenolic
      • Urethane
  • Thermoplastic
    • Polyether Ether Ketone (PEEK)
    • Polyurethane (PU)
    • Polyethersulfone (PES)
    • Polytherimide (PEI)
    • Others
      • Polypropylene
      • Polycarbonate

By Manufacturing Process

  • Prepreg Layup
  • Pultrusion and Winding
  • Wet Lamination & Infusion
  • Press and Injection
  • Others

By Application

  • Aerospace & Defense
  • Wind Turbines
  • Automotive
  • Sports Equipment
  • Building & Construction
  • Molding Compounds

Key Developments in the Market

  • In August 2018, Teijin Limited announced that they are going to acquire Inapal Plasticos SA so that they can expand their technologies worldwide and strengthen them in the lightweight composite industry. This will also help them to expand themselves in the automotive industry by meeting the need and requirements of their customers
  • In December 2017, Hexcel Corporation announced that they are going to acquire Oxford Performance Materials. The main aim of the acquisition is to combine the Hexcel carbon fiber capability with Oxford’s PEKK so that they can provide a range of new technology solutions for their aerospace and defense customers

Competitive 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.

Request for TOC@ https://www.databridgemarketresearch.com/toc?dbmr=global-carbon-fiber-reinforced-plastics-cfrp-market

Key Market Competitors:

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.

 

About Data Bridge Market Research 12188 Articles
Hi, I am Ravi Kumar, a Blogger, Freelancer, SEO Consultant, an Internet Marketer, I am a research analyst who loves to evaluate data relating to Manufacturing industry, Management of companies and enterprises, Finance and insurance, Wholesale trade, Management, scientific, and technical consulting services

Leave a Reply

Your email address will not be published.


*